Global Gene Editing Market Size, Share, Forecast Report, 2020-2027 Size, Share, Forecast Report, 2020-2027

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The global gene editing market is expected to grow at a CAGR of more than 14% during the forecast period. The market growth is attributed to the increasing prevalence of cancer and other genetic disorders, increasing demand for precision medicines, and a significant rise in the R&D expenditure on the healthcare industry. In addition, an increase in private and public sector funding, growth of biotechnology and pharmaceutical industries, and rapid advancements in sequencing and Genome Editing technologies drive the growth of the market.



Moreover, the growth of biotechnology and pharmaceutical industries, and applications of gene editing in several drug discovery processes are also driving the growth of the global gene editing market.Genome editing holds potential for the treatment of genetic disorders, cancer, and infectious diseases. Besides these factors, there are increasing concerns regarding the risks and ethical issues related to gene editing, which may negatively affect the growth of the market. In addition, the high cost of genomic equipment also serves as a limiting factor for the growth of the global gene editing market.



Segmental Outlook



The global gene editing market is segmented on the basis of technology, application, and end-users. Based on the technology, the market is segmented as Clustered regularly interspaced short palindromic repeats (CRISPR), Transcription Activator-Like Effectors Nuclease (TALEN), Zinc Finger Nuclease (ZFN), and others such as PiggyBac, Adenine Base Editor (ADE), and Jump-In. Further, on the basis of application, the market is segmented into cell line editing, animal genome editing, plant genome editing, and others.Cell line editing is expected to exhibit a considerable growth rate during the forecast period.



CRISPR Technology to Hold a Significant Share in the Market



Based on the technology, CRISPR holds a significant share attributing to the key advantages over its alternatives such as TALENs and ZFN. TALENs takes more time to create and can be more expensive. Moreover, as compared to ZFNs and TALENs technologies, it shows the highest efficiency. Further, CRISPR has the ability to use multiple guide RNAs in parallel to target multiple sites at the same time, in the same cell, which makes it easy to mutate multiple genes at once or engineer precise deletions in a genomic region.



Regional Outlook



Based on the geographical viewpoint, the global gene editing market is segmented into North America, Europe, Asia-Pacific and the Rest of the World. North America holds a prominent share in the market.The major factor contributing to the growth of the market in the region include a substantial amount of funding for CRISPR technology in the US and Canada. Moreover, the presence of major market players in the UScoupled with the significant investment in R&D activities is supporting the dominance of North America in the market.



Market Players Outlook



The prominent players operating in the global gene editing market include GenScript Technologies Corp., Merck KGaA,Integrated DNA Technologies Inc. (Danaher Corp.), Horizon Discovery Group PLC, Sangamo Therapeutics Inc., Thermo Fisher Scientific Inc., and CRISPR Therapeutics AG, among others. These players continuously contribute to the market by adopting several growth strategies such as mergers and acquisitions, new product launches and approvals, partnerships and collaborations, and government funding and investments among others are among the growth trends along with gradually more investing in product development and innovation to gain a competitive share in the overall gene editing market. For instance, in November 2018, GenScript Technologies Corp. developed a novel Cas9 enzyme with minimal requirements.



In October 2017, DuPont Pioneer (the agricultural division of E. I. du Pont de Nemours and Company) entered into a non-exclusive global licensing agreement with the Broad Institute of MIT and Harvard for CRISPR-Cas9 gene-editing technology in agriculture. The Broad Institute is engaged in the development of CRISPR-Cas technology and holds multiple issued US patents related to CRISPR-Cas technology. DuPont Pioneer is on track for commercialization of the next generation of waxy corn products by 2019, which is developed with the application of CRISPR-Cas enabled advanced breeding technology.