Dublin, June 27, 2024 (GLOBE NEWSWIRE) -- The "Genome Editing Technologies Market Report 2024-2034" has been added to ResearchAndMarkets.com's offering.
World revenue for the Genome Editing Technologies Market is set to surpass US$6.3 billion in 2024, with strong revenue growth through to 2034.
Emerging economies such as China, India, South Africa, Mexico, Singapore, Brazil, Russia, South Korea, Indonesia, and Turkey are becoming significant players in the genome editing technologies industry. China, in particular, has made substantial investments and advancements in genome editing, propelling the nation to the forefront of global research and application. Institutions like BGI Genomics and Huada Genomics Institute are leading efforts in CRISPR-Cas9 technology, achieving breakthroughs in human health and significant strides in agriculture.
These advancements address critical issues such as food security and sustainability, presenting a significant long-term growth opportunity for life science research in the Chinese market. The country's spending on R&D surpassed US$458.5 billion in 2023, an 8.1% increase from the previous year, reflecting rising health demands from an aging population.
India and Brazil are also making notable progress in genome editing technologies. India, with its vast population and burgeoning biotechnology sector, has companies like Rasi Seeds and MedGenome spearheading research in crop improvement and personalized medicine. This focus on healthcare and agriculture highlights India's commitment to leveraging genome editing for societal benefit. Similarly, Brazil is recognizing the potential of genome editing to address its healthcare and agricultural challenges. Institutions like Embrapa and companies like Recepta Biopharma are actively developing novel therapies and crop varieties tailored to the country's needs, driving advancements in precision medicine and agricultural productivity. These efforts position Brazil as a key player in the global genome editing landscape.
Off-target Effects of CRISPR Technology Likely to Challenge Industry Growth
One major limitation of gene editing technology is the off-target effects of CRISPR-Cas9. While CRISPR can target specific genes with high precision, it can also cause unintended alterations at other sites in the genome. These off-target effects present risks and challenges, making it essential to ensure precise targeting to avoid unwanted changes and adverse outcomes. Researchers are improving CRISPR procedures to increase specificity and reduce off-target effects through advancements in guide RNA design, high-fidelity Cas9 variants, and bioinformatics tools.
Off-target effects pose significant concerns for the safety and efficacy of genome editing treatments, impeding market demand. Unintended genetic changes can lead to harmful side effects, potentially introducing new mutations or exacerbating existing conditions. Regulatory scrutiny and public perception further hinder market growth. Regulators, like the FDA, require rigorous testing to ensure safety, which is time-consuming and costly. Public skepticism about the risks of off-target effects can also deter patients from seeking genome editing treatments. To address these challenges, researchers are developing new tools and techniques to enhance CRISPR precision and mitigate off-target effects, aiming to boost confidence and demand in the market.
Key Questions Answered
- How is the genome editing technologies market evolving?
- What is driving and restraining the genome editing technologies market?
- How will each genome editing technologies submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2034?
- How will the market shares for each genome editing technologies submarket develop from 2024 to 2034?
- What will be the main driver for the overall market from 2024 to 2034?
- Will leading genome editing technologies markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
- How will the market shares of the national markets change by 2034 and which geographical region will lead the market in 2034?
- Who are the leading players and what are their prospects over the forecast period?
- What are the genome editing technologies projects for these leading companies?
- How will the industry evolve during the period between 2024 and 2034? What are the implications of genome editing technologies projects taking place now and over the next 10 years?
- Is there a greater need for product commercialisation to further scale the genome editing technologies market?
- Where is the genome editing technologies market heading and how can you ensure you are at the forefront of the market?
- What are the best investment options for new product and service lines?
- What are the key prospects for moving companies into a new growth path and C-suite?
Key Market Dynamics
Market Driving Factors
- Rising Number of Genomic Projects Coupled with the Government Funding
- Rising Adoption of Genome Editing Technologies
- Rising Burden of Chronic Diseases
- Increasing Applications of Genomics for Medicine, Agriculture, and Biotechnology
Market Restraining Factors
- Off-target Effects of CRISPR Technology
- High Cost of Genome Editing Technologies
- Regulatory Hurdles for Genome Editing Technology Application
Market Opportunities
- Rising Demand for Genome Editing Technology in Emerging Economies
- Strong Product Pipeline with Genome Editing Technology
- Collaboration and Partnerships among Genome Editing Technologies Companies
Segments Covered in the Report
Technology
- CRISPR
- TALEN
- ZFN
- Meganucleases
- Others
Application
- Genetic Engineering
- Cell Line Engineering
- Animal Genetic Engineering
- Plant Genetic Engineering
- Others
- Drug Discovery & Development
- Diagnostic Applications
End-users
- Biotechnology Companies
- Pharmaceutical Companies
- Academic & Government Research Institutes
- Other End-users
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 22 leading national markets.
The report also includes profiles and for some of the leading companies in the Genome Editing Technologies Market, with a focus on this segment of these companies' operations.
Leading companies profiled in the report
- Agilent Technologies
- Caribou Biosciences
- Cellectis
- Cibus
- CRISPR Therapeutics
- Danaher Corporation
- Editas Medicine
- GenScript
- Intellia Therapeutics
- Lonza
- Merck
- Precision Biosciences
- Recombinetics
- Revvity
- Sangamo Therapeutics
- Takara Bio
- Tecan Trading
- Thermo Fisher Scientific
For more information about this report visit https://www.researchandmarkets.com/r/xffbh5
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