Gene Editing Market to Be Valued USD 36.4 Billion by 2032, North America in the Lead - Marketresearch.biz Report
Marketresearch.biz highlights that the growth of gene editing market is driven by increased genetically modified crop production and rising demand for synthetic genes in emerging markets, particularly for crop enhancement. CRISPR/Cas9 technology is often researchers' top choice for crop development and modification.
New York, Oct. 23, 2023 (GLOBE NEWSWIRE) -- The gene editing market which was valued at USD 7.2 billion in 2022 is expected to witness a CAGR of 18.1%, from 2023 to 2032. It is expected USD 36.4 billion by 2032.
Gene editing involves modifying the DNA sequence of organisms using enzymes such as CRISPR/Cas9, TALENs or ZFNs. Its applications are diverse ranging from treating diseases to improving the quality of crops and providing insights into disease mechanisms. The adoption of gene editing is rapidly expanding across fields like medicine and agriculture. Recent technological advancements have greatly enhanced the speed, precision and simplicity of DNA modification for research, medicine, agriculture, biotechnology and pest control purposes.
Collaborations and innovations like CRISPR are further driving market growth. The increase in Research & Development (R&D) activities focused on gene editing significantly contributes to the markets revenue generation. Notably institutions like the University of Maryland have developed techniques such as CRISPR that enhance genetic engineering capabilities for crops with support from organizations like USDA. The expansion of the market is fueled by government regulations as an increasing demand for engineered genes and cells coupled with rising investments from both public and private sectors. Moreover, advancements in gene therapy systems and the potential for analysis of gene function, on a wide scale are influencing market growth during the forecast period.
Gain a competitive edge with market intelligence, Request a Gene Editing Market sample report at - https://marketresearch.biz/report/gene-editing-market/request-sample/
Key Takeaways
CRISPR/Cas9 technology is currently leading the market accounting for a 43.7% share of revenue.
In the field of genetic engineering which includes stem cell therapies and research have highest revenue share commanded at 69.2%. This growth can be attributed to the growing demand, for biopharmaceuticals. Intensified efforts in drug discovery.
North America holds the position in the gene editing market with a share of 40%.
Europe presents an opportunity due to its presence of pharmaceutical and biotech companies expanding research institutes and substantial investments in research and development (R&D).
Asia Pacific and Latin America are showing growth potential due, to increased investments, government initiatives and an emerging presence of pharmaceutical and biotech activities.
Driving Factor
Increased Production of Genetically Modified Crops Is Expected to Accelerate the Growth of the Genome Editing Market
The adoption of editing methods is gaining popularity in the advancement of crops. Presently gene editing is utilized to enhance crop yield boost their resistance against pests and diseases and make them more adaptable to conditions. The global demand for modified crops is on the rise due to population growth and the necessity for increased food production. As a result, gene editing is contributing to the expansion of modified crops, in the market.
Rising Synthetic Genes Demand in Emerging Markets Will Drive Industry Expansion
The gene editing market is expected to experience growth during the study period, due to the increasing demand for genes in developing countries. Synthetic genes especially are highly suitable for enhancing modified (GM) crops in emerging economies. By modifying plant metabolic pathways synthetic genes have the potential to enhance efficiency and improve quality. When it comes to developing and modifying crops researchers often prefer using CRISPR/Cas9 technology. However, it is important to note that this method requires government approvals for producing modified crops.
Get a PDF For Customizable Frameworks, Models, And Methodologies @ https://marketresearch.biz/report/gene-editing-market/request-sample/
Restraining Factor
The High Cost of Gene Editing Equipment Is Stifling the Market for Gene Editing
Gene instruments are equipped with functionalities and features which's why they fall into the premium price range of 10 to 20 million USD. The acquisition cost of these instruments is generally high, for companies and research institutions. However smaller pharmaceutical companies and research facilities may face challenges in investing in instruments due to constraints. Similarly, academic research labs often have budget limitations that make it difficult for them to afford these systems. Nevertheless, advancements in technology are paving the way for the development of devices. As a result, the high costs of equipment may not be a long term obstacle, to the growth of the Gene Editing market.
Growth Opportunity
High R&D Expenditures and Swift Adoption of Advanced Technologies Are Advancing the Gene Editing Market
The increasing demand for gene editing is primarily fueled by its applications in fields, including therapeutics, agriculture, biotechnology and mutation studies. Approaches like recombination offer promising possibilities for improving crop quality. Additionally, the markets growth can be attributed to the growing utilization of gene editing in disease treatment and addressing disorders. Investments in research and development from both sectors also contribute to expanding the market and creating opportunities for the future.
Utilizing Functional Genes for Drug Discovery
The field of drug discovery has been significantly advanced by the use of cutting edge gene editing tools, like CRISPR Cas9, combined with genomics. This collaboration enables scientists to make modifications to genes providing insights into their functions within processes and their contributions to disease mechanisms. It simplifies the drug development process by identifying targets along disease pathways thus opening up possibilities for medicine and breakthroughs in treating genetic disorders. Additionally, it speeds up the drug screening process by utilizing models revolutionizing therapy development. This integration represents an era, in research that empowers scientists to unravel disease mechanisms and create treatments.
Navigate market trends with confidence - Request a sample report.
Report Scope
Report Attribute | Details |
Market Value (2022) | US$ 7.2 Billion |
Market Size (2032) | US$ 36.4 Billion |
CAGR (from 2023 to 2032) | 18.1% from 2023 to 2032 |
North America Revenue Share | 40.0% |
Historic Period | 2016 to 2022 |
Base Year | 2022 |
Forecast Year | 2023 to 2032 |
Regional Analysis
North America has emerged as the leading region, in the gene editing market accounting for 40% of the market share. Europe and Asia Pacific follow behind. The dominance of North America is expected to continue due to government funding for modification support increased adoption of GM crops and advancements in gene therapy.
Europe with its expanding pharmaceutical and biotech companies, research institutes and substantial investments in research and development (R&D) holds potential to capture a market share.
Meanwhile Asia Pacific shows promising growth prospects fueled by increased investments from players in the industry and government initiatives aimed at supporting startups. Additionally, Latin America exhibits encouraging growth opportunities in the genome editing market driven by a rise, in pharmaceutical and biotech activities.
Want to identify emerging opportunities and plan for industry shifts? Speak to Our Analyst @ https://marketresearch.biz/report/gene-editing-market/#inquiry
Segment Analysis
CRISPR/Cas9 is currently leading the gene editing market holding a 43.7% share of revenue. It is expected to maintain its dominance. This technology precision and efficiency have made it widely popular, for editing genes in fields such as cell lines, animals and plants. Its adoption has been pivotal in trials targeting diseases like AIDS, cancer and genetic disorders which have had an impact on healthcare, agriculture and biotechnology. Additionally, the TALENs technology that enables gene editing using DNA binding proteins is poised for expansion. It has promising applications in therapy, agriculture and disease modeling.
Genetic engineering as a whole holds a 69.2% revenue share driven by research on stem cells and the funding they receive. Animal genetic engineering shows potential for growth while plant engineering anticipates growth to enhance crop resilience.
In terms of revenue share within the industry itself biotech and pharmaceutical companies dominate with 53.2%. This is fueled by their efforts in research along with partnerships like the one, between CANbridge Pharmaceuticals and LogicBio Therapeutics. Their collaboration aims to treat Methylmalonic Acidemia using LogicBios LB 001 technology exclusively in Greater China.
Segments Covered in the Report
By Technology
CRISPR
TALEN
ZFN
Antisense
Others
By Application
Genetic Engineering
Gene Therapy
Cell Line Engineering
Others
By End User
Biotechnology and Pharmaceutical Companies
Contract Research Organizations and Academic
Government Research Institutes
By Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
Grow your profit margin with Market.us - Purchase This Premium Report at - https://marketresearch.biz/purchase-report/?report_id=41763
Competitive Landscape Analysis
The gene editing market is quite competitive, with companies striving to gain market share through research, development, partnerships and investments. The industry is somewhat fragmented due to increasing competition and strategic decisions aimed at improving efficiency.
To expand their range of products and introduce offerings companies have pursued mergers and collaborations. The growth of players in this industry relies on factors like market conditions, government support and advancements within the field. Key manufacturers in the gene editing market are focused on developing products using technologies. Increased investment, in research and development is expected to fuel the growth of the market.
Key Market Players
Thermo Fisher Scientific
Merck KGAA
Horizon Discovery Group Plc
Genscript
Biotech Corporation
Sangamo Biosciences
Integrated DNA Technologies
Lonza Group Ltd
New England Biolabs
Origene Technologies
Transposagen
Biopharmaceuticals
New England Biolabs, Inc
CRISPR Therapeutics
Intellia Therapeutics, Inc.
Caribou Biosciences, Inc.
AstraZeneca
Takara Bio USA
Egenesis Inc.
Recent Development
In October 2023 Intellia Therapeutics obtained FDA clearance to begin a Phase III trial, for their therapy designed to treat genetic liver disease called NTLA 2001.
Researchers made a breakthrough in September 2023 by enhancing the effectiveness of the CRISPR Cas13 system in combating viruses. This advancement opens up possibilities for the development of approaches.
In September 2023 scientists introduced NICER, an editing method that shows a decrease in off target mutations compared to CRISPR/Cas9. The discovery of NICER represents a step in modification techniques by offering a precise and refined approach.
In January 2023 GenKOre, a company partnered with a company to explore new opportunities in the field of, in vivo gene editing therapies.
Browse More Related Reports
Genetically Modified Seeds Market size is expected to be worth around USD 54.5 Bn by 2032 from USD 24.6 Bn in 2022, growing at a CAGR of 8.5% during the forecast period from 2023 to 2032.
Epigenetics Market size is expected to be worth around USD 63.59 Bn by 2032 from USD 20.29 Bn in 2022, growing at a CAGR of 12.1% during the forecast period from 2023 to 2032.
Hemoglobin Testing Market size is expected to be worth around USD 5.5 Bn by 2032 from USD 2.94 Bn in 2022, growing at a CAGR of 6.71% during the forecast period from 2023 to 2032.
Nephrology Drugs Market size is expected to be worth around USD 26.9 Bn by 2032 from USD 16.2 Bn in 2022, growing at a compound annual growth rate of 5.35% during the forecast period from 2023 to 2032.
DNA Diagnostics Market size is expected to be worth around USD 18.1 Bn by 2032 from USD 11.5 Bn in 2022, growing at a CAGR of 4.78% during the forecast period from 2023 to 2032.
About Us:
MarketResearch.Biz (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. MarketResearch.Biz provides customization to suit any specific or unique requirement and tailor-made reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.
Follow Us on LinkedIn: https://www.linkedin.com/company/marketresearch-biz/
Follow Us on Facebook: https://www.facebook.com/marketresearch.biz
Follow Us on Twitter: https://twitter.com/PrudourResearch
CONTACT: Global Business Development Team – MarketResearch.biz MarketResearch.biz (Powered By Prudour Pvt. Ltd.) Email: inquiry@marketresearch.biz Address: 420 Lexington Avenue, Suite 300, New York City, NY 10170, United States Tel: +1 347 796 4335 Website: https://marketresearch.biz/
