Market Overview

Genomic engineering is the synthetic assembly of complete chromosomal DNA that is more or less derived from natural genomic sequences.

The global genome editing/genome engineering market is projected to USD 11.7 billion by 2026 from USD 5.1 billion in 2021, at a CAGR of 18.2 % between 2021 and 2028.

Recent improvements in this field have led to significant developments in the genome editing capabilities and it has enabled the modification of gene sequences of interest in a wide variety of cell types and model organisms and the shift from academics to clinical and diagnostic laboratories is primarily driven by improvements in gene editing technologies are some of the factors that have supported long-term expansion for Genome Editing/Genome Engineering Market.

The COVID-19 pandemic has prompted key pharmaceutical and biotechnology companies, as well as players in the genomic market, to invest in vaccine R&D. The rise in demand for vaccines and potential antiviral candidates has brought genome editing/engineering technologies to the forefront.

Regional Analysis

North America accounted for the largest share of this market, followed by Europe in 2020. The key factors helping in the growth of the market in North America include the development of gene therapy, increased use of GM crops, and a rise in the availability of research grants and funding in the US. The market in Canada is expected to witness growth in the coming years owing to various government initiatives and the intensification of genomics R&D (through GAPP) in the country.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• Thermo Fisher Scientific Inc.
•  Merck KGaA
•  GenScript

Recent Developments

• In October 2021, Merck KGaA licensed its patented CRISPR-Cas9 technology to Cellecta for the development of next-generation treatments, which has allowed researchers and scientists to advance treatments for genetic blood disorders, cancers, and ophthalmological diseases.
• In May 2019, Thermo Fisher Scientific acquired Brammer Bio to increase its global presence in the market with the addition of the expertise of Brammer Bio in the manufacturing of vectors for genes and cell therapies.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
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• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope