Genome Editing Market To Record US$ 16.98 Billion by 2028 | Exclusive Report By The Insight Partners

According to our new research study on "Genome Editing Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Technology, Application, and End User," the market is expected to grow from US$ 5.19 billion in 2021 to US$ 16.98 billion by 2028; it is estimated to grow at a CAGR of 18.4% during 2021-2028. Factors driving the growth of the market are the rising prevalence of cancer, growing rate of genetic disorders, and rapidly growing research and development initiatives around gene editing tools and techniques.

Genome editing technologies enable scientists to change DNA, leading to changes in physical traits, like eye color and disease risk. Scientists use different technologies to do this. These technologies act like scissors, cutting the DNA at a specific spot. Then scientists can remove, add, or replace the DNA where it was cut. CRISPR is simpler, faster, cheaper, and more accurate than older genome editing methods. Many scientists who perform genome editing now use CRISPR.

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Thermo Fisher Scientific Inc., Merck KGaA, Lonza, Horizon Discovery Group plc., Integrated DNA Technologies, GenScript, New England Biolabs, Eurofins Scientific, CRISPR Therapeutics, and Editas Medicine are among the leading companies operating in the genome editing market.

Based on technology, the genome editing market is segmented into CRISPR, TALEN, antisense, and other. Based on application, the market is segmented into cell line engineering, genetic engineering, diagnostic applications, drug discovery, and others. Based on end user, the genome editing market is segmented into pharmaceutical and biotechnology companies, academic and research institutes, and clinical research organizations (CRO's). By geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of the Middle East & Africa), and South and Central America (Brazil, Argentina, and the Rest of South and Central America).

The COVID-19 outbreak pandemic has marked the highest number of positive patients. Across the world, various healthcare research centers were working only for research on COVID-19 therapeutics. As the crisis moved forward, healthcare professionals realized that developing novel therapies using innovative technologies is essential to mitigate this unprecedented crisis. The lack of definitive therapy offers significant opportunities for the genome editing-related market as US FDA has recently approved the use of plasma therapy for critically ill COVID-19 patients. Upcoming stem cell therapies to boost patients' immune systems and eliminate the virus would offer significant growth prospects for the market. The pandemic has positively impacted the genome editing market.

Based on technology, the genome editing market is segmented into CRISPR, TALEN, antisense, and other. The CRISPR segment held the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market during the forecast period. The market growth for this segment is attributed to incumbent usage of CRISPR, high volume consumption, and product innovation. CRISPR-Cas9 is faster, cheaper, and more accurate than the other technologies of DNA editing and is used for the wide applications. It is the simplest, most versatile, and precise method of genetic manipulation. Companies like Sangamo Therapeutics, Editas Medicine, Thermo Fisher Scientific, and Horizon Discovery Groups offer CRISPR.

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