The gene editing market is projected to grow from USD 5.3 billion in 2023 to USD 10.6 billion by 2028 at a CAGR of 15.0%. Gene editing or genome engineering is the insertion, deletion, or replacement of DNA at a specific site in the genome of an organism or cell. It is usually achieved in the lab using genome-editing tools, such as CRISPR, TALEN, and ZFN. This emerging and rapidly evolving field enables the efficient and directed modification of cell lines and genomes of animals and plants.
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OPPORTUNITY: Expanding pipeline for gene therapyThe expanding pipeline for gene therapy in the gene editing industry presents significant opportunities for advancements in treating genetic disorders and other diseases. Gene therapy involves the delivery of therapeutic genes or gene editing tools into the patient’s cells to correct genetic mutations, restore normal gene function, or introduce therapeutic genes for targeted treatment. The growing number of gene therapy candidates in the development pipeline highlights the potential for transformative breakthroughs in personalized medicine and the treatment of previously incurable diseases.
CHALLENGE: High equipment costsThe costs associated with gene editing equipment can be substantial. For instance, gene editing technologies like CRISPR-Cas9 require specialized laboratory equipment, including DNA sequencers, thermal cyclers, electroporation devices, and fluorescence microscopes. These instruments can have high price tags, ranging from thousands to millions of dollars. In addition to equipment costs, procuring quality reagents, such as nucleases, guide RNAs, and donor templates, can contribute to the overall expenses.
North America dominates the global gene editing market throughout the forecast periodThe gene editing market is segmented into five major regional segments, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2022, North America accounted for the largest share in the gene editing market, which is attributed to the technological advancements, established research infrastructure, and demand for precision medicine.
Request Free Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=231037000The prominent players in the global gene editing market include Merck KGaA (Germany), Thermo Fisher Scientific, Inc. (US), GenScript (China), Agilent Technologies (US), PerkinElmer (US), Lonza (Switzerland), Tecan Life Sciences (Switzerland), Sangamo Therapeutics (US), Editas Medicine (US), CRISPR Therapeutics AG (Switzerland), Precision Biosciences (US), Cellectis (France), Intellia Therapeutics (US), Bluebird Bio, Inc. (US), Regeneron Pharmaceuticals (US), AMSBIO (England), Creative Biogene (US), Synthego Corporation (US), and Beam Therapeutics Inc. (US).
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