PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1594230
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1594230
The gene editing market is expected to reach USD 7.59 billion in 2029 from USD 4.66 billion in 2024, at a CAGR of 10.2% during the forecast period.
Scope of the Report | |
---|---|
Years Considered for the Study | 2022-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Million) |
Segments | by Product, Services, Technique, Technology, Application |
Regions covered | North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa |
Factors such as advancements in gene editing technologies, and the expanding range of gene editing applications are driving the growth of the gene editing market. However, the market faces several challenges due to off-target effects of gene editing, along with difficulties in scalability and manufacturing, pose significant hurdles.
"The product segment accounted for the largest share by offerings segment in the gene editing market in 2023"
By offerings, the gene editing market is segmented into products and services. The products segment held the largest share in 2023. The demand for products in gene editing process including experimentation and research for cell line development and drug development & discovery make them an indispensable part of the gene market. Gene editing products as reagents & consumables and Software & systems like gene editing kits, gene editing reagents and gene editing libraries are utilized by pharmaceutican & biotechnology companies and academic & research institutes in various gene editing workflow. Services held the second highest share of the gene editing market in 2023.
"The CRISPR technology held the highest market share of the gene editing products market by technology in 2023"
By Technology, the gene editing products market is segmented into CRISPR, TALEN, ZFN, Base editing, Antisense, RNAi and other technologies which include piggybac and prime editing among others. The CRISPR segment held the highest share of the gene editing products by technology market in 2023 driven by advancements in CRISPR technology leading to large scale adoption of this technology in gene editing. Gene editing products are used in a large range of CRISPR applications including reagents like Cas-9, vectors, libraries for screening and target identification and CRISPR based gene editing kits. Still, TALEN segment held the second largest share of the market in 2023.
"The Asia Pacific region is growing at the highest CAGR in the gene editing market from 2024 to 2029."
The Asia Pacific is estimated to be the fastest-growing segment of the market owing to the a significant focus on R&D activities, funding by government and private players in gene editing research, and rising adoption of gene editing technologies in drug discovery & development. Further, the rising prevalence of rare and genetic diseases is attributed to the aging population of countries such as Japan, and China. This is supporting the adoption of gene editing technologies in healthcare management and treatment driving the market growth. However, North America held the largest share of gene editing market in 2023.
This research report categorizes the gene editing market by offerings (products and services), products by type (reagnets & consumables, and software & systems), reagents & consumables by Technique (knock-out, knock-in, gene silencing, and other techniques), products by technology (CRISPR, TALEN, ZFN, Base editing, Antisense, RNAi and other technologies), products by application (cell line engineering, genome editing/genetic engineering, drug discovery & development, and other applications), products by end user (pharmaceutical & biotechnology companies, academic & research institutes, CROs & CDMOs, and other end users), services by type (cell line engineering, gRNA synthesis & vector construction, library construction & screening, and other types), services by application (cell line development & engineering, genome editing/genetic engineering, drug discovery & development, and other applications), services by end user (pharmaceutical & biotechnology companies, academic & research institutes, and other end users) and by region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa). The scope of the report covers detailed information regarding the major factors, such as drivers, challenges, opportunities, and restraints influencing the growth of the genomics market. A detailed analysis of the key industry players has been done to provide insights into their business overview, product & service portfolio, key strategies such as product & service launches, collaborations, partnerships, expansions, agreements, and recent developments associated with the gene editing market. Competitive analysis of top players and upcoming startups in the gene editing market ecosystem is covered in this report.
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall gene editing market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.
Analysis of key drivers (Increasing demand for personalized medicine, Favorable government funding investments for gene editing projects, Expanding applications of gene editing), restraints (Off-Target Effects and Safety Concerns), opportunities (Technological advancements in Prime editing and bridge RNA, Rising burden of congenital disorders), and challenges (Issues with scalability of gene editing workflows. High equipment and facility costs) influencing the growth of the market.