Dublin, Dec. 20, 2021 (GLOBE NEWSWIRE) -- The "Genome Editing/Genome Engineering Market - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global genome editing/genome engineering market is expected to reach USD 11.7 billion by 2026 from USD 5.1 billion in 2021, at a CAGR of 18.2% during the forecast period.
The growth of the genome editing/genome engineering market is expected to be driven by the rise in government funding and growth in the number of genomics projects, increased application areas of genomics, and the introduction of CRISPR-Cas9 for genome engineering.
"The services segment accounted for the highest growth rate in the genome editing/genome engineering market, by product & service, during the forecast period"
In 2020, the services segment accounted for the highest growth rate. The genomic editing/genome engineering services market is segmented into sequencing services; data analysis; bioinformatics services; and other services, such as informatics, clean up, gene expression, and DNA synthesis services.
Most companies in the services sector offer all these services. Although the services segment represents a major part of the market, some end users have in-house sequencing and bioinformatics capabilities. Service providers possess highly advanced and multiple sequencing platforms and make use of high-quality consumables/kits.
They also have multiple sequencing platforms, which enables these service providers to choose the most appropriate system to solve the scientific challenges of their customers and promptly deliver high-quality sequencing at a low cost.
"The CRISPR segment accounted for the largest share of the application segment, by technology, in the genome editing/genome engineering"
In 2020, the CRISPR technology accounted for the largest share. Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) is a revolutionary tool used to edit genes in a way that resembles traditional GMO techniques. The use of the Cas9 enzymes differentiates CRISPR from other forms of genetic modification.
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.
"Asia Pacific: The fastest-growing region in the genome editing/genome engineering market"
The genome editing/genome engineering market is segmented into North America, Europe, Asia Pacific, Latin America (LATAM) and Middle East and Africa (MEA). Increasing government support, and developing R&D infrastructure Increasing investments in research and rising number of applications of gene synthesis for genetic engineering of cells and tissues of organisms are the major factors fueling the growth of the genome editing/genome engineering market in the Asia Pacific region.
Thermo Fisher Scientific (US), Merck KGaA (Germany), GenScript (China), and PerkinElmer (US) dominated the genome editing/genome engineering market in 2020. Other prominent players in this market include CRISPR Therapeutics AG (Switzerland), Tecan Life Sciences (Switzerland), Precision Biosciences (US), Agilent Technologies (US), and Cellectis S.A (France), among others.
Premium Insights
- Growing Investments in Genomics Research to Drive Market Growth
- Reagents & Consumables Segment Accounted for the Largest Share of the Genome Editing/Genome Engineering Market in North America in 2020
- Crispr Segment Accounted for the Largest Share in the Genome Editing/Genome Engineering Market in 2020
- Cell Line Engineering Segment Expected to Dominate the Applications Market in 2026
- Pharmaceutical Companies Segment Accounted for the Largest Market Share in 2020
- Asia-Pacific to Register the Highest Growth in the Genome Editing/Genome Engineering Market from 2021 to 2026
Market Dynamics
Drivers
- Rise in Government Funding and Growth in the Number of Genomics Projects
- Increased Application Areas of Genomics
- Introduction of Crispr-Cas9
Restraints
- Off-Target Effects of Crispr Technology
Opportunities
- Extensive Use of Genome Editing in Personalized Medicine
- High Growth Prospects for the Market in Emerging Countries
Challenges
- High Equipment Costs
Ranges/Scenarios
Impact of COVID-19 Outbreak on the Genome Editing/Genome Engineering Market
Trends/Disruptions Impacting Businesses of Customers
Value Chain Analysis
Technological Analysis
Regulatory Analysis
- Regulations for Products Developed Using Genome Editing/Genome Engineering Technology
- US
- China
Companies Mentioned
- Agilent Technologies
- Beam Therapeutics
- Bluebird Bio Inc.
- Caribou Biosciences
- Cellectis S.A
- Creative Biogene
- Crispr Therapeutics Ag
- Editas Medicine
- Genscript
- Integrated Dna Technologies
- Intellia Therapeutics
- Lonza
- Merck Kgaa
- New England Biolabs
- Origene Technologies
- Perkinelmer
- Precision Biosciences
- Recombinetics
- Regeneron Pharmaceuticals Inc.
- Sangamo Therapeutics
- Synthego Corporation
- Tecan Life Sciences
- Thermo Fisher Scientific
- Transposagen Biopharmaceuticals [Hera Biolabs]
- Vigene Biosciences
For more information about this report visit https://www.researchandmarkets.com/r/lksd8t
