(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Feb. 13, 2024 (GLOBE NEWSWIRE) -- The "Global Base Editing Market by Product (Platform, Reagents & Kits, Plasmids), Service (gRNA Design, Cell Line Engineering), Type, Targeted Base (Cytosine, Adenine), Application (Drug Discovery, Agriculture, Veterinary), and Region - Forecast to 2028" report has been added to ResearchAndMarkets's offering.
The global base editing market is experiencing a significant surge, with projections indicating a reach of USD 549 million by 2028, advancing at an impressive compound annual growth rate (CAGR) of 15.2%.
Recent research highlights the expansion of the market from an estimated USD 270 million in 2023, driven by the escalating demand for advanced genetic therapies and precision medicine. This surge is further bolstered by innovative molecules engineered to tackle rare genetic disorders and enhance the yield in genetically modified crops.
The comprehensive research study has categorized the market by multiple segments, including product & service, type, targeted base, application, and region. A detailed competitive assessment provides insights into major players in the marketplace, reflecting the strategies and recent developments shaping the industry's landscape.
In 2022, the platform segment emerged as the predominant contributor in terms of products & services, demonstrating comprehensive end-to-end solutions. These platforms encapsulate the full spectrum of the workflow-from the design phase of guide RNAs to the delivery of base editors into target cells-thereby simplifying experimental processes and underpinning their widespread adoption.
Regionally, North America has continued its dominance in this space through 2022 and is anticipated to maintain its lead through 2028. The region's embrace of advanced gene editing technology is sustained by a strong emphasis on personalized medicine, precision therapeutics, and addressing genetic disorders. Skilled professionals in molecular biology, genetics, and biotechnology support this trend and enhance North America's capacity to spearhead the development and utilization of cutting-edge genomic editing technologies.
The report also provides a thorough understanding of the driving forces behind the market's growth, including enhanced governmental funding for genomics studies, the escalating application of genomics in the pharmaceutical industry, the growing prevalence of rare diseases, and base editing tools offering higher precision with reduced off-target effects.
| Report Attribute
| No. of Pages
| Forecast Period
| 2023 - 2028
| Estimated Market Value (USD) in 2023
| $270 Million
| Forecasted Market Value (USD) by 2028
| $549 Million
| Compound Annual Growth Rate
| Regions Covered
Analysis of key drivers influencing the growth of the base editing market. Product Development/Innovation: Insights on cutting-edge products introduced in the base editing space. Market Development: In-depth analysis of profitable markets and an examination of market expansion across various regions. Market Diversification: Comprehensive insights into new products, untapped regions, recent industry developments, and base editing market investments.
Key Features and Benefits of the Base Editing Market Report:
Detailed analysis of market drivers, restraints, opportunities, and challenges. Insights on newly launched products and an evaluation of their impact on the market. Comprehensive information about high-potential markets for strategic planning. Exhaustive information about innovations, untapped markets, developments, and investments in the base editing arena. Insightful assessment of industry players that shapes the competitive market scenario.
Addgene Beam Therapeutics Bio Palette Co. Ltd. Cellectis Creative Biogene Danaher Corporation Edigene Inc. Elevatebio Genkore Genscript Intellia Therapeutics, Inc. Kromatid, Inc. Maravai Lifesciences Merck KGaA Pairwise Proqr Therapeutics Qi-Biodesign Technology Revvity Shapetx Synthego
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Global Base Editing Market
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