Global Genome Editing Market Size

Genome Editing Market Analysis

Genome Editing Market is expected to register a healthy CAGR of nearly 14.4% during the forecast period, 2022-2027.

Molecular biology tools that include gene editing approaches, such as CRISPR-Cas12/13-based SHERLOCK, DETECTR, CARVER and PAC-MAN, ASO, antisense peptide nucleic acids, ribozymes, aptamers, and RNAi silencing therapies, proved to be crucial in COVID-19 outbreaks when compared to conventional diagnostic or treatment methods. For instance, in February 2022 a review article published titled "A Review of COVID-19: Treatment Strategies and CRISPR/Cas9 Gene Editing Technology Approaches to the Coronavirus Disease" stated that for detecting a wide range of target genes, the CRISPR/Cas categories provide highly sensitive and selective tools. Genome-wide association studies are a relatively new strategy for discovering genes involved in human disease when it comes to the next steps in genomic research. Thus, COVID-19 had impacted the growth of the genome editing market over the forecast period.

The increasing prevalence of cancer and other genetic disorders, growing preference for personalized medicine, increase in private and public sector funding, and rapid advancements in sequencing and genome editing technologies are some of the factors propelling the growth of the genome editing market. According to the National Center for Advancing Translational Sciences updates form June 2022, the Somatic Cell Genome Editing (SCGE) Program at the National Institutes of Health (NIH) has awarded 24 more grants to researchers across the United States and Canada. The SCGE Program has awarded a total of USD 89 million in advance genome editing grants, over the next four years. This brings the total number of projects supported to 45, with approximately USD 190 million in funding spread out over six years. Such grants from the national institutes help to boost the market over the forecast period. Additionally, in May 2020, Rice University researchers have been awarded a four-year, USD 2.45 million grant from the National Institutes of Health (NIH) to support the development of a gene-editing treatment for sickle cell disease (SCD). The R01 grant, funded by the National Institutes of Health, aims to advance a method of modifying the stem cells responsible for producing damaged blood cells in SCD patients. The increase in research grants is expected to surge the research studies for genome editing which is expected to boost the growth of the studied market over the forecast period.

Moreover, in January 2020, Garner was allocated the National Institutes of Health (NIH) grant of more than USD 6 million to the fight against genetic diseases. Increasing research in the feild of genome editing is another factor propelling the growth of the market. According to the article published in the Frontier in Genome Edition in March 2021, titled 'CRISPR/Cas: Advances, Limitations, and Applications for Precision Cancer Research' CRISPR/Cas is a technology capable of making specific genome modifications in living eukaryotic cells. Sequence deletions, insertions, substitutions, integrations, and epigenetic gene regulation are all examples of genomic modifications.

Collaborations are another factor in the growth of the market. For instance, in November 2020, Eli Lilly partnered with Precision BioSciences to use the ARCUS platform to research and develop potential in vivo therapies for genetic disorders, through a collaboration that could potentially generate about USD 2.7 billion for the Durham, NC, developer of therapies based on genome editing as well as 'off-the-shelf' CAR T immunotherapies. Hence, such collaborations would increase market growth in the upcoming future.

However, the high cost of genomic equipment and ethical concerns related to genetic research will hinder the market growth.