BANGALORE, India, Sept. 5, 2022 /PRNewswire/ -- The Global Genome Editing Market is Segmented by Type (CRISPR, TALEN, ZFN), by Application (Animal Genetic Engineering, Cell Line Engineering, Plant Genetic Engineering): Opportunity Analysis and Industry Forecast, 2022-2028. It is published in Valuates Reports under the Biological Sciences Category.
The global Genome Editing market size is projected to reach USD 6739.8 Million by 2028, from USD 3513 Million in 2021, at a CAGR of 9.3% during 2022-2028.
The major factor driving the growth of the Genome Editing market are:
One of the major drivers driving the growth of the genome editing market over the coming few years will be the expanding use of genome engineering in the treatment of chronic illnesses and therapies. The use of genome editing in treating these illnesses has significantly expanded in recent years due to the ongoing incidence of infectious and chronic diseases such as hepatitis, TB, malaria, HIV/AIDS, and others.
The increase in demand for synthetic biology in both developed and developing nations is what is fueling the expansion of the gene editing market. There are several applications for genomics, including the detection of human genetic disorders, medication discovery, agriculture, veterinary sciences, and forensics.
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TRENDS INFLUENCING THE GROWTH OF GENOME EDITING MARKET
The expansion of the genome editing market is anticipated to be fueled by an increase in the number of cancer patients. Due to its ease of usage, CRISPR is quickly becoming a common technology employed in many cancer biology investigations. CRISPR is viewed as a game-changer by scientists for a variety of reasons. The main benefit, especially when compared to more traditional gene-editing methods, is perhaps how simple CRISPR is to employ. Additionally, CRISPR is entirely adaptable. It is more accurate than existing DNA-editing techniques and can essentially modify any DNA segment within the 3 billion letters of the human genome. Additionally, CRISPR gene editing is much quicker.
One of the major drivers driving the growth of the genome editing industry over the coming few years will be the expanding use of genome engineering in the treatment of chronic illnesses and therapies. The use of genome editing in treating these illnesses has significantly expanded in recent years due to the ongoing incidence of infectious and chronic diseases such as hepatitis, TB, malaria, HIV/AIDS, and others. About 1.8 million new infections of HIV were recorded in 2016, according to the CDC. The research community is now developing innovative gene-based medicines to lower morbidity and death in HIV-infected individuals as a result of the rapidly rising number of HIV diagnoses.
Gene-editing technologies' ongoing technological breakthroughs are a key element fueling the market's expansion. Furthermore, it is anticipated that government financing, an increase in the number of genomics studies, and an increase in the prevalence of cancer and other genetic illnesses would all contribute to the Genome Editing market expansion.
The Gene editing market had a positive impact during the pandemic. Rapid diagnostic tests for COVID-19 have been successfully developed using CRISPR technology during the COVID-19 outbreak, receiving their first US FDA (MD, USA) approval in the process. The market is also being driven by the creation of breakthrough diagnostic tools based on CRISPR that will lessen the negative effects of the COVID-19 pandemic.
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GENOME EDITING MARKET SHARE:
North America is expected to be the most lucrative region. The industry in North America is primarily being driven by investments in gene therapy research and development, a surge in the usage of GM crops in recent years, and significant technological advancements supported by grants and funding from US government agencies. Due to several government programs and the escalation of genomics research and development (via GAPP) in the nation, the Canadian market is anticipated to expand in the next few years.
The cell line engineering market is expected to be the most lucrative. Cell therapy treatments based on stem cells frequently employ cell-line engineering. However, the advantages of cell line engineering have been investigated in the creation of various biopharmaceutical products such as additional recombinant proteins, vaccines, fusion proteins, growth factors, etc.
CRISPR Segment is expected to account for the largest market share. Comparatively, this technology area is straightforward to understand, simple to use, and reasonably priced. The opportunity for the gene editing market segment will expand with the rising demand for CRISPR/Cas9 for genome analysis to find genetic abnormalities and its therapeutic discovery. Through the application of gene editing, CRISPR technology can be used to treat cancer.
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Key Companies:
- Genscript
- Horizon Discovery Group
- Lonza
- Merck KGaA
- Sangamo Therapeutics
- Thermo Fisher Scientific
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