The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Genome Editing Or Genome Engineering Global Market Report 2024, the genome editing or genome engineering market is expected to show promising growth in the forecast period.

The genome editing/genome engineering market has undergone remarkable growth in recent years, driven by advancements in genetic research and a surge in genetic disorders. Let’s delve into the factors propelling this growth and the trends shaping the future of genome editing technologies.

Exponential Growth Trajectory: Market Insights

• The genome editing/genome engineering market size is on a rapid ascent, climbing from $7.23 billion in 2023 to $8.57 billion in 2024, boasting a remarkable CAGR of 18.6%.
• Looking ahead, the market is poised to reach $17.16 billion by 2028, with a projected CAGR of 18.9%.

Driving Forces Behind the Growth

Rise in the Prevalence of Cancer and Genetic Disorders Fuels Market Expansion

• Cancer and other genetic disorders have seen a notable uptick in prevalence globally, necessitating innovative therapeutic solutions.
• Genome editing technologies offer promising avenues for cancer therapy and targeted genetic interventions.
• The World Health Organization highlights cancer as a leading cause of death worldwide, underlining the urgent need for advanced treatment modalities.

Advancing Gene Editing Technologies in the Genome Engineering Frontier

• Technological advancements play a pivotal role in driving innovation within the genome editing landscape.
• Companies are investing in cutting-edge technologies to enhance efficiency and precision in gene editing processes.
• Recent breakthroughs, such as the development of Direct Parental CRISPR (DIPA-CRISPR) by researchers at Kyoto University and the Institute of Evolutionary Biology, underscore the rapid pace of innovation in the field.

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Strategic Acquisitions and Collaborations

• Strategic acquisitions, like Lesaffre’s acquisition of Recombia Biosciences, bolster companies’ capabilities and accelerate product development.
• Lesaffre’s acquisition aims to leverage Recombia Biosciences’ genome-editing technologies to enhance yeast production for sustainable ingredients.

Market Segmentation

The genome editing/genome engineering market is segmented based on several key criteria:

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

Regional Dynamics

• North America emerged as the largest region in the gene editing/genome engineering market in 2023, driven by robust research and development activities.
• Asia-Pacific is poised to witness the fastest growth, fueled by increasing investments in biotechnology and rising healthcare expenditures.

Future Trends and Opportunities

• Advancements in CRISPR technology and the emergence of new genome editing tools will redefine therapeutic approaches and expand treatment options.
• The integration of artificial intelligence (AI) into genome editing design promises enhanced precision and efficiency.
• Growing applications in therapeutics and investments in partnerships underscore the immense potential of the genome editing market.

In conclusion, the genome editing/genome engineering market is witnessing unprecedented growth, fueled by technological innovation, rising disease prevalence, and strategic collaborations. With evolving trends and burgeoning opportunities, stakeholders must navigate this dynamic landscape with agility and foresight to unlock the full potential of genome editing technologies in healthcare and beyond.

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