Pune, India, June 23, 2023 (GLOBE NEWSWIRE) -- According to our latest study on "Genome Editing Market Size Report, Forecast to 2028 – COVID-19 Impact and Global Analysis – by Technology, Application, and End User,” the market size is projected to reach $16.98 billion by 2028; which was valued at $5.19 billion in 2021 and; it is estimated to register a CAGR of 18.4% from 2021 to 2028. The major players covered in this study are Thermo Fisher Scientific Inc; Merck KGaA; Lonza; Horizon Discovery Group plc; Integrated DNA Technologies; GenScript; New England Biolabs; Eurofins Scientific; CRISPR Therapeutics; Editas Medicine.
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Global Genome Editing Market Strategic Insights:
| Report Coverage | Details |
| Market Size Value in | USD 5.19 Billion in 2021 |
| Market Size Value by | USD 16.98 Billion by 2028 |
| Growth rate | CAGR of 18.4% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 176 |
| No. of Tables | 84 |
| No. of Charts & Figures | 76 |
| Historical data available | Yes |
| Segments covered | Technology, Application, and End User |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Browse key market insights spread across 176 pages with 84 list of tables & 76 list of figures from the report, "Genome Editing Market Size and Forecast to 2028 - COVID-19 Impact and Global Analysis by Technology (CRISPR, TALEN, Antisense, and Other); Application (Cell Line Engineering, Genetic Engineering, Diagnostic Applications, Drug Discovery, And Others), End User (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, and Clinical Research Organizations)" in detail along with the table of contents: https://www.theinsightpartners.com/reports/genome-editing-market
Global Genome Editing Market: Competitive Landscape and Key Developments:
Thermo Fisher Scientific Inc.; MERCK KGaA; Lonza; Horizon Discovery Group plc.; Integrated DNA Technologies; GenScript; New England Biolabs; Eurofins Scientific; CRISPR Therapeutics and Editas Medicine are among the key companies operating in the Genome Editing market. Leading players are adopting strategies such as the launch of new products, expansion and diversification of their market presence, and acquisition of new customer base for tapping prevailing business opportunities.
In March 2021, Integrated DNA Technologies (IDT), a leading comprehensive genomics solutions provider, announced that the acquisition of Swift Biosciences, a pioneer in the development of Next-Generation Sequencing (NGS) library preparation genomics kits for academic, translational, and clinical research.
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Continuous Technological Advancements in Gene Editing Tools:
Over the past few years, advances in genome editing technologies have been making constant headlines. Genome editing technologies can alter biological research and significantly impact human health, food security, and environmental sustainability since they are precise, relatively inexpensive, easy to use, and remarkably powerful. The advances in genome editing can be traced back to quiet beginnings in the 1990s. The introduction of CRISPR-Cas9—a genome-editing tool that can be used to make precise and targeted changes in the DNA sequence with ease—is mainly responsible for the recent rise in the amount and scope of applications of genome editing technologies. The CRISPR platform's ease of use, as compared to previous technologies, has resulted in its widespread adoption and application. Genome editing could have a favorable impact on sustainable development, environmental management, food security, and the introduction of affordable diagnostics and therapies for various diseases due to these advancements.
A team from MIT and Harvard's Broad Institute has developed a novel CRISPR genome-editing technique that has the potential to fix up to 89% of disease-causing genetic abnormalities. CRISPR-Cas9 and reverse transcriptase, two of the most significant proteins in molecular biology, have been merged into a single machine by researchers. Prime editing is a method that can alter human cells directly in a precise, efficient, and highly versatile manner. They have also developed a CRISPR RNA-cutting enzyme into an antiviral agent that can be programmed to detect and eliminate RNA-based viruses in human cells. The Cas13 enzyme has previously been used to cut and alter human RNA and as a diagnostic approach for detecting the presence of viruses, bacteria, and other targets. This is one of the first studies to use Cas13, or any CRISPR system, as an antiviral in human cells in culture.
Recognizing the potential of genome editing techniques for studying and manipulating the genome, the DBT has been fostering research and innovation in genome engineering technologies and applications to make them more accessible and inexpensive for research and development (R & R&D). Through focused calls for proposals in different areas such as the development of new methods, tools, processes, and platforms for genome editing, improvement of existing genome-editing methods, and novel applications of genome editing technologies in agriculture, bioenergy, environmental research, and human health, efforts have been made to encourage R&D programs in emerging genome engineering technologies and their applications. Despite contributing to one-third of all deaths worldwide, there is no effective treatment, to date, for fibrosis. This study has established PAI-1 as a novel drug target, and pharmacologically targeting this protein may be an effective treatment for combating fibrosis. These factors for CRISPR system research are likely to favor the market's growth.
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Global Genome Editing Market: End User Overview
The global genome editing market, based on end user is segmented into pharmaceutical and biotechnology companies, academic and research institutes, and clinical research organizations (CRO's). In 2021, the pharmaceutical and biotechnology companies segment is likely to hold the largest share of the market. Moreover, the segment is also expected to witness growth in its demand at a fastest CAGR of 18.9% during 2021 to 2028, owing to the rise in the detection and diagnosis of various medical conditions across the globe.
The rise in the market for the biotechnological products and various related market has resulted into the enormous market consolidations in between biotechnology and pharmaceutical companies for the enhanced and better treatment options. The growing investments made by companies have grown the pharmaceutical & biotechnology companies segment in the market. For instance, in October 2020, Merck signed agreements licensing its CRISPR technology to two companies PanCELLa, a cell therapy company based in Toronto, Canada and Takara Bio USA, Inc.
The technological development in the molecular biology increased the sequencing procedures. Among the market leaders the companies have manufactured and designed technologically advanced NGS technology in last few years and various collaborations, investments made by the companies and the technological advancements have grown the pharmaceutical & biotechnology companies segment in genome editing market.
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