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Genome Editing Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology, Application, and End User - ResearchAndMarkets.com

·3-min read

DUBLIN, February 28, 2022--(BUSINESS WIRE)--The "Genome Editing Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology, Application, and End User" report has been added to ResearchAndMarkets.com's offering.

The genome editing market is projected to reach US$ 16,986.69 million by 2028 from US$ 5,199.40 million in 2021; it is expected to grow at a CAGR of 18.4% from 2021 to 2028.

Over the past few years, advances in genome editing technologies have been making constant headlines. Genome editing technologies can alter biological research and significantly impact human health, food security, and environmental sustainability since they are precise, relatively inexpensive, easy to use, and remarkably powerful.

The advances in genome editing can be traced back to quiet beginnings in the 1990s. The introduction of CRISPR-Cas9 - a genome-editing tool that can be used to make precise and targeted changes in the DNA sequence with ease - is mainly responsible for the recent rise in the amount and scope of applications of genome editing technologies.

The CRISPR platform's ease of use, as compared to previous technologies, has resulted in its widespread adoption and application. Genome editing could have a favorable impact on sustainable development, environmental management, food security, and the introduction of affordable diagnostics and therapies for various diseases due to these advancements.

A team from MIT and Harvard's Broad Institute has developed a novel CRISPR genome-editing technique that has the potential to fix up to 89% of disease-causing genetic abnormalities. CRISPR-Cas9 and reverse transcriptase, two of the most significant proteins in molecular biology, have been merged into a single machine by researchers. Prime editing is a method that can alter human cells directly in a precise, efficient, and highly versatile manner.

They have also developed a CRISPR RNA-cutting enzyme into an antiviral agent that can be programmed to detect and eliminate RNA-based viruses in human cells. The Cas13 enzyme has previously been used to cut and alter human RNA and as a diagnostic approach for detecting the presence of viruses, bacteria, and other targets. This is one of the first studies to use Cas13, or any CRISPR system, as an antiviral in human cells in culture.

Recognizing the potential of genome editing techniques for studying and manipulating the genome., the Department of Biotechnology (DBT), Govt. of India has been fostering research and innovation in genome engineering technologies and applications to make them more accessible and inexpensive for research and development ( R&D).

Through focused calls for proposals in different areas such as the development of new methods, tools, processes, and platforms for genome editing, improvement of existing genome-editing methods, and novel applications of genome editing technologies in agriculture, bioenergy, environmental research, and human health, efforts have been made to encourage R&D programs in emerging genome engineering technologies and their applications.

Key Market Dynamics

Market Drivers

Rise in Prevalence of Cancer and Other Genetic Disorders

Continuous Technological Advancements in Gene-Editing Tools

Market Restraints

High Cost of Genomic Equipment

Market Opportunities

Developing Biotechnology Industry in Emerging Regions

Future Trends

Technological Innovations

Companies Mentioned

  • Thermo Fisher Scientific Inc.

  • MERCK KGaA

  • Lonza

  • Horizon Discovery Group plc.

  • Integrated DNA Technologies

  • GenScript

  • New England Biolabs

  • Eurofins Scientific

  • CRISPR Therapeutics

  • Editas Medicine

For more information about this report visit https://www.researchandmarkets.com/r/4xajw

View source version on businesswire.com: https://www.businesswire.com/news/home/20220228005919/en/

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