Global Gene Editing Technologies Market to 2032: Increased Demand for Personalized Medicines Fuels the Sector - ResearchAndMarkets.com

The "Gene Editing Technologies Market - A Global and Regional Analysis: Focus on Offering, Technology, Application, End User, and Region - Analysis and Forecast, 2023-2032" report has been added to ResearchAndMarkets.com's offering.

The global gene editing technologies market was valued at $1.81 billion in 2022 and is anticipated to reach $16.37 billion by 2032, witnessing a CAGR of 27.50% during the forecast period 2023-2032.

The growth in the global gene editing technologies market is expected to be driven by an increase in the need for personalized medicine. In addition, the introduction of new technologies fuelled the growth of gene editing technologies.

The global gene editing technologies market is in progressing phase. The creation, production, and distribution of tools and services for gene editing are under the purview of the gene editing technology market. Utilizing ways to change DNA sequences, gene editing technologies can be used to treat genetic illnesses, create disease-resistant crops, and generate study models for animals.

The market for gene editing technology is made up of numerous businesses that sell CRISPR-Cas9, TALENs, and zinc finger nucleases, among other types of gene editing tools. Researchers, pharmaceutical corporations, and biotech companies employ these techniques to create novel treatments, vaccines, and diagnostic devices.

Moreover, manufacturers began to produce application-specific gene editing technologies in recent years.

Clustered regularly interspaced short palindromic repeats Cas9 (CRISPR-Cas9) and other gene editing technologies have the potential to revolutionize the healthcare sector and have a big impact on the world economy. Treatments for genetic problems and diseases such as cancer, HIV, and cystic fibrosis may become more accurate and successful because of gene editing technology.

This might result in lower healthcare expenses and better patient outcomes. New intellectual property rights could be established because of the advancement of gene editing technologies, which would lead to a sharp rise in the number of patent applications.

Recent Developments in the Global Gene Editing Technologies Market

• In March 2023, Seamless Therapeutics launched with $12.5 million seed financing to advance a transformative gene editing platform based on programmable precision designer recombinases.
• In June 2022, Precision BioSciences, Inc. entered into an exclusive worldwide in vivo gene editing research and development collaboration and license agreement with Novartis AG to develop a custom ARCUS nuclease that would be designed to insert, in vivo, a therapeutic transgene at a "safe harbor" location in the genome as a potential one-time transformative treatment option for diseases including certain hemoglobinopathies such as sickle cell disease and beta-thalassemia.
• In March 2023, Intellia Therapeutics, Inc. announced that the U.S. Food and Drug Administration (FDA) approved the Investigational New Drug (IND) Application for NTLA-2002. This was an in vivo investigational therapy based on CRISPR, intended for the treatment of Hereditary Angioedema (HAE).
• In April 2022, Thermo Fisher Scientific Inc.'s latest Gibco CTS TrueCut Cas9 Protein, manufactured under Good Manufacturing Practices (GMP), facilitates genome editing for both research and manufacturing purposes, including research on CAR T-cell therapy.
• In November 2022, Ionis Pharmaceuticals, Inc. and Metagenomi announced a collaboration that may bring together Ionis' extensive knowledge in RNA-targeted therapeutics with Metagenomi's versatile next-generation gene editing systems. The aim of this collaboration was to pursue both established and new genetic targets that may offer the potential for expanding treatment options for patients.

Key Attributes:

Market Dynamics

Drivers

• Introduction of New Technologies Fuelling the Growth of Gene Editing Technologies
• Increasing Investments and Funding Opportunities in Gene Editing Space
• Increased Demand for Personalized Medicines

Restraints

• Limited Expertise and Facilities for Gene Editing Technologies
• Ethical Considerations and Their Consequences Regarding Human Gene Editing

Opportunities

• Increasing Numbers of Clinical Trials Utilizing Gene Editing Technologies for the Treatment of Genetic Diseases
• Growing Applications of Gene Editing Technologies in Agri-Food Tech

Key Companies Profiled

• Addgene
• BRAIN Biotech AG
• Cellectis S.A.
• Creative Biolabs
• CRISPR Therapeutics AG
• Danaher Corporation
• DNA Script
• GeneCopoeia, Inc.
• Magento, Inc.
• Merck KGaA
• New England Biolabs, Inc.
• PerkinElmer Inc.
• Precision BioSciences, Inc.
• Sangamo Therapeutics, Inc.
• Takara Bio Inc.
• Thermo Fisher Scientific Inc.

Market Segmentation

by Offering

• Gene Editing Products
• Gene Editing Services

Based on offering, the gene editing products segment in the global gene editing technologies market dominated in FY2022.

by Technology

• CRISPR Gene Editing Technology
• Non-CRISPR Gene Editing Technology

Based on technology, the global gene editing technologies market was dominated by the CRISPR gene editing technology segment in FY2022.

by Application

• Agriculture
• Biomedical

Based on application, the biomedical segment accounted for the largest share of the global gene editing technologies market in FY2022.

by End User

• Academic Institutes and Research Centres
• Life Sciences Companies
• Contract Research Organizations (CROs)/ Contract Manufacturing Organizations (CMOs)

Based on end user, the global gene editing technologies market is dominated by the life sciences companies segment in FY2022.

For more information about this report visit https://www.researchandmarkets.com/r/xyr0uz

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230517005468/en/