According to our new research study on “Genome Editing Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Technology, Application, and End User,” the market is expected to grow from US$ 5.19 billion in 2021 to US$ 16.98 billion by 2028; it is estimated to grow at a CAGR of 18.4% during 2021–2028.  Factors contributing to the growth of the market that are the rising prevalence of cancer, growing rate of genetic disorders, and rapidly growing research and development initiatives around gene editing tools and techniques.

According to the World Health Organization (WHO), cancer is the biggest cause of death worldwide, with approx. 10 million deaths in 2020. Overall, the global burden of cancer incidence and death is rapidly increasing, reflecting both population aging and growth, as well as changes in the prevalence and distribution of the key risk factors, many of which are related to socio-economic development. As per the recent estimates from CANCER TODAY, the incidence of cancer has been increasing at an alarming rate, making hepatocellular carcinoma (HCC) the fifth most common cancer in men and the seventh most common cancer in women.

The HCC is known to be the second leading cause of cancer-related deaths worldwide. Almost 85% of HCCs occur in developing countries. Due to the advancement in human genomics from last two decades, researchers have discovered that cancer is caused by somatic aberrations in the host genome. This discovery has incited enthusiasm among cancer researchers. Many now use therapeutic approaches in genetic manipulation to improve cancer regression and find a potential cure for the disease. 

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Thermo Fisher Scientific Inc., Merck KGaA, Lonza, Horizon Discovery Group plc. Integrated DNA Technologies, GenScript, New England Biolabs, Eurofins Scientific, CRISPR Therapeutics, and Editas Medicine are among the leading companies operating in the genome editing market.

The genome editing market, by technology, is segmented into CRISPR, TALEN, antisense, and other. The CRISPR segment held the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market during the forecast period. The market growth for this segment is attributed to the incumbent usage of CRISPR, high volume consumption, and product innovation. 

Based on technology, the genome editing market is segmented into CRISPR, TALEN, antisense, and other. Based on application, the market is segmented into cell line engineering, genetic engineering, diagnostic applications, drug discovery, and others. Based on end user, the genome editing market is segmented into pharmaceutical and biotechnology companies, academic and research institutes, and clinical research organizations (CRO's). 

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