Newark, Aug. 08, 2024 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global genome editing market is expected to grow from USD 8.18 billion in 2023 to USD 39.33 billion by 2033, at a CAGR of 17% during the forecast period 2024-2033. The genome editing market was experiencing significant growth, driven by advancements in technology and increasing applications across various fields such as biotechnology, agriculture, and medicine. The market size was estimated to be in the range of several billion dollars, with projections indicating continued expansion in the coming years.
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North America region emerged as the largest market for the global genome editing market, with a 46.17% share of the market revenue in 2023. The significant advancements in drug discovery research and the utilization of artificial intelligence propel the market's growth in this region. Furthermore, the improved healthcare infrastructure, the expansion of the biotechnology industry, and the increasing use of gene-modification tools are also helping to drive market growth in this region. In addition, the Asia Pacific region is expected to show the fastest CAGR growth over the projection period due to the increasing research groups in emerging countries.
Report Scope and Segmentation –
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 17% |
| 2033 Value Projection | USD 8.18 Billion |
| Market Size in 2023 | USD 39.33 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 238 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | Technology, Application, End-User |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Genome Editing Market Growth Drivers | The increased incidence of genetic disorders |
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Leading companies in the industry include Merck KGaA, Thermo Fisher Scientific, Lonza, Sangamo Therapeutics, GenScript, Editas Medicine, Tecan Life Sciences, CRISPR Therapeutics AG, Cellectis S.A, Tecan Life Sciences, Agilent Technologies, Precision Biosciences, Creative Biogene, Bluebird Bio, PerkinElmer, Regeneron Pharmaceuticals, Intellia Therapeutics, Vigene Biosciences, Transposagen Biopharmaceuticals, Synthego, Beam Therapeutics, Caribou Biosciences, Integrated DNA Technologies, Recombinetics, OriGene Technologies, New England Biolabs, and among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.
The application segment is divided into animal genetic engineering, cell line engineering, and plant genetic engineering. The animal genetic engineering segment led the market with a market share of 41.21% in 2022. This growth is attributed to the rising need to develop genetically modified therapeutic proteins providing better resistance to diseases. The technology segment is divided into TALENs, zinc finger nucleases (ZFNs), and CRISPR/Cas9. The CRISPR/Cas9 segment led the market with a market share of 43.09% in 2022. This growth is attributed to the advantages over conventional gene modification methods. The end-user segment is divided into contract research organizations (CROs), biotech and pharma companies, and research institutes. The biotech and pharma companies segment led the market with a market share of 42.16% in 2022. This growth is attributed to the increasing prevalence of infectious diseases and cancer.
The increasing number of research activities for treating chronic diseases utilizing genome editing technology propel the growth of the genome editing market. Further, the technological advancements in the biotechnology sector, rising production of genetically modified crops, and the growing application areas of genomics are helping to stimulate the genome editing market growth during the forecast period.
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