Growth in the gene editing market is fueled by increasing demand for synthetic genes in the U.S. Genomics can be used to identify genetic abnormalities in humans, drug discovery, agriculture, veterinary medicine, and forensics. Gene editing requires tools and techniques that make unique changes to the DNA sequence of an organism's genes, fundamentally altering the genetic blueprint. Unlike genetic engineering, which randomly incorporates genetic material into the host genome, gene editing aims to make changes at specific target locations.
Genome editing technology is a technique for target gene modification that allows the knockout and addition of specific fragments of DNA. This technique is widely used in biomedical research, clinics, and agriculture. A growing preference for personalized medicine, rare disease treatment research, rising R&D spending and growth in the pharmaceutical and biotech industries, rapid advances in sequencing and genome editing technologies, and increasing use of products derived from genetically modified organisms. These are some of the factors that are boosting the growth of the U.S. gene editing market.
Market Opportunities & Trends
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Emergence of Novel Gene Editing Tools
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Use of Gene Editing in Personalized Medicine
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Increased Pharma/Biotech, Venture Capital & Government Funding for Gene Editing Projects
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High Number of Gene Editing-Based Investigational Drugs
Market Growth Enablers
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Advances in Genome Editing Platforms
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Large Target Population With Rare Genetic Disorders
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Demand for Gene Editing in Drug Discovery & Development
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Diverse Applications of Gene Editing
Market Restraints
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High Cost & Time Involved in Gene Editing
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Technical Challenges Related to Gene Editing
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Ethical & Safety Concerns Associated With Gene Editing
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