According to our new research study on "Genome Editing Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Technology, Application, and End User" the market was valued at US$ 5,199.40 million in 2021 to US$ 16,986.69 million by 2028. It is estimated to register a CAGR of 18.4% from 2021 to 2028.
Genome editing technique is utilized for the changes that are to be done in the DNA of a cell or an organism. The technique involves cutting DNA sequences for the addition or removing the DNA in the genome. The changes in the genome are done for the required characteristics of the cell. Genome editing is done for the research purpose, the treatment of the diseases, and the biotechnological purpose.
Based on technology, the genome editing market is segmented into CRISPR, TALEN, antisense, and other. The CRISPR segment is likely to hold the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market during the forecast period, due to their incumbent usage, high volume consumption, and product innovation. The clustered regularly interspaced short palindromic repeats (CRISPR) are associated with the Cas genes that essential for adaptive immunity in selected bacteria and archaea. The CRISPR enables the organisms to respond the changes and elimination of invading genetic material. There are types of the CRISPR mechanisms have been adopted for genome-editing protocols. The first one is wild-type Cas9, second is mutated Cas9 and the third is nuclease-deficient Cas9.
Genome Editing Market Size and Forecast to 2028 - COVID-19 Impact and Global Analysis by Technology (CRISPR, TALEN, Antisense, and Other); Application (Cell Line Engineering, Genetic Engineering, Diagnostic Applications, Drug Discovery, And Others), End User (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, and Clinical Research Organizations)
Genome Editing Market Analysis Report & Size 2028
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Impact of COVID-19 Pandemic on the Genome Editing Market
In the North America region, the US was profoundly affected by the outbreak of the COVID-19 pandemic. The country has marked the highest number of positive patients. Across the nation, various healthcare research centers were working only for research on COVID 19 therapeutics. As the crisis moved forward, healthcare professionals realized that developing novel therapies using innovative technologies is essential to mitigate this unprecedented crisis. In the middle of this situation, governments around the world were not prepared for such a pandemic.
The treatment against COVID 19 has been established. Hence, the lack of definitive therapy offers significant opportunities for the genome editing-related market as US FDA has recently approved the use of plasma therapy for critically ill COVID 19 patients. upcoming stem cell therapies to boost patients' immune systems and eliminate the virus will offer significant growth prospects for the market. For instance, Lattice Biologics, in collaboration with Alumina Partners, has been accelerating phase 1 clinical trials for its stem cell-based AminioBoost therapies of COVID-19. Moreover, the mRNA-based vaccines against the COVID19 have been given emergency use authorization by the regulatory agencies in the region. The active involvement of the government and the associated market players in exploring opportunities for genome editing-related products and services is expected to drive such developments which will add to the future demand for the genome editing market in the North American region.
Thermo Fisher Scientific Inc.; Merck KGaA; Lonza; Horizon Discovery Group plc.; Integrated DNA Technologies; GenScript; New England Biolabs; Eurofins Scientific; CRISPR Therapeutics; and Editas Medicine are among the leading companies operating in the genome editing market.
The report segments the genome editing market as follows:
The genome editing market is segmented based on technology, application, and end user. Based on technology, the genome editing market is segmented into CRISPR, TALEN, antisense, and other. Based on application, the genome editing market is segmented into cell line engineering, genetic engineering, diagnostic applications, drug discovery, and others. Based on end user, the genome editing market is segmented into pharmaceutical and biotechnology companies, academic and research institutes, and clinical research organizations (CRO's). Based on geography, the genome editing market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, 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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