Newark, NJ, Nov. 10, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global gene editing market is expected to grow from USD 4.2 billion in 2020 to USD 13 billion by 2028, at a CAGR of 15.2% during the forecast period 2021-2028.
The global gene editing market is witnessing the significant growth from the past years. This growth is attributed to advanced technologies such as CRISPR/cas9, TALEN. The major companies have made substantial investments in research and development to develop CRISPR/cas9 and TALEN technologies. Gene editing applications include therapeutic genetic editing and infected cells and tissues, thereby removing dangerous mutations, disruption of viral DNA, and therapeutic transgenes. It also plays a major role in the future development of stem cell engineering and gene therapy.
Gene editing, genome editing, or genome engineering is a branch of genetic engineering in which DNA is inserted, deleted, changed, or changed in the gene of a dwelling organism. Gene editing is the method that introduced the new genetic factors into organisms. Although, numerous different techniques had been determined which target the inserted genes to unique sites inside an organism genome. It has additionally enabled the modifying of particular sequences inside a genome and decreased off-target effects that can use for studies functions with the aid of using focused on mutations to specific genes and gene therapy. Inserting a practical gene into another organism and focusing on replacing the defective one should cure certain genetic diseases.
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The global gene editing market is expected to witness significant growth, owing to its antiviral applications for treating uncured diseases such as HIV, herpes, and hepatitis B are also researched. The global gene editing market is further processing due to the more significant 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. The scope of the gene-editing market is rising due to the number of increasing applications and diseases. Gene editing has a substantial range to treat diverse cancers, genetically affected cells, and agents of infectious diseases such as parasites, viruses, bacteria, etc. The factors restraining the market growth are stringent government rules and regulations, lack of public awareness in underdeveloped economies.
Key players operating in global gene editing market include Thermo Fisher Scientific (US), Horizon Discovery Limited (UK), Lonza (Switzerland), GenScript (US), CRISPR Therapeutics (Switzerland), Eurofins Scientific (Luxembourg), Sangamo Therapeutics (US), Editas Medicine (US), Merck (Germany),Precision Biosciences (US), Oxford Genetics (UK), Intellia Therapeutics (US), Synthego (US), Vigene Biosciences (US), EpiGenie (US), Integrated DNA Technologies (US), OriGene Technologies (US), Transposagen Biopharmaceuticals (US), Creative Biogene (US),New England Biolabs (US), Agilent Technologies (US), Danaher (US), ToolGen (South Korea), Cellecta (US), Genecopoeia (US), and Calyxt (US). To gain a significant market share in the global gene editing market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- Caribou Science entered into a commercial and clinical license agreement with MaxCyte in May 2020. The deal was aimed to gain exclusive rights to use MaxCyte’s flow electroporation technology and the ExPERT platform. This is slated to advance Caribou’s gene-edited allogeneic T cell therapy programs and expand their corporate relations in the market.
- Alpine BioTherapeutics Corporation and Allele Biotechnology announced an agreement for developing induced pluripotent stem cells in June 2019 to treat retinal diseases. This strategy assisted the company in developing an advanced product portfolio.
- In 2019, Thermo Fisher Scientific acquired Brammer Bio to access Brammer Bio’s expertise in manufacturing vectors for genes and cell therapies.
- Horizon Discovery launched new RNA, namely predesigned synthetic single-guide RNA (sgRNA) in 20219 to aid researchers in achieving targeted gene knockouts and conducting DNA-gene-free editing.
Genetic Engineering segment dominated the market and held the largest market share or 45.4% in the year 2020
On the basis of application, the global gene editing market is segmented into clinical engineering, genetic engineering, and others. Genetic engineering segment dominated the market and held the largest market share or 45.4% in the year 2020. This growth is attributed to the rapidly growing field of gene and stem cell therapy.
CRISPR/cas9 segment dominated the market and held the largest market share or 38.9% in the year 2020
On the basis of technology, the global gene editing market is segmented intoCRISPR/Cas9, TALEN’s, Zinc Finger Nucleases, and others. CRISPR/cas9 segment dominated the market and held the largest market share or 38.9% in the year 2020. This growth is attributed to the simple, easy to use, and inexpensive, than the other gene editing techniques.
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Biotech and pharma companies segment dominated the market and held the largest market share or 42.3% in the year 2020
On the basis of end user, the global gene editing market is segmented intobiotech and pharma companies, contract research organizations, research institutes. Biotech and pharma companies segment dominated the market and held the largest market share of 42.3% in the year 2020. This growth is attributed to the development of advanced technology.
Regional Segment of Global Gene Editing Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global Gene editing market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America region held the largest market share of 30.4% in the year 2020. This growth is ascertained by U.S. in the North America region owing to the presence of the key players in this region and advanced technology.
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About the report:
The global gene editing market is analysed on the basis of value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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