PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1383399
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1383399
According to Stratistics MRC, the Global Gene Editing Market is accounted for $7.45 billion in 2023 and is expected to reach $23.05 billion by 2030 growing at a CAGR of 17.5% during the forecast period. A group of technologies known as "gene editing" enables researchers to modify an organism's DNA. These technologies make it possible to change, add, or remove genetic material at particular locations within the genome. Genome editing is a fascinating field for both illness prevention and treatment in humans. More complicated conditions like cancer, heart disease, mental illness, and HIV infection may also be treated and prevented by using it.
According to the National Institutes of Health (NIH), there are approximately 7,000 rare diseases affecting between 25 and 30 million Americans.
Genomics is increasingly being used in food quality and safety testing. Technologies for editing genomes are essential for both finding new drugs and identifying and treating genetic diseases in humans. NGS, DNA analysis and profiling, and genetic engineering of plants and animals all employ genome editing. When evaluating fish populations, NGS can be utilized for DNA barcoding to identify fish eggs and larvae as well as to fully characterize fish communities. Therefore, during the projection period, there will likely be a rise in demand for genome editing technologies due to the expanding application areas of genomics.
Gene editing therapy research and development can be costly and time-consuming. It could be difficult for businesses and organizations to get the financing needed for in-depth pre- and clinical testing. The development of gene editing medicine heavily relies on clinical studies, which are quite expensive. These trials, which usually involve several phases and a large number of people, are required to show the safety and effectiveness of gene editing therapy. Therefore, high costs are a significant barrier to market expansion.
One major factor fueling the gene editing market is the increase in the prevalence of genetic illnesses. An increase in the number of people receiving diagnoses for uncommon diseases and different genetic disorders essentially characterizes this trend. Patients may finally have hope due to gene editing technologies like CRISPR-Cas9, which have the ability to identify and fix the underlying genetic abnormalities causing these illnesses. These factors propel market demand.
A significant constraint of gene editing technology is the off-target impacts of CRISPR technology. Although CRISPR-Cas9 can target certain genes with astonishing precision, it can also cause unintentional alterations at places other than the intended target. The application of CRISPR technology may present risks and difficulties as a result of this off-target activity. These factors hinder market expansion.
The industry for gene editing benefited from the pandemic because social distancing norms and a shortage of hospital beds forced home-based patient care systems to adapt to the fullest. The COVID-19 pandemic has changed our lives. It has also intensified the already swift inclinations toward creation and cooperation among the scientific community. With the pandemic spreading across the globe, scientists are working feverishly to develop treatments, vaccinations, and diagnoses. To tackle SARS-CoV-2, the new coronavirus that causes COVID-19, scientists are looking into high-throughput experimental automation, artificial intelligence, and machine learning. The SARS-CoV-2 is necessary for isolating infected patients and observing appropriate medical responses. Thus, the market for gene editing benefited from the COVID-19 epidemic.
The reagents & consumables segment is estimated to hold the largest share. Reagents and consumables encompass a wide range of items, including foil seals, slide holders, plates, chips, tube strips, library preparation, purification, and target enrichment kits. The market for consumables is predicted to rise as a result of genomics' expanding applicability in a variety of industries. Utilizing NGS in epigenetic and transcriptomics has also been made possible by developments in library preparation technology. Applications for sequencing, including targeted and whole-genome sequencing, employ these kits.
The clustered regularly interspaced short palindromic repeats segment is anticipated to have lucrative growth during the forecast period. As an alternative to conventional genetic alteration methods, CRISPR-Clustered Regularly Interspaced Short Palindromic Repeats have become an essential tool for gene editing. The Cas9 enzymes set CRISPR apart from previous types of DNA editing. By removing damaged or undesirable DNA sequences, CRISPR reorganizes genes so that the remaining DNA can take on new configurations.
North America commanded the largest market share during the extrapolated period. The most significant regional market for gene editing is North America. The US has become this region's main source of revenue. In the US, venture capitalists, governmental organizations, and private companies have made large financial and investment contributions in the gene editing field. Research and development, as well as the commercialization of gene editing technologies, have been accelerated by this financing. The development of therapeutic interventions and the expansion of gene editing businesses have been made possible by the availability of funding.
Asia Pacific is expected to witness profitable growth over the projection period. This is due to increasing technological breakthroughs, a thriving biotechnology industry in emerging regions, and the rising prevalence of cancer and other genetic abnormalities. Innovation in CRISPR technology is still growing significantly in Japan. On the other hand, new CRISPR research is anticipated to propel market growth in India. Additionally, researchers in the nation developed a distinct variation of the widely used CRISPR-Cas9 gene-editing method. The variant may increase the accuracy of gene editing without causing unintended DNA changes. Therefore, in the upcoming years, it is anticipated that these variables will have an effect on the Asia-Pacific gene editing market.
Some of the key players in the Gene Editing Market include: Sangamo Therapeutics, Inc., Beam Therapeutics, Integrated DNA Technologies, Inc., Thermo Fisher Scientific, Horizon Discovery Ltd., Precision Biosciences, CRISPR Therapeutics, GeneScript, Agilent Technologies, Intellia Therapeutics, Inc., Caribou Biosciences, Inc., Lonza, Perkinelmer, Editas, edicine, Tecan Life Sciences, Amsbio and Creative Biogene.
In November 2022, Thermo Fisher Scientific (US) announced the launch of Gibco CTS AAV-MAX Helper-Free AAV Production System, an all-in-one solution suitable for commercial and clinical applications associated with AAV-based gene therapies.
In June 2022, Lonza (Switzerland) and Adva entered into a license agreement that will allow Adva to develop innovative solutions for the cell and gene therapies industry.
In February 2023, Gen Script (China) announced the expansion of its Singapore facility to provide a premium gene synthesis service. This marks a significant expansion of the company's advanced gene-synthesis capability and enables Gen Script to provide the service levels required for novel vaccine and therapeutic development in life sciences.
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Technology Analysis
3.8 Application Analysis
3.9 End User Analysis
3.10 Emerging Markets
3.11 Impact of Covid-19