Genome Engineering Market is Estimated to Witness High Growth Owing to Advancements in CRISPR/Cas9 Technology
Genome engineering refers to the direct manipulation of an organism's genome using biotechnology tools. It allows genetic material to be added, removed, or altered at particular locations in the genome. Genome engineering tools find applications in the treatment of genetic disorders, drug discovery and development, biologics production, agriculture, and more. CRISPR/Cas9 technology, which allows genome editing with a high degree of specificity and efficiency, has revolutionized the field of genome engineering in recent years. With the help of CRISPR/Cas9, also known as a genomic scalpel, researchers can now easily alter DNA sequences and modify gene function.
Global genome engineering market is estimated to be valued at USD 6.71 Bn in 2024 and is expected to reach USD 17.33 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 14.5% from 2024 to 2031.
Key Takeaways
Key players operating in the genome engineering market are Thermo Fisher Scientific, Merck, Horizon Discovery Group, GenScript, Sangamo Therapeutics, and Editas Medicine.
The increasing R&D investments for development of advanced Genome Engineering Market Trends technologies present significant growth opportunities in the market. CRISPR/Cas9 has enabled high-throughput genome-wide screens and is being explored for developing novel therapies.
Advancements in genome engineering techniques such as base editing and prime editing allow permanent alteration of DNA bases without introducing double-stranded breaks. This increases the precision and efficiency of genome editing.
Market drivers
Growing application of genome engineering for genetic disease treatment: Genome engineering tools such as ZFNs, TALENs, and CRISPR/Cas9 are being extensively researched for developing new gene and cell therapies. Several clinical trials are underway to evaluate genome editing to treat genetic disorders such as sickle cell disease, HIV, and cancer. This is a major factor driving increasing adoption of genome engineering processes.
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