Rising prevalence of genetic abnormalities and increasing drug discoveries are key factors driving global genome editing market revenue growth
NEW YORK, Oct. 14, 2021 /PRNewswire/ -- The global genome editing market size is expected to reach USD 19.06 billion in 2028 and register a CAGR of 17.2% over the forecast period, according to the latest report by Reports and Data. Some of the key factors driving genome editing market revenue growth include rapid advancements of gene editing technologies, rising prevalence of genetic abnormalities, and increasing investment by government & private investors in biotechnology & biomedical research activities. Genome editing, also known as gene editing or genome engineering is a method that is used to change, alter, or modify an organism's gene sequence.
Genome editing is performed using different types of technologies such as Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR), Zinc-finger Nucleases (ZFNs), Transcription Activator-like Effector Nucleases (TALEN), antisense, and others. Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) is a unique gene editing technology containing two significant components, namely, gRNA or guide RNA and an enzyme called Cas9. CRISPR segment accounted for largest revenue share in the global market in 2020. Increasing use of CRISPR in gene alteration process due to its different benefits such as cost-effectiveness, ease of use, and others would drive growth of this segment. Transcription Activator-like Effector Nucleases (TALEN), on the other hand, is a state-of-the-art technology consisting two operational domains, namely, DNA nuclease domain and TALE or DNA-recognition transcription activator-like effector.
In September 2021, KromaTiD launched dGH Screen, its latest product for mapping the human genome in single cells. This tool utilizes the company's Directional Genomic Hybridization (dGH) technology to measure genomic structure and structural variation. Researchers can visualize structures of the human genome and discover variations at a resolution of 5 kilobases.
Pharmaceutical companies segment accounted for majority revenue share in the global market in 2020. Increasing prevalence of infectious diseases is one of the crucial factors boosting revenue growth of this segment.
Asia Pacific is expected to register a relatively faster revenue CAGR throughout the forecast period. This can be attributed to growing emphasis on drug discovery and development activities in the region.
Some companies in the market report include Thermo Fisher Scientific, Merck & Co, Horizon Discovery Limited, Lonza, GenScript, Eurofins Scientific, Precision Biosciences, Oxford Genetics, Intellia Therapeutics, and Sangamo Therapeutics.
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For the purpose of this report, Reports and Data has segmented global genome editing market based on technology, product & service, application, end-use, and region:
Technology Outlook (Revenue, USD Billion; 2018-2028)
Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR)
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