Genome Editing Market Analysis by Application (Cell Line Engineering, Genetic Engineering, Drug Discovery, Gene-modified Cell Therapy, Diagnostics, and Others); and by End User (Academics & Government Institutes, Biotechnology & Pharma Companies, and Hospitals) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035
Buy Now Report ID: 4807 | Published Date: Apr 11, 2023
The global genome editing market is estimated to garner a revenue of ~USD 70 billion by the end of 2035 by growing at a CAGR of ~21.20% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 7 billion in the year 2023. The market growth is mainly owing to the prevalence of cancer all over the world. According to the World Health Organization, about 10 million people died of cancer worldwide in 2020. The most common cancer deaths were 1.8 million for lung cancer, 916,000 for colon and rectal cancer, 830,000 for liver cancer, 769,000 for stomach cancer, and 685,000 for breast cancer. In addition, cancer-causing diseases such as human papillomavirus (HPV) and hepatitis have been found to cause approximately 30% of cancer cases in low- and middle-income countries.
In addition to this, continuous technological advancement in gene editing tools are a major factor driving the growth of the market. The availability of government funding and increasing number of genomics projects, as well as increasing prevalence of cancer and other genetic diseases are expected to boost the market growth. Moreover, the development of new CRISPR-based diagnostic tools to mitigate the negative impact of the COVID-19 pandemic is also boosting the growth of the genome editing market. The CRISPR-Cas9 technology dominated the industry in the year 2020, accounting for a revenue share of over 65% and is expected to account to nearly 70% by the year 2025. Conversely, the high cost of genome devices and growing concerns about the risks and ethical issues associated with genome editing are some of the constraints hindering the market growth to some extent. On the other hand, the presence of major players in emerging markets and applications in multiple drug discovery processes are just some of the factors that will create lucrative opportunities for the genome editing market in the near future.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~21.20% |
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Base Year Market Size (2023) |
~ USD 7 Billion |
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Forecast Year Market Size (2035) |
~ USD 70 Billion |
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Regional Scope |
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Growth Drivers
Rising Demand for Organ Transplants – Rising need for organ transplantation, supported by increasing prevalence of chronic diseases, is expected to boost the growth of the global genome editing market. Chronic diseases such as renal failure, cystic fibrosis, hepatitis, chronic kidney disease, and diabetes are associated with organ transplantation and consequent genome editing. A total of 166,579 transplants were performed in the year 2019, according to the Global Observatory on Donation and Transplantation.
Rise in Research Spending – Growth in the global market during the forecast period can be further attributed to increased investment in research and development activities to continuously find more viable solutions for genome editing. Research reports show that global R&D spending has more than tripled in real terms since 2000, rising from about USD 680 billion to more than USD 2.5 trillion in the year 2019.
Prevalence of Cancer Worldwide – In the year 2019, 18 million new cancer cases and 10 million cancer deaths were observed worldwide. Population growth and aging worldwide alone are expected to result in 27.5 million new cancer cases and 16.3 million cancer deaths.
Rising Health Expenditure – According to the latest spending data, global healthcare spending has increased over the past two decades, effectively doubling from 8.5% in 2000 to USD 8.5 trillion in the year 2019, increasing GDP reached 9.8%. This boom will continue during the forecast period.
Increasing Oncology Spending – The economic expenditure on cancer treatment and genome editing development is increasing year by year in various healthcare fields around the world. Global oncology spending in the year 2021 was found to be around USD 185 billion. For comparison, six years ago oncology spending was about USD 85 billion.
Challenges
The global genome editing market is segmented and analyzed for demand and supply by end user into academics & government institutes, biotechnology & pharma companies, and hospitals. Out of the three types of end users, the hospitals segment is estimated to gain the largest market share of about ~35% in the year 2035. The growth of the segment can be accredited to the presence of large number of patients in the healthcare industry, which is expanding notably. The hospitals are also growing rapidly in number. For instance, by the year 2022 there was noted to be approximately 6,100 hospitals in the United States. Hospitals provide a wide range of medical care. With genome editing as a major treatment plan for many diseases, the hospitals segment is going to rise arguably.
The global genome editing market is also segmented and analyzed for demand and supply by application into cell line engineering, genetic engineering, drug discovery, gene-modified cell therapy, diagnostics, and others. Amongst these six segments, the genetic engineering segment is expected to garner a significant share of around ~30% in the year 2035. The growth of the segment can be accredited to the Advancements in gene editing technologies. Recent advances in gene editing technologies, such as CRISPR-Cas9, have greatly increased the precision and efficiency of genetic engineering. This has opened up new possibilities for gene therapy, drug development, and agricultural applications. Personalized medicine involves the use of genetic information to tailor medical treatments to individual patients. As the demand for personalized medicine grows, so too does the need for genetic engineering technologies to enable the development of customized therapies. The biotechnology industry is experiencing significant growth, driven in part by the increasing demand for biosimilars (biologic drugs that are similar to existing drugs but manufactured by a different company). Genetic engineering is a critical component of the biotechnology industry, as it enables the development of new biologic drugs and the production of biosimilars. Hence, all these factors are expected to add to the segmental growth.
Our in-depth analysis of the global genome editing market includes the following segments:
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By Application |
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By End User |
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The genome editing market in the North America region, amongst the market in all the other regions, is projected to hold the largest market share of about ~35% by the end of 2035. The regional growth can majorly be attributed to the growing population and research activity, health insurance covering various cancer diagnoses and related genome editing. Rising economic status and affordability of advanced treatments for patients are estimated to boost the growth of the market in the region during the forecast period. According to the U.S. Bureau of Economic Analysis, personal income in the U.S. in August 2022 grew at a rate of 0.3% to reach USD 71.6 billion, while personal spending was observed to grow at a rate of 0.4% to reach USD 6.75 billion. In the United States, 1,752,735 new cancer cases were reported in 2019 and 599,589 people died from cancer. For every 100,000 people, 439 new cancer cases were reported and 146 people died of cancer. Moreover, the insurance companies in North America offer efficient reimbursement policies to the patients going through cancer treatment, which encourages the patients to opt for advanced treatment methods such as genome editing. Hence, this is also estimated to add to the regional market growth significantly.
The genome editing in the Asia Pacific region, amongst the market in all the other regions, is projected to hold the second largest share of about ~24% during the forecast period. The growth of the market in this region can primarily be attributed to the constantly growing aged population throughout the region. The elderly people are more prone to cancer diseases that require genome editing for their treatment. Asia Pacific's population is aging faster than any other region in the world. Among the total aged population of the world, Asia Pacific accounts for 60 per cent, or 630 million, that are 60 years of age or older. The geriatric population in the region is projected to reach 1.3 billion by the year 2050. Additionally, the government's role in raising awareness regarding the use of the genome editing is expected to boost the market growth in the region. Moreover, increasing number of cancer patients and deaths, increased funding for medical infrastructure is expected to affect the growth of the market in the region.
Further, the genome editing in the Europe region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. One of the key factors driving the growth of the genome editing market in Europe is the increasing focus on personalized medicine. Europe has a large population of individuals with genetic disorders, and there is growing interest in developing gene therapies and other personalized treatments to address these conditions. Gene editing technologies such as CRISPR-Cas9 and TALENs are playing a critical role in enabling the development of these treatments. Another factor driving the growth of the genome editing market in Europe is the increasing demand for biosimilars. The biotechnology industry is experiencing significant growth in Europe, driven by increasing demand for biosimilars (biologic drugs that are similar to existing drugs but manufactured by a different company). Gene editing is a critical component of the biotechnology industry, as it enables the development of new biologic drugs and the production of biosimilars. The increasing investment in the biotechnology industry is also contributing to the growth of the genome editing market in Europe. Several European countries, including Germany, France, and the UK, have established themselves as key players in the biotechnology industry, with significant investments being made in research and development of gene editing technologies.
Thermo Fisher Scientific announced the launch of its new Genome Editing Solutions portfolio, which includes a range of products and services designed to support gene editing research.
Merck KGaA announced that it had completed the acquisition of AmpTec, a company specializing in RNA technology.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: Increasing technological advancements in genome editing, and growing cancer prevalence are the major factors driving the market growth.
Ans: The market size of genome editing is anticipated to attain a CAGR of ~21.20% over the forecast period, i.e., 2023 – 2035.
Ans: The dearth of skilled professionals and ethical issues regarding genome editing are estimated to be the growth hindering factors for the market expansion.
Ans: The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are Thermo Fisher Scientific, Merck KGaA, Horizon Discovery Group, Lonza Group AG, Integrated DNA Technologies (IDT), and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by application, end user, and by region.
Ans: The hospitals segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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