Genome Editing Market : Emerging Market Trends, Top Growing Segments & Future Developments

2022-07-15 05:40:29 UTC | Healthcare & Pharmaceuticals
Genome Editing Market : Emerging Market Trends, Top Growing Segments & Future Developments
Developments in the genome editing market 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.

According to research report the global genome editing market size is expected to grow at a CAGR of 18.2% during the forecast period. The global genome engineering market is projected to reach USD 11.7 billion by 2026 from USD 5.1 billion in 2021.

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 genetic 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 product & service, the genome editing 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 application, the 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.

The Gene Editing Market is divided into five major regions—North America, Europe, Asia Pacific, Latin America (LATAM), and the Middle East and Africa (MEA). North America accounted for the largest share of this market, followed by Europe in 2020.

The key factors driving the growth of the market in North America include the development of gene therapy, increased use of GM crops, and a rise in the availability of research grants and funding in the US. The market in Canada is expected to witness growth in the coming years owing to various government initiatives and the intensification of genomics R&D (through GAPP) in the country.

Browse 147 market data Tables and 48 Figures spread through 208 Pages and in-depth TOC on "genome editing market"

Mr. Aashish Mehra
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