Categories: Healthcare

Gene Editing Market Forecast 2024-2033: Growth Rate, Drivers, And Trends|AstraZeneca PLC, Thermo Fisher Scientific Inc., Merck KGaA, GE Healthcare Life Sciences, Agilent Technologies Inc.

Genetic engineering and gene manipulation concept. Hand is replacing part of a DNA molecule. 3D rendered illustration of DNA.

The Gene Editing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Gene Editing Global Market Report 2024, The gene editing market size has grown rapidly in recent years. It will grow from $7.45 billion in 2023 to $8.76 billion in 2024 at a compound annual growth rate (CAGR) of 17.7%. The growth in the historic period can be attributed to discovery of crispr-cas9, advancements in genetic sequencing, medical breakthroughs, scientific research funding, biotechnology industry growth.

The gene editing market size is expected to see rapid growth in the next few years. It will grow to $17.19 billion in 2028 at a compound annual growth rate (CAGR) of 18.4%. The growth in the forecast period can be attributed to therapeutic applications expansion, precision and efficiency enhancements, gene therapy commercialization, agricultural applications development, regenerative medicine growth. Major trends in the forecast period include multiplex editing techniques, base editing innovations, gene drives and population modification, non-viral delivery systems, disease modeling and drug discovery.

The rising infectious diseases act as one of the major drivers of the gene editing market. Gene editing techniques are used for the detection of infectious diseases such as HIV. Infectious diseases are caused by microorganisms like bacteria, viruses, fungi, and parasites. Gene therapy treats infectious diseases by blocking the replication of the infectious agent that causes the disease at the extracellular level. Gene editing introduces new genetic material into the cells of living organisms with the intention of treating diseases for the growth of gene editing market.

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The gene editing market covered in this report is segmented –

1) By Technology: CRISPR, TALEN, ZFN
2) By Application: Animal Genetic Engineering, Plant Genetic Engineering, Cell Line Engineering
3) By End Users: Biotechnology, Pharmaceutical, Contract Research Organization

Major companies operating in the gene editing markets are introducing innovative technology in gene editing, such as a technique based on special cell-penetrating peptides that promises advantages over current methods, to gain a competitive edge in the market. The approach could also power the development of advanced cell therapies for cancer and other diseases. For instance, in April 2023, Penn Medicine, a US-based major multi-hospital health system, found that protein fragments used by some viruses to help them get into cells could also be used to get CRISPR-Cas gene editing molecules into cells and their DNA-containing nuclei with extraordinarily high efficiency and low cellular toxicity. The scientists expect the new technique to be particularly useful for modifying T cells and other cells from a patient’s own body to make cell therapies. One such application could be CAR T (chimeric antigen receptor T cell) therapy, which uses specially modified immune cells from a patient to treat cancer. A new approach to the genetic engineering of cells promises significant improvements in speed, efficiency, and reduction in cellular toxicity compared to current methods.

The gene editing market report table of contents includes: