Genome Engineering Market

Global Genome Engineering Market Size (2023 to 2028)

The size of the global genome engineering market is estimated to be worth USD 9.49 billion by 2028 from USD 4.8 billion in 2023, growing at a CAGR of 14.61% from 2023 to 2028.

Genome engineering is a compilation of technologies that enable the alteration of DNA. These methodologies are developed to help researchers add, remove, replicate, and alter DNA in multiple applications for various purposes. For instance, the genome editing process can be used in somatic and germline cells to perform research and development activities. In addition, these procedures aim to provide faster and more accurate diagnostic procedures, initiate personalized treatments, and find cures for genetic disorders. CRISPR-Cas9 is the most recognized and widely used genome engineering tool in the current industry due to its efficiency, speed, affordability, and extensive range of applications. 

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

The pandemic left a lot of indentations to the economy of the world. However, even though many markets experienced massive downfalls during the spread of COVID-19, the genome engineering market experienced a positive impact. The growing requirement for continuous research and development and genome editing applications in biologics led to its significant requirement for COVID-19-related research and vaccine development, promoting market growth. Biotechnology companies became increasingly keen on gene editing as there was a surge in demand for research and increasing government funds toward the same helping the market growth. Considering the favorable impact of the COVID-19 pandemic, the global genome engineering market is anticipated to showcase a promising CAGR during the forecast period.

MARKET DRIVERS:

The genome engineering market is rapidly growing, mainly driven by the need for a solution for the current-day prevalence of various diseases.

In addition, scientists from the Francis Crick Institute have discovered rules to determine the precision of CRISPR/Cas9 genome editing in human cells. These rules are expected to help improve the safety and efficiency of genome engineering in both clinics and labs. The growth of the global genome engineering market is further driven by the ease of using CRISPR technology for genome study and modifications, especially for cell line engineering applications. Also, the need for action against common cancers and infectious diseases is another primary driver of global market growth.

The multiple applications and advantages of genome engineering are driving market growth.

Genome engineering is used to study gene functions, targets for novel drugs, visualize proteins, etc., which gives it the ability to have applications in medicine, agricultural studies, biomaterials, and even environmental studies. Genome engineering is continuously applied in drug discovery, therapeutics for diseases like sickle-cell anemia, better diagnostic procedures through biosciences, create models for diseases to study their physiology adequately, and in recent times there have been genome-engineered cattle and plants supporting the growth of the market due to vivid applications. 

MARKET RESTRAINTS:

However, the lack of R&D centers across the globe as they are required to pull the growth of the global market in the mentioned forecast period. Also, the global concentration of the genome engineering market in regions such as North America and Europe reduces the chances of global market expansion into areas such as Africa and the Middle East.

REPORT COVERAGE:

This research report on the global genome engineering market has been segmented & sub-segmented into the following categories.

Genome Engineering Market - By Technology:

• ZFN
• CRISPR
• Antisense
• TALEN
• Others

Among the mentioned technologies, the CRISPR segment is anticipated to account for the largest share of the global market for genome editing during the forecast period. The exceptional growth is attributed to the convenient usage of this technology and its multiple capabilities. CRISPR cas9 has a wide range of applications in biologics. It has also been used in the research and development of various kinds, like eliminating viral infections and biotechnological and agricultural applications. 

Genome Engineering Market - By Application:

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

Of the mentioned applications, the cell line engineering segment is projected to have the largest share in the forecast period and the fastest growth rate among others. The growth is because industries focus on stem cell research, which has shown decent results recently.

However, the plant and animal genetic engineering segments are also expected to grow over the forecast period due to the growing applications of gene editing in agriculture for better crop production with better resistance from infestation and healthier produce and drug discovery in the veterinary sector. 

Genome Engineering Market - By End User:

• Biotechnology & Pharmaceutical Companies
• Contract Research Organizations
• Academic & Research Institutes

The pharmaceutical and biotechnology companies segment is expected to have the highest growth rate in the forecast, as mentioned earlier, due to the increase in the prevalent infectious diseases and cancer, which drive the research to prevent and cure these diseases worldwide.

The academics and research institutes are also expected to have sizable growth during the forecast period due to growing investments in R&D activities relating to biotechnological companies and biologics in the genome engineering field. 

Genome Engineering Market - By Region:

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

Geographically, the North American genome engineering market leads the global market by value and volume as of 2020. The domination of the North American region is anticipated to continue throughout the forecast period. The presence of key market participants in the North American region is one of the major factors supporting the market growth in this region. In addition, countries such as the United States and Canada play a vital role in the success of the North American region.

The European genome engineering market is expected to account for the second-largest global market share during the forecast period. The presence of a considerable customer base in and around this region is helping in the growth of the genome engineering market in Europe, significantly supporting the market growth in this region. Also, the technological supremacy of Europe and North America over the rest of the world is the necessary condition that facilitates them to develop in this emerging field, creating an eye-catching performance in the global market.

The Asia Pacific genome engineering market is predicted to be the fastest-growing regional market in the global market during the forecast period. The presence of emerging economies and the advantages associated with the Asia-Pacific region, such as ease of setup, cheap resources, and the availability of a skillful workforce, are a few factors accelerating the market growth in the Asia-Pacific region. However, the lack of healthcare-related advancements and research initiatives in the Asia-Pacific region is anticipated to limit the market growth in this region.

On the other hand, the Middle East & Africa, and Latin America regions, being in the low developing countries due to the contribution of low GDP countries, have fewer opportunities for market growth. Hence, the Genome Engineering Market grows slowly in these regions.

KEY MARKET PLAYERS:

By the end of 2020, Transposagen Biopharmaceuticals (US), Thermo Fisher Scientific (US), Editas Medicine, Inc. (the US), Merck (Germany), Lonza Group (Switzerland), OriGene Technologies (US), Horizon Discovery Group (UK), Intellia Therapeutics, Inc. (US), GenScript (US), Sangamo BioSciences (US), Cellectis S.A. (France), Integrated DNA Technologies (US), Bluebird Bio, Inc. (the US), New England Biolabs (US), Editas Medicine (US), Sigma-Aldrich Corporation (US), and CRISPR Therapeutics (Switzerland) are the leading shareholders of the global market for Genome Engineering. There is constant competition between these companies regarding the pricing and quality of the product. They are currently focused on providing expansion strategies to improve their market value and position.

Key highlights of the report:

• The evaluation of the current product and services market and the future implications of the market.
• Address the matter by better understanding the market through size estimates and CAGR analysis to forecast the future market.
• More extensive segmentation to better understand the market dynamics at a minimal level by dividing the market into smaller segments.
• Address the critical market challenges, drivers, and restraints to provide insights for gaining market share.
• Porter’s Five Forces are used to analyze the factors responsible for the shaping of the industry due to the competitive environment.

RECENT HAPPENINGS IN THIS MARKET:

• In December 2022, Tessera made significant investments in high-throughput DNA and RNA production to conduct extensive high-throughput screening. According to Rubens, Tessera routinely creates thousands of DNA plasmids each month, often converted into hundreds of different RNAs. Then, utilizing automated cell-handling equipment for transfections and cell passages, these RNAs are introduced into the cells.
• In December 2022, the largest genetic research organization in the world, BGI Group of China, is being investigated in Europe and is subject to U.S. sanctions because of alleged ties to the Chinese military. But in Serbia, the company has been welcomed with open arms.
• In December 2022, an underwritten offering and a private placement, with total gross proceeds of around $115.8 million, have been priced, according to Vor Bio (Nasdaq: VOR), a clinical-stage cell and genome engineering firm.
• In December 2022, Primera Therapeutics, the first company to emerge from Mayflower BioVentures' cell and gene therapy (CGT) accelerator program, announced it had collaborated with Cellectis on the development of gene editing techniques for mutations in mitochondrial DNA (mtDNA) as potential in vivo therapies to treat mitochondrial disease.