DUBLIN–(BUSINESS WIRE)–The “Global Genome Editing Market Size, Share, Growth Analysis, By Technology, By Delivery Method, By Mode, By End Use – Industry Forecast 2023-2030” report has been added to ResearchAndMarkets.com’s offering.
The global genome editing market size was valued at USD 4811.04 million in 2021 and is poised to grow from USD 5887.06 million in 2022 to USD 36060.95 million by 2030, growing at a CAGR of 22.3% in the forecast period (2023-2030).
A method for altering an organism’s or a cell’s DNA is called genome editing. In order to add or remove DNA from the genome, the technique involves cutting DNA sequences. To provide the cell the qualities it requires, changes are made to the DNA. Globally, numerous governments are increasing their resources and grants to support genome-altering research.
Governments are sponsoring public and commercial research as well as academic foundations to enhance the exploration activities for genome alteration and hereditary engineering due to the benefits of genome editing. As a result, the Genome Editing Market will increase favourably during the period of forecasting.
Factors driving the genome editing market include the increasing prevalence of disease and other hereditary conditions, growing demand for personalised medicine, rise in R&D spending and the development of the biotechnology and pharmaceutical industries, increase in private and public sector funding, rapid advances in sequencing, and advancements in genome editing.
Recently, the market has grown primarily due to the expanding usage of CRISPR genome editing technology and increased demand for synthetic genes in various biotechnology fields.
Segments covered in this report
The Global Genome Editing Market is segmented based on Technology, Delivery Method, Mode, End-use, Application, and Region. Based on Technology it is categorized into CRISPR, TALEN, ZFN, Antisense, and Other Technologies. Based on the Delivery Method it is categorized into Ex-vivo and In-vivo.
Based on Mode it is categorized into Contract, In-house. Based on End-use it is categorized into Biotechnology & Pharmaceutical Companies, Academic & Government Research Institutes, and Contract Research Organizations. Based on the Region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Driver
Governments across the globe have recently made large investments in the field of genomics, which has greatly influenced the advancement of novel genome editing technologies.
Furthermore, the availability of government financing has made it possible for government and university institutions to carry out extensive genome engineering/editing research.
For instance, Genome Canada was awarded a USD 15 million grant by the Ministry of Innovation, Science and Industry (Science) in March 2020 to fund 11 projects involving genomic research in the fields of health, agriculture, and the environment.
With a total expenditure of USD 29.7 million, provincial governments, companies, and research partners will also contribute to these projects. Research on cervical and ovarian cancer is one of the initiatives.
Due to increasing government investments in genomics, there are now more genomes research initiatives than ever before. The market for genome editing is therefore anticipated to expand over the course of the forecast period.
CRISPR/CAS9 will accelerate the market’s growth because it is simple to employ. This technology area is straightforward and reasonably priced when compared to other genome editing techniques.
Restraint
The off-target impacts of CRISPR-Cas9 are a serious problem. Nevertheless, because Cas9 causes double-stranded breaks, any off-target nuclease activity can lead to changes in these genes, potentially leading to oncogenesis. One to three mismatches in the target can cause off-target nuclease activity, but CRISPR-Cas9 can handle them.
Furthermore, a key cause for worry is the high incidence of off-target activity (50%) – mutations at locations other than the targeted on-target location. For instance, CRISPR can activate the cancer-causing gene or target the tumour suppressor genes. Because of this negative consequence, designing clinical trials has proven challenging for numerous companies. Clinical trials have been put on hold, and regulatory bodies are recommending more study to increase the method’s safety.
Genomic instruments’ high price is largely due to their sophisticated capabilities and functionality. It costs between $10 and $20 million USD. The equipment is too expensive for small and medium-sized laboratories and pharmaceutical businesses to afford.
Market Trends
Major pharmaceutical and biotechnology companies, as well as participants in the genome market, have been spurred by the COVID-19 pandemic to engage in vaccine research and development. Genome editing and engineering technologies have gained prominence because to the rising demand for vaccines and antiviral candidates; these reasons are anticipated to propel the genome editing market in the years to come.
Companies Mentioned
- Thermo Fisher Scientific Inc.
- CRISPR Therapeutics AG
- Editas Medicine, Inc.
- Intellia Therapeutics, Inc.
- Sangamo Therapeutics, Inc.
- Precision Biosciences, Inc.
- Cellectis S.A.
- Merck KGaA
- Lonza Group AG
- Horizon Discovery Group plc
- Genscript Biotech Corporation
- Agilent Technologies, Inc.
- New England Biolabs, Inc.
- Takara Bio, Inc.
- Synthego Corporation
- OriGene Technologies, Inc.
- Genewiz, Inc.
- Eurofins Scientific SE
- Bio-Rad Laboratories, Inc.
- Qiagen N.V.
For more information about this report visit https://www.researchandmarkets.com/r/44n1xa
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