Emerging Trends and Innovations for the Genome Editing Market | projected to reach USD 24.0 Billion by 2030

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) & Region - Global Forecast to 2030.

Genome Editing Market was valued USD 6.4 Billion in 2023 and projected to reach USD 24.0 Billion by 2030, growing at a CAGR of 18.0% during the forecast period of 2023-2030.

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Browse in-depth TOC on Genome Editing Market

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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.

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

North America dominates the market for Genome Editing.

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.

Top Key Players covered in the market report:

• 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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Segmentations Analysis of Genome Editing Market: -

• By Technology
• By Method
• By Application
• End-use
• By Region

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