Latest News- Genome Editing Market: Pharmaceutical and biotechnology companies is expected to lead the End-user segment during 2024-2028

The Genome Editing Market is being driven by Rapid technological advancements in genome editing

The Genome Editing Market is expected to grow at a CAGR of 15.88% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 7.23 billion. CRISPR-based diagnostics represent a significant advancement in the field of molecular testing, offering decentralized and rapid solutions for nucleic acid detection. With the ability to perform point-of-care testing outside traditional laboratory settings, these platforms enhance healthcare delivery, particularly in resource-limited areas, remote locations, and during outbreaks or emergencies. CRISPR-based diagnostic tools, such as SHERLOCK and DETECTR, provide high sensitivity and specificity for target sequence detection, even at low concentrations. Their exceptional accuracy makes them invaluable for early disease detection and surveillance. Furthermore, these platforms support multiplexing, enabling simultaneous detection of multiple targets in a single assay, increasing efficiency and reducing turnaround time for diagnostic results. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Pharmaceutical and biotechnology companies
  • Academic institutes and research laboratories
  • CRO
• Delivery Mode
  • Ex-vivo
  • In-vivo
• Geography
  • North America
    • US
    • Canada
  • Europe
    • Germany
    • UK
  • Asia
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rapid technological advancements in genome editing
• Increasing demand for personalized medicine
• Emergence of novel gene editing platforms

However, the market also witnesses some limitations, which are as follows:

• Complexity of genome editing
• Concerns associated with off-target effects of genome editing
• Regulatory challenges associated with genome editing

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Market Scope in Genome Editing Market Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Genome Editing Market is experiencing rapid growth due to the increasing demand for gene therapy and gene-editing technologies in the healthcare industry. These advanced technologies, including CRISPR-Cas9, TALENs, and ZFNs, have revolutionized molecular biology by enabling precise modification of DNA strands. One of the significant applications of genome editing is in the field of medicine, where it holds promise for treating genetic abnormalities such as sickle cell disease, hemophilia, cystic fibrosis (CF), breast cancer, multiple myeloma, and tumors. For instance, white button mushrooms have been engineered using gene-editing tools to produce a protein that can inhibit the growth of breast cancer cells. Clinical trials are underway to evaluate the efficacy of genome editing in treating various diseases, including cancer, AIDS, and Parkinson’s disease. Pro-code and SMR are two emerging genome editing tools that offer improved specificity and efficiency. Genome editing holds the potential to modify a single gene in an organism, providing a cure for genetic disorders and offering new hope for patients. However, ethical concerns surrounding genome editing and its potential impact on the environment remain a challenge for the industry. Regulatory frameworks, such as those established by the World Health Organization and the National Institutes of Health, are essential to ensure the safe and ethical use of genome editing technologies.

Market Research Overview

According to Technavio, the global genome editing market is a segment of the expansive global pharmaceuticals industry, which encompasses entities involved in research and development (R&D) or manufacturing of various pharmaceutical offerings, including generic and non-generic drugs, and veterinary medicines. The size of the global healthcare market, which includes the revenue generated by providers of equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services, is determined by Technavio. Factors driving the growth of the pharmaceuticals market include the increasing global population aging, with the number of individuals above 60 years projected to rise significantly.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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