Base Editing Market Size, Share, Trends and Revenue | Danaher Corporation (US), Merck KGaA (Germany), Revvity (US), Maravai LifeSciences (US), GenScript (China)

Base Editing Market in terms of revenue was estimated to be worth $270 million in 2023 and is poised to reach $549 million by 2028, growing at a CAGR of 15.2% from 2023 to 2028 according to a new report by MarketsandMarkets. Growing interest in gene editing technologies, including base editing, has attracted substantial funding and investment from both public and private sources. This financial support is crucial for research and development efforts, accelerating the commercialization of base editing technologies. However, ethical & safety concerns are the factors restraining market growth.

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The platform segment accounted for the largest share by product & service in the base editing market in 2022.

By product and service, the base editing market has been further categorized as products and services. The service segment is further categorized as gRNA design, cell line engineering, and other services. The product segment is further categorized as platform, kits & reagents, plasmids, and base editing libraries. Platform accounted for the largest share of the global base editing market in 2022. The large share of this segment can primarily be attributed to the factor that it offers integrated solutions that combine various elements required for the editing process, such as the base editor protein, guide RNA, and delivery mechanisms. This integration simplifies the workflow for researchers, as they can obtain a complete solution from a single source rather than assembling individual components.

The DNA base editing type segment is expected to grow at a higher rate during the forecast period 2023-2028.

Based on the type, the global base editing market is segmented into RNA base editing, and DNA base editing. In 2022, DNA base editing accounted for the largest share of the base editing market and the segment is expected to grow at a higher rate during the forecast period. The prominence of this segment is mainly attributed to the factor that once a base is edited in the DNA, the change is more stable over time compared to RNA-based editing. RNA is typically transient in cells, and the edits made to RNA may not persist as long as those made to DNA.

The pharmaceutical & biopharmaceutical companies segment accounted for the largest share of the end user segment in the base editing market in 2022.

Based on end users, the base editing market has been segmented into pharmaceutical & biotechnology companies, academic research institutes, and contract research organizations. In 2022, the pharmaceutical & biotechnology segment accounted for the largest share of the base editing market. One of the major factors driving the growth of this segment is that base editing enables precise modifications at the DNA or RNA level, allowing pharmaceutical and biotech companies to develop targeted therapies for specific genetic diseases. This aligns with the industry's shift toward precision medicine, where treatments are tailored to the individual genetic makeup of patients.

The North American region catered for the largest share of the base editing market in 2022.

The base editing market is segmented into North America, Europe, the Asia Pacific (APAC), Latin America (LATAM), and the Middle East and Africa (MEA). The availability of funding, both public and private, plays a crucial role in the development and commercialization of advanced technologies. North America has a well-established infrastructure for funding research and development initiatives, providing financial support to companies working on base editing technologies.

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Base Editing Market Dynamics:

Drivers:

Increasing government funding and growing focus on genomic studies
Increased applications of genomic research in pharmaceuticals
Rising prevalence of rare diseases
Increased precision, better safety, and reduced off-target effects
Restraints:

Ethical and safety concerns
Opportunities:

Increasing pipeline of gene therapy products and regulatory approvals
Challenge:

Lack of expertise to develop base editors with higher specificity

Key Market Players of Base Editing Industry:

Key players in the base editing market include Danaher Corporation (US), Merck KGaA (Germany), Revvity (US), Maravai LifeSciences (US), GenScript (China), Beam Therapeutics (US), Intellia Therapeutics, Inc. (US), Cellectis (France), ElevateBio (US), Creative Biogene (US), Bio Palette Co., Ltd (Japan), Addgene (US), Synthego (US), Edigene, Inc. (China), Shape TX (US), Pairwise (US), ProQR Therapeutics (Netherlands), QI- Biodesign (China), KromaTiD, Inc. (US), and GenKOre. (South Korea).

The primary interviews conducted for this report can be categorized as follows:

By Respondent: Supply Side- 70% and Demand Side 30%
By Designation: Managers - 45%, CXO & Directors - 30%, and Executives - 25%
By Region: North America -40%, Europe -25%, Asia-Pacific -20%, Latin America -10% and Middle East & Africa- 5%

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