The Global Genome Editing Market was valued at USD 5.25 Billion in 2021, and it is expected to reach a value of USD 17.02 Billion by 2028, at a CAGR…

Genome editing technologies are important for drug development as well as the detection and treatment of human genetic disorders. Genome editing is used in NGS, DNA analysis and profiling, as well as plant and animal genetic engineering. Demand for genome editing technologies is predicted to rise significantly throughout the forecast period due to the rising application areas of genomics.

Increasing cancer and other genetic disorders, growing preference for personalized medicine, increase in R&D expenditure and growth of biotechnology and pharmaceutical industries, increase in private and public sector funding, rapid advancements in sequencing and genome editing technologies, non-labelling of gene-edited products such as Genetically Modified Organisms (GMOs), applications in various drug discovery processes are some of the factors driving this rise in global genome editing market .

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Genome editing has already shown potential in the treatment of genetic disorders, infectious diseases, and cancer. Cancer and other genetic illnesses are becoming more common, and individualized medicine is becoming more popular. Increased R&D spending and the expansion of the biotechnology and pharmaceutical industries increased business and public sector investment, as appears to have done rapid advances in sequencing and genome editing industry. Non-labelling of gene-edited goods such as GMOs, as well as applications in various drug development procedures, are a few of the factors driving the global genome editing markets growth.

Drug discovery research activities increase the preference for gene-editing techniques, and thus extensive use of gene editing techniques will stimulate industry progression. Furthermore, recently developed therapies and drugs used in the treatment of genetic diseases have reduced mortality rates, which will have an impact on genome editing market revenue in the coming years. Because of the benefits of genome editing, various governments are funding public and commercial research, as well as academic institutes, to increase genome editing market revenue.

Read the market research report, Global Genome Editing Market Segmented By Technology (CRISPR, TALEN, ZFN, Antisense, Other Technologies) By Delivery Method (Ex-vivo, In-vivo) By Mode (Contract, In-house) By End-use (Biotechnology And Pharmaceutical Companies, Academic And Government Research Institutes, Contract Research Organizations) & By Region Forecast And Analysis 2022-2028 by SkyQuest

Increased funding for genetic research in developed regions, including North America, will drive global genome editing market growth during the forecast period. The United States government funds a variety of research programs that aid in the drug discovery process for several rare genetic diseases. The National Institutes of Health (NIH), a primary agency of the United States government, is in charge of biomedical and genetic research and awards billions of dollars in funding. For instance, a research team from Arizona State University and Baylor College of Medicine received approximately USD 1.6 million in NIH funding to evaluate advances in human genome editing. This funding also aided in the development of recommendations for technology governance and prospects.

North America dominated the genome editing market, accounting for 38.4% of the global market revenue in 2021. The presence of strong research as well as a commercial base for advanced therapy development, combined with a large number of clinical trials for gene and stem cell therapies in the region, has significantly contributed to the regions market dominance. Furthermore, the increasing number of patents granted to key players based in the United States has accelerated the adoption of these tools in the country, resulting in significant market growth of global genome editing market. For instance, Merck KGaA, recently announced that two of the companys patents for CRISPR gene-editing technologies had been approved in the United States. In the Asia Pacific, on the other hand, the market is expected to grow at the fastest rate during the forecast period. In November 2020, China announced its ten most significant agricultural advances, one of which was gene-editing technology, demonstrating the countrys high market penetration in this space.

The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about genome editing market size. The projections featured in the report have been derived using proven research methodologies and assumptions.

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SkyQuest has segmented the Global Genome Editing Market based on Technology, Delivery Method, Mode, End-Use, Application, and Region:

Key Players of the Global Genome Editing Market

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The Global Genome Editing Market was valued at USD 5.25 Billion in 2021, and it is expected to reach a value of USD 17.02 Billion by 2028, at a CAGR...