Genome Editing Market is anticipated to reach USD8711.24 million by 2026
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, Competition
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 period 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 is 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
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Global Genome
Editing Market"
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The global genome editing market is segmented based on technique, application, delivery method,
end-user, region and company. 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, Competition
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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