Gene Editing Industry Size Overview: World Approaching Demand & Growth Opportunities

A new market study, titled “Gene Editing Market Research Report- Global Forecast to 2024” has been featured on Market Research Future (MRFR)

Gene editing, genome editing, or genome engineering is a type of genetic engineering in which the gene of a particular organism is modified, added, or deleted for treatment of diseases. Early methods of gene editing have led to the insertion of the genome sequence within the cell such as homologous recombination. The global gene editing market report compiled by Market Research Future (MRFR) takes a look at various methods and its future potential for the period of 2018 to 2023 (forecast period).

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The global gene editing market is segmented on basis of methods, applications, and end users.

Based on methods, the market is segmented as Antisense technology, ZFN, CRISPR, TALEN, and others.

Based on application, they are segmented as gene therapy, plant genetic engineering, animal genetic engineering, and microorganism’s genetic engineering.

Market Scope

The Gene Editing Industry Size is predicted to expand at 18.30% CAGR during the forecast period. It can thrive by modifying the DNA of livestock to increase their immunity or defenses against certain bacteria. Gene-editing therapies on animals and their approval from regulatory bodies can bode well for the market. Furthermore, prevalence of cancer, hemophilia, HIV, and sickle cell anemia will drive the demand in the global market.

Applications in pet breeding, allergy-free foods, biodiesel, and others can drive the technological usage of CRISPR-Cas9. The use of gene editing techniques to remove mutations in DNA of companion animals and improve their overall health will be lucrative for manufacturers in the coming years. Prevalence of lactose intolerance and celiac disease is bound to spur the need for such technologies and drive the production of allergen-free foods.

Regional Analysis

On the regional basis, the market is segmented into Americas, Europe, Asia Pacific (APAC), and Middle East and Africa (MEA).

The Americas are predicted to dominate the market owing to developments in drug discovery, investments in drugs and vaccines, rise in research studies, and mushrooming of the biotechnology sector. The increase in research expenditure, incidence of chronic diseases, and use of stem cells are major drivers of the market. The U.S., in particular, will drive the market growth till 2023. Sale of do-it-yourself (DIY) genetic engineering kits can lead to research at home and create interest among budding scientists. However, the ban on the sale of such kits may hamper its growth.

APAC, on the other hand, is likely to display the fastest growth rate during the forecast period owing to funds invested in public research organizations to further research in biotechnology. Establishment of gene editing companies and increased spending on research and development can fuel the market growth. Production of generic drugs and presence of contract research organizations will bode well for the global gene editing market.

Competition Outlook

Horizon Discovery Group plc, New England Biolabs, Inc., Sangamo Biosciences, Inc., Lonza Group Ltd., OriGene Technologies, Inc., Thermo Fisher Scientific, Inc., Transposagen Biopharmaceuticals, Inc., GenScript USA Inc., Integrated DNA Technologies, Inc., and Sigma-Aldrich Corporation are premier biotechnology companies in the global gene editing market. Sharing of technology, mergers and acquisitions, and partnerships are on the rise in the market. Recently, Horizon Discovery Group has decided to share a customized version of the CRISPR technology with its partners for the development of cell therapies.

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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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Akash Anand

Market Research Future

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