Gene Editing Market Report- Global Demand and Forecast
The global gene editing market is expected to undergo solid growth over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global gene editing market is mainly driven by the growing demand for gene editing tools from the biotechnology sector, where gene editing is becoming an increasingly important tool for research of various kinds. The growing gene editing market is profiled in detail in the report with the help of detailed information about the market’s historical growth trajectory. This information provides solid backing for the projections presented in the report for the market’s likely growth trajectory from 2017 to 2023.
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Gene editing has become a vital tool in the biotechnology sector due to the ability it provides to enhance the natural capabilities of an organism and make it more powerful and more resistant to certain factors. The growing demand for genetically modified wheat and other plants is likely to be a major driver for the gene editing market over the forecast period. Food security in several leading economies, such as India and China, is dependent on genetically modified crops, which ensure a larger yield and better resistance to pests. The larger yield provided by these strains has become vital for these countries, despite concerns about raising a monoculture and the adverse effects of the same on the biodiversity of crops in these regions. This is likely to result in steady growth of the gene editing market, as genetically modified crops are an important commodity for a number of countries around the world.
Increasing research into the potential of gene editing in preventing certain genetically caused diseases has also been vital for the global gene editing market. Experiments on human fetuses to eliminate the possibility of certain diseases such as HIV are still controversial, with few institutions housing researchers who dare to venture into the field, but increasing demand for gene editing in healthcare applications, including cancer treatment, is likely to remain a major driver for the global gene editing market over the forecast period. The growing demand for effective cancer treatments is likely to drive the gene editing market at a high growth rate over the forecast period, as genetic treatments offer 100% elimination of the disease with little or no damage to healthy tissues.
Leading players in the global gene editing market include Transposagen Biopharmaceuticals Inc., Thermo Fisher Scientific Inc., Sigma-Aldrich Corporation, Sangamo Biosciences Inc., OriGene Technologies Inc., New England Biolabs Inc., Lonza Group Ltd., Integrated DNA Technologies Inc., Horizon Discovery Group plc, and GenScript USA Inc.
In October 2019, an Indian team of researchers developed a new, more precise variant of the popular CRISPR gene editing tool.
The same month, Denis Rebrikov, a Russian biologist who gained notoriety after announcing his intention to create genetically edited human babies more resistant to HIV, announced that he has begun work on eliminating deafness in babies by altering the deafness gene through gene editing.
The global gene editing market is segmented on the basis of method, application, end use, and region.
By method, the global gene editing market is segmented into CRISPR, TALEN, ZFN, antisense technology, and others. CRISPR holds by far the largest share in the global gene editing market, followed by TALEN. Further enhancements in CRISPR technology to make it even more precise and useful are likely to further increase the share of the segment in the coming years.
By application, the global gene editing market is segmented into plant genetic engineering, animal genetic engineering, microorganism genetic engineering, and gene therapy.
By end use, the global gene editing market is segmented into the biotech industry, the pharmaceutical industry, and contract research organizations.
The Americas market is the dominant revenue generator in the global gene editing market, followed by Europe. This duopoly is likely to remain strong in the coming years, despite strong growth of the market in Asia Pacific.
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