Genome Editing Market Will Reach 20,397.8 Million by 2030

As stated by a market research firm, P&S Intelligence, the total size of the genome editing market was USD 5,412.9 million in 2022, which will touch USD 20,397.8 million by 2030, powering at a rate of 18% in the years to come.

There is a wide variety of features of genomics, for example agribusiness, drug research, forensics, veterinary sciences, and the identification of human genetic abnormalities, that are receiving strong focus from government as well as private biotech agencies. With NGS, the usage of genomics in forensics has significantly increased.

Furthermore, the usage of genome editing in marine engineering for the formation of nutraceuticals from algae is one of the developing trends. and Forensic sciences and personalized medicine are two other important areas where genomics is proving significant.

Based on application, the genome editing market is categorized into animal genetic engineering, cell line engineering and plant genetic engineering, amongst which the cell line engineering had the largest share, of about 50%, in 2022.

North America dominated the genome editing market, about 45%, in 2022. Furthermore, because of the expansion of gene therapy, increasing usage of genetically adapted crops, and easy obtainability of research funding, the region will contribute significantly to companies providing services and tools for gene editing.

Due to the increasing pace of tech advancements in genomics, it has powered the demand for genome editing all over the world.

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