Gene Editing Market to witness 14.5% CAGR by 2024: CRISPR Therapeutics, Addgene, Allele Biotech, Bio-Rad, Takara Bio, DNA2.0, Integrated DNA Technologies
Genetic technology is still evolving, and research plays an important role in exploring its potential. Recently, Genome Canada partnered with the Canadian federal government, several other provincial governments, research groups and businesses to fund numerous projects focused on applying genomics to human health, environment, and agriculture. Along similar lines, a charity founded by veteran actor and Parkinson’s patient Michael J Fox reportedly invested $226,000 in a pioneering New Zealand study battling the disease from a new angle. Revelations from such large scale studies will aid in boosting the overall gene editing process, which will certainly help the global gene editing market gain traction over the foreseeable years.
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U.S. gene editing market will witness 14.5% CAGR by 2024 owing to increasing funding for research and development in genetic editing technologies. As per National Center for Advancing Translational Sciences 2018 report, National Institute of Health (NIH) got $86 million funding for improving genome editing techniques. Moreover, rising prevalence of Alzheimer, cancer and infectious diseases in country. As per Alzheimer?s association 2018 report, an estimated 5.7 million Americans of all ages are living with Alzheimer's. Increasing patient preference towards advanced gene editing tools such as CRISPR/Cas9 for the treatment of Alzheimer's should drive gene editing business expansion.
Research institutes segment accounted for 30.2% revenue share in 2017 owing to increasing focus on developing innovative therapeutics models in CRISPR and ZFN. Moreover, growing incidences of rare genetic diseases has resulted in high demand for research activities for developing new therapies will propel segmental growth over the coming years.
Gene Editing Market will exceed USD 7.5 billion by 2024; as per a new research report. Rising prevalence of cancer and other genetic disorders coupled with increasing demand for personalized medicine should stimulate gene editing industry expansion. As per WHO 2018 report, cancer is the second leading cause of death globally and is responsible for an estimated 9.6 million deaths. Increasing use of the gene editing tools for treatment of these chronic disorders will favor business growth. Moreover, increased government funding programs will significantly impact industry growth over the forecast timeframe.
Animal genetic engineering segment was valued at USD 785.4 million in 2017 and is projected to grow significantly over the forecast timeframe. Growing applications of products obtained from domestic animals has boosted the demand for gene editing technique. In addition, wide applicability of these techniques in animal genetic engineering is also a contributing factor for business growth. For instance, Pigs are susceptible to an infection called Porcine Reproductive and Respiratory Syndrome (PRRS). Gene editing techniques have managed to produce pigs that are resistance to this disease.
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Zinc Finger Nucleases (ZFNs) segment will witness 14.5% CAGR from 2018 to 2024. The segment growth is attributed to increasing adoption of these advanced gene editing tools in research institutes and biotech industries. ZFNs technology offers various advantages including, the mutations made by this technology are permeant and heritable. Zinc finger nucleases are useful to manipulate the genomes of many plants and animals and also has important role in gene editing processes.
China gene editing market was valued at USD 154.6 million in 2017 and is estimated to experience considerable growth due to rising R&D expenditure and growing number of industry players. Moreover, various initiatives taken by the Chinese government for promoting life science research in biotechnology sector will stimulate gene editing market growth in forthcoming years.
Some of the prominent competitors operating in gene editing market include Addgene, Allele Biotech, Bio-Rad, Takara Bio, CRISPR Therapeutics, DNA 2.0, Editas Medicine, Intellia Therapeutics, Integrated DNA Technologies, Juno Therapeutics, OriGene Technologies, Promega, Precision Biosciences and Recombinetics. Industry competitors are mainly focusing on inorganic strategies such as partnership, merger and acquisitions to escalate their market position as well as strengthen product offerings.
In the field of agriculture, gene editing can create plants that not only produce higher yields but are also high in nutrition and more resistant to droughts, pests, and extreme weather conditions. CRISPR is a gene-editing tool that has significantly transformed the genome engineering technology and benefited several agricultural and medical innovations . Recently, a Dutch research group used the technology to modify wheat gluten, allowing people with celiac disease consume gluten-based products without experiencing debilitating symptoms, helping patients switch from expensive gluten-free products to affordable whole-grain foods. Therefore, the escalating adoption of CRISPR technology in the food industry will significantly contribute to the gene editing market share over the years to come.
Table of Content:
Chapter 1. Methodology
1.2. Market definitions
1.3. Forecast parameters
1.4. Data sources
220.127.116.11. Paid sources
18.104.22.168. Unpaid sources
Chapter 2. Executive Summary
2.1. Gene editing industry 360 degree synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Application trends
2.1.3. Technology trends
2.1.4. End-user trends
2.1.5. Regional trends
Chapter 3. Gene Editing Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry impact forces
3.3.1. Growth drivers
22.214.171.124. Increased funding for genetic research in North America
126.96.36.199. Increased R&D expenditure and growth of biotechnology sector in Europe
188.8.131.52. Increasing demand for synthetic genes in Asia Pacific and North America
184.108.40.206. Technological advancements in gene editing in North America
3.3.2. Industry pitfalls and challenges
220.127.116.11. Stringent government regulations
18.104.22.168. Lack of public awareness in developing and underdeveloped regions
3.4. Growth potential analysis
3.4.1. By application
3.4.2. By technology
3.4.3. By end-user
3.5. Competitive landscape, 2017
3.5.1. Strategy dashboard
3.6. Porter's analysis
3.7. PESTEL analysis
Chapter 4. Gene Editing Market, By Application
4.1. Key segment trends
4.2. Cell line engineering
4.2.1. Market size, by region, 2013-2024 (USD Million)
4.3. Animal genetic engineering
4.3.1. Market size, by region, 2013-2024 (USD Million)
4.4. Plant genetic engineering
4.4.1. Market size, by region, 2013-2024 (USD Million)
4.5. Other applications
4.5.1. Market size, by region, 2013-2024 (USD Million)
Chapter 5. Gene Editing Market, By Technology
5.1. Key segment trends
5.2.1. Market size, by region, 2013-2024 (USD Million)
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Global Gene Editing Technologies Market Size, Status and Forecast 2019-2025
Genome editing is a type of genetic engineering in which DNA is inserted, deleted, modified or replaced in the genome of a living organism.
In 2018, the global Gene Editing Technologies market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2019-2025.
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