The gene editing market refers to the commercial industry that provides products and services related to the manipulation of an organism’s genetic material. This can include the development of new gene editing tools and technologies, such as CRISPR-Cas9, as well as the sale of reagents, equipment, and services for conducting gene editing experiments. The gene editing market is expected to grow rapidly in the coming years due to the increasing demand for genetic modifications in research, agriculture, and medicine. Key players in the gene editing market include companies such as Editas Medicine, CRISPR Therapeutics, and Intellia Therapeutics.
Increased R&D expenditure in gene editing in BRICS countries, growth of the biotechnology and pharmaceutical industries, increase in private and public sector funding for gene editing, rapid advancements in sequencing and genome editing technologies, non-labelling of gene-edited products such as Genetically Modified Organisms (GMOs) and applications of gene editing in various drug discovery processes drive the growth of the global gene editing market. However, the high cost of genomic equipment is a factor that act as a restraint for the market growth. Moreover, the growing demand for synthetic genes for medicine development to cure cancer is expected to provide opportunities for the growth of the gene editing market in future.
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COVID-19 Impact Analysis on Gene Editing Market-
The Covid-19 outbreak had a positive impact on the gene editing market as it has driven biotechnology firms to invest in the gene editing space to develop rapid molecular diagnostic tests.
In search for new ways to combat SARS-CoV-2, the novel coronavirus that causes Covid-19, researchers are studying the potential of gene-modification tools such as CRISPR as a potential rapid screening solution for the COVID-19 genome.
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The global gene editing market is analyzed across the segments such as technology, application, end user and region.
Based on technology, the CRISPR-Cas9 gene editing segment accounted for nearly two-fifths of the global market share in 2021 and is anticipated to rule the roost by 2031. The same segment would cite the fastest CAGR of 7.9% in 2031.
Based on application, the gene editing segment captured more than one-fourth of the overall market share in 2021 and is likely to maintain its lead status through 2031. The same segment would grow at the highest CAGR of 8.2% during the forecast period.
By region, North America held the major share in 2021, generating over two-fifths of the global market. The Asia-Pacific region, however, would grow at the fastest CAGR of 7.7% by 2031.
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The key players analyzed in the global gene editing market include Addgene, Allele Biotech, Bio-Rad Laboratories, CRISPR Therapeutics, General Electric, OriGene Technologies, Precision Biosciences, Takara Biotech, Thermofischer Scientific Inc., and Transposagen Biopharma Inc.
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