The global genome editing market is on the brink of a revolutionary expansion, with forecasts predicting its value will surge from USD 6.2 billion in 2024 to an astonishing USD 26.5 billion by 2034. This growth trajectory represents a remarkable compound annual growth rate (CAGR) of 15.7%.
A key driver of this market boom is the groundbreaking CRISPR-Cas9 genetic editing technology. This cutting-edge tool has revolutionized the field by providing unprecedented capabilities to correct or modify genes associated with various genetic disorders. CRISPR-Cas9’s precision and efficiency are opening new horizons in medical research and treatment, particularly in the fight against complex diseases.
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Genome editing’s potential in healthcare is profound. One of its most promising applications is in the development of innovative treatments for cancer. By enabling precise targeting and modification of cancer cells, genome editing techniques are poised to transform cancer therapy. This approach not only enhances the effectiveness of treatments but also facilitates the development of highly personalized therapeutic strategies, offering new hope to patients globally.
The anticipated growth of the genome editing market underscores the transformative impact of genetic research and its application in clinical settings. As the technology continues to advance, it promises to usher in an era of more effective and tailored treatments for a range of genetic and acquired conditions, fundamentally altering the landscape of modern medicine.
Key Takeaways from the Market Study:
- The mega nucleases 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.
“Increasing research and development studies and investments in gene therapies is 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).
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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.
Key Companies Profiled:
- Merck KGaA
- Cibus
- Recombinetics Inc.
- Sangamo
- Editas Medicine
- Precision Biosciences
- CRISPR Therapeutics
- Intellia Therapeutics Inc.
- Caribou Biosciences Inc.
- Cellectis S.A.
- AstraZeneca
- Takara Bio USA
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
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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