Genome Editing & Genome Engineering Market Size, Share, Growth, and Industry Analysis, By Type (CRISPR, TALEN and ZFN), By Application (Cell Line Engineering, Animal Genetic Engineering and Plant Genetic Engineering), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

REPORT OVERVIEW

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The global genome editing & genome engineering market size was USD 3513 million in 2021. As per our research, the market is projected to touch USD 6739.8 million by 2028, exhibiting a CAGR of 9.3% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.

The genome editing & genome engineering market has many advantages, including the potential to cure diseases, improve crop yields, clean up pollution, develop personalized medicine, and reduce healthcare costs. These technologies can be used to make specific changes to the DNA of organisms, which can have a wide range of applications. For example, genome editing can be used to treat diseases by targeting the genes that are responsible for the disease. It can also be used to improve crop yields by making crops more resistant to pests and diseases. Additionally, genome editing can be used to clean up pollution by developing bacteria that can break down pollutants.

COVID-19 Impact: Imposed Restrictions in the Economy which led to a decline in demand for the Market

The COVID-19 pandemic has had a significant impact on the genome editing & genome engineering market growth. The pandemic has led to a decrease in research and development activities, as well as a decrease in funding for these activities. This is due to the fact that many research institutions and funding agencies have had to divert their resources to COVID-19 research and response efforts. In addition, the pandemic has also disrupted supply chains, making it more difficult to obtain the necessary materials and equipment for genome editing & genome engineering research. This has also slowed down the pace of research in this area.

However, the pandemic has also created new opportunities for genome editing & genome engineering. For example, the pandemic has highlighted the need for new ways to develop vaccines and treatments for infectious diseases. Genome editing & genome engineering can be used to develop new vaccines and treatments that are more effective and efficient than traditional methods. The pandemic has also increased the demand for genome editing & genome engineering technologies in other areas, such as agriculture and environmental protection. For example, genome editing can be used to develop crops that are resistant to pests and diseases, or to develop new methods for cleaning up pollution.

LATEST TRENDS

"Higher Standards of Performance by Increase in Infrastructure Spending to Grow Market Potentially"

The genome editing & genome engineering market is rapidly developing, with new trends emerging all the time. Some of the latest trends include the development of new genome editing tools, the application of genome editing to treat diseases, the application of genome editing to improve crops, the application of genome editing to clean up pollution, the development of personalized medicine, and the regulation of genome editing.

The development of new genome editing tools is one of the most important trends in this market. New tools are being developed that are more precise and efficient than existing tools. This is making it possible to make smaller and more targeted changes to the DNA, which is important for developing new treatments for diseases and improving crops.

SEGMENTATION

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• By Type

Based on type the market is classified as CRISPR, TALEN and ZFN.

• By Application

Based on application the market is classified as Cell Line Engineering, Animal Genetic Engineering and Plant Genetic Engineering.

DRIVING FACTORS

"Advances in genome editing tools which leads to the market growth"

The development of new and more efficient genome editing tools is also driving the growth of this market. These tools make it possible to make more precise and targeted changes to the DNA, which is essential for developing new treatments for diseases.

"Growing demand for personalized medicine for market growth"

The growing demand for personalized medicine is also driving the growth of this market. Personalized medicine is tailored to the individual patient's genetic makeup, and genome editing technologies can be used to develop personalized treatments for diseases.

RESTRAINING FACTORS

"Regulatory Hurdles to Restrain the Market Growth"

The genome editing & genome engineering market is a promising market with a wide range of potential applications. However, there are also some restraining factors that could slow down the growth of this market. These restraining factors include off-target effects, gene escape, ethical concerns, regulatory hurdles, and high cost. Off-target effects are unintended changes that can be made to the genome by genome editing tools. These changes could lead to harmful side effects. Gene escape is the risk that edited genes could escape from the target organism and spread to other organisms. This could have unintended consequences, such as the development of new pests or diseases.

REGIONAL INSIGHTS

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"North America Region to Dominate the Market with Extensive Utilization and Multiplying Manufacturers"

North America is the largest market for genome editing & genome engineering. This is due to the early adoption of new technologies in the region, as well as the presence of a large number of research institutions and companies that are developing these technologies. The North American market for genome editing & genome engineering is led by the United States. The US government has invested billions of dollars in genome editing research, and there are a number of large pharmaceutical companies that are developing genome editing-based treatments for diseases.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

The genome editing & genome engineering market share is a rapidly evolving with a wide range of potential applications. The market is expected to grow significantly in the coming years, driven by the increasing demand for these technologies. Some of the key industry players in this market include Thermo Fisher Scientific, Merck KGaA, GenScript Biotech Corporation, Sangamo Therapeutics, Editas Medicine, Intellia Therapeutics, CRISPR Therapeutics, Verily, Pairwise Plants, and Inari Agriculture. These companies are developing genome editing tools and services for a variety of applications, including gene therapy, precision medicine, agriculture, and environmental remediation.

List of Market Players Profiled

• Thermo Fisher Scientific (U.S)
• Merck (U.S)
• Horizon Discovery (U.K)
• Genscript (China)
• Sangamo Biosciences (U.S)
• Integrated Dna Technologies (U.S)
• Lonza (Switzerland)
• New England Biolabs (U.S)
• Transposagen Biopharmaceuticals (U.S)
• Editas Medicine (U.S)
• Crispr Therapeutics (Switzerland)

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study. The research report includes a study of a number of factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.