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The primary purpose of gene editing or genome editing is to alter the DNA of an organism using a variety of technologies. With this technique, genetic material can be added, removed, or replaced at specific spots in the genome. As a result, numerous editing techniques have been created for use in the sector. Human diseases like cancer, HIV infection, cystic fibrosis, and sickle cell disease are also treated and prevented with gene editing. The market for genome editing will grow rapidly, with a CAGR of 17.33% from $5.06 billion in 2021 to $21.36 billion by 2030.
Genome Editing Market Overview
Due to rising R&D costs, increasing government funding for genomic research, technological developments, and an increase in the production of genetically modified crops, the market for genome editing is currently expanding significantly. In recent years, businesses have heavily invested in R&D to create cutting-edge technologies like TALEN and CRISPR. In order to improve research efficiency and accuracy and meet unmet needs in both research and therapeutics, Thermo Fisher Scientific, for instance, is investing heavily in advancing its CRISPR technology. A dimeric CRISPR/Cas9 RNA-guided FokI nucleases system, which is anticipated to have a wide range of genome editing applications, has been created by combining the proteins Cas9 and FokI.
Due to its widespread use in fields like biotechnology for agriculture, therapeutics, and mutation, the genome editing market is expanding quickly. Techniques for genome editing present numerous opportunities for crop improvement. Due to its widespread use in fields like biotechnology for agriculture, therapeutics, and mutation, the genome editing market is expanding quickly. Techniques for genome editing present numerous opportunities for crop improvement.
Technology Insights
Technology-based market segments include TALENs, CRISPR/Cas9, and Zinc Finger Nucleases (ZFNs). Through 2030, the CRISPR/Cas9 market is anticipated to grow at a CAGR of about 15.6%. This technology is easy to understand, simple to use, and reasonably priced. The opportunity for the gene editing market segment will increase with the rising demand for CRISPR/Cas9 for genome analysis to find genetic disorders and drug discovery.
Application Insights
The market is segmented on application into cell line engineering, plant genetic engineering, and animal genetic engineering. The market for cell line engineering accounted for more than USD 2.2 billion in 2021. Cell therapy treatments based on stem cells frequently use cell-line engineering.
Genome editing technologies have advanced quickly, enabling the introduction of genetic alterations into induced pluripotent stem cells (iPSCs) as well as the correction of disease-causing genetic mutations.
End-user Insights
Contract research organizations (CROs), biotech and pharmaceutical companies, and research institutions make up the market’s end-user segments. In 2021, the biotech and pharmaceutical companies segment held more than 45.5% of the market. The segmental growth will be accelerated by various biotechnology companies’ increased focus on the creation of novel gene editing technologies.
Regional Insights
Due to the rise in the frequency of rare diseases in the United States and Canada, North America accounted for about 38% of the global market in 2021 and is predicted to increase significantly over the coming years. Between 25 and 30 million Americans are affected by about 7,000 rare diseases, as per the National Institutes of Health (NIH). Due to the implementation of new technologies and tools for gene editing, there is a greater need for drug development to treat rare diseases. Additionally, the presence of major industry players in North America will promote market growth for gene editing.
Competitive analysis
Sangamo Therapeutics, Inc., GenScript, Horizon Discovery Ltd., Integrated DNA Technologies, Inc., Precision Biosciences, Bearn Therapeutics, Thermo Fisher Scientific Inc., Intellia Therapeutics, Inc., CRISPR Therapeutics, and Caribou Biosciences, Inc. are a few of the top companies in the gene editing market.
To maintain market competition in the gene editing market, these industry participants put various growth strategies into practice with increased innovations and technological advancements. To increase revenue in the gene editing market, these market participants are implementing several organic and inorganic growth strategies.
s unveiled Alt-R HDR Donor Blocks in February 2022, an excellent approach for expanding homology-directed repair (HDR) rates. Alt-R HDR Donor Blocks are the newest addition to IDT’s Alt-R CRISPR genome editing solutions portfolio.
