The global gene editing Market is projected to reach USD 15.79 billion by 2027, according to a recent report by Emergen Research. The increasing prevalence of genetic disorders is the major factor driving the growth of this market. In addition, the rising demand for genetically modified crops and animals is another factor that is projected to boost the growth of the gene editing market in the coming years. Furthermore, the increasing investment by government and private organizations in research and development activities related to gene editing is another factor that is anticipated to fuel the growth of this market. However, the high cost associated with gene editing procedures is the major factor restraining the growth of this market.
The use of the technology for therapeutic purposes is still in the research and development stage. However, some companies are already marketing gene-editing tools for basic scientific research. In 2015, Transposagen Biopharmaceuticals Inc. (TBI) became the first company to commercially sell a gene-editing tool called piggyBac. The U.S. Food and Drug Administration (FDA) has not yet approved any gene-editing products for therapeutic use in humans.
In order to improve over current treatment choices for patients with genetic diseases, researchers have developed a new therapeutic strategy using CRISPR-Cas9, which is a type of gene editing. This technology can be used to correct mutations in the DNA of patients with genetic diseases. The goal of this study was to assess the potential market for gene editing therapies using CRISPR-Cas9.
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The study found that there is a large potential market for gene editing therapies using CRISPR-Cas9. The technology is still in its early stages of development, but it has the potential to become a major treatment option for patients with genetic diseases. The study also found that the price of CRISPR-Cas9 therapy will likely be very expensive, and that the insurance companies will likely not cover the cost of the therapy. The study concluded that the gene editing market has a large potential, but there are still many hurdles to overcome before it can become a reality. The most important hurdle is the high cost of CRISPR-Cas9 therapy. If the cost can be reduced, then gene editing could become a major treatment option for patients with genetic diseases.
Moreover, technological advancements in gene editing tools, and the availability of support funding from public and private organizations worldwide are further expected to drive market growth over the forecast period. However, stringent government regulations regarding clinical testing and ethical concerns associated with gene editing are expected to restraint market growth over the forecast period.
Some Key Highlights from the Report
- On the basis of technology, the market has been classified into CRISPR/Cas9, zinc finger nucleases (ZFNs), transcription activator-like effector nucleases (TALENs), and others. The CRISPR/Cas9 segment is projected to hold the largest share of the market during the forecast period. This is attributed to the increasing adoption of this technology in the treatment of genetic disorders. Also, the CRISPR/Cas9 technology is widely used in research and development activities related to gene editing.
- The therapeutic applications segment is projected to grow at the highest CAGR in the gene editing market during the forecast period. The growth of this segment can be attributed to factors such as the increasing prevalence of genetic disorders and cancer, the growing demand for personalized medicines, and the increasing government support for gene therapy research.
- On the basis of application, the market has been classified into therapeutics, agriculture, and others. The therapeutics segment is projected to grow at the highest CAGR during the forecast period. This is due to the increasing use of gene editing in the treatment of genetic disorders. Also, the rising investment by government and private organizations in research and development activities related to gene editing is another factor driving the growth of this market segment.
- On the basis of end user, the market has been classified into hospitals and clinics, research laboratories and institutes, and biotechnology and pharmaceutical companies. The hospitals and clinics segment is projected to grow at the highest CAGR during the forecast period. This is attributed to the increasing number of gene editing procedures being performed in hospitals and clinics. Also, the rising awareness among people regarding gene editing is another factor that is projected to boost the growth of this market segment.
- The academic and research institutes segment is projected to grow at the highest CAGR during the forecast period. This is due to the increasing investment by academic and research institutes in research and development activities related to gene editing.
- On the basis of region, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to hold the largest share of the market during the forecast period. This is due to the presence of a large number of players in this region and the increasing investment by government and private organizations in research and development activities related to gene editing.
- Key participants embrace Cibus, Recombinetics, Inc, Merck KGaA, Sangamo, exactitude Biosciences and Editas medication among others.
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For the purpose of this report, Emergen Research has segmented into the global gene editing Market on the basis of technology, end user, applications and region:
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Other Technologies
Applications Outlook (Revenue, USD Billion; 2017-2027)
- Cell Line Engineering
- Animal Genetic Engineering
- Plant Genetic Engineering
- Diagnostic Applications
- Drug Discovery and Development
End Users Outlook (Revenue, USD Billion; 2017-2027)
- Biotechnology and Pharmaceutical Companies
- Academic and Government Research Institutes
- Contract Research Organizations (CROs)
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
- North America
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