The gene editing market consists of sales of gene editing technology such as CRISPR/CAS9, zinc finger nucleus, and talens and related services. Gene editing technology allows genetic material to change genetic code at particular location in a genome. It involves cell line engineering, animal genetic engineering and plant genetic engineering.
The global gene editing market is expected to grow from $4.1 billion in 2019 to $4.8 billion in 2020 at a compound annual growth rate (CAGR) of 18.2%. The growth of this market is mainly due to its deployment in discovering drugs which could be potential in treating COVID 19. Gene editing can be used to provide with precision medicine for the patients suffering through chronic diseases. The market is then expected to recover and grow at a CAGR of 14.8% from 2021 and reach $7.2 billion in 2023.
