Report Summary:
The market for genome editing and engineering is expected to grow from USD 1.08 billion in 2021 to USD 11.7 billion in 2026, at a CAGR of 29.50%. is expected to attain a value of USD 15.84 billion by 2028
The genome editing capabilities have significantly improved as a result of recent advancements in this field, allowing the modification of interesting gene sequences in a number of cell types and model species. Genome engineering is currently a potentially game-changing diagnostic tool, especially for oncology studies. Genome engineering was previously employed by large research organisations, such as government and academic research facilities. The constant advancements in gene editing technology are the primary force behind this radical shift from academics to clinical and diagnostic laboratories.
Effect of COVID-19 on the market for genome engineering and editing
The newest novel coronavirus, COVID-19, is the infectious disease that it causes. Before the outbreak started in Wuhan (China) in December 2019, COVID-19 was largely unknown. Now, it is a global pandemic. The COVID-19 epidemic has put more strain on the world’s healthcare systems. 4 927 723 deaths and 242,348,657 confirmed cases of COVID-19 have been reported by the WHO (as of October 22, 2021). The Americas had the most fatalities, followed by Southeast Asia and Europe.
The COVID-19 pandemic has encouraged major pharmaceutical and biotechnology businesses to invest in vaccine R&D, as well as players in the genome market. Genome editing and engineering technologies are now at the forefront due to the increase in demand for vaccines and possible antiviral medicines.
Molecular biology tools that include gene editing approaches, such as CRISPR-Cas12/13-based SHERLOCK, DETECTR, CARVER and PAC-MAN, ASO, antisense peptide nucleic acids, ribozymes, aptamers, and RNAi silencing therapies, proved to be crucial in COVID-19 outbreaks as opposed to conventional diagnostic or treatment methods. These tools provided new generation diagnosis and treatment options, from a quicker and simpler diagnosis to more precise virus detection and elimination.
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Market dynamics for the usage of genome engineering and editing globally
Increased applications of genomics are the driver.
Application areas for genomics include drug research, agribusiness, veterinary sciences, forensics, and the identification of human genetic abnormalities. With the introduction of Next Generation Sequencing, the use of genomics in forensic studies has dramatically risen, thanks in large part to products provided by Illumina (US), which were created especially for the field. Earlier, DNA analysis was utilised for fingerprint profiling, but today, NGS aids in crime scene analysis and makes it possible to recover more information from a trace or damaged DNA sample.
Future developments in genomic engineering will likely involve its application in marine engineering for projects like the creation of nutraceuticals from algae. Other potential application areas include personalised medicine and forensic sciences. When assessing fish populations, NGS can be used for DNA barcoding to identify fish larvae and eggs as well as provide a detailed description of fish communities. Testing for food safety and quality increasingly uses genomics. The development of new drugs as well as the identification and management of human genetic illnesses are greatly aided by genome editing technology. NGS, DNA analysis, DNA profiling, and genetic engineering of plants and animals all require genome editing. Thus, it is anticipated that over the projection period, demand for genome editing technologies will rise globally due to the expanding application areas of genomics.
RESTRAINT: CRISPR technology’s off-target consequences
CRISPR-Cas9 off-target consequences are a significant worry. Any off-target nuclease activity can alter these genes and result in oncogenesis because Cas9 induces double-stranded breaks. One to three mismatches in the target can be tolerated by CRISPR-Cas9, which can result in off-target nuclease activity. A major worry is the high frequency of off-target activity (50%), which refers to alterations at locations other than the planned on-target site. For instance, CRISPR can activate the cancer-causing gene or target the tumour suppressor gene. Due to this undesirable effect, numerous companies that are organising clinical studies have experienced difficulties. Clinical trials have been suspended, and regulatory authorities demand more study to improve the safety of this procedure.
OPPORTUNITY: The market in emerging nations has strong development potential.
Genome editing market expansion is anticipated to benefit significantly from emerging markets like the BRICS countries. The rising R&D funding for various research institutions in these nations might be credited with this. For instance, Brazil is a global leader in industrial biotechnology research and investment, particularly in cellulosic sugars and agribusiness. The discovery of new drugs (small molecules and biologicals), diagnostics, vaccines, cell treatments, regenerative medicine, tissue engineering, and genetic and molecular testing are the main areas of concentration for Brazilian biotechnology firms. Taking these developments into account, the top players in the genome editing market are strategically concentrating on inorganic strategies like partnerships and collaborations to strengthen their distribution networks and improve their manufacturing capabilities in Brazil and other developing nations.
OBJECTIVE: Reduced equipment expenses
The cost of genomic instruments, which can range from USD 10 to 20 million, is high since they have cutting-edge features and functions. Pharmaceutical businesses and research labs spend a lot of capital money buying several genomic equipment because they need so many of these systems. Small and medium-sized pharmaceutical corporations and research labs cannot afford to invest so heavily in numerous genomics devices.
Similar financial limitations prevent academic research laboratories from being able to finance such systems. However, the creation of inexpensive devices is now possible thanks to technological breakthroughs. As a result, the long-term expansion of the market may not be adversely affected by the high cost of equipment.
Genome editing/genome engineering Market in 2020 was dominated by the Reagents and Consumables segment:
The genome editing/genome engineering market is divided into three categories based on product and service offerings: reagents & consumables, software & systems, and services. The greatest share in 2020 belonged to the reagents and consumables section, which was primarily driven by the expanding applications of genomics in many fields, the frequent purchases of reagents and consumables, as well as the increasing demand for and variety of uses of editing and sequencing.
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Market for genome engineering and editing, by region
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The market for genome engineering and editing in North America was the largest regional market in 2020.
There are five main geographic divisions for the genome editing/genome engineering market: North America, Europe, Asia Pacific, Latin America (LATAM), and the Middle East and Africa (MEA). In 2020, North America held the biggest market share, followed by Europe. The industry in North America is primarily being driven by investments in gene therapy research and development, a surge in the usage of GM crops in recent years, and significant technological advancements supported by grants and funding from US government agencies. Due to several government programmes and the escalation of genomics research and development (via GAPP) in the nation, the Canadian market is anticipated to expand in the next years.
Important Market Players
Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), and GenScript are significant market participants in the genome editing/genome engineering space (China).
Genome editing/genome engineering Market, by Region
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe (RoE)
- Asia Pacific (APAC)
- China
- Japan
- India
- Rest of Asia Pacific (RoAPAC)
- Latin America (LATAM)
- Middle East and Africa (MEA)
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