Global Gene Editing Technologies Market to Reach $16.37 Billion by 2032 - Exclusive DeepTech M-A-P™ Analysis by BIS Research
The increased demand for treatments is fuelling the expansion of gene editing technology manufacturers and providing them with numerous opportunities to spread out across different regions and improve their market presence.
FREMONT, Calif., May 18, 2023 /PRNewswire/ -- BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Gene Editing Technologies Market - A Global and Regional Analysis.
According to this study, the global gene editing technologies market was valued at $1.81 million in 2022 and is projected to reach $16.37 billion by 2032, growing at a CAGR of 27.50%.
The following factors are responsible for the increase in demand for gene editing technologies:
- Introduction of new technologies fuelling the growth of gene editing technologies
- Increasing investments and funding opportunities in the gene editing space
- Increased demand for personalized medicines
The detailed study is a compilation of 15 market data tables and 190 figures spread across 240 pages.
Check Out the Detailed Table of Contents Here
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Analyst's Take on the Market Projection
According to Akash Mhaskar, Principal Analyst, BIS Research, "The global gene editing technologies market is flourishing with the advent of time and the introduction of new technologies in the gene editing industry. There is constant ongoing research for the development of novel gene editing technologies. The global gene editing technologies market has witnessed a steady growth in the number of new entrants and investments in gene editing technologies, thereby driving a surge in demand for gene editing products. This trend is also expected to continue over the forecast period. Therefore, the impact of the aforementioned factors is expected to drive the global gene editing technologies market in the near future."
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Gene Editing Services Segment Expected to be the Fastest-Growing Segment
Based on the offering, the global gene editing technologies market is segmented into gene editing products and gene editing services. Gene editing products comprise kits and enzymes, antibodies, libraries, and accessories. Kits and enzymes are then further sub-segmented into CRISPR and non-CRISPR, and subsequently, CRISPR is then categorized into vector-based cas9 and DNA-free cas9.
Gene editing services cover proprietary technologies used for the development of gene therapies as well as custom construct preparation, library preparation, and other custom gene services.
The gene editing products segment held the larger share in the global gene editing technologies market at $1.11 billion compared to the gene editing services segment, which was valued at $0.70 billion in the year 2022. However, the gene editing services segment is expected to be the fastest-growing segment, with a CAGR of 27.89% in the forecast period 2023-2032.
Major Industry Leaders in the Global Gene Editing Technologies Market
The companies profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are as follows:
- 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.
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 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.
- 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.
- 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. The nuclease 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.
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BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them with specific and actionable insights on novel technology markets, business models, and competitive landscapes.
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