Genome engineering market is estimated to be valued at USD 6.71 Bn in 2024, and is expected to exhibit a CAGR of 14.5% over the forecast period (2024-2031). Genome engineering techniques are advancing rapidly with the development of new tools to target DNA such as programmable nucleases which allow introducing targeted changes to the genome. Furthermore, growing investments from private and public organizations in genome engineering activities to generate genetically modified organisms is expected to drive the market growth.
Market Dynamics:
Technological innovations in genome engineering tools and increasing R&D spending on synthetic biology are expected to drive the global genome engineering market growth over the forecast period. Rising investments from both private and public organizations in developing genetically modified crops and cell lines boosts the adoption of genome engineering techniques. For instance, Ginkgo Bioworks, a U.S.-based biotech company, raised over US$ 350 million in 2021 to develop genetically engineered organisms for applications in therapeutics, food ingredients and others.
Growing prevalence of cancer and other genetic disorders boosts adoption of genome engineering techniques
One of the main drivers for the growth of global genome engineering market is rising prevalence of cancer and genetic disorders around the world. Genome engineering offers promising new treatment approaches for these conditions by allowing direct manipulation of genes. CRISPR-Cas9 technology in particular has opened up new possibilities for correcting genetic mutations and developing novel tumor-targeting therapies. As more advanced clinical trials demonstrate the effectiveness of genome editing in destroying cancer cells and modifying DNA to treat genetic diseases, its adoption is expected to increase significantly. Biotech and pharmaceutical companies are investing heavily in developing genome engineering therapies with the potential to transform patient outcomes and generate substantial revenue.
Increasing investment in stem cell research and regenerative medicine
Another key factor propelling the genome engineering market growth is growing investment in stem cell research and regenerative medicine applications. Genome editing tools like CRISPR allow scientists to precisely modify stem cells for applications like developing disease models, screening drug candidates, and eventually engineering tissues and organs for transplantation. Both private firms and government research institutes are funding large genome editing projects focused on utilizing stem cells to treat conditions like heart disease, diabetes, spinal cord injuries and more. As regenerative therapies start moving into clinical trials and the market slowly matures, it will create sustained demand for advanced genome engineering technologies to derive customized stem cell lines and engineered tissues.
High costs and technical challenges
One of the main restraints hampering the growth of the genome engineering market is high costs associated with research and development. Developing novel genome editing tools, conducting extensive preclinical and clinical testing, setting up production facilities and gaining regulatory approvals requires massive investments. The technologies are also technically challenging to apply accurately and at scale. Off-target effects continue to pose a major hurdle, limiting therapeutic applications. Overcoming these technical challenges and bringing down costs through automation, standardization and economies of scale will be crucial for the industry to fulfill its commercial potential.
Ethical and legal concerns surrounding genome editing applications
Ethical debates and uncertainty around regulations can hamper the market growth. While most view gene therapies for medical applications favorably, human genome editing evokes deeper ethical concerns around altering germline cells and the implications for future generations. Strict regulations in many countries prohibit making heritable genetic modifications to human embryos or reproductive cells. Addressing ethical concerns through open public dialogue and formulating progressive yet prudent regulation can help assure safety while enabling beneficial innovation. However, navigating these complex issues takes time and resources.
Growing CRISPR adoption in drug discovery and bioproduction
One significant market opportunity lies in utilizing CRISPR and other genome engineering tools to accelerate drug discovery and biomanufacturing applications. In the pharmaceutical industry, CRISPR provides a way to generate isogenic cell lines for target identification and validation. It can precisely knock out genes to study mechanisms of disease or drug effects. Additionally, genome editing makes it possible to design cell lines for the multibillion-dollar biologics production industry, which requires greater and more reliable yields. It is anticipated that CRISPR use in the pharmaceutical business would soar as these techniques develop and prove their superiority over conventional approaches, propelling revenue growth for genome engineering firms.
*Link: https://www.coherentmarketinsights.com/market-insight/genome-engineering-market-1262
Key Development
- 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 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 launch CRISPR in point of care (POC) tests
- In December 2022, Merck KGaA, a global healthcare company, partnered with Synplogen, a startup from Kobe University, through a non-binding MoU. Their goal is to combine expertise for development, manufacturing testing of gene therapies of gene therapies in Japan. In January 2023, RegenOrthoSport, an orthopedic clinic, in Mumbai, Maharashtra, 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
Key Players: 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.
