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Thursday, 18 April 2024
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Gene Editing Market is expected to reach US$ 23,902.34 million by 2030

The global gene editing market size is estimated to grow from USD 6,542.95 million in 2022 and to reach a value of USD 23,902.34 million by 2030.

By The Insight Partners

Pharmaceutical Companies and Biotechnology Companies Segment to Lead Gene Editing Market Based on End User During 2022–2030

According to our new research study on “Gene Editing Market Forecast to 2030 – Global Analysis – by Component, Technology, Application, End User, and Geography,” the gene editing market size was valued at US$ 6,542.95 million in 2022 and is projected to reach US$ 23,902.34 million by 2030; the market is expected to register a CAGR of 17.6% from 2022 to 2030. Key factors driving the growth of the gene editing market are the increase in cancer and other genetic disorders and growing investment in genetic research. However, the high cost of genomic equipment hinders the growth of the gene editing market.

Based on end user, the gene editing market is segmented into pharmaceutical companies and biotechnology companies, academics and government research institutes, and clinical research organizations. The pharmaceutical companies and biotechnology companies segment held the largest share of the market in 2022 and is expected to register the highest CAGR during 2022–2030. The growing demand for biotechnological and pharmaceutical products has resulted in huge market consolidations between pharmaceutical and biotechnology companies for improved and better treatment options. The growing investments made by companies have fueled the market for the pharmaceutical and biotechnology companies segment. In addition, global pharmaceutical companies are partnering with emerging companies to create new technologies, which is anticipated to fuel market expansion. For example, in January 2022, CRISPR Therapeutics AG and Capsida Biotherapeutics Inc. entered into a strategic agreement to create innovative gene treatments employing the CRISPR/Cas9 technology for treating various diseases. Under the agreement, Capsida will provide its adeno-associated virus delivery technology, while CRISPR Therapeutics will contribute its expertise in genome editing.

Gene Editing Market, by Region, 2022(%)

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00032626

Source: The Insight Partners Analysis

In April 2021, CANbridge Pharmaceuticals Inc. entered into a strategic collaboration and licensing agreement with LogicBio Therapeutics, Inc. to focus on rare and severe diseases. As a result of this, CANbridge acquired rights to the latter company’s gene-editing platform.

In October 2020, Scribe Therapeutics Inc. and Biogen entered into a strategic collaboration to develop CRISPR-based genetics medicinal products for neurological diseases such as amyotrophic lateral sclerosis. In October 2020, Merck signed agreements licensing its clustered regularly interspaced short palindromic repeats (CRISPR) technology to two companies, namely PanCELLa, a cell therapy company based in Toronto, Canada, and Takara Bio USA, Inc. Technological developments in molecular biology have increased sequencing procedures.

Among the market leaders, the companies have manufactured and designed technologically advanced next-generation sequencing technology and made numerous collaborations, technological advancements, and investments to support the pharmaceutical companies and biotechnology companies segment in the gene editing market.

Based on region, the gene editing market is segmented into North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. Asia Pacific is anticipated to register the highest CAGR in the market during 2022–2030, attributed to the growing need for superior treatment solutions and increasing focus on research and development activities. In addition, developing healthcare infrastructure, rising genetic diseases as well as cancer cases, and increasing investments to boost the research activities in genomics are projected to support the Asia Pacific gene editing market growth during the forecast period. China, India, and Japan are three major contributors to the growth of the gene editing market in the region. According to the study titled "Spotlight on Gene Therapy in China," published in July 2020, over 57 million people suffer from genetic diseases in the country, and ~4 million new cancer cases are recorded per year. According to the Global Cancer Observatory data, a total of 4,568,754 cancer cases were reported in 2020 in the country. According to the World Cancer Research Fund International Data, ~1,017,282 cases of cancer were diagnosed in 2020 in Japan. The age-standardized rate for all cancers was 282.9 per 100,000 in 2020. Cutting-edge gene editing techniques hold immense promise for tackling these diseases. Many cancer biology investigations are now using CRISPR as a standard approach. Thus, with the growing prevalence of these diseases, the demand for better treatment arises, which in turn fuels the growth of the market.

The government focuses on developing laws and policies to bolster the innovations and discoveries in novel diagnostics and therapeutics such as CRISPR/Cas system. In Japan, the Council for Science, Technology, and Innovation's Expert Panel on Bioethics issued a tentative statement on the use of genome editing in human embryos, raising similar concerns about the difficulty of predicting possible harmful effects of genetic changes under various circumstances experienced by the human population, as well as the possibility that permanent enhancements in genetic subsets of the population could exacerbate social inequities.

Indian scientists developed a new variant of the currently popular gene editing tool, CRISPR-Cas9, in 2019 and have shown that this variant can increase precision in editing the genome while avoiding unintended changes in DNA. This form of gene editing can also be used to treat sickle cell anemia, a genetic blood condition, according to the researchers. Similarly, China has spearheaded the first-in-human clinical trials using CRISPR/Cas9 as a cancer treatment. The technology has also been applied to enhance the efficacy and safety profiles of cancer immunotherapy, such as CAR-T cell therapy.

Thermo Fisher Scientific; GenScript; Lonza; Merck KGaA; CRISPR Therapeutics; PerkinElmer Inc.; Agilent Technologies, Inc.; Precision Biosciences; Sangamo Therapeutics, Inc.; New England Biolabs; and Novartis are among the leading companies operating in the gene editing market.  

Based on component, the gene editing market is categorized into reagents and consumables, software and systems, and services. Based on technology, the gene editing market is classified into clustered regularly interspaced short palindromic repeats, transcription activator-like effector nucleases, zinc finger nucleases, and other technologies. The gene editing market, by application, is bifurcated into genetic engineering and clinical applications. Based on end users, the gene editing market is segmented into pharmaceutical companies and biotechnology companies, academics and government research institutes, and clinical research organizations. The gene editing market, by geography, is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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