"The Gene Editing Therapeutics Market is all about developing advanced treatments that can directly change genes to treat or cure diseases. It's like fixing the root cause of a health issue at the DNA level, offering hope for conditions that were once thought to be untreatable. This market is rapidly growing as these innovative therapies become more widely researched and used."
BOSTON, Nov. 20, 2024 /PRNewswire/ -- "According to the latest study from BCC Research, the demand for Gene Editing Therapeutics is estimated at $11 million in 2024 and is forecast to grow at a CAGR of 147% to reach $1.0 billion by the end of 2029.
This report takes a close look at the current and future possibilities of gene editing treatments and explores the factors that will help or hinder their use. It also examines the competitive landscape, including what therapeutics companies are working on and how they plan to bring new treatments to market. Additionally, it predicts how the market will evolve by 2029 and provides in-depth profiles of key players, including their business focus, financials, and products.
Interesting Facts about the Gene Editing Therapeutics Market
- The gene editing therapeutics market is just getting started, with the first approved treatment, Casgevy, coming to market in the U.K. and U.S. at the end of 2023. This groundbreaking treatment, developed by CRISPR Therapeutics and Vertex, uses CRISPR/Cas9 technology to edit genes.
- Casgevy's reach is expected to increase as it is set to become available for children between the ages of 5-12.
- While most new treatments are still in early development, two promising ones are close to a 2029 market launch: NTLA-2001 and cema-cel.
- There are challenges. Gene therapies are expensive and difficult to manufacture. To address this, some companies are outsourcing production and some are trying to secure government reimbursement for these life-changing treatments for rare diseases.
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Factors contributing to this market's growth include:
- Increasing Prevalence of Chronic Diseases. More and more people are living with long-term health conditions, such as heart disease, diabetes and cancer. This trend is partly due to the world's aging population. In addition, these diseases often require ongoing treatment.
- Increasing Prevalence of Rare Genetic Disorders. More people are being diagnosed with uncommon, inherited health conditions caused by changes in their genes. As medical knowledge and genetic testing improve, researchers will become better at identifying these rare disorders, leading to more cases being recognized and treated.
- Precision Medicine.: This is a tailored approach to healthcare that focuses on treating individuals based on their unique genetic makeup, lifestyle, and environment. Instead of a one-size-fits-all method. Precision medicine provides the most effective treatment for each person, ensuring better outcomes by considering what makes each patient unique.
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Report Synopsis
Report Metrics | Details |
Base year considered | 2023 |
Forecast period considered | 2024-2029 |
Market size forecast | $1.0 billion |
Growth rate | CAGR of 147.0% for the forecast period of 2024-2029 |
Regions covered | North America, Europe and Emerging Markets |
Market drivers | • Increasing prevalence of chronic diseases and rare genetic disorders • Precision medicine |
This report addresses the following questions:
- What are the projections for the market?
The gene editing therapeutics market is estimated at $11 million in 2024 and is forecast to grow at a CAGR of 147% to reach $1.0 billion by the end of 2029. - What factors are driving the growth of the market?
- Increasing prevalence of chronic diseases and rare genetic disorders.
- Need for precision medicine - What segments are covered in the market?
Because only one product has been approved to date, with other products still under development, the market is segmented only by region. - Which region has the highest market share?
North America holds the highest share in the market and will continue to do so through the forecast period.
Market leaders include:
- Allogene Therapeutics
- Beam Therapeutics
- Caribou Biosciences Inc.
- Crispr Therapeutics
- Editas Medicine
- Intellia Therapeutics Inc.
- Precision Biosciences
- Sangamo Therapeutics
- Vertex Pharmaceuticals Inc.
- Verve Therapeutics Inc.
- Vor Bio
More related reports:
Global Market for Cell and Gene Therapy: The worldwide industry that develops and sells treatments that use cells or genes to repair or replace damaged or diseased cells can be thought of like a repair shop for the body, where cells or genes are used to fix or replace faulty ones, helping to cure diseases and improve health. This market includes companies working on these innovative treatments.
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