A high demand for genome editing is expected in the United States. A CAGR of 15.9% is forecast for the market during the period. Technology advancements and an expanding hospital infrastructure are expected to increase the demand for genome editing in the United States.
NEWARK, Del, Feb. 27, 2024 (GLOBE NEWSWIRE) — The genome editing market is predicted to reach US$ 6.2 billion by 2024. The market size is expected to reach US$ 26.5 billion by 2034, projected at a CAGR of 15.7%. The CRISPR-Cas9 genetic editing technology opens up the possibility of correcting or modifying genes that cause genetic disorders. A potential breakthrough in treating cancer may be possible with the use of genome editing, which enables the targeting and modification of cancer cells.
With genome editing, crops can be developed that produce more, are more resistant to pests, and have higher nutritional values. A healthier and more productive livestock can be produced by editing its genome.
The genome editing process facilitates identifying and validating potential drug targets, which facilitates the discovery and development of new drugs. A more effective and targeted drug can be developed through improved methods for editing cell lines.
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As genome-editing technologies have evolved in recent years, investigators have been able to rapidly and economically modify a variety of species’ genomes with sequence-specific modifications. Scientists can conduct gene editing experiments and studies using CRISPR-based research tools. Researchers and biotech companies can use these companies to edit genomes custom-made for their needs.
Genetic diseases and predispositions can be detected using genome editing technologies. A personalized treatment plan based on an individual’s genetic profile can be developed as a result of advances in genome editing. In the past two decades, genome editing has revolutionized the field of biomedicine through its robust editing technology.
Various disease-resistance models can be generated using it at the genetic level to unravel the mechanisms of human disease. The program develops a powerful tool for creating genetically modified organisms that can be used for treating and preventing diseases.
Licensing genome editing technologies can generate revenue for companies with strong intellectual property portfolios. Through genome editing, tissues and organs can be engineered for transplantation in regenerative medicine.
“Increasing research and development studies and investments in gene therapies are expected to drive demand for genome editing. A new generation of technologies and innovative tools will drive the market,” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
Key Takeaways from the Market Study:
- The meganucleases segment is projected to expand at 15.6% CAGR by 2034.
- The United States is estimated to register at a CAGR of 15.9% by 2034.
- Between 2019 and 2023, Japan’s market experienced a 21.9% CAGR.
- China is experiencing rapid growth, predicted at a CAGR of 16.2% by 2034.
- The ex-vivo segment is anticipated to expand at 15.3% CAGR by 2034.
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Genome Editing Market Report Scope:
| Attributes | Details | ||
| Estimated Market Size in 2024 | US$ 6.2 billion | ||
| Projected Market Valuation in 2034 | US$ 26.5 billion | ||
| Value-based CAGR 2024 to 2034 | 15.7% | ||
| Forecast Period | 2024 to 2034 | ||
| Historical Data Available for | 2019 to 2023 | ||
| Market Analysis | Value in US$ billion | ||
| Key Regions Covered |
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| Key Market Segments Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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Competitive Landscape:
Global and regional players dominate the genome editing market. The companies focus on developing tools, innovative technologies, and marketing strategies to attract consumers and increase market share.
Globally, the leading players are focusing their investments on the development of new tools for genome engineering to address the increasing demand for research. The research area in genomics is expected to develop rapidly due to the rapid advancement of several molecular techniques.
Some of the key developments are:
- In February 2022, Intellia Therapeutics, Inc. and Regeneron Pharmaceuticals, Inc. reported positive interim results from their ongoing Phase 1 clinical study of NTLA-2001, an in vivo genome editing candidate slated to treat transthyretin (ATTR) amyloidosis.
Genome Editing – Key Segments:
By Technology:
- Meganucleases
- CRISPR/Cas9
- TALENs/MegaTALs
- ZFN
- Others
By Delivery:
- Ex-vivo
- In-vivo
By Mode:
- Contract
- In-house
By End User:
- Biotechnology & Pharmaceutical Companies
- Academic & Government Research Institutes
- Contract Research Organizations
By Application:
- Genetic Engineering
- Cell Line Engineering
- Animal Genetic Engineering
- Plant Genetic Engineering
- Others
- Clinical Applications
- Diagnostics
- Therapy Development
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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