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Gene Editing Market Trends

Report ID: GMI810
Published Date: May 2022
Report Format: PDF

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Gene Editing Market Trends

Rising funding for genetic study in developed regions including North America will drive the gene editing market growth over the forecast period. In the U.S., more than 20 federal agencies funded research and development government firms to produce useful materials, devices, and methods. Moreover, the U.S. government funds various research firms that help in the development and manufacturing of drug discovery for various rare genetic diseases. For instance, the National Human Genome Research Institute supports research programs and project to advance in the field of genomics.

Similarly, The National Institutes of Health (NIH), a part of the U.S. government’s Health and Human Services and nation’s medical research agency is responsible for research activities in genetics and biomedical. Recently in 2021, NIH funded around USD 1.6 million to the Arizona State University and Bayer College of Medicine for evaluating recent advancements in human genome editing. Recently developed drugs specifically for the treatment of genetic disorders have decreased the mortality rate that will boost the gene editing market growth in the expected future.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The gene editing industry is slated to surpass USD 19.9 billion by 2030 and is poised to record a 15.5% CAGR from 2022 to 2030 on account of the rise in technological advancements and the rapidly evolving CRISPR technology.

The CRISPR/Cas9 technology segment in the gene editing market is poised to record a 15.6% CAGR through 2030 owing to its benefits, including simplicity, easy use, and affordability.

The biotech and pharma companies end-user segment captured close to 45.5% of the gene editing market share in 2021 due to the rising focus on the development of new gene editing technologies.

The gene editing industry revenue from the cell line engineering application segment had crossed USD 2.2 billion in 2021 due to the swift developments and advancements in genome editing technologies.

North America held more than 38% of the gene editing industry share in 2021 and will record a significant CAGR through 2030 due to the higher burden of rare diseases in the U.S. and Canada.