According to the Graphical Research new growth forecast report titled “Asia Pacific Gene Editing Market Size By Application (Cell Line Engineering, Animal Genetic Engineering, Plant Genetic Engineering), By Technology (CRISPR/Cas9, Zinc Finger Nucleases (ZFNs), TALENs), By End-user (Biotech and Pharma Companies, Contract Research Organizations (CROs), Research Institutes), Industry Analysis Report, Country Outlook (China, Japan, India, Australia, South Korea, Taiwan, Malaysia, Indonesia, Thailand)”, Estimated To Exceed USD 2.1 Billion By 2026.
Growing awareness regarding availability of genetically modified crops and animals in developing economies such as China will have a positive impact on the industry growth. BT crops have longer shelf life and supplementary nutritious aids and are therefore, chosen by majority of the population base residing in the urban areas. Also, growing Chinese population faces food insufficiency that raises the demand for GM vegetables and crops that ensures high demand for gene editing techniques utilized in producing bioengineered seeds. However, lack of public awareness regarding availability of genetically modified crops and animals in underdeveloped economies will restrain the market expansion.
The gene editing market, on the basis of application is segmented into plant genetic engineering, cell line engineering and animal genetic engineering among others. The cell line engineering segment witnessed more than 38% market share in 2019 and is estimated to rise at significant rate during the analysis period. Cell-line engineering has wide applications in stem cell research and helps in modifying the stem cell that results in rapid growth pluripotent stem cells (iPSCs) lines. Moreover, this technology is used for the production of novel antibodies for therapeutic applications and advances in cell line engineering making it more convenient to engineer the mammalian cells. Therefore, above-mentioned aspects will foster the overall segmental progression.
Based on technology, the industry is categorized into Zinc Finger Nucleases (ZFNs), TALENs, CRISPR/Cas9 and others. The CRISPR/Cas9 segment is projected to grow at around 15.5% CAGR over the forecast timeline. Technologically advanced gene editing techniques such as CRISPR will trigger its adoption in modifying the genome of plants and crops to increase the yield. Developing regions with large population base and limited food supply depend on genetically modified crops and high utilization of technologically advanced gene editing techniques will stimulate the segmental growth. Moreover, CRISPR technology unlike TALENs is inexpensive, simple and easy to use that further increases its overall adoption rate.
The gene editing market, based on end-user, is fragmented into biotech and pharma company’s research institutes, and contract research organizations among others. The research institutes segment accounted over USD 240 million revenue in 2019. Continuous demand and necessity for innovations in therapeutic applications to treat several genetic ailments will pave the way for substantial segmental progression. Additionally, rising government support and grants for research studies undertaken by various healthcare professionals and scientists have significantly driven the segmental growth.
India gene editing market accounted over 19.5% market share in 2019. Increasing per capita income has increased the demand for genetic testing. Growing adoption of innovative genetic tests and rising incidences of genetic disorders in India will ultimately boost the business growth. In addition, due to high birth rate in India, large number of infants are born with genetic disorders every year. Moreover, development of advanced healthcare infrastructure in India will create wide growth opportunities for market to expand.
Few of the leading market players working in industry include Thermo Fisher Scientific, EMD Millipore (Merck KGAa), Origene Technologies, Integrated DNA Technologies, Agilent Technologies, Takara Bio, CRISPR Therapeutics, Horizon Discovery Ltd and others. These business participants are undertaking various initiatives to deliver novel and innovative aspects of gene editing methods that will boost them to garner larger market share. For instance, in October 2018, Applied StemCell, Inc. announced that it has joined the National Institute of Standards and Technology Genome Editing Consortium for the advancement of therapeutic and drug discovery applications. This strategy aids geographic expansion of the company.
The above information is provided for the following region and countries:
- Asia Pacific
- South Korea