Chicago, Oct. 13, 2022 (GLOBE NEWSWIRE) -- According to the new market research report "Genome Editing Market / Genome Engineering Market by Technology (CRISPR, TALEN, ZFN, Antisense), Product & Service, Application (Cell Line Engineering, Genetic Engineering, Diagnostics), End user (Pharmaceutical, Biotechnology, Academia) - Global Forecast to 2026", the global Genome Editing Market is projected to USD 11.7 billion by 2026 from USD 5.1 billion in 2021, at a CAGR of 18.2 % between 2021 and 2026.
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147 - Tables
48 - Figures
208 - Pages
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Scope of the Report:
| Report Coverage | Details |
| Market Size | USD 11.7 billion by 2026 |
| CAGR | 18.2% |
| Historical Data | 2019-2026 |
| Base Year | 2020 |
| Forecast Period | 2021-2026 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By product & service, By technology, By application, By Geography |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | Thermo Fisher Scientific Inc. (US) | Merck KGaA (Germany)| GenScript (China) |
| Key Market Opportunities | Extensive use of genome editing in personalized medicine. |
| Key Market Drivers | Rise in government funding and growth in the number of genomics projects. |
The Developments in this field have led to significant improvements in the genome editing capabilities that have enabled the modification of gene sequences of interest in a wide variety of cell types and model organisms. Genome engineering, earlier used by large research organizations, such as academic and government research centers, has now become a potentially transformative diagnostic tool, especially for oncology studies. This shift from academics to clinical and diagnostic laboratories is primarily driven by rapid improvements in gene editing technologies.
Based on product & service, the genome editing/genome engineering market is segmented into reagents & consumables, software & systems, and services. The reagents & consumables segment accounted for the largest share of 58.8% in 2020, mainly due to the repetitive purchase of reagents and consumables as well as the rising demand for and multiple uses of editing and sequencing.
Based on technology, the genome editing market is segmented into CRISPR, TALEN, ZFN, antisense, and other technologies. The CRISPR segment accounted for the largest share of 63.1% of the genome engineering market in 2020. The ease of use associated with CRISPR technology gives it a significant advantage over ZFN and TALEN, especially in generating a large set of vectors to target numerous sites or even genome-wide libraries. Another potential advantage of CRISPR is its ability to use multiple guide RNA parallelly to target multiple sites simultaneously in the same cell. This makes it easier to mutate multiple genes at once or engineer precise deletions in a genomic region and has attributed to the growth of this technology.
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Based on application, the genome editing/genome engineering market is segmented into cell line engineering, genetic engineering, diagnostic applications, drug discovery & development, and other applications. The cell line engineering segment accounted for the largest share of 32.0% of the market in 2020. The availability of funds for the purchase of new stem cell lines, the development of advanced genomic methods for stem cell analysis, and the rising number of approvals for the clinical trials of stem cell therapies are some of the factors expected to further support the growth of the market segment.
Based on end user, the genome Editing/ genome Engineering market is segmented into pharmaceutical companies, biotechnology companies, and academic & government research institutes. In 2020, pharmaceutical companies accounted for the largest share of the genome engineering market. Pharmaceutical companies were the largest end user segment of the market in 2020. Genome editing techniques, such as CRISPR-Cas9 are being used by pharma companies to find new drug targets in human disease models.
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Geographical Growth Scenario:
The genome editing/genome engineering market is segmented into North America, Europe, the Asia Pacific (APAC), Latin America (LATAM), and the Middle East and Africa (MEA) regions. North America accounted for the largest share of 48.4% of the genome editing market, followed by Europe, in 2020. The growth of the market in North America in the global market can be attributed to the availability of government funding and support, the increased use of GM crops, and the rise in the prevalence of diseases such as cancer. The market in Asia Pacific is to grow at the highest CAGR of 20.1% during the forecast period, primarily due to increasing investments in research and the rising number of applications of gene synthesis for genetic engineering of cells and tissues of organisms.
Key Players:
Key players in the genome editing/genome engineering market include: Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), and GenScript (China).
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