Gene Editing Market Overview:
The global gene editing market is growing continually. The market growth attributes to the significance of gene editing processes in drug discovery diagnostics and precision medicine development. Besides, the rising prevalence of genetic diseases and cancer drives the gene editing market size. Moreover, increased RD activities, investments, numbers of biotechnology life science companies worldwide escalate the market growth to furthered height.
Market Research Future (MRFR), in its gene editing market report, asserts that the market is expected to expand at 18.30% throughout the assessment period (2017–2023). Increasing cancer diagnosed cases and the proliferating biotechnology industry, alongside the advances in medical technology, act as significant driving forces. Besides, advances in genetic testing such as Next Generation Sequencing (NGS) system and its growing adoption in agriculture and animal culture boost the market growth.
Gene editing has created a lot of excitement in academia and drug development, promising multi-facet benefits. Additionally, increased RD expenditures in plant animal genetic engineering, gene therapy, and microorganism genetic engineering push the growth of the market.
Market Drivers and Restraints:
Market Drivers:
- Rising investments in the biotechnology sector.
- Benefits of gene editing in fixing mutated cells, and creating safer more potent cell-based products
Market Restraints:
- Strict regulatory policies and adverse public perception.
- High costs associated with the testing and security concerns
Global Gene Editing Market – Segments
The report is segmented into four dynamics;
By Methods : CRISPR, TALEN, ZFN, Antisense technology, and others.
By Applications : Plant Genetic Engineering, Animal Genetic Engineering, Gene Therapy, Microorganisms Genetic Engineering, and others.
By End User : Biotechnology, Pharmaceutical, Contract Research Organization, and others.
By Region : Americas, Europe, Asia Pacific, and the Rest-of-the-World.
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Gene Editing Market – Geographical Analysis
North America dominates the global gene editing market. The largest market share attributes to massive development in drug discovery research, an increase in the number of research studies, development of the biotechnology sector. Besides, the rising prevalence of chronic diseases such as cancer and increasing expenditures for cancer care impact the regional market growth, positively.
The US gene editing market, backed by the presence of many biotech companies, dominates the regional market. Moreover, enormous RD funding from public and private sectors foster the growth of the regional market. The North American gene editing market is projected to retain its dominance throughout the estimated period.
Europe stands second in the global gene editing market. Increasing research development activities for cancer congenital diseases are the key driving force behind the market growth. The market is driven by substantial investments in the advancement of technology for better treatment solutions. Besides, the rising prevalence of cancer supports market growth. The European gene editing market is estimated to create a substantial reverence pocket during the projected period.
The Asia Pacific gene editing market is growing briskly. Factors such as the spurting growth in the life science industry and increasing government support to boost the biotechnology sector foster the regional market growth. Moreover, the rising demand for better healthcare and the expansion of leading global genome-editing companies in the region substantiate the growth of the market.
The increase in the number of laboratories and increased RD spending, act as a key tailwind for the market growth. APAC countries – India and China are showing significant progress in the gene-editing market. Besides, the development and automation of existing instrumentation systems and the rapid growth in the pharmaceutical industries foster the APAC gene editing market.
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Global Gene Editing Market – Competitive Landscape
The gene editing market appears to be competitive and fragmented with the presence of many players. Many well-established players alongside the new entrants form a competitive landscape. They try to gain a substantially larger competitive advantage initiating strategic initiatives such as mergers acquisitions, expansion, collaboration, and product/technology launch. Substantial investments are transpired in RD to develop new technologies that are entirely different compared to their competition.
Major Players:
Players leading the gene editing market include Horizon Discovery Group plc (UK), GenScript USA Inc. (US), Integrated DNA Technologies, Inc. (US), New England Biolabs, Inc. (US), Lonza Group Ltd. (Switzerland), OriGene Technologies, Inc. (US), Sigma-Aldrich Corporation (US), Sangamo Biosciences, Inc. (US), Transposagen Biopharmaceuticals, Inc. (US), and Thermo Fisher Scientific, Inc. (US), among others.
Industry/ Innovation/ Related News
July 23, 2020– Tropic Biosciences (the UK), a biotechnology company, and BASF (Germany, a chemical company) announced their partnership to upgrade gene editing tech for crop development further. Under the terms of the agreement, Tropic Bio’s GEiGS (Gene Editing induced Gene Silencing) technology would be studied to develop agricultural traits in BASF’s strategic crop varieties that could address growers’ challenges for sustainability.
GEiGS utilizes established genome editing tools to make precise changes to a few nucleotides within a host organism’s noncoding genome. These changes redirect RNA interference activity of noncoding genes towards target genes, including those belonging to pathogens and pests. Tropic Bio will generate crop candidates using the GEiGS platform to enter the BASF discovery pipeline to develop disease and pest control traits.