The global gene editing market size was US$ 3.9 billion in 2021. The global gene editing market size is estimated to reach US$ 6.9 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.7% during the forecast period from 2022 to 2030.
Gene editing also known as genome editing directs to a group of technologies that allow scientists to alter the DNA of an organism. These technologies permit genetic material to be added, removed, or modified at distinctive points in the genome. As a result, a variety of editing techniques have been introduced for usefulness in the industry. Human disorders such as sickle cell disease, cystic fibrosis, cancer, HIV infection, and others are also prevented and treated through gene editing.
It is mostly used to make genetically altered crops more affordable by supplying gene editing reagents to plants. Furthermore, this method can be used to produce genetically altered animals to be used in biomedical industries and agriculture.
Factors Affecting Market Growth
Top performers such as Crispr therapeutics, Takara Bio, Origene Technologies, and others are concentrating on inorganic tactics, including associations and alliances to expand their distribution networks and enhance their manufacturing capabilities in arising markets, which are driving the global market.
The increase in demand for synthetic genes for medicine development to cure cancer is anticipated to drive the global market.
The development of CRISPR -based novel diagnostic devices to mitigate the damaging impact of COVID-19 is driving the growth of the global market.
A new gene-editing device that simultaneously enabled the performance of millions of genetic experiments, delivering improved editing rates. This constant technological development in gene-editing devices is a primary contributing factor for revenue generation, thus driving the global market.
Impact Analysis of COVID-19
COVID-19 had a positive impact on the global market due to the least availability of hospital beds and social distancing norms produced for maximum adaptation of a home-based patient care system. It has changed the way of living and has also boosted the scientific communities for increasing tendencies in invention and collaboration. Researchers are speeding up to discover vaccines, diagnoses, and therapies for new ways to battle SARS-CoV-2, which causes Covid-19, which made researchers shift to artificial intelligence, machine learning, and high-throughput experimental automation. CRISPR is another useful technique they are operating to speed up the process. This gene-targeting and gene-editing technology, based on a mechanism used by bacteria to inherently resist viruses, is already proving efficient against the virus. SARS-CoV-2 demands isolating infected patients and monitoring proper healthcare responses. Hence, the COVID-19 pandemic drives the growth of the global market.
North America accounted for the largest revenue share in 2020 and dominated the global market. The existence of impactful research, as well as a commercial base for advanced therapy development associated with a high number of clinical trials done for gene and stem cell therapies in the region, has primarily driven the global market in the region. On the other hand, in the Asia Pacific, the market is expected to witness the fastest growth rate during the forecast period. In November 2020, China declared its ten most important advancements in the agriculture sector, out of which one was gene-editing technology, thus conveying the high market penetration of this area in the country. Thus, driving the growth of the global market in the region.
The prominent players in the global gene editing market are:
ThermoFischer Scientific Inc.
The global gene editing market focuses on Technology, Application, End User, and Region.
Segmentation on the basis of Technology
Transcription Activator-Like Effector-based Nucleases (TALENs)
CRISPR-Cas9 Gene Editing
Zinc Finger Nucleases (ZFNs)
Segmentation on the basis of Applications
Plant Genetic Engineering
Animal Genetic Engineering
Cell Line Engineering
Segmentation on the basis of End User
Contract Research Organizations
Academic and Government Research Institutes
Biotechnology and Pharmaceutical Companies
Segmentation on the basis of Region
Rest of Western Europe
Rest of Eastern Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America