Genome Editing Market to Grow with a CAGR of 6.45% through 2028
Increased Funding and Investments and
Research and Academic Exploration are factors driving the Global Genome Editing
Market in the forecast period 2024-2028.
According to TechSci Research report, “Genome
Editing Market – Global Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”, the Global Genome Editing Market stood at USD 5.08
Billion in 2022 and is anticipated to grow with a CAGR of 6.45% in the forecast
period, 2024-2028.
The Genome Editing Market is rapidly advancing, reshaping genetic research,
therapeutic development, and personalized medicine. It involves precise DNA
modification, with CRISPR-Cas9 driving transformative therapeutic potential.
This groundbreaking technology allows targeted correction of genetic mutations
linked to various diseases. Increasing research and collaborations drive
technological progress, with innovations like CRISPR-Cas12 and Cas13 addressing
limitations. Beyond therapeutics, genome editing plays a vital role in
agriculture, creating genetically modified crops for improved yield and
sustainability. The market's expansion is propelled by a quest for efficient
tools and diversified applications, positioning genome editing as a cornerstone
in biotechnological evolution across medical and agricultural domains.
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Beyond therapeutics and agriculture, the
Genome Editing Market experiences growing demand for research purposes. The
technology empowers scientists to engineer genetically modified organisms,
unravel gene functions, and explore genetic pathways. Academic and research
institutions increasingly integrate genome editing tools, driving market
growth. However, ethical and regulatory challenges loom large. Editing the
human germline, with potential hereditary impacts, prompts ethical concerns and
discussions on responsible use. Evolving regulatory frameworks aim to address
these ethical considerations, ensuring the secure and ethical application of
genome editing technologies in research, underscoring the need for responsible
and transparent development in this rapidly advancing field.
The Global Genome Editing Market is segmented into technology,
delivery method, application, region, and company.
Based on technology, CRISPR (Clustered Regularly
Interspaced Short Palindromic Repeats) stands out as the fastest-growing
segment in the Genome Editing Market due to its revolutionary precision and
versatility. CRISPR-Cas9, in particular, has transformed the landscape of
genetic modification. Its simplicity and efficiency allow researchers to target
specific genes accurately, driving rapid adoption across various applications.
The continuous evolution of CRISPR technologies, including variations like
Cas12 and Cas13, enhances its capabilities, addressing limitations and
expanding its potential applications. The widespread use of CRISPR in
therapeutic interventions, agricultural biotechnology, and research positions
it as the dominant and fastest-growing segment, propelling the Genome Editing
Market's exponential growth.
Based on region
The
Asia-Pacific region emerges as the fastest-growing segment in the Genome
Editing Market, fueled by a confluence of factors. Increasing investment in
biotechnology, rising research activities, and a growing emphasis on genetic
research and healthcare solutions contribute to the market's rapid expansion.
The region's advancing healthcare infrastructure, coupled with supportive
government initiatives, accelerates the adoption of genome editing
technologies. Moreover, the burgeoning population and rising awareness of
personalized medicine drive demand. Strategic collaborations and partnerships
with global biotech players further enhance the region's prominence. As
Asia-Pacific becomes a hub for biotechnological innovation, the Genome Editing
Market experiences unparalleled growth dynamics.
Major companies operating in Global Genome
Editing Market are:
- Cibus Inc
- Recombinetics, Inc
- Merck & Co., Inc
- Sangamo Therapeutics Inc
- Editas Medicine Inc
- Precision BioSciences Inc
- CRISPR Therapeutics Inc
- Intellia Therapeutics, Inc
- Caribou Biosciences, Inc
- Takara Bio Inc
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“The future of the Genome Editing Market is poised for
groundbreaking advancements across diverse domains. In therapeutics, precision
medicine and personalized treatments will flourish, addressing genetic
disorders and enhancing patient outcomes. Agricultural biotechnology will
witness the widespread adoption of genetically modified crops for sustainable
food production. Research applications will continue to expand, unraveling
intricate genetic pathways. However, ethical considerations and evolving
regulatory frameworks will shape responsible genome editing practices. Ongoing
technological innovations, such as base editing, prime editing, and enhanced
delivery systems, will redefine possibilities. With a focus on ethical and
responsible use, the Genome Editing Market holds immense potential to
revolutionize science, medicine, and agriculture.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Genome Editing Market By
Technology (Crispr, Zfn, Talen), By Delivery Method (Ex-vivo, In-vivo), By
Application (Genetic Engineering, Clinical Applications), By Region, By Competition Forecast &
Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Genome Editing Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Genome Editing
Market.
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