Global Gene Editing Market Overview
The key drivers impacting the gene-editing market are the growing fundings by governments in genetic research worldwide. For instance, The federal government invested $3.8 billion in the HGP through its completion in 2003 ($5.6 billion in 2010 $). Similarly, in June 2020, The RDM Positive Impact Foundation is funding an ambitious $1.25 million research project at the UC Davis MIND Institute to study rare genetic conditions. Moreover, growing awareness regarding the availability of genetically modified crops and animals contributes to gene editing market demand in the later years.
According to Value Market Research, the global gene editing market size was valued at about USD 4.6 billion in 2020 and is estimated to grow at a CAGR of around 15% during the forecast period 2021 to 2027.
The Technology advancements in gene editing will likely augment the need for gene editing in the forecast period. Also, the growing utilization of synthetic genes in integrating newer biosynthetic pathways in microorganisms to produce biologics is adding growth to the market. However, the slow adoption rate of gene editing due to the dearth of awareness hinders the market. In addition, the high R&D cost impedes the growth of the market. Nonetheless, the market trends, such as processing applications of gene editing in the food industry and the rising use of gene editing for satellite communication and computing, might provide huge opportunities to the market's leading players.
The gene-editing market is extensive, with many regional and international players. The key players follow innumerable strategies to build up their market, such as extending product portfolio, amalgamation, acquisitions, contracts, product upgrades to raise their market share globally. The key players in the report are Integrated DNA Technologies, Thermo Fisher Scientific, Agilent Technologies, Takara Bio, EMD Millipore (Merck KGAa), Horizon Discovery, Sangamo Therapeutics, Origene Technologies, and Caribou Biosciences.
In this research report, the gene-editing market is segmented by application, technology, end-user, and region.
Analysis by Technology
By technology, the report is segmented into CRISPR/Cas9, zinc finger nucleases (ZFNs), talens, and others. The CRISPR/Cas9 segment dominates with the highest market share in the forecast period. It is due to the rising demand for CRISPR/Cas9 in varying the genome of organisms to expand commercially feasible products. Moreover, CRISPR technology is simple, easy to use, and reasonably priced as compared to other gene-editing techniques such as TALENs, thereby contributes to the growth of CRISPR/Cas9 in the forecast period.
Analysis by Application
By Application, the report is divided into cell line engineering, animal genetic engineering, plant genetic engineering, and others. The cell line engineering segment dominates the application segment with a market share of 61% in 2020. It is due to the Cell-line engineering technology has broad applications in stem cell research, particularly for induced pluripotent stem cells (iPSCs), that aids in genetically modifying the stem cell resulting in the rapid growth of iPSCs lines. Moreover, recent advances in gene-editing techniques, including CRISPR/Cas, TALENs, and Zinc Finger Nucleases (ZFNs), have made cell engineering easy and cheaper, contributing to the high market demand from the disease screening.
Analysis by End-User
By end-user application, the report is segmented into biotech and pharma companies, contract research organizations (CROs), and research institutes. The biotech and pharma companies segment dominates the end-use segment with a 47% market share in 2020. It is due to the increasing focus of biotech companies on developing advanced gene-editing technologies. Moreover, the technological advancements in gene editing enable market players to develop advanced technologies that are efficient enough in the treatment of a specific genetic disease as compared to the conventional therapies add to the high market demand from the biotech and pharma companies sector.
Analysis by Region
In the regional outlook of the global gene editing market, the North America region dominates with the largest market share in 2020. It is due to the growing prevalence of rare diseases in Canada and the U.S. Moreover, developed nations such as the U.S. has a noteworthy adoption rate of gene editing technologies such as TALENs, CRISPR-Cas9, and ZFNs due to a boost in research activities and affordability of high-end technologies contribute to the tremendous market growth across North America.
Market Segmentation covered in the Report:
By Application
- Cell line engineering
- Animal genetic engineering
- Plant genetic engineering
- Others
By Technology
- CRISPR/Cas9
- Zinc Finger Nucleases (ZFNs)
- TALENs
- Others
By End-user
- Biotech And Pharma Companies
Contract Research Organizations (CROs)
Research Institutes
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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