Base Editing Market To Increase By USD 307.66 Million, 13.51% YOY Growth Expected In 2024 - Technavio

NEW YORK, Jan. 24, 2024 /PRNewswire/ -- The base editing market value is anticipated to grow by USD 307.66 million, progressing at a CAGR of 15.1% and a YOY growth rate of 13.51% during the forecast period.

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The increase in applications of genome editing in therapeutics is a key factor driving growth. The rise in chronic and infectious diseases like malaria, tuberculosis, HIV/AIDS, and hepatitis has led to research on gene-based therapies to reduce morbidity and mortality among HIV-infected patients. Base editing and CRISPR technologies are being explored to develop therapeutic tools and anti-retroviral therapies, targeting host factors like the CCR5 co-receptor to inhibit HIV cellular entry.

The technological advancement in genome editing tools will have a positive impact on the growth of vendors. On the other hand, the lack of trained laboratory professionals is expected to reduce the growth potential.

The report includes information on the product launches, sustainability, and prospects of leading vendors including Beam Therapeutics Inc., Bio Palette Co. Ltd., Cellectis SA, Creative Biogene, Danaher Corp., EdiGene Inc., ElevateBio, Genkore Co. Ltd., GenScript Biotech Corp., Horizon Discovery Ltd., Intellia Therapeutics Inc., KromaTiD Inc., Maravai LifeSciences Holdings Inc., Merck KGaA, Pairwise Plants Services, PerkinElmer Inc, ProQR Therapeutics NV, QI Biodesign Biotechnology Co. Ltd., Shape Therapeutics Inc., and Synthego Corp..

The competitive scenario provided in report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.

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Based on the Application, the market is classified into Drug discovery and development, Agriculture, and Veterinary. The drug discovery and development segment is estimated to witness significant growth during the forecast period. The segment is growing due to increased R&D spending in the pharmaceutical and biotechnology industry, focusing on molecular biology for drug discovery. Biotech and pharmaceutical firms are investing heavily in genetic disease research and neurological disorder treatments, further driving growth in drug discovery and development.

Based on Geography, the market is classified as North America, Europe, Asia, and the Rest of the World (ROW). North America is estimated to contribute 35% to the growth during the forecast period. The region's growth is driven by substantial R&D investments in gene therapy, particularly in the US. The region, especially the US, shows promise in base editing with numerous clinical trials for cancer, HIV/AIDS, and other diseases. Additionally, cancer rates have risen significantly in North American countries.

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Applications and Considerations in Base Editing Technology

Base editing, a form of genome editing, involves the use of CRISPR-Cas9 technology, adenine base editors (ABE), cytosine base editors (CBE), guide RNA (gRNA), and DNA repair mechanisms to achieve precise changes in the DNA. This approach has potential applications in gene therapy, precision medicine, biotechnology, gene drives, oncology, and agricultural biotechnology. It is subject to considerations of off-target effects, safety, ethics, regulatory frameworks, and intellectual property, with ongoing research and development, clinical trials, and investment shaping the evolving patent landscape in biopharmaceuticals and genetic disorders. Delivery systems like viral vectors play a crucial role in enabling in vivo and ex vivo editing. Additionally, genome sequencing informs the therapeutic applications of base editing.

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The global genomics market size is estimated to grow by USD 5.21 billion at a CAGR of 3.16% between 2023 and 2028.

The global red biotechnology market size is estimated to grow by USD 174.56 billion at a CAGR of 6.23% between 2023 and 2028.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Sizes

Five Forces Analysis

Segmentation by Application

Segmentation by Type

Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential and assess their competitive positions within changing scenarios.

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SOURCE Technavio

First published on Thu, Jan 25, 2024

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