Genome editing allows precise modifications to be made in the DNA sequences of living organisms. This technology holds significant potential for treating previously incurable medical conditions by precisely editing and repairing genetic mutations that underlie human diseases. The Global Genome Editing Market is estimated to be valued at US$ 7.1 billion in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024-2032.
Genome editing offers unparalleled control and precision for modifying gene expressions and regulatory elements with the help of engineered nucleases. The advancements in CRISPR, TALENs and ZFNs technologies now allow researchers to easily and efficiently target any DNA of interest. This has enabled application of genome editing for correction of genetic defects, developing gene therapies and customizing cell and tissue transplantation. The wide-ranging applications for treating cancer, genetic disorders, infectious diseases and developing novel crops and biofuels using genome editing is boosting its demand globally.
The genome editing market is estimated to be valued at USD 3.90 Bn in 2024 and is expected to reach USD 8.95 Bn by 2031, growing at a compound annual growth rate (CAGR) of 12.6% from 2024 to 2031.
Key Takeaways
Key players operating in the Genome Editing market are Thermo Fisher Scientific, Merck, Horizon Discovery, GenScript, Sangamo Therapeutics, Lonza.
The growing prevalence of genetic disorders and increasing success of gene therapy clinical trials are driving the demand for Genome Editing Market therapies. CRISPR especially is enabling development of therapies targeting conditions previously considered untreatable.
Major players are collaborating and acquisitions to expand globally into new regions. For instance, Horizon acquired privately held Edico Genome in 2021 to accelerate development of its in vivo gene editing pipeline.
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