The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s genome editing or genome engineering market report forecasts the genome editing or genome engineering market size to grow to $14.22 Billion by 2027, with a CAGR (compound annual growth rate) of more than 18%.

Learn More On The Genome Editing Or Genome Engineering Market Report 2023 – https://www.thebusinessresearchcompany.com/report/genome-editing-or-genome-engineering-global-market-report

Genome Editing Or Genome Engineering Market Size Forecast
The global genome editing or genome engineering market is expected to grow from $6.11 billion in 2022 to $7.20 billion in 2023 at a compound annual growth rate (CAGR) of 17.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The genome editing or genome engineering market size is expected to grow to $14.22 billion in 2027 at a CAGR of 18.5%.

North America held the largest genome editing or genome engineering market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Genome Editing Or Genome Engineering Market Driver ­– Rise In The Prevalence Of Cancer And Other Genetic Disorders
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.

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Key Genome Editing Or Genome Engineering Market Trend – Technological Advancement
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.

Genome Editing Or Genome Engineering Market Segment
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

Genome Editing Or Genome Engineering Market Major Players and Strategies
Major players in the genome editing or genome engineering market 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., and Cellectis S.A.

In March 2020, Zymergen, a US-based biotechnology company, acquired enEvolv, Inc. for an undisclosed amount. With the acquisition, Zymergen launched new products and was estimated to increase by 20%, speeding up the pace and scope of bio-manufacturing. enEvolv, Inc. is a US-based genome engineering company.

The Genome Editing Or Genome Engineering Global Market Report 2023 covers regional data on genome editing or genome engineering market size, genome editing or genome engineering market trends and drivers, opportunities, strategies, and genome editing or genome engineering market competitor analysis. The countries covered in the genome editing or genome engineering market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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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