Genome Editing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

[Report Description]

Increasing prevalence of cancer and other genetic disorders, growing preference for personalized medicine, Increase in R&D expenditure and growth of biotechnology and pharmaceutical industries, increase in private and public sector funding, rapid advancements in sequencing and Genome Editing technologies, non-labelling of gene-edited products such as Genetically Modified Organisms (GMOs), applications in various drug discovery processes are some of the factors propelling the growth of the genome editing market.

Genome editing has indicated a good potential for the treatment of genetic disorders, infectious diseases, and cancer. Along with the advantages, there are growing concerns about the risks and ethical issues associated with genome editing, that affect the market. The major ethical issues, include the off-target mutation development, imbalance of the environment, and illegal usage of genome editing. The perspective of the general public toward gene editing is negative. Several scientists have advocated for the ban or prohibition of genome editing. This has created a lot of pressure on companies involved in genome editing, as they are unable to find suitable subjects to carry out clinical trials, resulting in the hindrance in the innovation. Thus, it is acting as a major restraint for the growth of genome testing market. Additionally, high cost of genomic equipment is also acting as a restraint for the genome editing market.

Key Market Trends

CRISPR is fueling the growth of genome editing market

CRISPR is expected to dominate the genome editing market during the forecast period owing to its wide range of advantages such as its tailor-made option specific to the patient’s mutations for the disease like cystic fibrosis etc. Moreover, the rise in funding, initiatives by the government to develop vaccines, medical technologies, drugs, devices are further propelling the growth of the genome editing market globally. For instance, In May 2018, Feng Zhang s company Beam Therapeutics, new startup to develop CRISPR , officially came out with $87 million in series A funding and a mission to develop "precision genetic medicines" that use CRISPR technology to edit just one nucleotide base, or "letter," in the genome at a time. In 2018, Inscripta Colorado-based biotech acquired Solana Biosciences to ramp up the commercialisation of its gene-editing technology. Aiming to broaden access to CRISPR by offering new enzymes for free, and to boost CRISPR research by outfitting scientists with a full suite of tools. Furthermore, in 2017, Synthego and Thermo Fisher Scientific collaborated to manufacture and distribute synthetic guide RNA products for CRISPR genome engineering.

North America to Dominate the Genome Editing Market

The Genome Editing market is dominated by North America due to the strong growth trend in the pharmaceuticals and biotechnology industries and is followed by Europe. The North American meat industry, crop and cattle industry, equine, and canine breeding industry forms the largest consumer of genome editing services in the region. Additionally, genetic diseases, like cystic fibrosis, occur at a frequency of 1 in 2,500 birth in the United States.

Emerging economies of the Asia Pacific and Latin America are expected to show significant growth in the Genome Editing market due to an increase in the number of laboratories in these regions and development of existing ones for automation of various instrumentation systems, the expansion of leading genome editing companies and increased R&D spending.

Competitive Landscape

Biotech and pharma sectors dominating the industry owing to several applications in drug discovery and therapeutics. With the increase in the use of CRISPR and ZFN, companies are capitalizing on innovative researches focusing on the development of editing techniques. Key strategies implemented by industry players include mergers and acquisitions, strategic collaborations for R&D outsourcing or manufacturing activities are driving the market growth of genome editing. For instance, February 2018: Kite and Sangamo Therapeutics collaborated for developing next-generation engineered cell therapies, for the treatment of cancer. High growth potential in emerging regions provides new opportunities to industry players.

Additional Benefits:

• The market estimate (ME) sheet in Excel format


• 3 months of analyst support