Genome Editing Market Size Worth $19.4 Billion By 2028

The global genome editing market size is expected to reach USD 19.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 22.9% from 2021 to 2028. The success of CRISPR/Cas9 technology in 2020 coupled with technological advances in Transcription Activator-Like Effector Nucleases (TALENs) and Zinc-finger Nucleases (ZFNs) with respect to efficiency has driven the market.

Research communities are exploring the potential of gene-modification tools like CRISPR as a potential rapid screening solution for the COVID-19 genome. For instance, in December 2020, researchers from Gladstone Institutes developed a CRISPR-based test that uses smartphones to deliver results. Similarly in June 2020, researchers from Stanford University have developed -PAC-MAN a gene-modification tool based on CRISPR technology. This tool destroys SARS-CoV-2 inside human cells.

Increasing application of the gene-modification tools in therapeutic research has resulted in the rising number of advanced therapeutics entering clinical trials. Furthermore, the use of artificial intelligence to advance the implementation of novel gene modification systems exhibits great potential for the technology developer. This is anticipated to greatly favor the market revenue in the foreseeable future.

For more info visit here: https://www.grandviewresearch.com/industry-analysis/genome-editing-market

Genome Editing Market Report Highlights

• The CRISPR/Cas9 technology segment accounted for the significant revenue share in 2020
• The CRISPR/Cas9 technology has proven its efficiency as a promising gene-editing tool owing to its advantages over conventional gene modification methods
• One of the significant advantages includes simultaneous modification of multiple target genes using this technology
• The ex-vivo delivery method accounted for a major share owing to its ease of DNA modification which resulted in its wide application for genome editing purposes
• Genetic engineering, particularly, cell line engineering dominated the market
• High penetration of gene-manipulation tools in stem cell research has contributed to this dominance
• The application of CRISPR technology has enhanced the productivity of CHO cell lines consequently increasing its application in biopharmaceutical production
• Besides, animal genetic engineering is witnessing the growing application of gene-alteration tools for various purposes such as the development of animal models to mirror human diseases
• Moreover, the Cas protein system is gaining traction in the development of point-of-care diagnostics, thereby driving investment flow in diagnostic applications
• Biotechnology and pharmaceutical companies are the key end-users of the market as these are adopted these technologies for the development of novel therapeutics to a major extent
• Also, the COVID-19 pandemic has driven the investments in this space to develop rapid molecular diagnostic tests based on gene editing by biotechnology companies
• North America dominated the 2020 global market owing to the strong research as well as the commercial base for various gene alteration tools
• Moreover, the U.S. is the major contributor in the region with the high adoption of molecular scissor tools across research
• This is indicated by the increasing number of genome editing-based research publications in the country
• In Asia Pacific, the market is anticipated to witness the fastest growth rate over the forecast period
• China is reported to be the first country to have successfully transferred genetically edited cells into humans, to boost immunity and treat lung cancer, thereby driving the market
• Licensing agreements is the major strategy undertaken by operating companies in this space to strengthen their market position

About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more info visit @ https://www.grandviewresearch.com