Global Genome Editing/Genome Engineering market demand 2024, Forecast To 2033

The genome editing/genome engineering market size has witnessed rapid growth in recent years, escalating from$7.23 billion in 2023 to$8.57 billion in 2024 at a compound annual growth rate (CAGR) of 18.6%. This growth in the historic period can be attributed to increasing research activities in genetics and genomics, the rise in genetic diseases, advancements in gene therapy, investments in biotechnology and life sciences, potential applications in agriculture, and utilization in model organisms. Looking ahead, the market is anticipated to experience rapid growth, reaching$17.16 billion in 2028 at a compound annual growth rate (CAGR) of 18.9%. Factors contributing to this growth include the emergence of prime editing techniques, focus on ethical and regulatory frameworks, expanding adoption in drug discovery processes, therapeutic potential for treating genetic disorders, customization for gene function studies, and growing interest in epigenome editing. Major trends in the forecast period involve advancements in CRISPR technology, expanding applications in therapeutics, emergence of novel genome editing tools, increased investments and partnerships, development of enhanced delivery systems, and integration of artificial intelligence (AI) in genome editing design.