According to our new research study on "Genome Editing Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Technology, Application, and End User," the market is expected to grow from US$ 5.19 billion in 2021 to US$ 16.98 billion by 2028; it is estimated to grow at a CAGR of 18.4% during 2021-2028.
The genome editing market growth is being driven by the increasing prevalence of cancer, the rising rate of genetic disorders, and the significant research and development efforts being conducted to advance gene editing tools and techniques.
The WHO has reported that cancer is the leading cause of death worldwide, with roughly 10 million fatalities in 2020. This rapid increase in the global prevalence and mortality of cancer is due in part to population growth and aging, as well as to shifts in the prevalence and distribution of risk factors, many of which are connected to economic development. Recent data from CANCER TODAY suggests that cancer incidence is climbing at a concerning rate, with hepatocellular carcinoma (HCC) is found out to be the 5th most common cancer in men and the 7th most common cancer in women. It is expected that HCC will account for approximately 5.6% of all human cancers, contributing to the burden in 2020. HCC is renowned for being the second greatest cause of fatalities associated with cancer globally. Around 85% of HCCs are seen in countries that are undergoing development. Over the last two decades, the progress in human genomics has enabled researchers to determine that cancer is caused by alterations in the host genome. This development prompted an excitement among cancer experts. Now, numerous therapeutic strategies of genetic modification are being utilized to enhance cancer regression and to search for a potential cancer remedy. CRISPR is now the standard method for many cancer biology investigations. The CRISPR/Cas9 system has been shown to be efficient in treating metastatic tumors, which is a great stride towards finding a cure for cancer.
Some of the top players in the genome editing market are Thermo Fisher Scientific Inc., Merck KGaA, Lonza, Horizon Discovery Group plc., Integrated DNA Technologies, GenScript, New England Biolabs, Eurofins Scientific, CRISPR Therapeutics, and Editas Medicine.
The genome editing market is divided into four categories depending on technology: CRISPR, TALEN, antisense, and other. It is further categorized by application (cell line engineering, genetic engineering, diagnostic applications, drug discovery, and others) and end user (pharmaceutical and biotechnology companies, academic and research institutes, and clinical research organizations). The genome editing market is also divided geographically into North America, Europe, Asia Pacific, the Middle East & Africa, and South and Central America.
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