PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1299770
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1299770
Genome editing market size was valued at USD 5,080.7 Million in 2022, expanding at a CAGR of 22.3% from 2023 to 2030.
Genome editing is referring a technique for precise alterations to change the DNA of an organism. Additionally, it uses a unique enzyme known as an "engineered nuclease" in the genome that makes a precise cut. Moreover, a particular region of the DNA is cut, and the cell heals the damage automatically. It is utilized in several fields such as biotechnology, mutation, agriculture, and medicines. Further, by altering human blood cells they are then injected into the body to treat several diseases including cancer, AIDS, and cystic fibrosis.
In genome editing, continuous technological advancements are a major factor expected to propel market growth. Additionally, the increasing prevalence of cancer & other genetic disorders and the availability of government growth & funding is attributed to driving the market growth of genome editing. However, regulatory, scientific, & ethical challenges along with high equipment costs will likely obstruct the genome editing market growth.
Moreover, the management & identification of human genetic illnesses and the development of new drugs are great opportunities for the genome editing market. Furthermore, profiling, DNA analysis, NGS, and genetic engineering of animals & plants need genome editing. Thereby, with rising application areas of genomics, the global demand for genome editing is anticipated to increase. The COVID-19 pandemic negatively impacted the market growth of genome editing. The COVID-19 outbreak has disrupted workflow globally In the healthcare sector. Due to the spread of disease industries shut their doors temporarily this in turn decreased the demand for genome editing during the pandemic.
The global genome editing market is segmented on the basis of application, technology, end-user, and region.
The market is divided into five categories based on application: cell line engineering, genetic engineering, drug discovery, gene-modified cell therapy, diagnostics, and others. The cell line engineering sector is expected to hold the largest market share. The growth can be attributed to the rising utilization of cell line engineering in stem cell-based research.
The market is divided into three categories based on technology: CRISPR, TALEN, ZFN, and others. The CRISPR sector is likely to maintain its dominance. The technique has revolutionized the genome manipulation space with CRISPR technical advantages. The advantages include regulation, guide RNA-specific recovery, and targeted gene disruption.
The market is divided into three categories based on end-user: academics & government institutes, biotechnology & pharma companies, and contract research organizations. The biotechnology & pharma companies sector is expected to possess the market. The rising prevalence of cancer and infectious diseases increasing research activities globally and this in turn expected to increase the segment growth.
The market competitors are challenged to offer innovative offerings that enable communication in addressing business practices, security needs, and changing technologies. Additionally, to gain quick access market players are enhancing technological capabilities. Moreover, key players are constantly focusing to adopt various strategies such as partnerships, mergers & acquisitions, collaborations, new product launches, and R&D spending to gain a foothold in the global market. For instance, in February 2022, Intellia and Regeneron announced Updated Phase 1 Data Demonstrating a Single Dose of NTLA-2001. Additionally, it is an Investigational CRISPR Therapy for Transthyretin (ATTR) Amyloidosis that give rapid result, Sustained and Deep Reduction in Disease-Causing Protein
This proposed research study on genome editing market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year.
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for genome editing market.
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the genome editing market.
Impact of COVID-19 on genome editing market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on genome editing market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the genome editing market, we have also included competitive landscape and key innovator analysis for the genome editing market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the genome editing market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global genome editing market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts.
The scope of this report covers the market by its major segments, which include as follows: