Detailed analysis of genome editing market

Genome editing, commonly referred to as gene editing, is a series of scientific techniques that allow for modifying an organism’s DNA. This process is now significantly more accessible, effective, and adaptable than before because of the introduction of fresh methods built on the CRISPR-Cas9 system. 

The market worth of genome editing in 2021 was USD 5.06 billion, and it will be worth USD 21.36 billion by 2030, growing at a 17.33% CAGR during 2021-2030.

Important factors that will significantly contribute to the revenue growth of the genome editing market include the rapid advancements in gene-editing technologies, rising public and private investment in biotechnology and biomedical research, and expanding applications of gene-editing technology in areas like gene therapy, therapeutics, mutations, agricultural biotechnology, and others.

Market Dynamics

Drivers

The growing application of genome engineering in the therapy and treatment of chronic conditions drives market expansion. The expansion of the market is driven by early, precise, and speedy treatment of chronic and infectious diseases employing transcriptome, genomic, or other multi-omics cells. Additionally, funding from commercial and public sectors, the advancement of CRISPR gene editing technology, and the expansion of gene therapy are all contributing to the market’s expansion. Furthermore, the continuous prevalence of chronic and infectious diseases, including HIV/AIDS, malaria, hepatitis, TB, and others, has led to increased use of genome editing in treating these illnesses in recent years. 

Restraints

Long government approval processes for approving GM items and widespread misconceptions about GM products are the main barriers to the market for genome editing.

Opportunity 

The market is expanding because of the antiviral uses for treating incurable diseases like hepatitis B, HIV, and herpes. The more significant applications include biotechnology, genetically modified crops, and pharmaceuticals. Additionally, one of the major reasons for market growth is the expansion of the cell and gene therapy field and the potential of CRISPR gene editing in the agricultural industry. However, the market expansion is driven by the rising R&D funding for various research institutions in developing nations. Additionally, the market expansion is driven by the discovery and treatment of new medications and human genetic disease detection and management.

Market Segmentation

On the basis of application, the genome editing market is segmented into cell line engineering, plant genetic engineering, and animal genetic engineering.

In 2022, animal genetic engineering segment held a maximum market position with 41.21% of the revenue share. The growing advancements drive the market expansion of this segment in animal health biotechnology services and the growing need for animal protein.

By technology, the genome editing market is segmented into ZFN, Antisense, CRISPR, Talen, and others.

The CRISPR segment held a maximum market position with the greatest share of 43.09% and generated USD 2.53 billion in 2022. CRISPR is an important element of the immune system. Market growth is due to the ever-increasing need in the food business for better products with enhanced quality & nutrient enrichment. Bacteria are shielded against persistent viral infection by the CRISPR immune system. Its applications have a significant impact on our understanding of the genetic underpinnings of many carcinomas.

On the basis of end-user, the genome editing market is segmented into biotech & pharma companies, contract research organizations, and research institutes. 

The biotech and pharma companies segment led the entire market with the largest revenue share of 42.16% and generated revenue of USD 2.48 billion in 2022. The growth of this market segment is due to the increasing R&D activities and emerging trends in curing genetic diseases.

Regional Analysis

North America was the largest market in terms of the region in 2022, with a revenue share of 46.34%. Due to its more developed healthcare system, North America controls the majority of the genome editing market. Additionally, the presence of healthcare programs, an increase in laboratories, and the significant penetration of animal genetic enterprises with cutting-edge technology all contribute to the market growth in this area. Additionally, the substantial investment in R&D activities and the presence of large market players in the US contribute to the market’s expansion. Due to increased government financing for biotechnology to enhance illness treatment, the Asia Pacific region will grow at a rapid rate during the forecast period.

Key Players 

• Bluebird Bio
• Caribou Biosciences
• Beam Therapeutics
• Cellectis S.A
• Editas Medicine
• Agilent Technologies
• Beren Therapeutics
• Creative Biogene
• Intellia Therapeutics
• Eurofins Scientific
• CRISPR Therapeutics
• Horizon Discovery Group plc.
• GenScript
• Merck
• Integrated DNA Technologie
• Lonza
• OriGene Technologies
• PerkinElmer
• Regeneron Pharmaceuticals
• New England Biolabs
• Precision Biosciences
• Recombinetics
• Synthego
• Vigene Biosciences
• Sangamo Therapeutics
• Thermo Fisher-Scientific
• Tecan Life-Sciences 
• Trans-posagen Bio-pharmaceuticals

The market worth of genome editing in 2021 was USD 5.06 billion, and it will be worth USD 21.36 billion by 2030, growing at a 17.33% CAGR during 2021-2030. The market expansion is driven by expanding synthetic gene demand and increasing CRISPR genome editing technology implementation in various biotechnology fields.