Gene Editing Market Size to Reach USD 18.50 Billion in 2028 | Industry Trend – Extensive Use of Gene Editing in Development of Personalized Medicine
Emergen Research has published its latest report titled “Gene Editing Market, By Technology (CRISPR/Cas-9, TALENS, ZFN, ANTISENSE, Others), By Application (Cell Line Engineering, Animal Genetic Engineering, Plant Genetic Engineering, Diagnostic Applications, Drug Discovery and Development, Others), By End-use (Biotechnology and Pharmaceutical Companies, Academic and Government Research Institutes, Contract Research Organizations, Others), and By Region Forecast to 2028”
According to Emergen Research, the global gene editing market size was USD 5.20 billion in 2020 and is expected to reach USD 18.50 billion in 2028 and register a revenue CAGR of 17.2% during the forecast period, 2021-2028.
The global gene editing market revenue growth is majorly attributed to factors such as growing prevalence of chronic and genetic disorders globally, increasing research & development activities in the field of genomics, continuous advancements in gene therapy, and increasing applications of genome editing technologies in the pharmaceutical, biotechnological, and agricultural sectors. Technological advances in gene editing tools, rapid spread of the novel coronavirus worldwide, and increasing use of CRISPR-based diagnostic tools to detect the SARS-CoV-2 virus are among the other key factors expected to drive the global market revenue growth over the forecast period.
Genome editing refers to the process that modifies and changes the DNA of organisms. The latest upgrades in gene editing techniques, such as CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) and CRISPR-Cas9, are revolutionizing the field of genomics. Genome editing helps understand the pathophysiology of a wide range of human diseases, and advanced gene therapies are being used in treatment of various life-threatening diseases such as diabetes and cancer.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
CRISPR/Cas-9 Segment Accounted for Largest Revenue Share in 2020:
Based on technology, the global gene editing market is segmented into CRISPR/Cas-9, TALENS, ZFN, ANTISENSE, and Others. The CRISPR/Cas-9 segment accounted for the largest revenue share in the global market in 2020. Increasing clinical applications of the CRISPR/Cas-9 technology, such as treatment of complex genetic diseases, cancer, and AIDS, continuous advances in gene editing systems, increasing R&D programs in genetic engineering, and rising focus of pharmaceutical and biotechnology companies on stem cell research are key factors driving revenue growth of this segment.
Biotechnology and Pharmaceutical Companies Segment to Account for Fastest Revenue CAGR:
Based on end-use, the global gene editing market is segmented into Biotechnology and Pharmaceutical Companies, Academic and Government Research Institutes, Contract Research Organizations (CROs), and Others. The biotechnology and pharmaceutical companies segment is projected to register the fastest revenue growth rate in the global market over the forecast period. Factors contributing to the revenue growth of this segment are rising prevalence of chronic and genetic disorders worldwide, rapid spread of infectious diseases such as the novel coronavirus disease, technological advancements in genome editing, increasing research & development projects in genomics, and growing demand for novel therapeutics.
North America Accounted for Largest Revenue Share in 2020:
The North America gene editing market dominated other regional markets in terms of revenue share in the global market in 2020. Growing prevalence of chronic and genetic diseases, rapid spread of the coronavirus disease, increasing research & development activities in genetic engineering, availability of state-of-the-art healthcare infrastructure, and robust presence of key market players in the region, such as Thermo Fisher Scientific, Lonza, Agilent Technologies Inc., and PerkinElmer Inc., are key regional market growth drivers.
Major Companies in the Global Gene Editing Market Include:
- Thermo Fisher Scientific
- Merck KGaA
- Sangamo Therapeutics
- Editas Medicine
- CRISPR Therapeutics AG
- Tecan Life Sciences
- Precision Biosciences
- Agilent Technologies Inc.
- PerkinElmer Inc.
- Cellectis S.A.
- Intellia Therapeutics
- Bluebird Bio
- Regeneron Pharmaceuticals
- Vigene Biosciences
- Beam Therapeutics
- Creative Biogene
- Transposagen Biopharmaceuticals
- Integrated DNA Technologies
- New England Biolabs
- OriGene Technologies
- Caribou Biosciences
For the purpose of this report, Emergen Research has segmented the global gene editing market on the basis of technology, application, end-use, and region:
Technology Outlook (Revenue, USD Billion; 2018-2028)
Application Outlook (Revenue, USD Billion; 2018-2028)
- Cell Line Engineering
- Animal Genetic Engineering
- Plant Genetic Engineering
- Diagnostic Applications
- Drug Discovery and Development
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Biotechnology and Pharmaceutical Companies
- Academic and Government Research Institutes
- Contract Research Organizations (CROs)
Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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