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Genome Editing Market to hit $7.5bn by 2024

U.S. genome editing market share led the global industry with USD 518.5 million in 2015 owing to advancement in biotechnology and pharmaceutical industry and rising prevalence of Alzheimer, dementia, cancer and infectious diseases.

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

Genome/Gene editing market is slated to register a massive double-digit growth rate over the coming seven years. The rising number of biotechnology and pharmaceutical firms will provide heavy revenue generating opportunities for the genome editing industry players over the coming years. Moreover, increasing prevalence of cancer and genetic disorders will further enhance the scope of the Genome editing market. According to Global Market Insights, Inc. “Global Genome editing market size worth USD 2.17 billion in 2015, is estimated to witness a CAGR of 14% over the period of 2016-2024.”

The rapid technological advancements in healthcare industry will also build a profitable roadmap for the genome-editing industry. Precision medicine market, which is estimated to surpass a revenue of USD 85 billion by 2023, will also promote the genome-industry market trends. The government support and increasing investments in R&D to enhance the technological outlook will also boost the genome editing industry share notably over the coming timeframe. The pharmaceutical industry is also actively collaborating with the genome editing firms to implement the technology use in clinical development. In addition to this, the industry will gain wide acceptance on account of its benefits in the wellbeing of humans, animals, and plant ecosystems.

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Genome editing industry finds a varied set of applications across areas such as oncology, muscular disorders, infectious disease, and hematology. Hematology led the application landscape with a revenue of USD 807 million in 2015. Rising prevalence of infectious diseases such as HIV will promote the genome editing industry size in infectious disease applications, with a revenue estimation of USD 2.5 billion by 2024. Moreover, oncology applications will also exhibit a decent growth rate over the coming seven years, with an annual CAGR of 16% over 2016-2024. The increasing number and types of cancer will primarily contribute towards the application growth.

CRISPR/Cas9 is the most prominent technology implemented in the genome editing applications and has been the most buzzed topic among the researchers worldwide. The ability of CRISPR/Cas9 technology to enable multiple edits at once has made it a breakthrough in the genome editing technology landscape. Moreover, its simplicity, specificity, and speed will further promote the technology demand over the coming years. CRISPR technology based Genome editing market is estimated to exceed a revenue of USD 3 billion by 2024. Other notable technologies deployed in the genome editing industry include TALENS, Mega nucleases, and Zinc Finger Nucleases (ZFNs).

The major end-users participating in the Genome editing market include CROs (Contract Research Organizations), Biotech & Pharma companies, and Research Institutes. Biotech and Pharma dominated the end user landscape accounting for 58% of the overall market share in 2015. The growth can be attributed to increasing applications of genome editing in therapeutics and drug discovery. Moreover, enhancements in the field of genetic engineering will further expand the scope of Genome editing market in biotech and pharma sector. CROs will also emerge as a prominent revenue generating sector due to increased outsourcing by the pharmaceutical companies for complex drug discovery.

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Considering the global trends, US genome editing industry led the global landscape, with a revenue of USD 518 million in 2015. The trend is likely to continue with the rapid expansion of biotech and pharma industry coupled with the rising prevalence of diseases such as Alzheimer, cancer, and other infectious ailments. UK Genome editing market is anticipated to surpass USD 744 million by 2024, driven by the growing geriatric population base and frequent occurrence of chronic ailments across Europe. Asia Pacific will also exhibit substantial growth over the coming years. Improving healthcare infrastructure, technological developments in the medical space, rising geriatric population base, and favorable government norms will stimulate the APAC market growth.

Lack of awareness about genome-editing may prove to be a roadblock for the market growth. However, the government support towards spreading awareness will undoubtedly improve the future business scenario. The emerging economies will gain a major traction of the industry players to expand the regional base. Key market participants include Agilent Technologies, AstraZeneca, Allele Biotech, Cellectis, Bio Rad, Editas Medicine, CRISPR Therapeutics, Lonza, GE Healthcare Dharmacon, Recombinetics, Inc., Qiagen, Thermo Fisher Scientific, and Sigma-Aldrich.

Browse key industry insights spread across 150 pages with 90 market data tables & 7 figures & charts from the report Genome/Gene Editing Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/gene-editing-market

Genome editing market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD billion from 2013 to 2024, for the following segments:

Global Genome editing market by Application (Revenue, USD Million, 2013 – 2024)

  • Hematology
  • Infectious Disease
  • Oncology
  • Muscular Disorders
  • Others

Global Genome editing market by technology (Revenue, USD Million, 2013 – 2024)

  • CRISPR/Cas9
  • Zinc Finger Nucleases (ZFNs)
  • Meganucleases
  • TALENS
  • Others

Global Genome editing market by end users (Revenue, USD Million, 2013 – 2024)

  • Biotech and Pharma
  • CRO
  • Research Institutes

The above information is provided on a regional and country basis for the following:

Genome editing market regional analysis (Revenue, USD Million, 2013 – 2024)

  • North America
    • U.S.
    • Canada
  • Europe
    • France
    • UK
    • Spain
    • Russia
    • Poland
  • Asia PacificLatin America
    • China
    • Japan
    • India
    • Australia
    • Malaysia
  • Brazil
  • Mexico
  • Argentina
  • MEA
    • South Africa
    • Saudi Arabia
    • Israel

 

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