Gene Editing Market worth $10.6 billion by 2028

The report "Gene Editing Market by Product & Service (Reagents, Consumables, Systems, Software), Technology (CRISPR, TALEN, ZFN, Antisense), Application (Cell Line Engineering, Genetic Engineering, Drug Discovery), End User (Pharma, Biotech) - Global Forecast to 2028", size is projected to reach USD 10.6 billion by 2028 from USD 5.3 billion in 2023, at a CAGR of 15.0%.

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The key driving factors of the gene editing market include expanding applications of genomics, robust funding initiatives by government for genomics projects, and the introduction of CRISPR-Cas9 for genome editing. High costs associated with gene editing equipment pose challenge to the market growth. The rise in government funding and the growth in genomics projects have profoundly impacted the gene editing market. Increased financial support has enabled researchers and scientists to explore new applications, refine existing technologies, and overcome technical challenges. In August 2022, MedGenome (India) announced a USD 50 million investment led by Novo Holdings, an international leader in life science investing. Moreover, in April 2020, MedGenome (India) raised USD 55 million with the help of LeapFrog Investments (UK) to make genetic testing services more accessible and affordable in India. This investment is also expected to help create genetically diverse data sets and support the discovery of new drug targets across the globe.

The reagents and consumables segment accounted for the largest share of the gene editing market in 2022

Based on product & service, the gene editing market is segmented into reagents & consumables, software & systems, and services. The reagents & consumables segment accounted for the largest share in 2022, particularly due to the frequent purchase of reagents in gene editing protocols coupled with high demand for genetic sequencing and editing. Reagents and consumables include various products, such as purification, library preparation, and target enrichment kits. Target enrichment kits allow researchers to target human or non-human DNA sequences of interest through custom-designed gene panels or focused exomes. A target enrichment kit consists of master-mix reagents and assays for isolating genomic regions of interest. These kits are used for editing exome sequences.

The CRISPR segment is expected to grow at the highest CAGR from 2023 to 2028

Based on technology, the gene editing market is segmented into CRISPR, TALEN, ZFN, antisense, and other technologies. The CRISPR segment accounted for the largest share of the gene editing market in 2022. Several factors such as ease of use, technical advantage over ZFN and TALEN, capability of generating large set of vectors to target numerous sites or genome-wide libraries have contributed to the dominance of the CRISPR segment in the market.

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The pharmaceutical & biotechnology companies segment accounted for the largest share of the global gene editing market in 2022

The gene editing market is segmented into pharmaceutical & biotechnology companies, academic & research institutes, and other end users based on the end user. Pharmaceutical & biotechnology companies accounted for the largest share of the gene editing market in 2022. The large share of this segment can be attributed to the rise in the use of CRISPR technology, which is expected to increase the applications of gene therapies and provide remedies for genetic disorders, such as sickle-cell anemia.

North America dominates the global gene editing market throughout the forecast period

The gene editing market is segmented into five major regional segments, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2022, North America accounted for the largest share in the gene editing market, which is attributed to the technological advancements, established research infrastructure, and demand for precision medicine.

The prominent players in the global gene editing market include Merck KGaA (Germany), Thermo Fisher Scientific, Inc. (US), GenScript (China), Agilent Technologies (US), PerkinElmer (US), Lonza (Switzerland), Tecan Life Sciences (Switzerland), Sangamo Therapeutics (US), Editas Medicine (US), CRISPR Therapeutics AG (Switzerland), Precision Biosciences (US), Cellectis (France), Intellia Therapeutics (US), Bluebird Bio, Inc. (US), Regeneron Pharmaceuticals (US), AMSBIO (England), Creative Biogene (US), Synthego Corporation (US), and Beam Therapeutics Inc. (US).

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