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Gene Editing Market to Hit USD 7.59 Billion by 2029 with 10.2% CAGR | MarketsandMarkets™


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MarketsandMarkets

15 Nov, 2024, 15:01 GMT

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DELRAY BEACH, Fla., Nov. 15, 2024 /PRNewswire/ -- The global gene editing market is expected to reach USD 7.59 billion in 2029 from USD 4.66 billion in 2024, at a CAGR of 10.2% during the forecast period. The main factors behind the expansion of this market are demand for personalized medicine, and favourable government funding investments for gene editing projects. The expanding range of gene editing applications, spurred by technological advancements in prime editing, bridge RNA and the growing burden of congenital diseases, are also contributing to the market's expansion.

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Browse in-depth TOC on "Gene Editing Market"

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Based on Offerings, the market is divided into products and services segments. The products segment accounted for the largest share of the gene editing market in 2023. The large share of products is majorly due to the reagents, kits, and other consumables that are used in CRISPR, TALEN, ZFN and other gene editing technologies for applications such as cell line development, drug discovery and development and genome engineering represent a major product category, contributing to a large market share.  However, the service segment accounted for the second-largest share in the market.

Based on Product Type, the market is divided into reagents & consumables, and Software & systems. The reagents & consumables segment held the highest share of the market in 2023. Reagents & consumables consists of gene editing kits, gene editing reagents, and gene editing libraries all of which are essential into carry out gene editing experiments and workflow. Gene editing reagents & consumables encompass various essential components, such as nucleases, controls, antibodies and enzymes, that support the gene editing process and cater to diverse applications, including cell line engineering, genome editing, drug discovery and development. However, software & systems held the second highest share.

Based on Reagents & Consumables Technique, the market is segmented into knock-out, knock-in, gene silencing and other techniques which include jump-in, homologous recombination, gene overexpression among others. The reagents, kits, and consumables segment accounted for the largest share of the genomics market in 2023. Reagents, kits, and other consumables used in sequencing, PCR, and microarray technologies represent a major product category, contributing to a large market share. However, the instrument segment accounted for the second largest share in the segment. The knock-out segment held the highest share owing to large applications in gene editing process like drug discovery and cell line engineering, however knock-in held the second highest share of the gene editing reagents & consumables market by technique.

Based on Product Technology, the gene editing market is segmented into CRISPR, TALEN, ZFN, Base editing, Antisense, RNAi and other technologies which include PiggyBac, Prime editing among others. The CRISPR segment held the highest share of the gene editing products market by technology driven by advancements in CRISPR technology, products cater to a range of CRISPR applications, from gene knockout to precise gene correction or insertions using tools like donor oligos and design software for CRISPR-based genome editing. However, TALEN held the second highest share of the gene editing market.

Based on Product Application, the gene editing market is segmented into cell line engineering, genome editing/genetic engineering, drug discovery and development and other applications which include clinical diagnostics, xenotransplantation among others. The cell line engineering segment held the highest share of the market owing to increase in demand for precise cell line engineering and development for research and development purposes. Products are utilized in cell line engineering to facilitate precise genetic modifications and supporting various research applications. Key products in this market include reagents & Kits, Software and Systems which are utilized for gene knockouts, knock-ins, and point mutations in cell line. However, genome editing/genetic engineering held the second highest share of the gene editing products market by application.

Based on Product End User, the gene editing market is segmented into Pharmaceutical & biotechnology companies, academic & research institutes, CROs & CDMOs and other end users which include clinical diagnostic companies, biobanks among others. Pharmaceutical & biotechnology companies held the highest share of the market owing to high demand for gene editing products in R&D and drug development departments of these companies. Gene editing products are indispensable for advancing gene-based therapies, making them critical for pharmaceutical & biotechnology companies aiming to innovate in areas like oncology, rare diseases, and immunology. Academic & research institutes held the second highest share of the gene editing products market by end user due to increase demand for gene editing products in research and experimentation involving gene editing.

Based on Service Type, the gene editing market is segmented into cell line development & engineering, gRNA synthesis and vector construction, Library construction & screening, and other services which include off-target analysis and mutagenesis services. Cell line development & engineering held the highest share of the market. The gene editing services in cell line development and engineering are utilized for precise genome modifications for research, drug discovery, and biopharmaceutical production. Services utilize several gene editing technologies such as CRISPR which allow for knockouts, knock-ins, and targeted mutations across a wide variety of mammalian and other cell types. gRNA synthesis & vector construction held the second highest share of the market. The ability to customize vectors, including options for fluorescent or resistance gene markers, enriches the transfected cells, improving gene editing efficiency which is driving growth in this market.

Based on Service Application, the gene editing market is segmented into cell line engineering, genome editing/genetic engineering, drug discovery & development and other applications which include clinical diagnostics, and xenotransplantation among others. The drug discovery & development application held the highest share of the gene editing services market by application in 2023. The drug discovery & development segment is further sub segmented into blood disorders, cancer, CNS and others which include Ophthalmology, infections and dystrophies among others. The rising trend of companies exploring and developing gene therapies for these disorders is driving the demand for gene editing services in drug discovery and development. Cell line engineering application held the second highest share of the market.

Based on Service End User, the gene editing market is segmented into pharmaceutical & biotechnology companies, Academic & research institutes, and other end users which include diagnostic companies, biobanks, and small-scale CDMOs among others. Pharmaceutical & biotechnology companies held the highest share of the market as they utilize various types of services such as cell line development and engineering, gRNA synthesis & vector construction, and Library construction and screening for various applications such as drug discovery and development. However Academic and research institutes held the second highest share of the gene editing services by end user.

The gene editing market is segmented into six major regions, namely, North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. North America is the largest regional market for gene editing in 2023, while Europe is the second-largest market. The large share of North America can be attributed to the surge in development and approval of advanced therapies requiring gene editing products and services. However, The Asia Pacific is estimated to be the fastest-growing segment of the market characterized by a significant focus on R&D activities to broaden the scope of genomics applications, increasing adoption of genomics technologies for diagnostics, and technological developments in genomic data analysis.

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The gene editing market is competitive with key players such Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), GenScript (US), Agilent Technologies, Inc. (US), Revvity (US). The market players have adopted various strategies such as development of advanced products, services, partnerships, contracts, expansions, and acquisitions to strengthen their position in the gene editing market. The organic and inorganic strategies have helped the market players expand globally by providing advanced gene editing products and services.

Thermo Fisher Scientific Inc. (US):

Thermo Fisher Scientific Inc. provides an extensive portfolio of life science solutions, analytical instruments, diagnostics, and laboratory services for many applications. The company offers a comprehensive portfolio of gene editing products and services, encompassing tools, services, and software for gene modification. The company provides gene editing tools and services via the Genetic Sciences and Biosciences business within the life sciences solutions segment. The company has executed organic and inorganic growth strategies, launching products such as the Gibco CTS AAV-MAX Helper-Free AAV Production System in November 2022, establishing a manufacturing facility at the University of California, San Francisco in March 2023, and acquiring gene editing companies like PeproTech, Inc. (US) in January 2022.

Merck KGaA (Germany):

Merck KGaA is a healthcare-focused research and technology company. The company offers gene editing technologies and services through the Science & Lab Solutions subsegment of the Life Sciences segment. Sigma Aldrich and Milliporesigma are the brand names under which the firm distributes its gene editing solutions. The firm has a global reach through its subsidiaries and brands. The company expanded inorganically by acquiring Mirus Bio, Inc. (US) in May 2024 and forming a partnership with Synplogen Co., Ltd. (Japan) in December 2022.

GenScript (US):

Genscript is a biotechnology company that provides life science research application instruments and services. The company operates in the gene editing market through the Life Science Services and Products segment which provides comprehensive life-science research services and products. The company operates in over 100 countries through various subsidiaries. GenScript (US) pursued organic growth with the launch of FLASH Gene in June 2024 and expansion of gene synthesis services in Singapore in February 2023, while also forming an inorganic partnership with PersonGen-Anke Cellular Therapeutics (US) in March 2023 to enhance cell therapy development.

Agilent Technologies, Inc. (US):

Agilent Technologies, Inc. is a life sciences, diagnostics, and applied chemicals company that offers instruments, software, consumables and services for entire laboratory workflow. The company offers gene editing products and services through the diagnostics and genomics business segment. The company has several subsidiaries spanning across all major regions. The company strengthened inorganically by acquiring BIOVECTRA, Inc. (Canada) in July 2024 and collaborating with Merck KGaA (Germany) in June 2022 to advance process technologies and organically by expansion of a manufacturing facility in China in August 2021.

Revvity (US):

Revvity is a health science solutions company that focuses on technology and services ranging from research to development and diagnosis. Revvity provides a variety of products and services in the Life Sciences segment, including gene editing products and services, to help with cell, gene, and protein studies. Revvity distributes its products and services in over 160 countries. Revvity pursued organic growth by launching its pin-point base editing platform reagents in September 2023, while inorganic growth was achieved through collaborations with GenKOre (South Korea) in June 2023 and a partnership with AstraZeneca Plc (UK) in May 2023, which involved licensing their services to develop advanced gene therapies.

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Related Reports:

Artificial Intelligence in Genomics Market

Gene Expression Analysis Market

Base Editing Market

Gene Therapy Market

Cell & Gene Therapy Manufacturing Services Market

Get access to the latest updates on Gene Editing Companies and Gene Editing Market Size

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