GENOME EDITING MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 The increasing prevalence of cancer and other genetic disorders, growing preference for personalized medicine, increase in private and public sector funding, and rapid advancements in sequencing and genome editing technologies are some of the factors propelling the growth of the genome editing market. According to the National Center for Advancing Translational Sciences updates form June 2022, the Somatic Cell Genome Editing (SCGE) Program at the National Institutes of Health (NIH) has awarded 24 more grants to researchers across the United States and Canada. The SCGE Program has awarded a total of USD 89 million in advance genome editing grants, over the next four years. This brings the total number of projects supported to 45, with approximately USD 190 million in funding spread out over six years. Such grants from the national institutes help to boost the market over the forecast period. Additionally, in May 2020, Rice University researchers have been awarded a four-year, USD 2.45 million grant from the National Institutes of Health (NIH) to support the development of a gene-editing treatment for sickle cell disease (SCD). The R01 grant, funded by the National Institutes of Health, aims to advance a method of modifying the stem cells responsible for producing damaged blood cells in SCD patients. The increase in research grants is expected to surge the research studies for genome editing which is expected to boost the growth of the studied market over the forecast period.

The rise in funding and initiatives by the government to develop vaccines, medical technologies, drugs, and devices are further propelling the growth of the genome editing market globally. Additionally, the research studies conducted for CRISPER technology are another factor for the market's growth. According to the study titled “CRISPR-Cas9 Gene Editing for Sickle Cell Disease and β-Thalassemia” published in the New England Journal of Medicine in January 2021, CRISPR-Cas9-based gene editing is being tested to treat two cases of inherited diseases: one in a patient with TDT (β-Thalassemia) and the other in a patient with SCD (Sickle Cell Disease). During the 12 months following the administration of CTX001, both patients experienced early, substantial, and sustained increases in fetal hemoglobin levels with more than 99% pancellularity. Thus, the application of CRISPR technology in Sickle Cell Disease and β-Thalassemia is expected to rise its demand over the forecast period.

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