Dublin, Oct. 24, 2024 (GLOBE NEWSWIRE) -- The "Genome Editing / Genome Engineering - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Genome Editing / Genome Engineering was estimated at US$10.7 Billion in 2023 and is projected to reach US$37.2 Billion by 2030, growing at a CAGR of 19.4% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Several key factors are driving the rapid growth of the genome editing market, including increasing investment in biotechnology, the rising prevalence of genetic diseases, and advancements in genome editing technologies like CRISPR. First, the surge in investment from both the private and public sectors is significantly contributing to the growth of the genome editing market. Pharmaceutical companies, venture capital firms, and government agencies are pouring funds into genome editing research, recognizing its potential to revolutionize medicine, agriculture, and industry. This influx of capital is accelerating the development of genome-editing therapies and agricultural solutions, as well as driving innovations in related technologies like delivery systems and bioinformatics.
Second, the increasing prevalence of genetic diseases and cancer is creating a growing demand for advanced therapeutic solutions. As more genetic links to diseases are identified, there is a rising need for targeted treatments that can address these conditions at their genetic root. Genome editing offers a direct approach to correcting genetic mutations, making it an attractive option for treating a wide range of conditions, from inherited disorders to cancers and viral infections. The ability to potentially cure or significantly alter the course of these diseases is propelling the interest in genome-editing therapies, driving market growth.
Third, the rapid advancements in genome editing technologies, particularly the development of CRISPR-Cas9, are fueling the expansion of the market. CRISPR has revolutionized genome engineering by offering a more efficient, affordable, and versatile method for editing genes compared to earlier techniques like zinc-finger nucleases and TALENs. As CRISPR technology continues to improve, with the development of more precise editing tools like base editors and prime editors, the potential applications of genome editing are expanding, further driving the growth of the market. These advancements are making genome editing more accessible to a wider range of research institutions and industries, from pharmaceuticals to agriculture.
Additionally, the rise of personalized medicine is playing a major role in the growth of the genome editing market. As the medical field moves toward more tailored treatments based on a patient's genetic makeup, genome editing is increasingly seen as a key tool in developing customized therapies. The ability to design treatments that target specific genetic mutations or pathways is enhancing the appeal of genome editing in clinical settings, particularly in cancer therapy and rare genetic disorders.
Regulatory support and increasing public awareness of the potential benefits of genome editing are also contributing to market expansion. Regulatory agencies like the FDA and EMA are beginning to approve genome editing-based therapies, signaling growing acceptance of these technologies in mainstream healthcare. Moreover, as public awareness of genome editing grows, driven by media coverage and scientific breakthroughs, there is increasing demand for therapies and innovations based on this technology.
In summary, the growth of the genome editing market is driven by significant investment in biotechnology, the rising prevalence of genetic diseases, advancements in genome editing technologies like CRISPR, the shift toward personalized medicine, and growing regulatory support. As genome editing continues to evolve, its applications in medicine, agriculture, and biotechnology will expand, shaping the future of healthcare, food production, and scientific research.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Genetic Engineering Application segment, which is expected to reach US$20.1 Billion by 2030 with a CAGR of a 18.1%. The Clinical Applications segment is also set to grow at 21.1% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was valued at $3.0 Billion in 2023, and China, forecasted to grow at an impressive 19.0% CAGR to reach $5.8 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as CRISPR Therapeutics AG, Editas Medicine, Inc., GenScript Biotech Corporation, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Questions Answered:
- How is the Global Genome Editing / Genome Engineering Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 187 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $10.7 Billion |
| Forecasted Market Value (USD) by 2030 | $37.2 Billion |
| Compound Annual Growth Rate | 19.4% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- Global Economic Update
- Genome Editing / Genome Engineering - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Advances in CRISPR Technology Revolutionize Genome Editing Applications
- Expansion of Genome Editing Applications in Agriculture and Livestock
- Role of Genome Editing in Personalized Medicine and Therapeutic Development
- Growth of Therapeutic Applications Driving Market Opportunities
- Implications of Germline and Somatic Cell Editing
- Future Directions: Genome Editing in Neurodegenerative Diseases and Cancer
FOCUS ON SELECT PLAYERS(Total 27 Featured)
- CRISPR Therapeutics AG
- Editas Medicine, Inc.
- GenScript Biotech Corporation
- Horizon Discovery Group PLC
- Integrated DNA Technologies (IDT), Inc.
- Lonza Group AG
- Merck & Co., Inc.
- New England Biolabs, Inc.
- OriGene Technologies, Inc.
- Sangamo Therapeutics
- Thermo Fisher Scientific, Inc.
- Transposagen Biopharmaceuticals, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/617ne8
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