Genome Engineering Market Size, Share, Growth, Trends, and Global Industry Analysis: By Technology (CRISPR, ZFN, TALEN), By Application (Cell Line Engineering, Genetic Engineering, Others), By End-use (Pharmaceutical & Biotechnology Companies, Academic & Research Institutions, Others) and Region

Genome Engineering Market size was valued at US$ 5,105.20 million in 2023, growing at a CAGR of 14.2% from 2024-2030. Genome editing is a technique for making precise alterations to a cell's or organism's DNA. It is used to change DNA in a cell in a precise and efficient manner. Genome editing entails using enzymes known as designed nucleases to cut specific DNA sequences. Genome editing can also be used to remove, add, or change DNA in the genome, and it is commonly employed in research and treatment. AIDS, leukemia, and numerous viral and genetic illnesses are among the therapy conditions. Gene editing is another name for genome engineering. Homologous recombination is anticipated to be utilized as an efficient technology for crop improvement. An increase in the number of genomics projects and government funding facilities will drive the market growth. The high price of genome engineering therapies is anticipated to hit the growth of the genome engineering market during the forecast period particularly in rising countries such as South Africa, India, and Brazil.

This therapy involves using a complex technology and requires expert researchers, which in turn limits the market growth. Several notable developments are observed in the genome engineering market as companies have adopted crucial strategies like collaboration, partnership, agreement, and acquisition. Key players have also adopted some crucial strategies like approvals, product expansion, and product launch, which allows them to maintain their position in the market and also increase their overall customer base. Growth factors driving the genome editing market in upcoming days are increase in funds by government in different regions, government support for the academic institutes to increase research activities for genome editing, and a huge increase in funding. Increasing cancer cases, growth of pharmaceutical companies, fast advancements, and increase in public sector funding are some significant factors that boost the genome engineering market.