Genome Editing Market

Global Genome Editing Market Size (2024 to 2029)

The global genome editing market was worth USD 4.85 billion in 2023. The global market is expected to grow at a CAGR of 14.42% from 2024 to 2029 and be worth USD 10.88 billion by 2029 from USD 5.55 billion in 2024.

Current Scenario of the Global Genome Editing Market

Genome editing is used to change the DNA sequence of an organism. To do this, various types of enzymes such as CRISPR/Cas9, TALENs, or ZFNs are used as these can make such changes in the genomes. Genome editing is used to cure genetically inherited diseases, enhance the quality of crops, and provide valuable insights to understand the behind the story of genetic diseases, due to which the adoption of genome editing is growing rapidly. The usage of genome editing is not limited to life sciences but also has a presence in medicinal and agricultural industries. In the coming years, genome editing is predicted to play a significant role in the biotechnological industry.

MARKET DRIVERS

The growing production of genetically modified crops is promoting the genome editing market growth.

The usage of genome editing techniques to develop new genetically modified crops is on the rise. Currently, genome editing is being used in genetically modified crops to better their yield, provide the capacity to fight against pests and diseases, and make them capable of handling various environmental conditions. The need for genetically modified crops is growing significantly worldwide owing to the increasing population and rising need for increased food production. In the same ratio, the involvement of genome editing in genetically modified crops is increasing and resulting in market growth.The growing R&D expenditure and rapid adoption of technological developments to upgrade genome editing capabilities are further propelling the genome editing market growth.

The global genome editing market is further progressing due to the more significant number of application areas such as therapeutics, mutation and agriculture, and biotechnology. These technologies offer many openings in crop improvement in gene-targeted exchange therapy, which is not yet grasped. For crop improvements, homologous recombination is an effective procedure and is expected to drive the global genomic editing market in the future. Furthermore, the scope of the genomic editing market is rising due to increasing applications and diseases. Genome editing has a substantial range to treat a diversity of cancers, genetically affected cells, and agents of infectious diseases such as parasites, viruses, bacteria, and others.

Furthermore, the growing focus of government and private organizations to invest in research and developments of genome editing, the rising number of applications in therapeutics, agriculture, biotechnology, and mutation fields, and to treat of genetically affected cells and various infections are likely to provide lucrative opportunities for the growth of the global genome editing market over the forecast period.

MARKET RESTRAINTS

Ethical issues related to crop genomic editing are one of the major factors hampering the growth of the genome editing market.

Technical limitations are another notable factor inhibiting market growth. Factors such as regulatory issues, high costs associated with genome editing technology, poor awareness among people in some countries, and the availability of alternative technologies are anticipated to showcase a negative impact on the growth of the genome editing market. In addition, concerns for animal welfare can rise at all generation phases, and the life duration of genetically engineered animals hinders the global genome editing market.

Impact Of COVID-19 On The Global Genome Editing Market

The COVID-19 pandemic has had a mixed impact on the growth of the global genome editing market. On the positive end, scientists have been using CRISPR technology to develop rapid diagnostic tests for SARS-COV-2. In addition, scientists are looking at CRISPR as a potential therapeutic utilized in targeted enzymatic activity to destroy the coronavirus RNA and prevent virus replication. Technology-based gene-editing systems play a vital role in defense against infection. Due to COVID-19, the demand for gene therapy has grown significantly as it is considered one of the potential treatment options for COVID-19.

On the other hand, the COVID-19 pandemic has resulted in decreased funding for genome editing, closure of laboratories, supply chain disruptions, and delays in clinical trials, which had a negative impact on the growth of the genome editing market. Likewise, the genome editing market has experienced a mixed impact of the COVID-19 pandemic. However, considering the reduced impact of the COVID-19 pandemic and growing habituation toward new normalization by people and companies, the genome editing market is anticipated to showcase a healthy CAGR during the forecast period.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Genome Editing Market By Application

The cell line engineering segment had the major share of the global genome editing market in 2022 and is expected to grow at the highest CAGR during the forecast period. The segment's growth is primarily driven by the increasing demand for stem cell therapies, the rising focus of key market players on stem cell research, and growing funds from private and public sectors. In addition, factors such as the growing need for biopharmaceuticals and increasing usage of drug discovery are anticipated to fuel the segment’s growth rate.

On the other hand, the animal genetic engineering segment is expected to grow at a promising CAGR during the forecast period. This is because the growing usage of genome editing majorly drives the segmental growth to develop new animal models and promote animal health and productivity.

The plant genetic engineering segment is anticipated to register a healthy CAGR in the coming years. The growing need to promote the yield of crops and make them capable of handling the environmental changes in the agricultural industry is primarily driving segmental growth.

Global Genome Editing Market By Technology

 The CRISPR segment held a leading share of the global genome editing market in 2022, and the domination of the segment is likely to continue during the forecast period owing to its ability to target multiple sites simultaneously in a single cell using various guide RNAs. The CRISPR technology is easy to use and has higher efficiency than the other available technologies, due to which the adoption of technology is growing faster and resulting in segmental growth. Many researchers and companies in applications such as cell line engineering, animal genetic engineering, and plant genetic engineering have widely used CRISPR.

Global Genome Editing Market By End-User

The academic and research institutes segment is anticipated to hold a major share of the global genome editing market during the forecast period. Factors such as the increasing number of initiatives from various governments in favor of genome editing and the availability of funding for stem cell therapies and genetic editing research support segmental growth.

The CROs segment is predicted to register a healthy CAGR in the coming years owing to the increasing outsourcing activities by pharmaceutical and biotechnological companies for their research needs.

REGIONAL ANALYSIS

The global genome editing market was dominated by North America in 2022, with the region accounting for 40% of the overall market share. North America was followed next in line by Europe and Asia-Pacific. The North American genome editing market will likely dominate during the forecast period owing to the growing funding by North American countries for genomic modification. In addition, acceptance of government funding and research grants, GM crop adoption, and development in gene therapy anticipate the growth of the genome editing market in North America. 

The European genome editing market is another potential regional market for genome editing worldwide and is estimated to hold a substantial share of the global market during the forecast period. The presence of numerous pharmaceutical and biotechnological companies in Europe, an increasing number of academic and governmental research institutes, and growing investments to conduct R&D in the genome editing field are majorly propelling regional market growth. In addition, the presence of favorable government policies in the European region is aiding the growth of the European market.

The Asia-Pacific genome editing market is expected to increase in the coming years, as evidenced by the region's high CAGR value. Another promising area for the market in Latin America, which is expected to show high growth rates in the coming years. The Asia Pacific has had a steady growth in the market for the past few years due to the upsurge in investments by essential players in the region. The rise in government initiatives to fund start-up companies and new players in the pharmaceutical and biotechnology industries and the increase in drug discovery and development activities are the major factors anticipated to drive the genome editing market growth in the Asia Pacific region during the forecast period.

The MEA genome editing market is expected to grow at a moderate CAGR in the coming years.

KEY PARTICIPANTS IN THE GENOME EDITING MARKET

Noteworthy companies profiled in this report in the global genome editing market are Thermo Fisher Scientific, Merck KGAA, Horizon Discovery Group Plc, Genscript Biotech Corporation, Sangamo Biosciences, Integrated DNA Technologies, Lonza Group Ltd, New England Biolabs, Origene Technologies, and Transposagen Biopharmaceuticals.

RECENT HAPPENINGS IN THIS MARKET

• In January 2023, GenKOre, a South Korean-based company, collaborated with one of the biopharmaceuticals companies from the United States to innovate in-vivo gene editing therapies.
• REMD Biotherapeutics Company collaborated with GenScript Biotech Corporation in 2019. This alliance is focused on developing biospecific antibodies.  
• Thermo fisher scientific has developed a new assay called Ion Torrent Oncomine Myeloid Research Assay, which runs on Ion Torrent Genexux System and will be available in 2020.

DETAILED SEGMENTATION OF THE GLOBAL GENOME EDITING MARKET INCLUDED IN THIS REPORT

This research report on the global genome editing market has been segmented and sub-segmented based on application, technology, end-user and region.

By Application

• Cell Line Engineering          
• Animal Genetic Engineering           
• Plant Genetic Engineering

By Technology

• CRISPR
• TALEN
• ZFN
• Antisense
• Other Technologies

By End-users

• Biotechnological & Pharmaceutical Companies
• Academic and Government Research Institutes
• Contract Research Organizations

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa