Genome editing is widely used by pharmaceutical companies, biotechnology companies, and academic & government research institutes. The pharmaceutical companies segment accounted for the majority revenue share in the global market in 2020. The increasing use of gene-editing technology in pharmaceutical research & development activities is a major factor driving revenue growth of this segment.
Based on regional analysis, North America is expected to account for the largest revenue share over the forecast period. Major revenue growth contributors in this region are the United States and Canada. Factors such as rapid advancement in genome editing technologies, high demand for genetically modified crops, and increasing focus on R&D activities associated with gene therapy are expected to drive revenue growth of the market in this region.
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Some Key Factors Contributing to the Global Pharma & Healthcare Market Growth
Unprecedented revenue growth of the global pharma & healthcare industry is attributed to factors such as the rising prevalence of chronic and acute diseases worldwide, increasing geriatric population, rising awareness of health & wellness among consumers, and growing demand for more advanced healthcare services. Increasing demand for advanced drugs and therapeutics, growing availability of next-generation diagnostics and treatment options – especially in developing countries like India and China – rise in R&D activities and clinical trials in the pharmaceutical and biotechnology sectors, increasing public and private investments in healthcare research projects, and rising consumer expenditure on healthcare are among the other significant factors contributing to the industry revenue growth.
Some Key Highlights From the Report:
In December 2019, Horizon Discovery Group launched its predesigned synthetic Single Guide RNA (sgRNA). It would enable researchers to obtain reliable gene knockouts in difficult-to-edit, complex cell types, and experimental models.
Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) segment accounted for the largest revenue share in the global market in 2020. CRISPR has various advantages such as ease of use, enhanced efficacy, and cost-effectiveness. Therefore, it is extensively used by researchers in gene alteration processes.
Asia Pacific accounted for a 23.4% revenue share in the global market in 2020 and is expected to register the fastest revenue CAGR compared to other regional markets over the forecast period. This can be attributed to the rising prevalence of various infectious diseases.
Top Players in the Global Gene Editing Market:
Thermo Fisher Scientific, Merck & Co, Horizon Discovery Limited, Lonza, GenScript, Eurofins Scientific, Precision Biosciences, Oxford Genetics, Intellia Therapeutics, and Sangamo Therapeutics.
The coronavirus pandemic has had a drastic impact on the global healthcare industry, with rising cases of COVID-19 worldwide, substantially growing hospital admission and readmission rates, and rising demand for telehealth and telemedicine services for remote patient monitoring. Furthermore, rising focus on the development of rapid COVID-19 diagnostics such as the RT-PCR test kits, increased government funding for vaccine development, stringent regulatory norms and protocols for COVID-19 safety, and increasing sales of COVID-19 safety equipment, such as N-95 masks, face shields, PPE kits, and hand sanitizers, have driven the global pharma & healthcare industry revenue growth over the recent past.
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Gene Editing Market Segmentation:
Technology Outlook (Revenue, USD Billion; 2019-2030)
Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR)
Zinc-finger Nucleases (ZFNs)
Transcription Activator-like Effector Nucleases (TALEN)
Antisense
Others
Product and Service Outlook (Revenue, USD Billion; 2019-2030)
Software & Systems
Reagents & Consumables
Services
Application Outlook (Revenue, USD Billion; 2019-2030)
Cell Line Engineering
Diagnostic Applications
Genetic Engineering
Drug Discovery & Development
Others
End-Use Outlook (Revenue, USD Billion; 2019-2030)
Pharmaceutical Companies
Biotechnology Companies
Academic & Government Research Institutes
Global Gene Editing Market Report:Regional Segmentation
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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Frequently Asked Questions Answered in the Report:
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