Global Genome Editing/Genome Engineering Market

The global genome editing/genome engineering market was valued at USD 3.8 billion in 2020 and is projected to reach USD 9.93 billion with a CAGR of 14.7% during the forecast period, 2021-2027. The increasing use of genome editing/genome engineering, rising Clustered regularly interspaced short palindromic repeats (CRISPR) technology, and advancements in Genome Editing technology are the major factors restoring the growth of the Genome Editing/Genome Engineering Market. Furthermore, the increasing use of genetically altered crops and the technological advancements in the field. The willingness of the government to provide ample funding for further research and development in the area is among the key factors expected over the forecast period to drive the global market’s growth for genome editing/genome engineering.

What is Genome Editing/Genome Engineering?

Genome engineering, or genome engineering, is a type of genetic engineering that involves inserting, cutting, modification, or replacement of the genome of a living organism. In contrast to early genetic engineering techniques, where genetic material is randomly inserted into the host genome, genome editing is intended for insertion into site-specific locations. Genome editing technologies enable DNA changes, leading to changes in physical traits, similar disease risk, and eye color. These technologies act like cutting the DNA, scissors at an exact spot. Then scientists can add, remove, or replace the DNA. That is due to the increase in companies and organizations’ expenses in research and development are driving the highest growth in the genome engineering market.

Growth Driver

Growing implementation of CRISPR genome editing technology and increasing demand for synthetic genes in various biotechnology fields

Benefits include disruption of target genes, extraction in guide RNA-specific ways, and regulation. These benefits accelerate the adoption of CRISPR / Cas9 technology in a wider range of applications. The clinical application of CRISPR is widely accepted. This is reflected in the increasing number of ongoing clinical trials that use gene-editing techniques to treat various diseases such as cancer, AIDS, and genetic disorders. Apart from human health, this technology is increasingly used in agriculture and livestock.

Opportunities

Availability of research and development grants and funding from government and private institutions

Major industries have invested heavily in research and development to develop Clustered, regularly interspaced short palindromic repeats (CRISPR), Transcription Activator-Like Effector Nuclease (TALEN) technologies. The global genome editing market continues to advance with increasing applications such as mutation, therapy, agriculture and biotechnology. These technologies offer many openings in crop improvement in gene-targeted exchange therapy, which is not yet grasped. The advancements in genome editing/genome engineering technology are projected to create numerous opportunities in the growing Global Genome Editing/Genome Engineering at a considerable rate. In recent years, genome editing technologies have seen crucial technical developments due to the growing availability of research grants and funding from government and private institutions. The presence of increased research activity to develop innovative therapies is a major contributor to segment revenue generation. In addition, global pharmaceutical companies are working with start-ups to develop innovative technologies.

Restraints

Genome editing is hampered by factors such as the high costs of genomic devices and ethical concerns about modifying biological DNA. Ethical issues related to genome editing, such as plants, hinder the market growth. Animal welfare concerns can occur at any stage of a generation, and the longevity of genetically modified animals is hampering the global genome editing market. CRISPR has improved old genome editing techniques, but it is not perfect. For example, occasionally, genome editing tools cut in the wrong place. Scientists are not sure how these errors will affect patients. Assessing the safety of gene therapy and improving genome editing technology is an important step in making this technology available to patients.

Pre-Covid-19 impact on the global Genome Editing/Genome Engineering Market

The genome editing and genome engineering market were operating at a smooth phase in the pre covid period because of the increasing technological advancements and research activities in the healthcare sector, increasing funding from government and private players and growth in the numeral of genomics projects, genome engineering focus on stem cell research, raising awareness about cell line genome editing, the high incidence rate of infectious diseases and cancer among patients, rising demand for synthetic genes, Increase in the invention of genetically modified crops is projected to rise the demand for genome editing and genome engineering market.

Covid-19 impact on the global Genome Editing/Genome Engineering Market

It was declared a global pandemic. Numerous disciplines such as drug development, human genome editing and genome engineering technology are used against covid-19 disease. Most researchers directed their research to study the novel virus and the disease it causes. The world health organization created a solitary, global clinical trial, which is are being tested fours drugs as a possible treatment. The genome-editing tools have been brought to the frontlines in combat with COVID-19. Along with government measures to support the sector, the global genome editing/genome engineering market also showcases the current market landscape during COVID-19. The impact of the virus on large companies, expected industry demand schedules and supply chains, and other important factors. This will help identify which companies may benefit from this pandemic and the losers.

Post-Covid-19 impact on the global Genome Editing/Genome Engineering Market

The genome editing and genome engineering market is projected to run strong in the covid post-period because of the growing demand for genome editing/genome engineering because of the availability of research grants and funding. The COVID19 pandemic has encouraged major biotech and pharmaceutical industries and players in the genomics market to invest in vaccine research and development. The growing demand for vaccines and potential antiviral candidates has brought engineering/genome editing technologies to the front. This technology is increasingly being used in agriculture and livestock, which are factors to the market’s growth for the forecast period.

Technology Segmental Analysis

Based on the Technology, the global genome editing/genome engineering market is segmented into Clustered, regularly interspaced short palindromic repeats (CRISPR), Transcription Activator-Like Effector Nuclease (TALEN), Zinc Finger Nuclease (ZFN), Antisense, and Other. The Clustered regularly interspaced short palindromic repeats (CRISPR) segment captured the largest market share in 2020 and is likely to grow critically during the forecast period, 2021-2027. Clustered, regularly interspaced short palindromic repeats (CRISPR) can use multiple guide RNA parallelly to target multiple sites simultaneously in the same cell. It is used in biotechnological, pharmaceutical, and academic and government research institutes.

Application Segmental Analysis

The global genome editing/genome engineering market is categorized into cell line engineering, genetic engineering, drug discovery & development, diagnostic application, and others. The cell line engineering segment holds the largest market share within 2020 and is expected to grow significantly during the forecast period, 2021-2027. They have clustered regularly interspaced short palindromic repeats (CRISPR) technology is widely used to increase the productivity of CHO cell lines. These cell lines are used in an excellent way to manufacture macromolecular therapeutics. Several factors include increased funding from governments and private organizations and increased attention from various companies to stem cell research.

End-User Segmental Analysis

Based on the end-user, the global genome editing/genome engineering market is categorized into pharmaceutical, biotechnology, academic & government research institute, and others. The biotechnology segment accounted for the highest market percentage in 2020 is likely to generate a sizeable revenue during the forecast period, 2021-2027. The presence of increased research activity to develop innovative therapies is a major contributor to segment revenue generation. In addition, global pharmaceutical companies are working with start-ups to develop innovative technologies.

Product & Service Segmental Analysis

The global genome editing/genome engineering market is segregated into Reagents & Consumables, Software & Systems, and Other based on the Product & Service. The Reagents & Consumables segment captured the largest market share in 2020 and is likely to generate maximum profit during the forecast period, 2021–2027. This is primarily due to repeated purchases of reagents and consumables, increased demand, and multiple uses of editing and sequencing. The growth of genomics applications in various areas is expected to stimulate the consumables market over the forecast period.

Region Segmental Analysis

The global genome editing/genome engineering market is characterized by North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America has the largest market share in 2020 and is estimated to grow significantly during the forecast period, 2021-2027. This growth is concerned with the growing availability of research grants and funding from government and private institutions, driving the region’s market growth.

Competitor Analysis

Companies include Thermo Fisher Scientific Inc., Merck & Co. Inc., Genscript Biotech Corporation, Sangamo Therapeutics Inc., Lonza group lid, Editas Medicine Inc, Crispr Therapeutics AG, New England Biolabs, OriGene Technologies Inc., Integrated DNA Technologies Inc., Tecan Life Sciences, Intellia Therapeutics, Others Prominent Players in the global genome editing/genome engineering market. Key Stakeholders

• Market research and consulting firms
• Industry associations
• Local Governments
• Regulatory bodies
• Suppliers
• Retailers

Recent Developments

• In April 2021, Inscripta installed an Onyx CRISPR-based genome editing platform at the University of Liverpool. Such initiatives are projected to impact market growth positively.
• In Feb 2021, Caribou Biosciences, Inc. and AbbVie signed a license agreement for the research and development of CAR-T therapy.
• In June 2019, BGI signed a partnership agreement with Germany-based biotechnology company Eluthia to develop and market reproductive genetic testing throughout Germany. Such partnerships will intensify market competition shortly.
• In 2018, Inscripta Colorado biotechnology company acquired Solana Biosciences to promote the commercialization of gene-editing technology. This strategy aims to increase access to CRISPR by offering new enzymes for free and enhancing CRISPR research by providing scientists with various tools.

Scope of the Report

Report Attribute	Details
Market Size Value in 2020	USD 3.8 Billion
The revenue forecast in 2027	USD 9.93 Billion
Growth Rate	CAGR of 14.7% from 2021 to 2027.
Historical data	2017-2019
Forecast period	2021 – 2027
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	Thermo Fisher Scientific Inc., Merck & Co. Inc., Genscript Biotech Corporation, Sangamo Therapeutics Inc., Lonza group lid, Editas Medicine Inc, Crispr Therapeutics AG, New England Biolabs, OriGene Technologies Inc., Integrated DNA Technologies Inc., Tecan Life Sciences, Intellia Therapeutics, Others Prominent Players

Market Modelling

By Technology

• Clustered Regularly Interspaced Short Palindromic (CRISPR)
• Transcription Activator-like Effector Nuclease (TALEN)
• Zinc Finger Nuclease (ZINC)
• Antisense
• Others

By Application

• Cell Line Engineering
• Genetic Engineering
• Drug Discovery & Development
• Diagnostic Application
• Others

BY End-User

• Pharmaceutical
• Biotechnology
• Academic & Government Research Institute
• other

By Product & Service

• Reagents & Consumables
• Software & system
• Services

By Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

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