PUBLISHER: SkyQuest | PRODUCT CODE: 1286006
PUBLISHER: SkyQuest | PRODUCT CODE: 1286006
Genome Editing Market size was valued at USD 4811.04 million in 2021 and is poised to grow from USD 5887.06 million in 2022 to USD 36060.95 million by 2030, growing at a CAGR of 22.3% in the forecast period (2023-2030).
A method for altering the DNA of a cell or an organism is genome editing. DNA sequences are cut during the procedure to add or remove DNA from the genome. The genome is modified to provide the cell the characteristics it requires. In order to support genome-altering research, numerous governments throughout the world are increasing their resources and grants. Due to the advantages of genome editing, governments are also funding public and commercial research as well as academic foundations to broaden the study of genome editing and hereditary designing. This results in the positive growth of the Genome Editing Market during the time of forecasting.
Factors driving the genome editing market include the increasing prevalence of disease and other hereditary conditions, growing demand for customised medications, growth in R&D spending and biotechnology and pharmaceutical business development, rise in private and public sector funding, rapid advances in sequencing, and developments in genome editing.
In recent years, the market has grown primarily due to the increased demand for synthetic genes in a range of biotechnology fields and the expanding use of CRISPR genome editing technology.
Due to the growing number of applications for genome editing tools, there is also more competition among market participants in the genome editing industry. More focus has been placed on the flexible CRISPR technology. For instance, Vertex Pharmaceuticals paid CRISPR Therapeutics USD 900 million in April 2021 for the development, production, and marketing of CRISPR-Cas9 gene-edited therapies for beta-thalassemia and sickle cell disease. These measures should accelerate the expansion of the genome editing market.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Genome Editing Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
The Global Genome Editing Market is segmented based on Technology, Delivery Method, Mode, End-use, Application, and Region. Based on Technology it is categorized into CRISPR, TALEN, ZFN, Antisense, and Other Technologies. Based on the Delivery Method it is categorized into Ex-vivo and In-vivo. Based on Mode it is categorized into Contract, In-house. Based on End-use it is categorized into Biotechnology & Pharmaceutical Companies, Academic & Government Research Institutes, and Contract Research Organizations. Based on the Region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Driver
In recent years, governments from many different nations have made large investments in the science of genomics, which has greatly aided the development of novel genome editing tools. In-depth genome engineering/editing research has also been made possible by the availability of government funding for university and government institutions. For instance, in March 2020, the Ministry of Innovation, Science, and Industry (Science) announced a USD 15 million grant to Genome Canada to fund 11 genomic research initiatives in the fields of health, agriculture, and the environment. These projects will receive a combined investment of USD 29.7 million from provincial governments, companies, and research partners. Among the initiatives is research into cervical and ovarian cancer. Due to large government investments in genomics, the number of genomics research programmes has expanded significantly. Therefore, growth in the genome editing market is anticipated during the course of the forecast period.
The market will grow due of how simple CRISPR/CAS9 is to employ. Compared to other methods of genome editing, this technology area is straightforward and reasonably priced.Through the application of gene editing technology, cancer can be treated with this method.
Restraint
Off-target effects of CRISPR-Cas9 are a significant worry. However, because Cas9 causes double-stranded breaks, any off-target nuclease activity can lead to changes in these genes, which may result in oncogenesis. When there are one to three mismatches in the target, CRISPR-Cas9 can tolerate them without producing off-target nuclease activity. The high frequency of off-target activity (50%)-mutations at locations other than the targeted on-target location-is another significant cause for concern. For instance, CRISPR can turn on the cancer-causing gene or target the genes that limit tumour growth. This adverse consequence has caused problems for numerous companies organising clinical trials. In order to increase the safety of this procedure, clinical studies have been stopped, and regulatory authorities are recommending more research.
The sophisticated features and functionality of genomic instruments are a key factor in their high price. It costs between $10 million and $20 million dollars. Pharmaceutical businesses and small- and medium-sized laboratories cannot afford the equipment at these high prices. It could be a significant barrier to the market's growth.
Market Trends
Major pharmaceutical, biotechnology, and genomic companies have all made investments in vaccine research and development as a result of the COVID-19 pandemic. The demand for vaccinations and potential antiviral treatments has brought genome editing/engineering technologies to the fore; these reasons are anticipated to propel the genome editing market in the years to come.
In comparison to traditional diagnostic or therapeutic approaches, molecular biology techniques like SHERLOCK, DETECTOR, CARVER and PAC-MAN based on CRISPR-Cas12/13, antisense peptide nucleic acids, ribozymes, aptamers, and RNAi silencing therapies, as well as antisense peptide nucleic acids, aptamers, and aptamers, proven crucial in COVID-19 outbreaks. Such aspects have emerged as significant drivers and are anticipated to propel the Genome Editing Market over the projected year. These technologies served as modern diagnostic and therapeutic approaches, from quicker and simpler diagnosis to more focused virus detection and elimination.