Tue. Dec 7th, 2021

Increased government funding and growth in the number of genomics projects is expected to drive global genome editing market through 2026.

According to TechSci Research report, “Global Genome Editing Market, By Technique (CRISPR, TALENs, Zinc Finger Nucleases, Others), By Application (Cell Line Engineering, Animal Genetic Engineering, Plant Genetic Engineering, Others), By Delivery Method (Ex-vivo, In-vivo), By End User (Pharmaceutical & Biotechnology Companies, Clinical Research Organization, Research Institutes), By Region, By Company, Forecast & Opportunities, 2026”, the global genome editing market is expected to reach USD8711.24 million by 2026 and to grow with a double digit CAGR of 12.73% during the forecast owing to its application in a large number of areas, such as mutation, therapeutics, and agriculture biotechnology. The major factors propelling growth of genome editing market are increasing prevalence of cancer and other genetic disorders, prevalence of infectious and chronic diseases like hepatitis, tuberculosis, malaria and growth of biotechnology and pharmaceutical industries.

The number of research activities for the treatment of chronic diseases using genome editing technology is increasing which is further driving the market growth. Technological advancements in the biotechnology sector are giving a boost to the demand for genome editing, globally. Developing countries are serving as emerging market for the growth of genome editing. This can be majorly attributed to the continuous research and development activities and funding from various research organizations.

However, the global genome market also has some restraints. There are some risks and ethical issues associated with genome editing which hampers the market growth. Genetic alteration of human germline for medicinal purpose is a debatable issue. Many researchers and scientists have advocated for the ban or prohibition of genome editing fearing its illegal usage. Also, lack of skilled professionals, high equipment cost, and negative public opinion about genetic research are posing a threat for the market growth.

Browse 133 Figures spread through 110 Pages and an in-depth TOC on “Global Genome Editing Market”

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The global genome editing market is segmented based on technique, applications, delivery method, end-user and region. Based on technique, the global genome editing market is segmented into CRISPR, zinc finger nucleases, TALENs and others. Among them, the CRISPR segment is projected to dominate the market during the forecast period owing to its specific and cost-effective nature. Further, rise in funding, initiatives by the government for the development of drugs and vaccines that use CRISPR technology, which provides tailor-made options specific to the patient’s mutations towards diseases is promoting the growth of the market through 2026.

Based on application, the market is divided into cell line engineering, animal genetic engineering, plant genetic engineering and others. In 2020, cell line engineering segment accounted for the maximum market share followed by animal and plant genetic engineering. Increasing research activities of stem cells for the treatment of various diseases and growing awareness about stem cell therapy benefits have made this segment dominating over other applications of genome editing.

Thermo Fisher Scientific Inc., Homology Medicines, Inc., CRISPR Therapeutics AG, Pfizer Inc., Editas Medicine Inc., Intellia Therapeutics Inc., Cellectis SA, Sangamo Therapeutics Inc., Origene Technologies Inc., Merck & Co Inc., New England Biolabs Inc., Lonza Group AG, Danaher Corporation (Integrated DNA Technologies Inc.), PerkinElmer Inc. (Horizon Discovery Group Plc), Genscript Corp., Oxford Genetics Ltd., Bayer AG, Arcturus Therapeutics Inc, Inscripta Inc., Beam therapeutics Inc. are some of the leading players operating in global genome editing market. Major market players are implementing strategic initiatives such as mergers and acquisition to create their dominance in genome editing market.

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“Introduction of new technologies will substitute genome editing companies’ revenue generation. Application of genome editing in therapeutics is one of the key factors behind the robust growth of the market. However, genome editing market is moderately concentrated and is in the initial phase of growth. Market players need to have technologically advanced genome editing tools to gain higher market share. The application areas of genome editing are widening and is projected to drive the growth of the market”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Global Genome Editing Market, By Technique (CRISPR, TALENs, Zinc Finger Nucleases, Others), By Application (Cell Line Engineering, Animal Genetic Engineering, Plant Genetic Engineering, Others), By Delivery Method (Ex-vivo, In-vivo), By End User (Pharmaceutical & Biotechnology Companies, Clinical Research Organization, Research Institutes), By Region, By Company, Forecast & Opportunities, 2026”has evaluated the future growth potential of global genome editing market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global genome editing market.

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