Recent 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. The growth of the 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. On the other hand, the off-target effects of CRISPR technology and high equipment costs may hinder the growth of this market.
According to the new market research report Genome Editing 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, published by MarketsandMarkets™, the global Genome Editing/Genome
Engineering 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.
Browse in-depth TOC on "Genome Editing/Genome Engineering Market"
147 – Tables
48 – Figures
208 – Pages
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The
reagents & consumables segment accounted for the largest share of
the product & service segment in the genome editing market in 2020.
Based
on product & service, the 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. The growing applications of genomics in various
fields are expected to boost the market for consumables during the
forecast period.
The CRISPR segment accounted for the largest
share of the technology segment in the genome editing/genome engineering
market in 2020.
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 editing/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 is driving the growth of this segment.
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The
cell line engineering segment accounted for the largest share of the
application segment in the genome engineering market in 2020.
Based
on application, the genome editing 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. Several factors, such as increasing funding from
governments and private organizations, growing focus on stem cell
research by various companies, and rising global awareness about stem
cell therapies, are driving the growth of the cell line engineering
segment.
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