New York, Feb. 21, 2023 (GLOBE NEWSWIRE) -- The Genome Editing Market revenues were estimated at US$ 4.5 Billion in 2022 and are anticipated to grow at a CAGR of 34% from 2023 to 2033, according to a recently published Persistence Market Research report. By the end of 2033, the market is expected to reach US$ 108.4 Billion. The market through Ex-vivo delivery method is expected to grow at a CAGR of over 35% from 2023 to 2033.
Government funding for science, a rise in the number of studies relating to genomic information, and a rise in the state of various diseases and genetic disorders are the key factors contributing to the market expansion. Organizations that focus on enhancing genome editing diagnostic tools to help ease the effects of COVID-19 are boosting the genome editing industry.
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The expense of the technologies needed to conduct genome editing is acting as a significant obstacle to market growth. In addition, the legitimate and ethical problems surrounding genome editing are likely to restrain the sector's expansion.
Gene editing has shown to be a promising treatment option for genetic problems, infectious diseases, and cancer.
Gene editing is a type of genetic editing in which DNA is inserted, removed, or changed in the genome of an organism using a designed nuclease or molecular scissor to treat a specific condition. These nucleases cause double-stranded breaks in the genome at certain sites. Non-homologous end joining or homologous recombination are used to repair the produced double-stranded breaks, resulting in specific mutations. These factors are expected to swell the Genome Editing Market in the forthcoming years.
Genome editing revenue in North America is expected to grow at a swift pace with an absolute dollar opportunity of over US$ 30 Billion. The significant share of the market in the region is due to the availability of strong research, as well as a commercial base for advanced therapeutic development, as well as a large number of clinical studies being done for gene and stem cell therapies in the region.
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Competitive Landscape
- Merck Kgaa
- Cibus
- Recombinetics, Inc
- Sangamo
- Editas Medicine
- Precision Biosciences
- Crispr Therapeutics
- Intellia Therapeutics, Inc.
- Caribou Biosciences, Inc
- Cellectis are the prominent providers in the Genome Editing Market.
Few of the recent developments of key Genome Editing providers are as follows:
- In October 2021, Merck KGaA licensed its patented CRISPR-Cas9 technology to Cellecta. It will be used for the development of next-generation treatments, as well as allow scientists and researchers to propagate treatments for cancers, genetic blood disorders, and ophthalmological diseases.
- In April 2021, Inscripta installed its Onyx CRISPR-based genome editing platform at the University of Liverpool.
More Insights Available
Persistence Market Research, in its new offering, presents an unbiased analysis of the Genome Editing market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
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The study reveals essential insights on the basis of
- by Application (Genetic Engineering, Clinical Applications),
- by Technology (Meganucleases, (CRISPR)/Cas9, TALENs/MegaTALs, ZFN, Others),
- by Delivery Method (Ex-vivo, In-vivo),
- by Mode (In-house, Contract),
- by across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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