Base Editing Market Size To Reach USD 681.24 Million By 2030 |...

Base Editing Market Size To Reach USD 681.24 Million By 2030

Posted 2024-08-27 10:43:27

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Base Editing Market Growth & Trends

The global base editing market size is anticipated to reach USD 681.24 million by 2030 and is anticipated expected to expand at a CAGR of 14.63% during the forecast period, according to a new report by Grand View Research, Inc. Increased government funding, a growing focus on genomic studies, and the rising prevalence of rare diseases contribute to market growth. Moreover, the increased application of genomic research in therapeutics to cure chronic and rare diseases, immunodeficiency, and cardiovascular disorders is expected to drive market growth further.

The increased application of genomic research in therapeutics has significantly advanced the field of medicine, leading to more personalized and effective treatments for various diseases. CRISPR-based genome editing technology has been applied to precise genome editing techniques such as base editing. Base editing allows for the targeted conversion of one base pair to another without generating double-strand breaks. Furthermore, Using CRISPR-based genome editing technology, creating animal models of human diseases has become more accessible, faster, and more flexible. The application of base editing in monkeys has shown promising results in genetic research and potential therapeutic interventions. Recent research has shown that base editing technology can be used in monkeys to study the causes and treatment of STXBP1 encephalopathy. The successful outcomes demonstrate that this technology is effective in creating effectively creates primate models of human genetic disorders.

The COVID-19 pandemic has significantly impacted the base editing market, leading to an increased emphasis on genomic studies and gene editing technologies. The global healthcare crisis has highlighted the significance of advanced medical solutions, resulting in a surge of interest and investment in technologies such as base editing, which have the potential to revolutionize healthcare treatments. Moreover, the pandemic has increased the emphasis on precision medicine and targeted therapies. Base editing technologies enable precise modifications at the DNA or RNA level, allowing for tailored treatments for specific genetic diseases. This aligns with the growing trend towards personalized medicine for effective and targeted intervention.

However, similar to like other genome editing techniques, safety is one of the primary ethical concerns with base editing technology is safety. The potential for off-target effects and unintended consequences due to inaccuracies in the editing process raises significant safety issues. In the case of base editing, ensuring the accuracy and specificity of edits is crucial to prevent unintended mutations that could have harmful effects on harm an organism or future generations.

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Base Editing Market Report Highlights

Products segment dominated the product & services segment in 2023 owing to the launch of innovative products and platforms in cell and gene therapeutics.
The Pplatform segment dominated the product segment with the largest revenue share of 44.82%, as base editing platforms enable precise single-base changes in genomic DNA
In 2023, drug discovery & development dominated the application segment and held the largest market share of 52.08%, and is expected to grow at the highest CAGR over the forecast period.
In 2023, the DNA base editing dominated the type segment, and is expected to grow at the highest CAGR of 15.39% from 2024 to 2030.
Pharmaceutical & biotechnology companies segment dominated the end-use market with the largest share in 2023, driven by new product launches and research activities in the field of genomics.
North America region dominated the base editing market with a share of 40.26%, owing to factors such as the increasing funding for research & development, government support for quality healthcare, etc..
Market players operating in the base editing market include Danaher; ElevateBio; Merck KGaA; Revvity; Maravai LifeSciences; GenScript; Beam Therapeutics; Intellia Therapeutics, Inc.; Cellectis; Creative Biogene; Bio Palette Co., Ltd

Base Editing Market Segmentation

For the purpose of this report, Grand View Research has segmented the base editing market on the basis of based on product & services, application, type, end-use, and region:

Base Editing Products & Services Outlook (Revenue, USD Million, 2018 - 2030)