Wilmington, Delaware, United States, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global genome editing market was projected to attain US$ 5.5 billion in 2022. It is anticipated to garner a 13.9% CAGR from 2023 to 2031 and by 2031, the market is likely to attain US$ 17.5 billion by 2031. Genome editing is a groundbreaking approach that allows scientists to precisely modify an organism's DNA, adding, deleting, or changing certain genetic components. Its uses are many, ranging from agriculture to medicine and biotechnology.
In agriculture, genome editing may be used to develop crops with better features such as pest and disease resistance, increased yield, and higher nutritional value. In medicine, genome editing has the potential to heal genetic illnesses by repairing or replacing defective genes.
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The CRISPR-Cas9 system, a revolutionary genome-editing technology, has greatly advanced research in this field. The approach has been continuously refined, resulting in improved accuracy and less off-target impacts.
Global Genome Editing Market: Key Players
To increase their footprint and capture a sizable portion of the market, the key companies offer new products, collaborate strategically, and engage in mergers and acquisitions. The following companies are well-known participants in the global genome editing market:
- Merck KGaA
- AstraZeneca
- Takara Bio Inc.
- Cellectis SA
- CRISPR Therapeutics.
- Cibus Inc.
- RECOMBINETICS
- Sangamo Therapeutics
- Thermo Fisher Scientific Inc.
Key developments by the players in this market are:
- In 2022, Rewrite Therapeutics, Inc., a private biotechnology company focused on advancing novel DNA writing technologies, was acquired by Intellia Therapeutics, Inc. It is a clinical-stage genome editing company focused on developing curative therapeutics leveraging CRISPR-based technologies. Adeno-associated virus (AAV) vectors and Intellia's lipid nanoparticle (LNP) technology will be used to deploy Rewrite's technology.
- Precision BioSciences, Inc. and Eli Lilly and Company announced in November 2020 that they would be collaborating on research and that they would be granted an exclusive license to use Precision's proprietary ARCUS genome editing platform for the development of potential in vivo therapies for genetic disorders. The initial focus of the collaboration would be on Duchenne muscular dystrophy (DMD) and two other undisclosed gene targets.
Key Findings of the Market Report
- Genetic illnesses, which are frequently inherited, pose a serious and expanding global health concern.
- The market for genome editing is expanding as a result of the extraordinary demand for innovative therapeutic treatments brought on by the rise in hereditary illnesses.
- Since genetic illnesses emerge with various genetic variants in afflicted people, a one-size-fits-all strategy to therapy is ineffective.
- Personalized medicine is based on the idea that precision enables customized treatment plans.
- With the use of precise tools for modifying the genetic code, genome editing technologies like CRISPR-Cas9, TALENs, and zinc finger nucleases enable researchers and medical professionals to alter or fix certain genes linked to disease.
- Furthermore, there is a rise in research and development efforts in the genome editing sector with the goal of tackling particular genetic defects linked to a range of illnesses.
Market Trends for Genome Editing
- Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR), Transcription Activator-like Effector Nuclease (TALEN), Zinc Finger Nuclease (ZFN), and other technologies are included in the genome editing market segmentation based on technology.
- CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) is the industry leader in genome editing thanks to its ease of use, adaptability, and affordability.
- Since CRISPR provides a more approachable method, a larger scientific community may accept and apply genome editing techniques.
- By merely changing the guide RNA, CRISPR enables researchers to swiftly adapt and target new genes.
- Research and development in a variety of disciplines, including agriculture and medical, move more quickly as a result of this flexibility.
Global Market for Genome Editing: Regional Outlook
- North America is presently in a leading position due to its advanced infrastructure for technology, firmly established healthcare system, and active research and development.
- Significant expenditures in genomic research, a focus on biotechnological developments, and a high incidence of genetic illnesses all contribute to the regional unique market dynamics. Another factor contributing to North America's supremacy is the existence of significant market players, academic institutions, and biotech companies focused on genome editing technology.
- The market for technology related to genome editing is growing in Asia Pacific. Advanced genetic techniques and medicines are in high demand due to the region's growing population, increased emphasis on precision healthcare, and surge in personalized medicine awareness and acceptance. Numerous knowledgeable experts and researchers encourage creativity and breakthroughs in genome editing in this region.
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Global Genome Editing Market Segmentation
Technology
- Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR)
- Transcription Activator-like Effector Nuclease (TALEN)
- Zinc Finger Nuclease (ZFN)
- Other Technologies
Application
- Cell Line Editing
- Animal Genome Editing
- Plant Genome Editing
- Others
End User
- Pharmaceutical Companies and Biotechnology Companies
- Academics and Government Research Institutes
- Clinical Research Organizations
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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