Genome Editing Market size is set to grow by USD 7.23 billion from 2024-2028, Rapid technological advancements in … – PR Newswire

NEW YORK, May 22, 2024 /PRNewswire/ -- The globalgenome editing marketsize is estimated to grow by USD 7.23 billionfrom 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost15.88% during the forecast period.

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Genome Editing Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 - 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 15.88%

Market growth 2024-2028

USD 7.23 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

14.56

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 40%

Key countries

US, Canada, UK, Germany, and China

Key companies profiled

AstraZeneca PLC, Caribou Biosciences Inc., Cellectis SA, Cibus, Danaher Corp., Editas Medicine Inc., Egenesis, GenScript Biotech Corp., Horizon Discovery Ltd., Intellia Therapeutics Inc., Lonza Group Ltd., Merck KGaA, New England Biolabs Inc., OriGene Technologies Inc., PerkinElmer Inc, Precision BioSciences Inc., Sangamo Therapeutics Inc., Takara Bio Inc., Tecan Trading AG, and Thermo Fisher Scientific Inc.

Market Driver

Advancements in genome editing technologies like CRISPR-Cas9 and base editing offer precise modifications to DNA, expanding research and therapy applications. High-throughput screening methods accelerate discovery of gene functions and drug targets.

Automation streamlines workflows, reducing errors and increasing efficiency in large-scale experiments. Bioinformatics tools optimize editing protocols and assess outcomes, enhancing reliability and safety. These advancements drive growth in the global genome editing market.

MarketChallenges

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Segment Overview

1.1Pharmaceutical and biotechnology companies-During the forecast period, the pharmaceutical and biotechnology companies segment is expected to experience significant market share growth. Genome exploration enables researchers to study gene function and disease mechanisms, aiding drug discovery and personalized medicine. By inducing genetic mutations in target genes, scientists gain insights into disease biology and drug responses.

The segment, valued at USD 1.86 billion in 2018, benefits from genome-edited models for preclinical drug screening and personalized therapy development, improving treatment outcomes. CRISPR/Cas9 technology drives genetic engineering advancements, offering versatile applications in therapy development and research. Pharmaceutical and biotech firms increasingly adopt gene editing tools for drug discovery and viral vector production, fueling market expansion.

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Research Analysis

The genome editing market encompasses the development and application of advanced tools and technologies for modifying single genes within an organism's genome. These innovations hold significant promise in addressing various genetic abnormalities, including sickle cell disease, Parkinson's disease, hearing loss, and others. Gene-editing technologies, such as CRISPR-Cas9, SMR, Pro-code, and others, are revolutionizing molecular biology by enabling precise alterations to DNA strands.

Clinical trials are underway for numerous conditions, including AIDS, cancer, cystic fibrosis (CF), hemophilia, sickle cell disease, multiple myeloma, and breast cancer. Gene therapy and gene editing are expected to bring transformative treatments for tumors and other diseases. Key applications include agriculture, particularly in white button mushrooms, and industrial biotechnology.

Market Research Overview

The Genome Editing Market refers to the industry focused on developing and implementing technologies that enable the precise modification of an organism's DNA. This innovative field combines the use of tools like CRISPR-Cas9, zinc finger nucleases, and TALENs to target specific genes and make desired changes. Genome editing holds significant potential in various sectors, including agriculture, medicine, and research.

Its applications range from creating disease-resistant crops to treating genetic disorders and enhancing protein production. The technology's versatility and potential to revolutionize numerous industries continue to drive its growth and global interest.

Table of Contents:

1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation

7Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email:[emailprotected] Website:www.technavio.com/

SOURCE Technavio

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Genome Editing Market size is set to grow by USD 7.23 billion from 2024-2028, Rapid technological advancements in ... - PR Newswire