The gene editing market value is expected to grow at a CAGR (Compound Annual Growth Rate) of about 14.7% to reach USD 19.4 billion over the forecast 2020-2030. Increasing funding to boost genomics Research & Development, rising frequency of genetic illnesses and chronic conditions, and increasing developments in gene therapy are important drivers fueling the market expansion.
Genes are the fundamental biological code that determines a cell's specialized function and governs heredity. To defend themselves against viruses, bacteria, and fungus, cells have developed a unique method. Gene editing is a bimolecular approach to modifying DNA, including genetic components from plants, animals, or humans. Gene editing involves inserting, deleting, or replacing DNA in an organism's genome to treat certain disorders.
Genome alteration is a revolutionary invention in medicine. It has evolved from something that was previously difficult to do with standard laboratory technologies. Gene editing has sparked interest in research institutes and medical innovation because of its capacity to correct genetic abnormalities that might cause disease. This approach aids in the creation and regulation of genetic data in patient cells. It is currently critical in drug development and diagnosis and precision medicine, which is propelling the gene alteration industry forward.
With the rise of the Covid-19 impact, many large-scale businesses and industries suffered, except healthcare and life support products. The lockdown and physical distancing protocols have affected millions of small and big business institutions alike. The genome editing market saw a slight downfall due to the lockdown and physical distancing.
The increasing use of genome editing techniques such as CRISPR to alter genomes and eradicate SARS-CoV-2 cells within human cells has also helped the gene editing market valueand revenue growth. Hence, the industry will witness a substantial increase in the coming years.
The growing use of gene editing in medicines and the agricultural sector, the advancement of CRISPR-based testing equipment, and fast technological advances in genetic editing are likely to fuel market revenue growth throughout the forecast period. Other significant drivers projected to fuel gene editing market growth in the future include advances in medication discovery and development and increased government incentives to boost genomics research.
Due to multiple major and minor significant players, the gene editing market seems fragmented. These market participants attempt to acquire a competitive edge through strategic initiatives such as partnership, acquisition, expansion, cooperation, and product and technology launches. Growing investment to enhance genomics R&D, rising frequency of genetic illnesses and chronic conditions, and rising developments in genetic engineering are important drivers fueling the gene editing market share.
Some factors may hinder the global genome alteration market growth. Over the forecast years, ethical problems concerning genetic editings, such as safety and high costs involved in gene therapies, are estimated to inhibit market growth to some extent. Market restrictions can also include stringent regulatory laws and negative public perceptions of genetic studies.
There are various concerns with the market that may challenge the key players of the gene editing market. This includes the cost of genetic editing solutions. High treatment and maintenance costs for genome alteration therapies and related treatments and a lack of infrastructure in medium and low-income nations may limit the expansion of the market.
The gene editing market is anticipated to grow at an exceptional speed in the years to come. The genome alteration market value is expected to grow at a CAGR of about 18.3% over the forecast years. Increasing funding to boost genomics Research & Development, rising frequency of genetic illnesses and chronic conditions, and increasing developments in gene therapy are important drivers fueling the market expansion.
In virtually all eukaryotic organisms, gene editing has broadened the reach of deliberately targeting and changing gene sequences. Genome editing refers to a set of technologies that allow for modifying and altering an organism's DNA. These techniques allow for the insertion, removal, or modification of genetic code at specific points in the gene.
Advances in genome alteration technologies and genetic engineering, increased use of CRISPR genome altering in stem cell treatments, rising prevalence of autoimmune illnesses and cancer, and a growing focus on stem cell research are all adding to the revenue growth of the cell line engineering segment. Gene editing market has been widely utilized to comprehend the pathophysiology of various human diseases, contributing to the emergence of improved gene treatments to cure deadly illnesses, including cystic fibrosis and diabetes.
Figure 1- Global Gene Editing market, by methods
Source- Annual reports, Press release, White paper, Company Presentation
The globalgene editing market is classified into many segments such as methods, application, and end-user. Listed below are the genome altering market segments:
The regional division of the gene editing market analysis comprises North America, Europe, Asia Pacific, and the rest of the world. The United States has become the market leader due to significant advancements in drug discovery research, an increase in the number of research studies, the expansion of the biotechnology industry, and other factors. Europe has traditionally put money into technological advancements to improve treatment options.
The bioscience market in the Asia Pacific is growing at the fastest rate. This is because of the increasing government funding for the biotechnology industry to improve illness treatment. Limited development in the biotechnology sector in the Middle East and Africa will hinder genome alteration market expansion due to a lack of technical understanding.
The gene editingindustry is dominated by a few companies that play a vital role in market growth. These genome alteration provider companies are called key companies of the market. They contribute to the largest share of the market profit.
The companies account for the market profits by adopting various gene editing market trends such as joint ventures, product launches, company expansions, and procurements. They provide innovative solutions for gene alteration.
Below are the key companies that offer genome alteration solutions in the global market, along with the location of their headquarters:
This report delivers all the information about the global gene editing market size in the forecast period. It also contains different sections of the market analysis to help obtain detailed information such as opportunities, challenges, drivers, Covid-19 analysis, regional analysis, competitive landscape, and others. Moreover, all the information is collected from verified primary and secondary sources to provide the expected gene editing market outlook for 2027.
|Market Size||2030: USD 19.4 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Methods, Applications and End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||GenScript USA Inc. (U.S.), Horizon Discovery Group plc (U.K.), Integrated DNA Technologies, Inc. (U.S.), Lonza Group Ltd. (Switzerland), New England Biolabs, Inc. (U.S.), OriGene Technologies, Inc. (U.S.), Sangamo Biosciences, Inc. (U.S.), Sigma-Aldrich Corporation (U.S.), Thermo Fisher Scientific, Inc. (U.S.), and Transposagen Biopharmaceuticals, Inc. (U.S.)|
|Key Market Opportunities||Increasing government support to boost biotechnology sector for better treatment of diseases|
|Key Market Drivers||
Gene editing is a bimolecular method for targeted modification of DNA, including the genetic materials of plants, animals, and humans. In gene editing, a DNA strand is inserted, deleted, or replaced in the genome of an organism to treat particular diseases or other specific conditions.
Leading players in the Gene Editing Market include Lonza, Sangamo, and Sigma-Aldrich, among others.
Increasing awareness about the role of genetics in the development of a number of chronic diseases is the major driver for the Gene Editing Market.
The Americas is the leading regional market, driven by the U.S.
CRISPR holds the largest share in the Global Gene Editing Market.