Gene Editing Market: By Technology (Zinc Finger Nuclease (ZFN), Clustered regularly interspaced short palindromic repeats (CRISPR), Transcription activator-like effector nuclease (TALEN), Others),  by Application (Cell Line Editing, Targeted gene mutation, Animal Genome Editing, Plant Genome Editing), Product Type (Consumables, Instruments and Software), End-user (Pharmaceutical companies, Biotechnology Companies, Academics, Clinical Research Organizations) and Geography

 

Gene Editing Market size was valued at USD 4.98 billion in 2022 and is expected to reach USD 16.36 billion by 2029, at a CAGR of 18.5% during the forecast period 2023-2029. Gene editing or genome editing is the type of genetic editing where DNA is inserted, replaced, or deleted in the genome of an organism in order to treat a specific disease by using molecular scissors or engineered nuclease. These nucleases create site-specific double-stranded breaks in desired locations in the genome. The induced double-stranded breaks are repaired through nonhomologous end-joining or homologous recombination resulting in targeted mutations (edits). Biotechnology and pharmaceutical sectors dominate the gene-editing market due to their applications in drug discovery and therapeutics. Rise in the usage of CRISPR and ZFN, companies are investing in innovative research for the development of novel gene-editing techniques. Many players are adopting various strategies which include collaborations for R&D outsourcing, mergers, and acquisitions, strategic or manufacturing activities that are driving the growth of the gene-editing market. For instance, in 2014, Thermo Fisher acquired Life technologies, to create unbeatable leadership in life sciences insrumentation, research, specialty diagnostics, and applied markets. In 2014, Sigma-Aldrich Corporation (U.S.) entered into an agreement with Broad Institute of MIT and Harvard (U.S.) to use CRISPR technology. High growth potential in emerging regions provides lucrative opportunities to industry players.