Disorders like genetic disorders, infectious diseases, and cancer can all be treated with the help of genome editing. Genome editing is a form of genetic modification in which DNA is added, removed, or replaced in an organism with the aid of an engineered nuclease or molecular scissor to treat a specific illness. These nucleases damage DNA at particular sites in the genome to produce double strand breaks.
The market for genome editing in 2021 was USD 5.06 billion, and by 2030, it will be worth USD 21.36 billion, growing at a 17.33% CAGR during the forecast period.
The growing use of Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) genome in various biotechnology fields and rising government and private investment in biotechnology & biomedical research are significant factors propelling market revenue growth.
The genome editing market is expanding due to rising interest in personalized care and rising rates of cancer and other genetic disorders. Additionally, technological enhancement in the field of biotechnology is stimulating the market growth rate. In addition, compared to traditional therapies, the development of effective methods to treat genetic diseases is made possible by advances in genome editing technology. The healthcare sector’s substantial increase in R&D spending and the expansion of the pharmaceutical and biotechnology industries are other factors boosting the market’s expansion. Additional factors supporting the market development include the rising incidence of cancer, the rate of genetic disorders, adequate financing from both public and private bodies, and superior infrastructure.
The development of the market is hampered by the ethical issues surrounding genetic editing, such as safety and high costs associated with gene therapies. Additionally, the market development is limited by the high cost of genome alteration therapies and related treatments and a lack of infrastructure in low- and middle-income countries. Additionally, the lack of public knowledge in less developed nations and the unintended consequences of CRISPR technology restrain market expansion.
The market will develop due to the expansion of cell and gene therapy and the application of CRISPR gene editing in the agricultural industry. However, the market growth is being aided by the rising R&D funding for various study organizations in developing nations. Additionally, the market expansion is influenced by the discovery and treatment of new drugs and human genetic disease identification and management.
On the basis of application, the genome editing market is segmented into plant genetic engineering, animal genetic engineering, and cell line engineering.
In 2022, animal genetic engineering led the entire market with the largest share of 41.21%. The largest share of this segment is due to the extensive enhancement in animal health biotechnology services and the rising need for animal protein.
In terms of technology, the market is segment into zinc finger nucleases, TALENs, and CRISPR/Cas9.
In 2022, the CRISPR segment was the largest market, with 43.09% of the share and USD 2.53 billion in revenue. The largest share is due to the rising demand in the food industry for better products with improved quality & nutrient enrichment. Bacteria are shield from persistent viral invasion by the CRISPR immune system.
On the basis of end-user, the market is segment into biotech and pharma companies, contract research organizations, and research institutes.
In 2022, the biotechnology and pharma companies ruled the entire market with 42.1% of the share and USD 2.48 billion in revenue. The market growth is drive by increasing research and development activities and new trends in the treatment of genetic disorders.
In 2022, North America was the largest market contributor, with 46.34% of the market share and USD 2.72 billion in revenue due to developed healthcare infrastructure. Furthermore, the emergence of animal genetic companies with developed technologies, advanced healthcare programs in this region, and the rising number of laboratories are boosting the growth of this regional market. Additionally, the presence of key players in the US and major investment in R&D programs are also driving market growth.
Furthermore, the Asia Pacific region will expand at a rapid rate due to higher government funding for biotechnology to enhance disease. Additionally, during the forecast period, an unorganized regulatory environment across & within nations, a rise in disposable income, slow adoption of technology, high demand for animal proteins, and a rise in the consumption of animal proteins are all contributing to the market’s development.
- Caribou Biosciences
- Agilent Technologies
- Beam Therapeutics
- Cellectis S.A
- Bluebird Bio
- Beren Therapeutics
- Editas Medicine
- Intellia Therapeutics
- Horizon Discovery Group plc.
- Eurofins Scientific
- Creative Biogene
- CRISPR Therapeutics
- Integrated DNA Technologie
- OriGene Technologies
- Regeneron Pharmaceuticals
- New England Biolabs
- Precision Biosciences
- Sangamo Therapeutics
- Vigene Biosciences
- Tecan Life-Sciences
- Thermo Fisher-Scientific
- Trans-postage Bio-pharmaceuticals
The market for genome editing in 2021 was USD 5.06 billion, and by 2030 it will be worth USD 21.36 billion, growing at a 17.33% CAGR during the forecast period. An increase in the number of genomics initiatives and government funding drives the market for genome editing.
Research people group are investigating the capability of quality change instruments like CRISPR. As a potential fast evaluating answer for the Coronavirus genome. For example, in December 2020, specialists from Gladstone Establishments fostered a CRISPR-based test that utilizes cell phones to convey results. Likewise in June 2020, specialists from Stanford College have created – PAC-MAN a quality change device in light of CRISPR innovation. This apparatus obliterates SARS-CoV-2 inside human cells.
Expanding use of the quality adjustment devices in remedial examination has brought. About the rising number of cutting edge therapeutics entering clinical preliminaries. Besides, the utilization of man-made reasoning to propel the execution of novel quality adjustment frameworks shows extraordinary potential for the innovation designer. This is expect to lean toward the market income within a reasonable time-frame enormously.
The market is suppose to extend at a CAGR of 22.9% from 2021 to 2028. The outcome of CRISPR/Cas9 innovation in 2020 combined with mechanical advances in Record Activator-Like Effector Nucleases (TALENs). And Zinc-finger Nucleases (ZFNs) regarding effectiveness has driven the market.
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