USD 4.81 billion
Report ID: SQSG35J2001 | Region: Global | Published Date: April, 2023 | Pages: 157
Genome Editing Market size was valued at USD 4.81 billion in 2021 and is poised to grow from USD 5.88 billion in 2022 to USD 36.06 billion by 2030, growing at a CAGR of 22.3% in the forecast period (2023-2030).
Genome editing is a technique for making changes to the DNA of a cell or an organism. The process entails cutting DNA sequences to add or remove DNA from the genome. Changes to the genome are made to provide the cell with the traits it needs. Various governments worldwide are expanding their assets and awards to foster genome-altering research. Attributable to genome altering's benefits, governments are also supporting public and private examination and scholastic foundations for expanding the exploration exercises for genome altering and hereditary designing. Hence, this leads to positive Genome Editing Market growth in the given forecast period.
The rising predominance of disease and other hereditary issues, expanding inclination for customized medication, increase in R&D consumption and development of biotechnology and drug businesses, ascend in private and public area financing, quick progressions in sequencing, and Genome Editing advancements are factors impelling the genome editing market.
The increasing use of CRISPR genome editing technology, combined with rising synthetic gene demand in a variety of biotechnology domains, has primarily driven market growth in recent years.
Furthermore, the Genome Editing Market is witnessing increased competition among market players as a result of the expanding applications of genome editing tools. The highly adaptable CRISPR technology has received increased attention. For instance, in April 2021, Vertex Pharmaceuticals paid CRISPR Therapeutics USD 900 million to develop, manufacture, and commercialize CRISPR-Cas9 gene-edited therapy for beta-thalassemia and sickle cell disease. Such initiatives are expected to boost the Genome Editing Market growth.
US Genome Editing Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 4.81 billion
Largest Segment
CRISPR
Fastest Growth
CRISPR
Growth Rate
22.3% CAGR
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The Global Genome Editing Market is segmented based on Technology, Delivery Method, Mode, End-use, Application, and Region. Based on Technology it is categorized into CRISPR, TALEN, ZFN, Antisense, and Other Technologies. Based on the Delivery Method it is categorized into Ex-vivo and In-vivo. Based on Mode it is categorized into Contract, In-house. Based on End-use it is categorized into Biotechnology & Pharmaceutical Companies, Academic & Government Research Institutes, and Contract Research Organizations. Based on the Region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Genome Editing Market Analysis by Technology
In 2021, the CRISPR/Cas9 segment dominated the market, accounting for 40.2% of revenue. With its technical advantages, this technique has revolutionized the genome manipulation space. The benefits include targeted gene disruption, guide RNA-specific recovery, and regulation. These benefits have accelerated the adoption of CRISPR/Cas9 technology in a relatively broad range of applications.
CRISPR clinical applications have found widespread applications. This is evidenced by the growing number of ongoing clinical trials using gene-editing techniques to treat a variety of diseases such as cancer, AIDS, and genetic diseases. Apart from human health, this technology is increasingly being used in agriculture and animal breeding.
Genome Editing Market Analysis by End-User
In 2021, the biotechnology and pharmaceutical companies segment dominated the market, accounting for 48.4% of revenue. The rising number of research activities for novel therapeutic development is a major contributor to segment revenue generation. Furthermore, global pharmaceutical companies are working with emerging companies to develop new technologies. For instance, in April 2021, CANbridge Pharmaceuticals, Inc. and LogicBio Therapeutics, Inc., signed a strategic collaboration and licensing agreement to address rare and serious diseases. CANbridge Pharmaceuticals, Inc. obtained rights to the latter company's gene-editing platforms as a result of this agreement. Similarly, in October 2020, Scribe Therapeutics and Biogen announced a collaboration to develop CRISPR-based genetic medicines for neurological diseases such as Amyotrophic Lateral Sclerosis.
On the other hand, Government research and academic institutes, are expected to grow rapidly over the forecast period as gene-editing technologies become more widely used in university-level projects. The active participation of research institutes contributes to the segment's growth. For instance, Baylor College of Medicine, Rice University, and the Whitehead Institute are all actively involved in efforts to advance genome editing.
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North America dominated the genome editing market in 2021, accounting for 38.4% of total revenue. The dominance of the Genome Editing Market in the region is due to the availability of strong research, as well as a commercial base for advanced therapeutic development, as well as a large number of clinical studies being undertaken for gene and stem cell therapies in the region. On the other hand, the market in the Asia Pacific is expected to expand at a rapid rate over the projected period. China unveiled its 10 most significant agricultural breakthroughs in November 2020, one of which was gene-editing technology, demonstrating strong Genome Editing Market penetration.
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Genome Editing Market Driver
Genome Editing Market Restraint
The advanced functionalities and features of Genomic instruments are a significant reason for its premium pricing. Its pricing ranges between USD 10-20 million. The small and medium sized laboratories and Pharmaceuticals companies cannot afford the equipment at such high cost. which can be the major restraint in the expansion of the market.
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The market's various competitors are challenged to provide innovative offerings that enable communication in addressing changing technologies, business practices, and security needs. Partnerships, strategic mergers, and acquisitions are expected to be the most effective ways for industry players to gain quick access to emerging markets while also improving technological capabilities. Custom vectors for cell line editing and engineering are provided by well-established companies such as Merck KGaA and Thermo Fisher Scientific. Such services are anticipated to grow in the coming years, fueling revenue growth. Contract manufacturers would benefit from the rapidly increasing demand from gene therapy Genome Editing Market players.
Genome Editing Market Top Players Company Profiles
Genome Editing Market Recent Developments
In January 2022,The researchers and developers working on the plant in England will have easier access to genetic technology such as Gene editing.
In February 2022, Integrated DNA Technologies unveiled Alt-R HDR Donor Blocks, an improved solution for increasing homology-directed repair (HDR) rates. Alt-R HDR Donor Blocks are the latest addition to IDT’s complete portfolio of Alt-R CRISPR genome editing solutions.
In February 2022, Intellia Therapeutics, Inc. and Regeneron Pharmaceuticals, Inc. announced the positive interim data from an ongoing Phase I clinical study of their lead in vivo genome editing candidate, NTLA-2001 (Investigational Crispr Therapy For Transthyretin (Attr) Amyloidosis).
In April 2021, Researchers at Harvard's Wyss Institute for Biologically Inspired Engineering created Retron Library Recombineering (RLR), a new gene-editing tool that allowed for the simultaneous execution of millions of genetic experiments, resulting in higher editing rates.
In March 2021, A team of Nanyang Technological University researchers created a diagnostic test called VaNGuard (Variant Nucleotide Guard) that is based on CRISPR technology. This test can detect mutated SARS-CoV-2 strains, which will increase the use of CRISPR genome editing technology in diagnostics.
In November 2020, Eli Lilly and Company collaborated with Precision BioSciences, Inc. to develop potential in-vivo therapeutics for genetic disorders using the latter company's proprietary ARCUS genome editing platform. Such collaborations have heightened market competition, resulting in organic revenue growth.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. SQ identified the key dominating segments of the Genome Editing Market by offerings and verticals.
According to our analysis, the personalized medicine Genome Editing Market is expected to provide opportunities for players in the genome editing market. Personalized medicine allows doctors to quickly identify a patient's specific requirements and then prescribe medications and treatments to meet those needs. Personalized medicine is becoming more popular around the world due to its potential for cost savings, improved patient compliance, early disease detection, and therapy optimization.
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Report Metric | Details |
---|---|
Market size value in 2021 | USD 4.81 billion |
Market size value in 2030 | USD 5.88 billion |
Growth Rate | 22.3% |
Base year | 2021 |
Forecast period | 2023-2030 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered | s Company Profiles
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Genome Editing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Genome Editing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Genome Editing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Genome Editing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Basic Plan $5,000 Team Plan $10,000 SUBSCRIBE NOWThe Global Genome Editing Market was valued at USD 5.25 Billion in 2021, and it is expected to reach a value of USD 17.02 Billion by 2028, at a CAGR of 18.30% over the forecast period (2022 - 2028).
The market's various competitors are challenged to provide innovative offerings that enable communication in addressing changing technologies, business practices, and security needs. Partnerships, strategic mergers, and acquisitions are expected to be the most effective ways for industry players to gain quick access to emerging markets while also improving technological capabilities. Custom vectors for cell line editing and engineering are provided by well-established companies such as Merck KGaA and Thermo Fisher Scientific. Such services are anticipated to grow in the coming years, fueling revenue growth. Contract manufacturers would benefit from the rapidly increasing demand from gene therapy Genome Editing Market players.'Thermo Fisher Scientific (US)','Merck KGaA (Germany)','GenScript (China)','Sangamo Therapeutics (US)','Lonza (Switzerland)','Editas Medicine (US)','CRISPR Therapeutics AG (Switzerland)','Tecan Life Sciences (Switzerland)','Precision Biosciences (US)','Agilent Technologies (US)'
Governments in various countries around the world have made significant investments in the field of genomics in recent years, which has played a significant role in the development of new technologies in genome editing. Furthermore, the availability of government funding has enabled academic and government institutes to conduct in-depth genome editing/engineering research. For instance, in March 2020, the Ministry of Innovation, Science, and Industry (Science) announced a USD 15 million grant to Genome Canada to support 11 genomic research projects in the health, agriculture, and environment sectors. Provincial governments, businesses, and research partners will also contribute to these projects, with a total investment of USD 29.7 million. Ovarian and cervical cancer research is among the projects. The number of genomics research projects has increased significantly as a result of significant government investments in genomics. As a result, the genome editing market is expected to grow during the forecast period.
The COVID-19 pandemic has prompted major pharmaceutical and biotechnology firms, as well as players in the genomic market, to invest in vaccine research and development. The increased demand for vaccines and antiviral candidates has pushed genome editing/engineering technologies to the forefront, these factors are expected to drive the Genome Editing Market in the upcoming years.
North America dominated the genome editing market in 2021, accounting for 38.4% of total revenue. The dominance of the Genome Editing Market in the region is due to the availability of strong research, as well as a commercial base for advanced therapeutic development, as well as a large number of clinical studies being undertaken for gene and stem cell therapies in the region. On the other hand, the market in the Asia Pacific is expected to expand at a rapid rate over the projected period. China unveiled its 10 most significant agricultural breakthroughs in November 2020, one of which was gene-editing technology, demonstrating strong Genome Editing Market penetration.
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