PUBLISHER: The Business Research Company | PRODUCT CODE: 1425504
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425504
Genome Editing/Genome Engineering Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on genome editing/genome engineering market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for genome editing/genome engineering? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The genome editing/genome engineering market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Genome editing is a technique that allows scientists to modify the DNA of various organisms, including plants, bacteria, and animals. This technology enables the alteration of DNA, influencing physical characteristics such as eye color and the susceptibility to diseases. Genome editing is extensively used in research labs with animal models and cells to gain insights into diseases.
The main products and services in genome editing and genome engineering encompass reagents and consumables, software and systems, and services. Reagents and consumables are utilized at specific locations in the genome of a target organism to induce breaks, repairs, or mismatches, leveraging endogenous mechanisms to bring about specific changes in the DNA sequence. Consumables are items used until depletion and then disposed of, while reagents are compounds or substances that facilitate a reaction. Various technologies, including Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR), Transcription Activator-Like Effector Nuclease (TALEN), Zinc Finger Nucleases (ZFN), antisense, and others, are employed in genome editing. These technologies find applications in cell line engineering, genetic engineering, diagnostic applications, drug discovery and development, and various other fields. The users of genome editing technologies include biotechnology companies, pharmaceutical companies, academic and government research institutes.
The genome editing or genome engineering market research report is one of a series of new reports from The Business Research Company that provides genome editing or genome engineering market statistics, including genome editing or genome engineering industry global market size, regional shares, competitors with a genome editing or genome engineering market share, detailed genome editing or genome engineering market segments, market trends and opportunities, and any further data you may need to thrive in the genome editing or genome engineering industry. This genome editing or genome engineering market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The genome editing or genome engineering market size has grown rapidly in recent years. It will grow from $7.23 billion in 2023 to $8.57 billion in 2024 at a compound annual growth rate (CAGR) of 18.6%. The growth observed in the historical period can be attributed to the increasing research in genetics and genomics, the rise in genetic diseases, advancements in gene therapy, substantial investments in biotechnology and life sciences, the potential for agricultural applications, and the utilization of genetic research in model organisms.
The genome editing or genome engineering market size is expected to see rapid growth in the next few years. It will grow to $17.16 billion in 2028 at a compound annual growth rate (CAGR) of 18.9%. The anticipated growth in the forecast period can be attributed to the emergence of prime editing, a heightened focus on ethical and regulatory frameworks, an increasing adoption in drug discovery, the therapeutic potential for genetic disorders, customization for gene function studies, and a growing interest in epigenome editing. Major trends expected in the forecast period include advancements in CRISPR technology, the expanding applications in therapeutics, the emergence of new genome editing tools, increased investments and partnerships, the development of enhanced delivery systems, and the integration of artificial intelligence (AI) in genome editing design.
The genome editing or genome engineering market is poised for substantial growth, driven by the increasing prevalence of cancer and other genetic disorders. Genome editing plays a crucial role in addressing these conditions by enabling the rapid engineering of immune cells and oncolytic viruses for therapeutic applications in cancer treatment. With cancer being a leading cause of death worldwide, responsible for nearly 10 million deaths, and a considerable number of new cancer cases reported in the United States, the demand for advanced genome editing technologies is escalating. As such, the rise in the prevalence of cancer and genetic disorders is a key factor propelling the growth of the genome editing or genome engineering market.
The genome editing or genome engineering market is experiencing growth due to the surge in research activities. Research, which involves systematic efforts to gather, analyze, and generate new knowledge, has seen a significant boost with the integration of genome editing technologies. These tools have become instrumental in scientific exploration, offering researchers unparalleled precision and versatility in modifying and understanding the genetic makeup of organisms. The substantial increase in research and development (R&D) spending, reaching $717 billion in the U.S. in 2020 and estimated to further increase to $792 billion in 2021, underscores the pivotal role of genome editing in driving research advancements. Therefore, the market growth is propelled by the increasing adoption of genome editing technologies in various research endeavors.
The genome editing or genome engineering market is witnessing a key trend in technological advancements in gene editing. Major companies are focusing on developing innovative technology solutions to enhance their position in the market. For instance, researchers at Kyoto University and the Institute of Evolutionary Biology (CSIC-Universitat Pompeu Fabra) have introduced a novel gene-editing method called Direct Parental CRISPR (DIPA-CRISPR). This technique offers a quick and effective means of editing genes in insects by injecting materials into developing eggs in female adults, bypassing the traditional method of microinjecting CRISPR material into insect embryos. The adoption of advanced gene-editing technologies is contributing to the efficiency and precision of genetic modifications.
Major companies operating in the genome editing or genome engineering market are engaging in strategic partnerships to fortify their positions. Strategic partnerships, such as the collaboration between Ionis Pharmaceuticals Inc. and Metagenomi, aim to expand and diversify technological capabilities. Ionis Pharmaceuticals Inc., a biotechnology company, partnered with Metagenomi, a genomic medicines company, to leverage their respective technologies and deliver transformative therapies focused on genetic targets. Such collaborations enable companies to pool resources, share expertise, and innovate collectively, fostering advancements in the genome editing or genome engineering field.
In September 2022, Lesaffre, a France-based microorganisms, healthcare and biotechnology company acquired Recombia Biosciences for an undisclosed amount. The acquisition aims to leverage Recombia Biosciences' genome-editing technologies and accelerate the development of yeasts for sustainable production of fermented ingredients. Recombia Biosciences is a US-based biotechnology company.
Major companies operating in the genome editing or genome engineering market report are Thermo Fisher Scientific Inc., Merck Group, Genscript Biotech Corp, Sangamo Therapeutics Inc., Lonza Group AG, Editas Medicine Inc., CRISPR Therapeutics AG, Agilent Technologies Inc., Intellia Therapeutics, bluebird bio Inc., Transposagen Biopharmaceuticals Inc., Tecan Trading AG, Precision BioSciences, PerkinElmer Inc., Cellectis S.A, Applied StemCell Inc., Bio-Rad Laboratories Inc., Bio-Techne, Creative Biogene, Cyagen Biosciences, Dharmacon Inc., Eurofins Genomics LLC, Evotec SE, GeneCopoeia Inc., Genewiz, Horizon Discovery Group PLC, Inscripta Inc., Integrated DNA Technologies Inc., MaxCyte Inc., New England Biolabs, Novartis International AG.
North America was the largest region in the gene editing or genome engineering market in 2023. Asia-Pacific is expected to be the fastest-growing region in the genome editing or genome engineering market report during the forecast period. The regions covered in the genome editing or genome engineering market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the genome editing or genome engineering market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The genome editing or genome engineering market includes revenues earned by entities through cell line engineering, animal genetic engineering, and plant genetic engineering. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.