Genome Engineering Market Growth Accelerated by Increasing Demand in Healthcare and Agriculture

Genome Engineering Market


Genome engineering technologies are used for modifying cellular DNA and RNA through the use of programmable nucleases. These technologies offer several advantages such as treatment of inherited genetic diseases, development of genetically modified crops with higher yields, and production of therapeutic proteins. Growing applications in the areas of healthcare and agriculture have increased the demand for genome engineering tools.

The global Genome Engineering Market is estimated to be valued at US$ 6.87 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increasing demand for genome engineering in healthcare and agriculture is one of the major trends driving market growth. In the healthcare sector, genome engineering tools are being used for developing therapies for major diseases like cancer. CRISPR gene editing is being extensively researched for developing universal flu vaccines and treatments for genetic disorders. In agriculture, new genome engineering techniques are enabling development of drought-resistant and pest-resistant crop varieties to tackle the challenges of food security. Genome editing of crops can help boost agricultural productivity to meet the growing global demand for food. Development of affordable genome engineering solutions for widespread adoption will further propel the market during the forecast period.

Segment Analysis
The global genome engineering market is dominated by the CRISPR/Cas9 segment. CRISPR/Cas9 is widely used for genome engineering owing to its simplicity, flexibility, and cost effectiveness compared to other genome engineering tools like ZFN and TALEN. CRISPR/Cas9 allows targeted genomic corrections and modifications by introducing double-strand breaks at desired locations, which helps researchers and scientists to engineer genomes of organisms.

Key Takeaways
Global Genome Engineering Market Size is expected to witness high growth over the forecast period of 2024 to 2031, expanding at a robust CAGR of 13%. By 2031, the market size is projected to reach US$ 36.58 billion.

Regional analysis: North America dominates the global genome engineering market currently, accounting for over 35% share. Presence of prominent players and advanced research infrastructure in the US and Canada drives the market growth. Asia Pacific is expected to be the fastest growing region during the forecast period, fueled by rising genomics R&D spending in countries like China and India.

Key players: Key players operating in the genome engineering market are Accenture, Appian Corporation, Genpact, Infosys Limited, Open Text Corporation, Kissflow Inc., Nintex Global Ltd., Software AG, International Business Machines Corporation, Tata Consultancy Services Limited, and Pegasystems Inc. Accenture and Infosys have strategic collaborations with multiple pharma companies to provide digital solutions like genomic data analytics. Genpact and TCS also offer services in areas like clinical trial management and precision medicine.

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