Gene Editing Market size to exceed USD 19.9 billion by 2030

Gene Editing Market size is set to surpass USD 19.9 billion by 2030 owing to an increased funding for genomic research and technological advancements in gene editing tools, according to a new research report by Global Market Insights Inc.
 

Expansion of the biotechnology and biopharmaceutical industry and rising R&D expenditure in genomics are anticipated to drive the market growth. Moreover, increasing demand for synthetic genes along with increasing use of genetically modified organisms will foster the market growth during the forecast period.

 

Growing demand for synthetic genes in developed, as well as developing countries, will propel the market revenue

Rising demand for synthetic genes in developed as well developing countries will boost the gene editing market growth over the analysis period. Synthetic genes are more applicable for the production of genetically modified (GM) crops in developing economies. The synthetic genes modify the endogenous metabolic pathways of plants to improve their photosynthetic efficiency and nutritional quality of the plant.
 

 For this, researchers mainly prefer CRISPR/Cas9 technique for developing and modifying new crops. This technique also requires different government approvals for the production of genetically modified crops. Moreover, increasing demand for synthetic genes for drug development to treat cancer will significantly boost the gene editing market share over the forthcoming years.
 

Multiple applications of gene editing in animal genetic engineering will drive the industry share

Based on application, the animal genetic engineering segment accounted for around 27% market share in 2021 owing to rising consumption of dairy products obtained from domestic animals coupled with surging demand for animal products for feed additives, healthy livestock, and other supplies. Moreover, animal genetic engineering helps scientists to study and identify the desired animal breeds to obtain information on biological functions and its applications. Additionally, increasing research activities for the study and application of animal gene editing will contribute toward the gene editing market segment during the forecast period.
 

Some of the animal diseases are transmissible to humans leading to rising in focus towards genetic management of animal diseases. This disease management is important due to the increasing consumption of animal-based products such as milk, meat, poultry in urban middle-class populations.
 

Browse key industry insights spread across 130 pages with 103 market data tables & 14 figures & charts from the report, “Gene Editing Market Size By Application (Cell Line Engineering, Animal Genetic Engineering, Plant Genetic Engineering), By Technology (CRISPR/Cas9, Zinc Finger Nucleases (ZFNs), TALENs), By End-user (Biotech and Pharma Companies, Contract Research Organizations (CROs), Research Institutes), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/gene-editing-market
 

Rising potential of Zinc Finger Nucleases (ZFNs) in genetic engineering field will ramp up the market growth

Based on technology, ZFNs segment exceeded USD 1.3 billion in 2021 owing to its multiple benefits and applications in gene editing. ZFNs is a type of synthetic DNA-binding protein that allows for targeted gene editing by causing double-strand breaks in DNA at user-specified location. Therefore, ZFNs technique is applicable for functional genomics/target validation, cell-based screening, and cell line optimization.
 

Moreover, ZNFs are utilized in a wide range of biotechnological and life science applications to modify the genomes of animals and plants for research. As a result, such varied applications of ZNFs are expected to contribute significantly to the overall market growth during the forecast period. The businesses will modify the expression of major genes involved in neurological disorders using Sangamon’s proprietary zinc finger protein technology delivered through the adeno-associated virus. Additionally, ZFNs can target specific DNA sequences with specially built Zinc finger domains, allowing them to accurately modify the genomes of higher species.
 

Rising R&D in Research institutes will increase the gene editing market value

Based on end-user, The research institutes segment is projected to witness over 15.8% CAGR from 2022 to 2030 owing to the rising government support and increased subsidies for research studies. Additionally, the increased need for therapeutic breakthroughs to treat various genetic and uncommon conditions around the world will contribute towards growth. Furthermore, increasing research studies to modify genes of living organisms and to improve understanding of gene function will prove beneficial for gene editing market growth.
 

Increased funding on genetic research in the European region will propel the market expansion

Europe gene editing market is expected to grow at 15.5% CAGR over the forecast period due to the strong presence of prominent participants in the European region. Increasing government funding for research studies on advanced gene therapies for genetic disorders will further favor the industry growth. Furthermore, surging awareness about availability of advanced gene therapies for genetic disease treatment will fuel regional market growth.
 

Major leaders are focusing on strategies & launching innovative products to capture a higher market share

Some of the prominent market players operating in the gene editing industry include Sangamo Therapeutics, Horizon Discovery Ltd., Inc., GenScript, Integrated DNA Technologies, Inc., Precision Biosciences, Bearn Therapeutics, Intellia Therapeutics, Inc., CRISPR Therapeutics, Caribou Biosciences, Inc., and Thermo Fisher Scientific Inc. among others. These players are implementing various strategic collaborations, innovations, mergers, and acquisitions to sustain the competition and strengthen its value.
 

For instance, in August 2020, Beam Therapeutics established a collaboration with Institute of Molecular and Clinical Ophthalmology Basel for developing precision genetic medicines through base editing. This strengthened their global position in the market.