Richmond, Dec. 06, 2023 (GLOBE NEWSWIRE) -- According to a research report "Genome Editing Market, by Technology (Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR)/Cas9, Transcription Activator-Like Effector Nuclease (TALENs)/MegaTALs, Zinc Finger Nuclease (ZFN), Meganucleases and Others), Method (Ex-vivo and In-vivo), Application (Genetic Engineering (Cell line engineering, Animal genetic engineering, Plant genetic engineering and Others), Clinical Applications (Diagnostics, Therapy Development and Others), End-use (Biotechnology & pharmaceutical companies, Academic & government research institutes, Contract research organizations (CROs) and Others) and Region - Global Forecast to 2030.
Global Genome Editing Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 6.4 Billion |
| Market size value in 2030 | USD 24.0 Billion |
| CAGR (2023-2030) | 18.0% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Technology, Method, Application, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Genome Editing Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The genome editing market is anticipated to experience rapid growth soon, primarily driven by increased funding. Governments in various regions are expanding their financial support through grants to bolster genome editing research. In light of the advantages associated with genome editing, governments are sponsoring research in both public and commercial sectors, as well as academic institutes, to enhance efforts in genome editing and genetic engineering. The prevalence of cancer and other genetic illnesses, coupled with a rising preference for personalized medicine, is further fueling this growth. Factors contributing to the expansion include heightened research and development spending, growth in the biotechnology and pharmaceutical industries, increased investments from both the business and public sectors, and advancements in sequencing and genome editing technologies. The Genome Editing Market is propelled by the non-labeling of gene-edited products like GMOs and their applications in various drug development processes. Genome editing has demonstrated potential in addressing genetic abnormalities, infectious diseases, and cancer. Despite the benefits, concerns about the risks and ethical challenges associated with genome editing are on the rise, impacting the market.
Major Vendors in the Global Genome Editing Market:
- AstraZeneca
- Caribou Biosciences, Inc.
- Cellectis S.A.
- Cibus
- Recombinetics, Inc.
- CRISPR Therapeutics
- Editas Medicine
- Egenesis Inc.
- GenScript
- Horizon Discovery Group plc
- Integrated DNA Technologies, Inc.
- Intellia Therapeutics, Inc.
- Lonza
- Merck KGaA
- New England Biolabs
- OriGene Technologies, Inc.
- Precision Biosciences
- Sangamo
- Takara Bio USA
- Thermo Fisher Scientific, Inc.
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Increased incidence of genetic disorders
The surge in genetic disorders has led to an increased adoption of genome engineering for the treatment of chronic illnesses, contributing to market expansion. The market is driven by the early, precise, and rapid treatment of chronic and infectious diseases through transcriptome, genomic, or other multi-omics approaches. Additionally, the growth is supported by both private and government funding, advancements in CRISPR gene editing technology, and the increasing developments in gene therapy. The prevalence of chronic and infectious diseases such as HIV/AIDS, malaria, hepatitis, TB, and others has further fueled the utilization of genome editing in their treatment, leading to significant market growth in recent years.
Market Dynamics
Drivers:
- Increasing demand for personalized medicine
- Advancement of genome editing technologies
Opportunities:
- Development of new genome editing tools
- Increasing investment in genome editing research
Environmental Conservation by Enabling the Modification of Organisms
Environmental conservation through the modification of organisms in the genome editing market is emerging as a pivotal approach in addressing ecological challenges. By leveraging genome editing technologies, scientists and researchers are exploring innovative ways to enhance the resilience of various species and mitigate the impact of environmental stressors. This includes modifying the genetic makeup of plants and animals to make them more resistant to diseases, pests, and adverse environmental conditions. The application of genome editing in agriculture, for instance, allows for the development of crops with improved yield, reduced resource requirements, and enhanced adaptability to changing climates. Moreover, the targeted modification of organisms can contribute to biodiversity conservation by addressing threats to endangered species and ecosystems. The intersection of genome editing and environmental conservation represents a promising avenue for sustainable solutions to pressing environmental issues, fostering a harmonious balance between technological advancements and the preservation of our planet's biodiversity.
The market for Genome Editing is dominated by North America.
In 2022, North America emerged as the dominant force in the global market, boasting a significant market share, propelled by substantial investments in the research and development of gene editing technologies. The region is poised to sustain its leadership position over the forecasted period, thanks to the active participation of numerous biotechnology and pharmaceutical companies dedicated to advancing genome editing technologies. The United States, in particular, claimed the largest market share for genome editing technology in North America, driven by augmented government funding and support for scientific research and development. Major industry players like Editas Pharmaceuticals, Thermo Fisher Scientific, and CRISPR Therapeutics are expected to contribute to the continued growth of the market in this region, complemented by a rising tide of investment in genomic research.
On the other hand, the Asia Pacific region is poised to experience substantial growth, with China emerging as the primary market for genome editing technology. This surge is attributed to government initiatives that actively promote the advancement of genomic research. The Chinese market, in particular, is set for expansion due to the government's heightened emphasis on precision medicine and the presence of key players like BGI and Hebei Senlang Biotechnology. The region's overall genome editing market is primed for growth, driven by increased investments in research and development, a rising incidence of genetic diseases, and government programs supporting genomic research. These factors collectively indicate significant growth potential for the global genome editing market in the upcoming years.
The Ex-vivo Segment is Anticipated to Hold the Largest Market Share During the Forecast Period
Based on method the genome editing market is segmented into ex-vivo and in-vivo. Among these two, the ex-vivo delivery method segment emerged as the top revenue generator and is anticipated to exhibit a substantial Compound Annual Growth Rate (CAGR) from 2023 to 2030. This growth can be attributed to the inherent advantages of this method, specifically the ease of control in DNA modification. The increased utilization of ex-vivo delivery is propelled by the expanding clinical trial pipeline employing genome processing tools. The success of the Human Genome Project (HGP) has led to the discovery of nearly 7,000 new human genetic diseases, contributing to the significant impact of ex-vivo gene editing-based therapies like CAR-T. Moreover, the demand for clinically accurate editing tools and secure, targeted delivery systems for in vivo treatments, scalable to address the entire patient population, is a driving factor for the growth of this segment.
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