Overview and Scope
Genome editing is a technique that enables scientists to alter the DNA of numerous organisms, including plants, bacteria, and animals. With the help of genome editing technologies, researchers would alter DNA, changing physical characteristics like eye colour and the risk of contracting diseases. Genome editing is used in animal models and cells in research labs to understand diseases.
Sizing and Forecast
The genome editing/genome engineering market size has grown rapidly in recent years. It will grow from $7.23 billion in 2023 to $8.57 billion in 2024 at a compound annual growth rate (CAGR) of 18.6%. The growth in the historic period can be attributed to increasing research in genetics and genomics, rise in genetic diseases, gene therapy advancements, investments in biotechnology and life sciences, potential for agricultural applications, application in model organisms..
The genome editing/genome engineering market size is expected to see rapid growth in the next few years. It will grow to $17.16 billion in 2028 at a compound annual growth rate (CAGR) of 18.9%. The growth in the forecast period can be attributed to emergence of prime editing, focus on ethical and regulatory frameworks, increasing adoption in drug discovery, therapeutic potential for genetic disorders, customization for gene function studies, growing interest in epigenome editing.. Major trends in the forecast period include advancements in crispr technology, growing applications in therapeutics, emergence of new genome editing tools, investments and partnerships, enhanced delivery systems, integration of artificial intelligence (ai) in genome editing design..
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Segmentation & Regional Insights
The genome editing/genome engineering market covered in this report is segmented –
1) By Product And Service: Reagents And Consumables, Software And systems, Services
2) By Technology: CRISPR, TALEN, ZFN, Antisense, Other Technologies
3) By Application: Cell Line Engineering, Genetic Engineering, Diagnostic Applications, Drug Discovery And Development, Other Applications
4) By End User: Biotechnology Companies, Pharmaceutical Companies, Academic And Government Research Institutes
North America was the largest region in the gene editing/genome engineering market in 2023. Asia-Pacific is expected to be the fastest-growing region in the genome editing/genome engineering market report during the forecast period. The regions covered in the genome editing/genome engineering market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rise in the prevalence of cancer and other genetic disorders is expected to propel the growth of the genome editing/genome engineering market going forward. Cancer is a condition wherein a few of the body’s cells grow out of control and spread to other body regions. Genome editing can quickly engineer immune cells and oncolytic viruses for cancer therapeutic applications. For instance, in February 2022, according to an article published by the World Health Organization (WHO), a Switzerland-based United Nations health agency, nearly 10 million deaths, or nearly one in six deaths, were caused by cancer, making it the leading cause of death worldwide. Further, in June 2022, according to a report published by the Centers for Disease Control and Prevention (CDC), a US-based national public health agency, 1,752,735 new cases of invasive cancer in total, including 863,830 women and 888,905 men, were reported in the US in 2019. The incidence rate for all cancers was 439 per 100,000 people in the general population. Therefore, the rise in the prevalence of cancer and other genetic disorders is driving the growth of the genome editing and genome engineering market.
Key Industry Players
Major companies operating in the genome editing/genome engineering market report are Thermo Fisher Scientific Inc., Merck Group, Genscript Biotech Corp, Sangamo Therapeutics Inc., Lonza Group AG, Editas Medicine Inc., CRISPR Therapeutics AG, Agilent Technologies Inc., Intellia Therapeutics, bluebird bio Inc., Transposagen Biopharmaceuticals Inc., Tecan Trading AG, Precision BioSciences, PerkinElmer Inc., Cellectis S.A, Applied StemCell Inc., Bio-Rad Laboratories Inc., Bio-Techne, Creative Biogene, Cyagen Biosciences, Dharmacon Inc., Eurofins Genomics LLC, Evotec SE, GeneCopoeia Inc., Genewiz, Horizon Discovery Group plc, Inscripta Inc., Integrated DNA Technologies Inc., MaxCyte Inc., New England Biolabs, Novartis International AG.
The genome editing/genome engineering market report table of contents includes:
1. Executive Summary
2. Genome Editing/Genome Engineering Market Characteristics
3. Genome Editing/Genome Engineering Market Trends And Strategies
4. Genome Editing/Genome Engineering Market – Macro Economic Scenario
5. Global Genome Editing/Genome Engineering Market Size and Growth
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31. Global Genome Editing/Genome Engineering Market Competitive Benchmarking
32. Global Genome Editing/Genome Engineering Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Genome Editing/Genome Engineering Market
34. Genome Editing/Genome Engineering Market Future Outlook and Potential Analysis
35. Appendix
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