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Genome Editing Market size was valued at USD 4.81 billion in 2021 and is poised to grow from USD 5.88 billion in 2022 to USD 36.06 billion by 2030, growing at a CAGR of 22.3% in the forecast period (2023-2030).

The market's various competitors are challenged to provide innovative offerings that enable communication in addressing changing technologies, business practices, and security needs. Partnerships, strategic mergers, and acquisitions are expected to be the most effective ways for industry players to gain quick access to emerging markets while also improving technological capabilities. Custom vectors for cell line editing and engineering are provided by well-established companies such as Merck KGaA and Thermo Fisher Scientific. Such services are anticipated to grow in the coming years, fueling revenue growth. Contract manufacturers would benefit from the rapidly increasing demand from gene therapy Genome Editing Market players. 'Thermo Fisher Scientific Inc.', 'CRISPR Therapeutics AG', 'Editas Medicine, Inc.', 'Intellia Therapeutics, Inc.', 'Sangamo Therapeutics, Inc.', 'Precision Biosciences, Inc.', 'Cellectis S.A.', 'Merck KGaA', 'Lonza Group AG', 'Horizon Discovery Group plc', 'Genscript Biotech Corporation', 'Agilent Technologies, Inc.', 'New England Biolabs, Inc.', 'Takara Bio, Inc.', 'Synthego Corporation', 'OriGene Technologies, Inc.', 'Genewiz, Inc.', 'Eurofins Scientific SE', 'Bio-Rad Laboratories, Inc.', 'Qiagen N.V.'

Governments in various countries around the world have made significant investments in the field of genomics in recent years, which has played a significant role in the development of new technologies in genome editing. Furthermore, the availability of government funding has enabled academic and government institutes to conduct in-depth genome editing/engineering research. For instance, in March 2020, the Ministry of Innovation, Science, and Industry (Science) announced a USD 15 million grant to Genome Canada to support 11 genomic research projects in the health, agriculture, and environment sectors. Provincial governments, businesses, and research partners will also contribute to these projects, with a total investment of USD 29.7 million. Ovarian and cervical cancer research is among the projects. The number of genomics research projects has increased significantly as a result of significant government investments in genomics. As a result, the genome editing market is expected to grow during the forecast period.

The COVID-19 pandemic has prompted major pharmaceutical and biotechnology firms, as well as players in the genomic market, to invest in vaccine research and development. The increased demand for vaccines and antiviral candidates has pushed genome editing/engineering technologies to the forefront, these factors are expected to drive the Genome Editing Market in the upcoming years.

North America dominated the genome editing market in 2021, accounting for 38.4% of total revenue. The dominance of the Genome Editing Market in the region is due to the availability of strong research, as well as a commercial base for advanced therapeutic development, as well as a large number of clinical studies being undertaken for gene and stem cell therapies in the region. On the other hand, the market in the Asia Pacific is expected to expand at a rapid rate over the projected period. China unveiled its 10 most significant agricultural breakthroughs in November 2020, one of which was gene-editing technology, demonstrating strong Genome Editing Market penetration.

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Global Genome Editing Market

Product ID: SQSG35J2001