New York – September 18, 2023- Research Nester’s recent market research analysis on “Genome Editing Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global genome editing market in terms of market segmentation by application, end user, technology, delivery and by region.

Growing Demand for Organ Transplant to Boost the Global Genome Editing Market

The global genome editing market is estimated to grow on account of growing demand for organ transplants, which is further influenced by the rising frequency of chronic diseases. As per a survey, Of the population 50 years and older, the number with at least one chronic disease is estimated to increase by 99.5% from 71.522 million in 2020 to 142.66 million by 2050 Genome editing that results from organ transplantation is linked to chronic disorders such as renal failure, cystic fibrosis, hepatitis, chronic kidney disease, and diabetes. Moreover, players in the genome editing sector should have opportunities as the market for personalized medicine grows. Medical professionals are able to identify a patient's precise needs by employing personalized medicine, and then they may recommend the right medications and therapies. The promise of cost reductions, improved patient compliance, early illness identification, and therapy optimization is driving an increase in the use of personalized medicine worldwide.

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Additionally, a significant element fueling the market's expansion is the ongoing technological progress in gene editing technologies. Government financing is readily available, there is more genomics research underway, and cancer and other genetic illnesses are becoming more common, all of which are anticipated to spur market expansion. The creation of novel CRISPR-based diagnostic tools to lessen the effects of the COVID-19 pandemic is also promoting the expansion of the genome editing sector.

Some of the major growth factors and challenges that are associated with the growth of the global genome editing market are:

Growth Drivers:
• Growing Healthcare Expenditure
• Surge in Oncology Spending
Challenges:
the ethical issues surrounding genetic editing, such as safety and high costs associated with gene therapy, high cost of genome alteration therapies and related treatments, as well as a lack of infrastructure in low- and middle-income countries are some of the major factors anticipated to hamper the global market size of genome editing

By application, the global market for genome editing is segmented into cell line engineering, genetic engineering, drug discovery, gene-modified cell therapy, diagnostics, and others. Out of these segments, the drug delivery segment is also expected to grow besides genetic engineering. The COVID-19 pandemic has brought attention to the potential for the emergence of new diseases. New medications are needed to both cure the symptoms of emerging diseases and stop their spread through vaccination or meditation. Hence, the demand for drug discovery is growing.

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By region, North America is expected to dominate the market for genome editing over the forecast period. driven by the rising prevalence of uncommon diseases in the United States and Canada. More than 7,000 uncommon illnesses impact between 25 and 30 million Americans, according to the National Institutes of Health (NIH). This indicates that one in ten Americans have an uncommon condition. Thus, the adoption of innovative DNA editing methods in these nations is motivated by the growing need to provide effective medications.

Also, the Europe genome editing market is anticipated to grow by the end of 2035. The growing emphasis on personalized treatment is one of the main drivers propelling the expansion of the genome editing market in Europe. Additionally, the rise in disposable income, the sluggish adoption of technology, the high need for animal proteins, and a disorganized regulatory framework across & within nations are all boosting market growth throughout the projection period.

This report also provides the existing competitive scenario of some of the key players of the global genome editing market which includes company profiling of Thermo Fisher Scientific, Merck KGaA, Horizon Discovery Group, Lonza Group AG, Integrated DNA Technologies (IDT), GenScript Biotech Corporation, CRISPR Therapeutics, Sangamo Therapeutics, Editas Medicine, Intellia Therapeutics, and others.

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