Gene therapy is defined as the addition of new genes to human cells. Recent developments in genome editing technologies has enabled a new pattern in which, the sequence of the human genome can be precisely manipulated to achieve a therapeutic effect. This includes correction of mutations that cause diseases, addition of therapeutic genes to specific sites in genome, and removal of deleterious genes or genome sequences. Rise in interest of pharmaceutical and biotechnology companies in the development of new and innovative treatments and increase in investments in genome research have led to an increase in genome research activities globally. Major advances in engineered nucleases, such as meganucleases, zinc finger nucleases (ZFNs), transcription activator-like effector-based nucleases (TALEN), and clustered regularly interspaced short palindromic repeats (CRISPRs), is likely to boost the demand for gene editing technology in the near future. Several factors, such as streamlined protocols, analysis flexibility, and well-designed outputs, make gene editing technology a highly adaptable tool for research and various other diagnostic testing applications. Gene editing technology uses the latest synthetic biology process which aims to engineer cells and organisms to perform novel functions, and ensures better functional ability of genetic or epigenetic variation. However, new developments in gene editing approaches, such as the use of TALEN-based genome engineering, are paving the way for early diagnosis and to modify defective genes. 

High prevalence of illnesses, such as neural disorders, cancers, and cardiovascular & genetic diseases, rise in patient awareness, and increase in research & development initiatives are expected to drive the global gene editing technology market. Furthermore, growing preference for personalized medicine for genetic disorders drives the global gene editing technology market. According to an article published in International Agency of Research and Cancer (IARC), in 2018, prevalence of cancer increased to 50% globally and is expected grow at a rapid pace in the next 20 years. Surge in number of pharmaceutical and biotechnology companies, increase in number of patients with neural and cancer diseases, and rise in awareness about improved therapeutics are anticipated to further fuel the global gene editing technology market. However, factors such as potential risk of genetically modified bugs that can modify person’s genome and his future genes are likely to hamper the global gene editing technology market. Additionally, negative public perception about genetic mutation is likely to hinder the adoption of genome editing technology during the forecast period 

The global gene editing technology market can be segmented based on application, technology, end-user, and region. In terms of application, the gene editing technology market can be classified into hematology, infectious diseases, oncology, muscular disorders, cell line engineering, animal genetic engineering, and others (diagnostics and therapeutics). Oncology and cell line engineering segments are expanding at a rapid pace owing to the increase in funding from governments and private organizations and rise in focus on stem cell research. Increase in awareness about stem cell therapies, globally, is projected to increase drug research application in near future. Based on technology, the gene editing technology market can be categorized into ZFNs, CRISPRs, meganucleases, TALENs, and others. In terms of end-user, the market can be segregated into biotechnology & pharmaceutical companies, academic & research institutes, contract research organizations (CROs). 

In terms of region, the global gene editing technology market can be segmented into North America, Europe, Asia Pacific, and Rest of World. North America dominates the global market due to the increase in funding for the development of research and health care infrastructures. Rise in incidence of cancer and surge in demand for early phase diagnosis and treatment of other chronic diseases are driving the biotechnology industry.  This, in turn, is expected to boost the gene editing technology market in North America. Europe accounts for a large share of the global gene editing technology market due to favorable government policies regarding the development of health care infrastructure and gene therapy methodologies established by the companies. Expansion of research & development units in the countries in Europe is also expected to drive the gene editing technology market in the region. The market in Asia Pacific is expected to expand at a moderate pace during the forecast period due to the rise in geriatric population and increase in health care services. The rise in health care services will support in establishing the research and development centers by key players, as well as increase in educating the population by raising awareness about gene analysis procedure. Additionally, economic growth in India and China is improving the health care infrastructure and supporting the expansion of pharmaceutical companies and biotech labs in these countries. This, in turn, is expected to drive the market in Asia Pacific. 

Major players operating in the global gene editing technology market include QIAGEN, Agilent Technologies, Editas Medicine, GE Healthcare Lonza, Recombinetics, Allele Biotech, Bio Rad, AstraZeneca, CRISPR Therapeutics, Dharmacon, Cellectis, SIGMA-Aldrich, and Thermo Fisher Scientific.

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