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Global Genome Editing Market Size, Share, Trends, COVID-19 Impact and Growth Analysis Report – Segmented By Application, Technology, End-User and Region - Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 2669
Pages: 175
Formats: report pdf report excel report power bi report ppt

Genome Editing Market Size (2022 to 2027)

As per our analysis report, the global genome editing market will be worth USD 4.24 billion in 2022 and is expected to grow at a CAGR of 14.42%, reaching USD 8.33 billion by 2027.

MARKET DRIVERS:

The rise in government funding for genomic research, an increase in R&D expenditure, growth in the production of genetically modified crops, and technological advancements are majorly driving the global genome editing market growth.

The global genome editing market is further progressing due to the more significant number of application areas such as therapeutics, mutation and agriculture, and biotechnology. These technologies offer many openings in crop improvement in gene-targeted exchange therapy, which is not yet grasped. For crop improvements, homologous recombination is an effective procedure and is expected to drive the global genomic editing market in the future. Furthermore, the scope of the genomic editing market is rising due to increasing applications and diseases. Genome editing has a substantial range to treat a diversity of cancers, genetically affected cells, and agents of infectious diseases such as parasites, viruses, bacteria, etc.

Increasing focus of government and private organizations to invest in research and developments of genome editing, rising number of applications in therapeutics, agriculture biotechnology, and mutation fields, and to treat genetically affected cells and various infections are likely to provide lucrative opportunities for the growth of the global genome editing market over the forecast period.

MARKET RESTRAINTS:

Ethical issues related to crop genomic editing and others hamper the market growth. In addition, concerns for animal welfare can rise at all generation phases, and the life duration of genetically engineered animals hinders the global genome editing market.

Impact of COVID-19 on the global genome editing market:

Scientists have been using CRISPR technology to develop rapid diagnostic tests for SARS-COV-2. In addition, scientists are looking at CRISPR as a potential therapeutic utilized in targeted enzymatic activity to destroy the coronavirus RNA and prevent virus replication. Technology-based gene-editing systems play a vital role in defense against infection. Hence the market has gained a positive impact in fighting against COVID-19, and the genome editing market growth is projected to rise in the coming years.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Covered

By Application, Technology, End-User, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges; PESTLE Analysis, Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East, and Africa

 

This research report on the global genome editing market has been segmented and sub-segmented into the following categories and analyzed market size and forecast for each segment until 2027.

Global Genome Editing Market – By Application:

  • Cell Line Engineering          
  • Animal Genetic Engineering           
  • Plant Genetic Engineering

Based on application, the cell line engineering segment is ruling the market and is expected to grow with the increasing CAGR during the forecast period. Increasing demand for stem cell therapies, intensifying focus of key players on stem cell research, and growing funds from private and public sectors are the major factors contributing to the growth of the cell line engineering segment, leading to a boost in the genome editing market.

Global Genome Editing Market – By Technology:

  • CRISPR
  • TALEN
  • ZFN
  • Antisense
  • Other Technologies

Based on technology, the CRISPR segment contributes a significant share of revenues to the market. Furthermore, it is likely to grow further during the forecast period due to its ability to target multiple sites simultaneously in a single cell using various guide RNAs.

Global Genome Editing Market – By End-users:

  • Biotechnological & Pharmaceutical Companies
  • Academic and Government Research Institutes
  • Contract Research Organizations

Based on end-users, the Academic and research institutes segment dominates the market due to government initiatives and funding for stem cell therapies and genetic engineering research. In addition, the emergence of new pharmacy and biotech companies in developing countries is boosting the growth of the Pharmaceutical and biotechnological segment.

Global Genome Editing Market – By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

Regionally, the global genome editing market was dominated by North America in 2019, with the region accounting for 40% of the overall market share. North America was followed next in line by Europe and Asia-Pacific.

North America is likely to continue in the global genome editing market due to the government's increased funding for genomic modification in the region. North America holds the largest market share in the genome editing market, followed by Asia-Pacific and Europe region, and it also has a higher patient count. In addition, acceptance of government funding and research grants, GM crop adoption, and development in gene therapy anticipate the growth of the genome editing market in North America. 

Asia-Pacific is expected to increase in the coming years, as evident from the region's high CAGR value. Another promising area for the market is Latin America, which is expected to show high growth rates in the coming years. The Asia Pacific has had steady growth in the market for the past few years due to the upsurge in investments by essential players in the region. The rise in government initiatives to fund start-up companies and new players in the pharmaceutical and biotechnology industries and the increase in drug discovery and development activities are the major factors anticipated to drive the genome editing market growth in the Asia Pacific region during the forecast period.

KEY MARKET PARTICIPANTS:

Noteworthy companies profiled in this report in the global genome editing market are Thermo Fisher Scientific, Merck KGAA, Horizon Discovery Group Plc, Genscript Biotech Corporation, Sangamo Biosciences, Integrated DNA Technologies, Lonza Group Ltd, New England Biolabs, Origene Technologies, and Transposagen Biopharmaceuticals.

RECENT HAPPENINGS IN THIS MARKET:

  • REMD Biotherapeutics Company collaborated with GenScript Biotech Corporation in 2019. This alliance is focused on developing biospecific antibodies.  
  • Thermo fisher scientific has developed a new assay called Ion Torrent Oncomine Myeloid Research Assay, which runs on Ion Torrent Genexux System and will be available in 2020.

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FAQ's

How much is the global genome editing market going to be worth by 2027?

As per our research report, the global genome editing market size is projected to be USD 8.33 billion by 2027. 

Which region is growing the fastest in the global genome editing market?

Geographically, North American genome editing accounted for the largest share of the global market in 2021. 

At What CAGR, the global genome editing market is expected to grow from 2022 to 2027?

The global genome editing market is estimated to grow at a CAGR of 14.42% from 2022 to 2027. 

Which are the significant players operating in the genome editing market?

Horizon Discovery Group Plc, Genscript Biotech Corporation, Sangamo Biosciences, Integrated DNA Technologies, Lonza Group Ltd, New England Biolabs, Origene Technologies are some of the significant players operating in the genome editing market

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