Gene Editing Market Size By Technology (CRISPR/Cas9, Zinc Finger Nucleases (ZFNs), Meganucleases, TALENS), By Application (Hematology, Infectious Disease, Oncology, Muscular Disorders), By End User (Biotech and Pharma, CRO, Research Institutes), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Spain, Russia, Poland, China, Japan, India, Australia, Malaysia, Mexico, Brazil, Argentina, South Africa, Saudi Arabia, Israel), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024
Published Date: October 2016 | 150 Pages | Report ID: GMI810 Report Format: PDF
Gene Editing Market size was valued at over USD 2.17 billion in 2015 and will grow at over 14% CAGR from 2016 to 2024.
U.S. Gene Editing Market Size, by Application, 2013- 2024 (USD Million)
Rising R&D expenditure, growing demand for synthetic genes and growth of biotechnology and pharmaceutical companies will drive the global gene editing market growth.
Rising prevalence of cancer, infectious diseases, and other genetic disorders, and growing demand for personalized medicine should stimulate industry expansion. Furthermore, expansion and development in healthcare infrastructure should propel industry demand.
Regulations for safety and security of life, human health, wellbeing of animals and plants, and the environmental compliance will encourage industry players to increase their focus on commercialization, export, and import of GMOs.
Significant advancements in research and increased government funding programs will significantly expand gene editing market size during the forecast timeframe. However, strict government regulations for approval to mutation projects and lack of public awareness will hamper adoption of editing applications. Government regulations will focus on assessing the potential medical benefits coupled with the potential hazards of gene editing procedure.
Genome editing market size is segmented into CRISPR/Cas9, Zinc Finger Nucleases (ZFNs), Meganucleases and TALENS. CRISPR market was the leading segment in 2015 and will continue to dominate over forecast years due to increasing use in agriculture sector. For instance, introduction of mutations into plants can improve breeding of certain crops such as wheat and rice. CRISPR can also be used to manipulate mammalian genomes for therapeutic treatments. TALENS would grow at 15.2 % during the forecast timeframe.
Gene editing market has its extensive application in therapeutic areas of hematology, infectious disease, oncology and muscular diseases. Hematology was recognized as the highest revenue generating segment in 2015, due to extensive use in investigating genetic function in experimental hematology. Infectious disease segment will also follow the robust growth trend with 15.2% CAGR during the forecast timeframe contributing to the overall revenue of over USD 2.5 billion by 2024.
End User Trends
Industry is segmented into Biotech and Pharma, Research Institutes and CRO (Contract Research Organizations). Biotech and pharma together held over 58% of the overall genome editing market size in 2015, due to applications in therapeutics and drug discovery. Development of therapeutics models in CRISPR and ZFN has driven industry participants to invest in innovative research leading towards use of new genetic engineering techniques. CROs will gain popularity due to increasing trend of pharmaceutical companies to outsource complex drug discovery processes to CROs.
U.S. gene editing market size was USD 518.5 million in 2015 due to robust growth trend manifested by pharmaceutical and biotechnology industries and adoption of advanced technologies like CRISPR to treat chronic hereditary disorders.
UK gene editing market share contributed to over 41% of regional revenue share in 2015 with market size of USD 214.7 million in 2015 and anticipated to reach over USD 744.5 million by 2024, owing to rising geriatric population base and increasing prevalence of chronic diseases.
Japan gene editing market size was over USD 160 million in 2015 growing at 15% over forecast period. The growing aging population, improving healthcare system, government initiatives in controlling diseases and technological advancements should drive the country market size. South Africa contributed to over 15% of regional revenue share in 2015. The growing prevalence of HIV, sickle cell anemia, hemophilia and several forms of cancer will drive the industry growth.
Competitive Market Share
Major industry participants for the global gene editing market share include Agilent Technologies, Allele Biotech, AstraZeneca, Bio Rad, Cellectis, CRISPR Therapeutics, Editas Medicine, GE Healthcare Dharmacon, Lonza, Qiagen, Recombinetics, Sigma-Aldrich and Thermo Fisher Scientific.
Key strategies implemented by industry players include mergers and acquisitions, strategic collaborations for R&D outsourcing or manufacturing activities. For instance, Thermo Fisher acquired Life technologies in 2014, to create unbeatable leadership in life sciences, research, specialty diagnostics and applied markets. Sigma-Aldrich Corporation (U.S.) entered into an agreement with Broad Institute of MIT and Harvard (U.S.) for the use of CRISPR/Cas technology. High growth potential in emerging regions provides new opportunities to industry players.
Various initiatives are taken up by Chinese government to promote life sciences research in biotechnology sector. However, factors like ethical issues regarding editing human embryo, lack of public awareness, stringent regulatory agenda, off-target effects of CRISPR, inaccessibility of gene-editing based therapeutics and patent disputes related with technologies should hindering industry growth.
CRISPR/Cas9 has been widely recognized as a break-through gene editing technology because of its simplicity, speed and specificity with which the edits are carried out. It has enabled researchers to make multiple edits at one time. CRISPR/Cas9 has become a significant area for research due to its wide range of potential applications in the field of genetic engineering. It has recently become a prime topic of public discussion and debate among the medical fraternity. In the pharmaceutical industry, drug makers are collaborating with gene editing companies to speed up the clinical use of this technology.
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