Gene Editing Market is Projected to Gain $7.4 Billion By 2031, Claims Allied Market Research
The global gene editing market is witnessing a surge in growth due to various factors, such as an increase in research and development expenditure in the BRICS, the development of the biotechnological and pharmaceutical sectors, a rise in public and private sector funding for the development of gene editing, the rapid progress of sequencing and genome-editing technologies, the non-labeling of gene-modified products such as GMOs, the utilization of gene-editing in drug discovery processes, and an increased need for synthetic genes. Nevertheless, the North America region held the largest market share in 2021.
Wilmington, Delaware, Oct. 25, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report on the global gene editing market size estimated at $3.9 billion in 2021 and is predicted to gain $7.4 billion by 2031, exhibiting a CAGR of 6.7% during the forecast timeframe. This market report provides an in-depth analysis of leading investment pockets, top-performing strategies, market dynamics, market size and forecasts, competitive analysis, and forecast timeframe. It is an essential resource for the emerging market players, and stakeholders to strategically plan and strengthen their competitive edge.
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Report Coverage and Details:
|Market Size in 2021||$3.9 Billion|
|Market Size in 2031||$7.4 Billion|
|No. of Pages in Report||297|
|Segments Covered||Technology, End User, Application, and Region|
|Drivers||An increase in research and development expenditure in the BRICS|
|The development of the biotechnological and pharmaceutical sectors|
|A rise in public and private sector funding for the development of gene editing|
|The rapid progress of sequencing and genome-editing technologies|
|The non-labeling of gene-modified products such as GMOs|
|Restraints||An increase in the cost of genomic equipment|
|Opportunities||The growing demand for synthetic genes to make drugs to cure cancer|
|The utilization of gene-editing in drug discovery processes|
Recent Developments in the Gene Editing Market
- In June 2022, Biorad launched SEQuoia express standard library prep kit at AGBT 2022. The SEQuoia Express Stranded RNA Library Prep Kit offers a cost-effective and automation-friendly solution to the current challenges in library generation.
- In June 2022, Precision BioSciences, Inc. launched ARCUS is a highly precise and versatile genome editing platform that was designed with therapeutic safety, delivery, and control in mind.
- In April 2022, Takara Bio announced a novel brain-tropic aav vector cereaav for gene therapy.
- In January 2022, Origene Technologies updated logo for rebranding its expansion from genomics to proteomics OriGene updates its logo, signifying its evolvement from genomic to proteomic market.
- In December 2021, Thermo Fisher Scientific introduced its new protein, invitrogen truecut hifi cas9 protein, to complement its growing crispr gene editing solutions portfolio.
- In November 2021, CRISPR therapeutics announced FDA regenerative medicine advanced therapy (rmat) designation granted to CTX110 for the treatment of relapsed or refractory cd19+ b-cell malignancies.
- In April 2021, Vertex Pharmaceuticals paid CRISPR Therapeutics $900 million in April 2021 to develop, manufacture, and market CRISPR-Cas9 gene-edited treatment for beta-thalassemia and sickle-cell disease.
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The global gene editing market is categorized into different segments based on the technology, end user, application, and region. It is presented in both tabular and graphical form, permitting an individual or a business entity to gain insight into the highly lucrative and rapidly expanding segments.
By technology, the CRISPR-Cas9 gene editing segment contributed nearly two-fifths of the global gene editing market revenue in 2021, and is expected to maintain its lead position during the projection period. The same segment would also showcase the highest CAGR of 7.9% throughout the forecast period.
By application, the gene editing segment held the major market revenue in 2021, garnering more than one-fourth of the global gene editing market revenue in 2021, and is projected to rule the roost by 2031. The same segment would also display the highest CAGR of 8.2% throughout the forecast period.
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By region, North America held the major market share in 2021, accounting for two-fifths of the global gene editing market revenue. Nevertheless, the Asia-Pacific region would exhibit the highest CAGR of 7.7% throughout the forecast period.
The prominent players have been analyzed and identified in the global gene editing market such as Precision Biosciences, Transposagen Biopharma Inc., Allele Biotech, Takara Biotech, Thermofischer Scientific Inc., Bio-Rad Laboratories, OriGene Technologies, Addgene, CRISPR Therapeutics, and General Electric.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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