Genome Editing Market is Expected to Reach $9.36 bn by 2027
The Genome Editing Market was valued at US$ 2.02 billion in the year 2019 and is estimated to reach US$ 9.36 billion by 2027, at a CAGR of 21.11%.
Genome editing is a technology that was discovered in the year 1987 by Yoshizumi Ishino and his team at Osaka University. The technology enables editing of the DNA sequence or the genetic material by adding or removing or altering a particular sequence in a specific location of the genome. Several methodologies have been developed that include Transcription Activator-like Effector Nucleases (TALEN), Zinc Finger Nucleases (ZFN), Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR), etc. Of which, CRISPR is one of the latest approaches that has immense potential due to its accuracy, efficiency and cost-effectiveness. Genome editing research had kindled the development of therapeutics for the prevention of several complicated genetic disorders such as haemophilia, sickle cell disease, cystic fibrosis, etc. Besides, genome editing is plausible to be used for disease such as cardiovascular disorders, cancer, psychological illness, etc.
In genome editing, DNA modification is precisely regulated to achieve superior efficiency and minimize off-target editing. Though ex vivo procedures can be performed using CAR-t approach, major diseases have to be treated in vivo. Among the diseases, haematological complications are anticipated to contribute to the growth of the technological front and the market.
Further, the biotech companies that are involved in genetic engineering and development of gene-based therapeutics hold the major market share and are expected to progress in the market share during the forecast period through to 2027 owing to huge investments in R&D, interest to develop therapeutics for complex disorders, technological advancement, etc. Besides, academic institutions and government organizations are also involving themselves to develop the technology by adapting to gene-editing technology and involved them in several research projects. This is expected to contribute more to the market growth. But, the drawbacks associated with the genome editing are the high cost, availability of experts, lack of implementation, etc. Also, religious beliefs and misconceptions among the population across geographies are expected to deter market growth. However, this is set to change in the future as many companies are set to initiate the services across geographies with more awareness programs to curb genetic disorders.
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North American region is the one which dominates the market share with a wide adaption of technologies, presence of major institutes and companies and the prevalence of complex disorders. Also, the acceleration in the field of personalized and precision medicine expected to fuel the market share. Further, the Asia Pacific region is anticipated to contribute to the market growth with China holding the major market share during the forecast period.
The present study provides an insight on the Genome Editing Market based on Application (Cell line Engineering, Genetic Engineering and Others); Technology (CRISPR, TALEN, ZFN, Antisense and Others); Product (Enzymes, Antibodies, Plasmids, RNAs, Libraries, Others); End User (Pharmaceutical & Biotech Companies, Academic & Research Institutes, others); and Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
The Key Market Players include Agilent, Allele Biotech, Applied Stemcell, Arbor Biotech, Astrazeneca, Australian Bioresources, Axol Bioscience, Bluebird Bio, Canopy Biosciences, CRISPR Therapeutics, Desktop Genetics, Editas Medicine, Horizon Discovery, Ixcells Biotech, Juno Therapeutics, Lonza, Mammoth Biosciences, Merck KgaA, Regeneron Pharma, Sangamo Biosciences, Takara, Thermo Fisher Scientific, Vertex Pharma and many more…
- Provides a detailed Analysis of the Market Structure along with forecast of the various segments and sub-segments.
- Provides a Comparative Analysis of Key Marketed and Pipeline Products.
- Provides Key Information on Players involved.
- Provides a Complete Overview of Market Segments and the Regional Outlook.
- Provides In-depth Coverage of Key News, including Major Mergers, Acquisitions and Product Development updates such as clinical trial progression updates and regulatory updates.
The Report Provides Key Insights on
- History of the Genome Editing Market, 2015 to 2017
- Forecast of the Genome Editing Market Growth till the year 2026
- The key market drivers, restraints, challenges, future opportunities and the market dynamics driving the Genome Editing Market
- Analysis of potential growth segments which will drive the market
- Landscape analysis of the major companies, and new market entrants and companies which possess disruptive technologies which can change the trend of the entire market
- Key market approaches adopted by the organizations and in-depth intelligence of potential strategies which could alter the market dynamics
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