GENOME ENGINEERING MARKET ANALYSIS

Market Size and Trends

Global genome engineering market is estimated to be valued at USD 6.71 Bn in 2024 and is expected to reach USD 17.33 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 14.5% from 2024 to 2031.

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Global genome engineering market trends have shown significant advancements in techniques such as CRISPR, TALENs, and ZFNs. These new technologies have streamlined the genome editing process, thus, allowing for increased efficiency and precision. Reduction in time and costs involved has led to wider adoption of genome engineering across various industry verticals such as biotechnology and pharmaceutical companies. The applications of genome editing continue to grow as well with active research being done for treating genetic diseases, developing genetically modified crops, and even biological weapon deterrence programs. As the technology evolves further and matures, it is anticipated that genome engineering will transform multiple sectors of the economy globally.

Increasing Investments for Gene Therapy

Increasing investments for CRISPR-based gene therapy development is expected to drive the market growth over the forecast period. For instance, in October 2023, National Institutes of Health (NIH) announced that it had granted US$ 40 million of funding to Yale School of Medicine, Medical school in Connecticut, U.S. to support the development of a gene-editing platform, capable of reaching the human brain. The innovative new genome-editing technology, which was developed from the first phase of the NIH Common Fund Somatic Cell Genome Editing (SCGE) program, could potentially lead to treatments or cures for many neurogenetic diseases.

Market Concentration and Competitive Landscape

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Rising global healthcare expenditure leads to growing demand for more effective and affordable medical solutions. As population ages and chronic diseases become more prevalent worldwide, there is immense pressure on healthcare systems to innovate. Genome engineering technology represents a major opportunity to address some of the biggest challenges facing public health. Nearly 8,000 rare genetic disorders have been identified that currently lack satisfactory treatment options. Diseases like cancer, heart disease, diabetes and neurological disorders like Alzheimer’s continue to take a major human and economic toll.

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Ethical and societal concerns surrounding gene editing technologies can hamper the market growth. The lack of consensus around appropriate regulation and governance can hamper the market growth. Companies and researchers are wary of developing applications that could invite public backlash or regulatory issues down the line. The regulatory environment remains ambiguous and complex involving multiple agencies. This policy uncertainty creates hurdles for companies to confidently invest in long-term R&D initiatives.

Market Opportunity – Adoption of CRISPR Technology in Agriculture and Biotechnology Industry

The adoption of CRISPR technology in agriculture and biotechnology industry provides a huge opportunity for growth of genome engineering market. CRISPR is revolutionizing how one modify genomes and has the potential to help feed the billions. CRISPR can help address this issue by enabling more precise and efficient breeding of climate-resilient and nutritious crop varieties. It allows for more targeted introductions of beneficial traits and faster development of new hybrid varieties as compared to conventional breeding methods. This ability to precisely edit plant genomes can help farmers to boost yields while using less water, land and agrochemicals to produce food.

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Technology segment is sub-segmented into CRISPR, TALEN, ZFN, others. CRISPR  segment is estimated to hold 42.4% of the market share in 2024, owing to its precision and cost-effectiveness relative to other technologies. CRISPR uses a dual-RNA structure to target specific segments of genomic DNA with unprecedented accuracy. By utilizing a customized CRISPR-associated protein Cas9 along with programmable RNA molecules, scientists can efficiently edit genomes at the exact loci of interest. The simpler design and delivery of CRISPR components has significantly reduced the cost per genome editing experiment. Researchers can perform high-throughput screens and multiplexed gene edits for a fraction of previous prices. Both the precision and affordability of CRISPR have accelerated its adoption across scientific fields including developmental biology, immunology, and disease modeling. CRISPR's clear advantages over other tools continue drives its leadership position within the genome engineering market.

Insights, By Application: Genetic engineering drives application in biotechnology and healthcare

Application segment is sub-segmented into cell line engineering and genetic engineering. Genetic engineering  segment is estimated to hold 57.4% of the market share in 2024, due to its diverse and impactful uses across biotechnology and healthcare. Genetic engineering utilizes tools like CRISPR to modify organisms for improved traits, create new cell lines, and advance therapeutics development. In agriculture, gene editing enhances crop yields, disease resistance, and nutritional content. Manufacturers produce novel biological products like enzymes, antibiotics, biofuels through genetic engineering of microbial cell lines. Genetic engineering plays a pivotal role in developing advanced cell and gene therapies. Modifying immune cells or adding corrective genes holds promise for curing numerous diseases. Overall, genetic engineering applications span multiple high-growth industries and have potential to revolutionize fields like pharmaceuticals, agriculture, and manufacturing. Its diverse impact fuels extensive research and commercialization, ensuring genetic engineering's dominance in application segment.

Insights, End User: Increase in collaborations between biopharmaceutical companies for the advancements in gene editing

End User segment is sub-segmented into  biotechnology & pharmaceutical companies, research institutes, contract research organizations. Biotechnology & pharmaceutical companies  segment is estimated to hold 40.7% of the market share in 2024, due to increasing collaborations between biopharmaceutical companies for the advancements in gene editing. For instance, in September 2023, Ginkgo Bioworks, a U.S.-based biotechnology company, announced a collaboration with Pfizer Inc., a U.S.-based multinational pharmaceutical and biotechnology firm. Through this collaboration, Pfizer will use Ginkgo’s proprietary RNA technology to advance the discovery and development of novel RNA molecules across priority research areas. Ginkgo will receive an upfront payment and will be eligible to receive research fees and development and commercial milestone payments, up to an aggregate total of US$ 331 million across three programs. Ginkgo is entitled to potential further downstream value in the form of royalties on sales.

Regional Insights

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North America remains the dominant region in the global genome engineering market and is estimated to hold 38.6% of the market share in 2024, owing to strong presence of leading biotechnology and pharmaceutical companies in the U.S. and Canada. The region is home to prominent genome engineering technology developers and service providers who have been undertaking significant R&D activities in the field. Increasing government funding for genomics research and presence of advanced healthcare infrastructure can drive the market growth. Many top universities in the U.S. and research institutes have played a pivotal role in advancing genome engineering capabilities through innovative projects.

Asia Pacific has emerged as the fastest growing regional market. The market growth is driven by rising healthcare investments, increasing focus on genomic research, and growing bioeconomy in major countries. China and India have witnessed rapid development of their genomics capabilities in the recent past. Considerable funding from public and private sectors for building genomics infrastructure and talent pool has created conducive environment for market expansion. Furthermore, several global players have established manufacturing and research centres in Asia to leverage low-cost skilled resources and grow their regional footprint. Countries like South Korea, Japan, Singapore, and Australia are also actively investing in genome engineering research and technologies.

Market Report Scope

Key Developments

• On April 25, 2024, Regeneron Pharmaceuticals Inc., a pharmaceutical company, announced that it had collaborated with Mammoth Biosciences, Inc., a biotechnology company, to combine Mammoth Biosciences, Inc.’s platform with Regeneron’s effort to develop adeno-associated viral vectors (AAVs) that will use antibody-based targeting to enhance delivery of genetic medicine payloads to specific tissues and cell types. The collaboration helps to expand Regeneron’s genetic medicines presence with more gene editing programs.
• On March 13, 2024, Ricoh Company, Ltd., a digital services company, announced a non-exclusive licensing agreement in the U.S. and Japan with ERS Genomics Limited, a biotechnology company, to provide broad access to the foundational CRISPR-Cas9 intellectual property, for access to the foundational CRISPR/Cas9 genome editing technology patents managed by ERS Genomics. CRISPR/Cas9 stands as a breakthrough gene editing technology, enabling modification of targeted genome sequences with ease. The technology is an essential tool in drug discovery research and finds application across various fields.
• In August 2023, CrisprBits, a India-based biotech startup specializing in CRISPR gene editing, and Molbio Diagnostics, a India-based point of care diagnostic solutions, collaborated to introduce CRISPR in point of care (POC) tests
• In January 2023, RegenOrthoSport, an orthopedic clinic in Mumbai, India, announced that it had received an approval from the National Ethics Committee Registry for Biomedical and Health Research (NECRBHR), under the Ministry of Health and Family Welfare for the use of Autologous Bone Marrow Aspirate Concentrate (BMAC) and Platelet Rich Plasma (PRP) on patients affected with musculoskeletal disorders
• In December 2022, Merck KGaA, a global healthcare company, partnered with Synplogen, a startup from Kobe University, Kobe, Japan, through a non-binding MoU. Their goal is to combine expertise for development, manufacturing testing of gene therapies in Japan
• In March 2021, Scribe Therapeutics Inc., a company specializing in molecular engineering and renowned for its cutting-edge CRISPR-based genetic medicine technologies, announced the successful closure of an oversubscribed Series B financing round, raising a remarkable US$ 100 million. This infusion of capital is earmarked for the continued advancement of Scribe Therapeutics Inc.'s tailored gene editing and delivery platforms, alongside the progression of a robust therapeutic pipeline targeting neurodegenerative disorders and other ailments characterized by significant unmet medical needs.

*Definition: Genome engineering, also known as genome editing, is a type of genetic engineering in which DNA is inserted, deleted, modified or replaced in the genome of a living organism. Unlike early genetic engineering techniques that randomly inserted genetic material, genome editing targets the insertions to site-specific locations

Market Segmentation

•  Technology Insights (Revenue, USD Bn, 2019 - 2031)
  • CRISPR
  • TALEN
  • ZFN
  • Others
•  Application Insights (Revenue, USD Bn, 2019 - 2031)
  • Cell Line Engineering
  • Genetic Engineering
•  End User Insights (Revenue, USD Bn, 2019 - 2031)
  • Biotechnology & Pharmaceutical Companies
  • Research Institutes
  • Contract Research Organizations
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • Thermo Fisher Scientific Inc.
  • CRISPR Therapeutics AG
  • Intellia Therapeutics, Inc.
  • Editas Medicine, Inc.
  • Sangamo Therapeutics, Inc.
  • Bluebird Bio, Inc.
  • Cellectis S.A.
  • Merck KGaA
  • New England Biolabs
  • Agilent Technologies, Inc.
  • Genscript
  • Synbio Technologies
  • Creative Biogene
  • Eurofins Scientific
  • Regeneron Pharmaceuticals Inc.