Trending Report On Genome Editing/Genome Engineering Market 2024-2033: Business Outlook, Critical Insights And Growth Strategy

The genome editing/genome engineering market size has grown rapidly in recent years. It will grow from $7.23 billion in 2023 to $8.57 billion in 2024 at a compound annual growth rate (CAGR) of 18.6%. The growth in the historic period can be attributed to increasing research in genetics and genomics, rise in genetic diseases, gene therapy advancements, investments in biotechnology and life sciences, potential for agricultural applications, application in model organisms.

The genome editing/genome engineering market size is expected to see rapid growth in the next few years. It will grow to $17.16 billion in 2028 at a compound annual growth rate (CAGR) of 18.9%. The growth in the forecast period can be attributed to emergence of prime editing, focus on ethical and regulatory frameworks, increasing adoption in drug discovery, therapeutic potential for genetic disorders, customization for gene function studies, growing interest in epigenome editing. Major trends in the forecast period include advancements in crispr technology, growing applications in therapeutics, emergence of new genome editing tools, investments and partnerships, enhanced delivery systems, integration of artificial intelligence (ai) in genome editing design.

Market Overview -
Genome editing is a technique that enables scientists to alter the DNA of numerous organisms, including plants, bacteria, and animals. With the help of genome editing technologies, researchers would alter DNA, changing physical characteristics like eye colour and the risk of contracting diseases. Genome editing is used in animal models and cells in research labs to understand diseases.

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Rise In The Prevalence Of Cancer And Other Genetic Disorders Drives The Genome Editing Market
The rise in the prevalence of cancer and other genetic disorders is expected to propel the growth of the genome editing/genome engineering market going forward. Cancer is a condition wherein a few of the body's cells grow out of control and spread to other body regions. Genome editing can quickly engineer immune cells and oncolytic viruses for cancer therapeutic applications. For instance, in February 2022, according to an article published by the World Health Organization (WHO), a Switzerland-based United Nations health agency, nearly 10 million deaths, or nearly one in six deaths, were caused by cancer, making it the leading cause of death worldwide. Further, in June 2022, according to a report published by the Centers for Disease Control and Prevention (CDC), a US-based national public health agency, 1,752,735 new cases of invasive cancer in total, including 863,830 women and 888,905 men, were reported in the US in 2019. The incidence rate for all cancers was 439 per 100,000 people in the general population. Therefore, the rise in the prevalence of cancer and other genetic disorders is driving the growth of the genome editing and genome engineering market.

Competitive Landscape -
Major companies operating in the genome editing/genome engineering market report are Thermo Fisher Scientific Inc., Merck Group, Genscript Biotech Corp, Sangamo Therapeutics Inc., Lonza Group AG, Editas Medicine Inc., CRISPR Therapeutics AG, Agilent Technologies Inc., Intellia Therapeutics, bluebird bio Inc., Transposagen Biopharmaceuticals Inc., Tecan Trading AG, Precision BioSciences, PerkinElmer Inc., Cellectis S.A, Applied StemCell Inc., Bio-Rad Laboratories Inc., Bio-Techne, Creative Biogene, Cyagen Biosciences, Dharmacon Inc., Eurofins Genomics LLC, Evotec SE, GeneCopoeia Inc., Genewiz, Horizon Discovery Group plc, Inscripta Inc., Integrated DNA Technologies Inc., MaxCyte Inc., New England Biolabs, Novartis International AG.

Advancing Gene Editing Technologies In The Genome Engineering Frontier
Technological advancements in gene editing are a key trend gaining popularity in the genome editing/genome engineering market. Major companies operating in the genome editing/genome engineering market are concentrating on creating innovative technology solutions to improve their position. For instance, in May 2022, researchers at Kyoto University and the Institute of Evolutionary Biology (CSIC-Universitat Pompeu Fabra), a Spain-based research university focused on evolutionary biology, unveiled a quick and effective method for editing genes in insects. Direct parental CRISPR (DIPA-CRISPR), a simple and effective method, involves injecting materials into developing eggs in female adults rather than embryos. The novel technique enables researchers to avoid microinjecting CRISPR material into insect embryos.

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Key Segments -

The genome editing/genome engineering market covered in this report is segmented -

1) By Product And Service: Reagents And Consumables, Software And systems, Services
2) By Technology: CRISPR, TALEN, ZFN, Antisense, Other Technologies
3) By Application: Cell Line Engineering, Genetic Engineering, Diagnostic Applications, Drug Discovery And Development, Other Applications
4) By End User: Biotechnology Companies, Pharmaceutical Companies, Academic And Government Research Institutes

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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