Gene Editing Tools Market - Key Research Findings
Global gene editing tools market size in 2018 – Nearly US$ 258 Mn
The gene editing tools market is expected to grow at an approximate CAGR of 18% over 2019-2029.
North America and Europe are expected to remain the largest regional markets for gene editing tools
North America and Europe are among the prominent regions in the gene editing tools market on account of the increasing number of clinical trials registered for the development of gene editing tools and increase in the number of patents issued claiming CRISPR/Cas9.
Most well-funded CRISPR companies expected to exploit the growth outlook of the gene editing tools market
Major players in the gene editing tools market, such as Editas Medicine, CRISPR Therapeutics, and Intellia Therapeutics, are collectively receiving a total funding of around US$ 410 Mn. The technology transfer business is seldom highly lucrative.
On an average, the U.S. and European universities receive 3.0% and 1.1% of their research funding budget respectively from the licensing royalties.
However, in case of CRISPR, a number of market players are present who are ready to commercialize their CRISPR technology. The impact of legal cases on all these players at the global level is still unclear.
The CRISPR/Cas9 segment is expected to remain the most preferred product type segment of the gene editing tools market
The growth of this segment can be primarily attributed to the increased demand for CRISPR-based genome editing for the treatment of cancer and sickle cell disease.
Some of the key factors, such as improved efficiency and the increased application of CRISPR in veterinary medicine, are expected to propel the growth of the gene editing tools market.
Top 3 Factors Shaping the Gene Editing Tools Market
Steady Growth of CRISPR Despite NO Patent Grants is the Major Trend in the Gene Editing Tools Market
Usually, venture capitals and the Technology Transfer Offices (TTOs) necessitate a clear and strong Intellectual Property (IPR) position in the market before they make any allegiance to invest funds in any life sciences company. However, no such criteria has been fulfilled in the CRISPR field.
The leading companies or manufacturers in the genetic space, such as Editas Medicine, CRISPR Therapeutics, and Intellia Therapeutics, together resister a combined market capitalization of US$ 4.94 Billion. Moreover, despite the ongoing patent dispute among market players for intellectual rights to gene editing tools, the overall funding received by all the three companies exceeds US$ 396.48 Million.
Introduction of Novel Gene Editing Tools is expected to Generate Significant Opportunities for the Gene Editing Tools Market
Genome editing has proven to be a powerful novel gene makeover tool used to make precise deletions, additions, or alterations to the genome of an organism. The development of novel gene editing tools, which include Transcription Activator-like Effector Nucleases (TALENs), Zinc Finger Nucleases (ZFNs), meganucleases, and the recently introduced CRISPR/Cas9 system, has improved the efficiency, precision, and flexibility of genome editing tools.
Moreover, the availability of these enhanced gene editing tools at a lower price as compared to conventional genome editing techniques has proven to be a significant factor boosting the demand for gene editing tools, thus driving the gene editing tools market.
Growing Demand for Personalized Medicine is Propelling the Demand for Gene Editing Tools
Recent advancements in CRISPR and its ease of use have generated significant interest in the biomedical community. CRISPR-based gene editing has high potential to cater to the therapeutic landscape of induced disorders owing to the presence of key players in the industry, such as Intellia, CRISPR Therapeutics, and Editas, which offer precise gene targeted treatments for β-thalassemia and Sickle Cell Disease (SKD).
Over the next few years, the clinical development of CRISPR-based gene editing technology promises to alter the manner in which monogenic or polygenic diseases are treated, though the research is still in its initial stages, thereby generating more revenues in global gene editing tools market.
Gene Editing Tools Market Structure Analysis
- The global gene editing tools market is a fragmented market owing to the presence of a significant number of major market players and regional players
- Manufacturers are focusing on receiving patent approval for their CRISPR-based gene editing techniques and ZFN-based gene editing tools for applications such as veterinary medicine and bioremediation in the U.S.
- Some of the top manufacturers that contribute a high revenue share in the gene editing tools market are Thermofisher Scientific Inc., CRISPR Therapeutics, Editas Medicine, Intellia Therapeutics Inc., and Merck KGaA
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Gene Editing Tools: A Viable Cure for Rare Genetic Disorders
Gene editing tools continue to attract high demand for the treatment of rare genetic disorders such as sickle cell anemia, heart disease, diabetes, Alzheimer's disease, obesity, cancer, and others. In the recent years, manufacturers have renewed their interest in clinical trials to prove the efficiency of gene editing tools in niche application areas, which include veterinary medicine and bioremediation. The growing prevalence of cancer, sickle cell disease, obesity management and Alzheimer's disease is significantly increasing the global demand for gene editing tools.
Market Set to Grow 5.4X between 2019 and 2029
The gene editing tools market is estimated to witness a robust growth over the course of the forecast period. The demand for CRISPR/Cas9 gene editing tools will be driven by their ability to improve the efficiency, precision, and flexibility of genome editing tools, and their availability at a lower price as compared to conventional gene editing tools. Furthermore, the potential set of applications for genome editing in the agriculture and animal healthcare sectors is also driving the adoption of gene editing tools.
Emerging Countries Promise New Opportunities of Growth
North America is projected to contribute the highest revenue share in the global gene editing tools market in 2019. However, robust growth is estimated in developing countries, especially Japan, India, and China, on the account of the shift from investments in R&D and technology, particularly in life sciences, from Europe and North America to Asia Pacific. Emerging economies such as India and China have adequate skilled labor and qualified as well as experienced manpower at affordable prices, which increases the scope for outsourcing of biotech projects. Due to China’s sturdy growth, East Asia is likely to emerge as a lucrative market during the forecast period.
The Broader Perspective
Stakeholders in the gene editing tools market are investing in providing gene-editing tools to cater to research requirements, due to which they can expect to witness stable returns. The research area in genomics has witnessed development on the account of progresses in various molecular and in vitro cellular techniques.
This development could be achieved if the regulatory oversight is impartial to potential hazards, gaining expansive support from researchers, consumers and commercial interests. R&D investments and funding are expected to continue to grow over the assessment period.
How Growth will Unfold
CRISPR/Cas9 gene editing tools are expected to continue to maintain their dominance over other gene editing tools during the assessment period, whereas Zinc Finger Nucleases (ZFNs) are also expected to gain acceptance at a steady pace.
GENE EDITING TOOLS MARKET TAXONOMY
The global gene editing tools market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
- Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR/Cas9)
- Zinc Finger Nucleases (ZFNs)
- Transcription Activator-Like Effector Nucleases (TALENs)
- Viral Systems
- Transposon Systems
- Veterinary Medicine
- Cell Line Engineering
- Food and Brewing Development
- Food Waste Management
- Bio sensing Development
By End User
- Biotech and Pharma Companies
- Contract Research Organizations
- Academic and Research Institutes
- Food Industry
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa