Genome editing market to surpass USD 14.5B by 2035

The global genome editing market is estimated to be worth over USD 3.5 billion in 2023 and is poised to reach USD 14.5 billion by 2035, it is anticipated to grow at a compound annual growth rate (CAGR) of 12.6% during the forecast period (2023-2035).

Genome editing is a genetic engineering technique that allows the modification of genes or a set of genes by deletion, insertion, or replacement of genes inside genomic sequences. The technique is useful for treating genetic disorders such as sickle cell and autoimmune diseases. Due to gene editing tools’ potential to correct genetic functions, several pharmaceutical companies are using genome editing to develop gene-based therapies. Genetic-based therapeutics such as CRISPR technology have garnered significant attention in recent years. Pharmaceutical companies have been employing gene editing technologies to ensure genome therapies’ efficacy, precision, and safety. Driven by the ongoing trend of genetic-based therapies and increasing demand for genome editing tools, it is expected that the genome editing market will grow substantially during the forecast period, and the trend remains unchanged in the upcoming years.

Market drivers
The genome editing market is likely to grow during the upcoming years due to the increasing demand for genome editing tools and technology. Several other factors drive the market, including the increasing usage of genome editing applications for developing personalized medicines and forensic science. Moreover, genome editing technology is broadly used in drug discovery and treatment of human genetic disorders. Driven by the growing usage of genome editing applications, the genome editing market is expected to grow during the upcoming years.

Market restraints
Some market restraints that restrict the growth of the genome editing market include the off-target effects of CRISPR technology and gene therapies. Though gene-based therapies help correct genetic defects with precise targeting, they may cause unintended modifications and off-target effects. It can lead to side effects and potential risks that hinder the treatment. Additionally, the cost associated with the development of genome editing technology further restrains the market in the upcoming years. Therefore, pharmaceutical companies have to bring advancements in genome editing technology to mitigate the problem of off-target effects.

Growth factors
Despite several market restraints, the expanding research pipelines for genetic therapies that involve genome editing tools represent significant opportunities for driving the market in the future. Gene-based therapies involve gene editing tools to make precise cuts at the targeted sites to correct genetic diseases and restore normal function. The increasing number of gene therapies and the requirement for genome editing tools will drive the market in the upcoming years.

Key companies profiled
The market report also includes a detailed profile of the key players (listed below) that offer genome editing tools, including:

• Arcturus Therapeutics
• Avectas
• Beam Therapeutics
• Bio-Sourcing
• Caribou Biosciences
• Century Therapeutics
• CRISPR Therapeutics
• EdiGene
• Editas Medicine
• Flash Therapeutics
• Fortgen
• G+FLAS Life Sciences
• Graphite Bio
• Intellia Therapeutics
• Ntrans Technologies
• OXGENE
• Prime Medicine
• Revvity (formerly known as Horizon Discovery)
• TargetGene Biotechnologies
• Vor Biopharma
• ZeClinics

Roots Analysis