Gene Editing Market Is Projected to Reach $7.4 Billion by 2031 | Addgene, Allele Biotech, Bio-Rad, Takara Bio

According to the report published by Allied Market Research, the global Gene Editing Market was estimated at $3.9 billion in 2021, and is anticipated to hit $7.4 billion by 2031, registering a CAGR of 6.7% from 2022 to 2031. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.

Key factors driving the growth of the global gene editing market are increasing R&D spending and growth in biotech and pharmaceutical industries, increasing private and public funding, rapid advances in genome sequencing and editing, products edit cells that are not labelled. such as Genetically Modified Organisms (GMOs) and applications in various drug discovery processes are some of the factors driving personalized medicine forward. The promise of genome editing in the treatment of genetic diseases, infectious diseases and cancer has been highlighted in some areas, particularly in North America.

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Gene editing also known as genome editing, is a field of study that aims to modify genes in live animals in order to better understand gene function and create treatments for hereditary and acquired disorders. In many different types of cells and species, genome editing can be used to fix, introduce, or delete practically any DNA sequence. While DNA editing techniques have been around for decades, new ways have made it faster, cheaper, and more efficient. The revelation that a broken portion of DNA in a gene stimulates a cell's repair system to patch the split together led to the development of genome editing. Researchers can use genome editing to replicate the natural process of DNA repair. Zinc-finger nucleases (ZFNs), transcription activator-like effector nucleases (TALENs), and mega nucleases are advanced genome editing technologies based on proteins. Another approach is CRISPR/Cas9, which stands for clustered regularly interspaced short palindromic repeats.

Increased R&D expenditure in gene editing in BRICS countries, growth of the biotechnology and pharmaceutical industries, increase in private and public sector funding for gene editing, rapid advancements in sequencing and genome editing technologies, non-labelling of gene-edited products such as Genetically Modified Organisms (GMOs) and applications of gene editing in various drug discovery processes drive the growth of the global gene editing market. However, the high cost of genomic equipment is a factor that act as a restraint for the market growth. Moreover, the growing demand for synthetic genes for medicine development to cure cancer is expected to provide opportunities for the growth of the gene editing market in future.

Key Market Players:

Addgene,
Allele Biotech,
Bio-Rad,
Takara Bio,
CRISPR Therapeutics,
OriGene Technologies,
Precision Biosciences,
GE Healthcare,
Merck KGaA,
ThermoFischer Scientific Inc.

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Region-wise, in gene editing industry, North America accounted for more than 6.6% of the global market share in 2021 with largest revenue of $1,723.2 million, during the forecast period. This was attributed to surge in cases of cancer and genetic disorders. Asia-Pacific is projected to register the highest CAGR of 7.7% during the forecast period, owing to surge in medical and clinical advancements.

By end user, the gene editing market size is fragmented into biotechnology & pharmaceutical companies, academic & government research institutes, and contract research organizations. The biotechnology and pharmaceutical companies segment dominated the market in 2021 with a revenue of $2,311.49 million. In gene editing market size, growth of the largest growing segment is attributed to increase in funding in R&D for drug development and cancer treatments. Academic and government institutes are expected to grow with the highest CAGR of 7.2% during the forecast period.

Depending on application, the gene editing market share is segmented into gene editing, cell line engineering, animal genetic engineering, plant genetic engineering, drug development, and others. The others segment is further classified into bioenergy, diagnosis, cell and gene therapies, microorganisms genetic engineering, drug discovery, GMO (genetically modified organisms), vaccine development, and basic research. The gene editing segment dominated the market in 2021 with a revenue of $1,123.16 million and is expected to grow with the highest CAGR of 8.2%. Growth of the segment is attributed to surge in clinical diagnosis and medical research.

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