Newark, Nov. 01, 2022 (GLOBE NEWSWIRE) — According to report by The Brainy Insights, the global gene editing market is expected to grow from $5.89 billion in 2022 to $20.47 billion by 2030. , growing at a CAGR of 16.85% over the forecast period 2022-2030.
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Rising demand for synthetic biology in developing and developed countries is expected to increase demand from the gene editing industry over the projection period. Additionally, high prevalence of infectious diseases and cancer, rapid advancements in genome sequencing and editing technologies, and applications of gene editing in multiple drug discovery processes are also helping propel the growth of the market. However, stringent regulatory laws, high equipment costs, and negative public perceptions towards genetic studies are restraining the market growth. In addition, the increasing demand for synthetic genes in different areas of biotechnology and the ever-increasing use of CRISPR genome editing technology are opportunities for market growth.
Competitive strategy
To strengthen their position in the global gene editing market, the major players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations and partnerships.
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Market growth and trends
The growth of the genome editing market is driven by the growing preference for personalized medicine and the rising prevalence of cancer and other genetic disorders. Additionally, technological advancements in biotechnology are the growth trend of the market. Additionally, genome editing technologies can alter biological research and significantly affect human health, food security, and environmental sustainability because they are easy to use, accurate, relatively inexpensive, and remarkably powerful. Additionally, advances in gene editing technology are helping to develop effective techniques to treat genetic diseases compared to conventional therapies. In addition, significant increase in R&D expenditure in the healthcare sector and growth in pharmaceutical and biotechnology industries are also driving the growth of the market. Additionally, increasing prevalence of cancer, growing rate of genetic diseases, ample funding from private and public bodies, and superior infrastructure are also helping to drive the growth of the market.
• In 2022, the animal genetic engineering segment dominated the market with the largest market share of 41.21% and revenue of 2.42 billion.
The applications segment is divided into animal genetic engineering, cell line engineering and plant genetic engineering. In 2022, the animal genetic engineering segment dominated the market with the largest market share of 41.21% and revenue of 2.42 billion. This growth is attributed to the rapidly growing field of gene and stem cell therapy.
• In 2022, the CRISPR/Cas9 segment led the market with the largest market share of 43.09% and revenue of 2.53 billion.
Technology segment is divided into TALEN, Zinc Finger Nucleases (ZFNs), and CRISPR/Cas9. In 2022, the CRISPR/Cas9 segment dominated the market with the largest market share of 43.09% and revenue of 2.53 billion. This growth is attributed to increased government initiatives and funding to develop vaccines, medical technologies, drugs and devices.
• In 2022, the biotech and pharmaceutical companies segment dominated the market with the largest market share of 42.16% and revenue of 2.48 billion.
The end-user segment is divided into contract research organizations (CROs), biotechnology and pharmaceutical companies, and research institutes. In 2022, the biotech and pharmaceutical companies segment dominated the market with the largest market share of 42.16% and revenue of 2.48 billion. This growth is attributed to investments by pharmaceutical companies in new treatments.
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Regional Segment Analysis of Genome Editing Market:
• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, rest of APAC)
• South America (Brazil and rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The North American region has emerged as the largest market in the global gene editing industry, with a market share of 46.34% and a market value of approximately $2.72 billion in 2022. du Nord dominates the genome editing market due to pharmaceutical and biotechnology investments. Additionally, rising per capita income, strong research and commercial base for different genetic modification tools, and better knowledge about the benefits of handwriting sequences are also helping to drive the growth of the market in the region. Additionally, high adoption of molecular scissors tools in research and growing investment in genome editing technologies are expected to propel the market growth in this region. In addition, the Asia-Pacific region is expected to post the fastest CAGR of 18.03% over the projection period. This growth is attributed to increasing public funding of the biotechnology industry to improve disease treatment. In addition, rising prevalence of various infectious diseases, growing attention on R&D activities associated with gene therapy, and high demand for genetically modified crops are also helping to drive the market growth in this region.
Leading players operating in the global gene editing market are:
• Merck KGaA
• Thermo Fischer Scientific
• Lonca
• Therapeutic Sangamo
• GenScript
• Editas Medicine
• Tecan Life Sciences
• CRISPR Therapeutics AG
• Cellectis SA
• Agilent Technologies
• Precision biosciences
• Creative biogenic
• Bluebird Organic
• Perkin Elmer
• Regeneron Pharmaceuticals
• Intellia Therapeutics
• Vigene Biosciences
• Transposagen Biopharmaceuticals
• Synthego
• Beam therapy
• Caribou Biosciences
• Integrated DNA technologies
• Recombinant
• OriGene Technologies
• New England Biological Laboratories
This study forecasts revenue at global, regional and country levels from 2019 to 2030. The Brainy Insights has segmented the global gene editing market based on the segments mentioned below:
Global Genome Editing Market by Application:
• Animal genetic engineering
• Cell line engineering
• Plant genetic engineering
Global Genome Editing Market by Technology:
• TALEN
• Zinc finger nucleases (ZFN)
• CRISPR/Cas9
Global Genome Editing Market by End User:
• Contract Research Organizations (CROs)
• Biotechnology and pharmaceutical companies
• Research institutes
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About the report:
The global gene editing market is analyzed based on value (USD billion). All segments have been analyzed on a global, regional and country basis. The study includes analysis of more than 30 countries for each segment. The report offers an in-depth analysis of the drivers, opportunities, restraints and challenges to obtain key market insights. The study includes Porter’s Five Forces Model, Attractiveness Analysis, Commodity Analysis, Supply, Demand Analysis, Competitor Position Grid Analysis, analysis of distribution and marketing channels.
About The Brainy Insights:
The Brainy Insights is a market research company, aiming to provide businesses with actionable insights through data analytics to improve their business acumen. We have a robust forecasting and estimating model to meet customers’ high-quality production goals in a short period of time. We provide custom (customer specific) and syndicated reports. Our union reporting repository is diverse across all domain categories and subcategories. Our customized solutions are designed to meet customer needs, whether they are looking to expand or planning to launch a new product in the global market.
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