Base Editing Market to Experience Strong Growth, Reaching $549 Million by 2028
Base Editing Market to Experience Strong Growth, Reaching $549 Million by 2028
The base editing market is projected to reach USD 549 million by 2028 from an estimated USD 270 million in 2023, at a CAGR of 15.2%

Base Editing Market

The Base Editing Market Report highlights significant growth, with the market expected to expand from $270 million in 2023 to $549 million by 2028, at a CAGR of 15.2%. The study includes an analysis of industry trends, pricing, patents, and key market stakeholders. The rising incidence of genetic disorders and the increased demand for precise gene editing technologies are major growth drivers.

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Based on product & service, the base editing market is segmented into products and services. The product segment is further categorized as platform, kits & reagents, plasmids, and base editing libraries. The service segment is further categorized as gRNA design/synthesis, cell line engineering, and other services. Platform accounted for the largest share of the global base editing market in 2022. The large share of this segment can primarily be attributed to the increasing demand for base editing in molecular studies and the discovery of new therapies.

Based on type, the global base editing market is segmented into DNA base editing, and RNA base editing. In 2022, DNA-targeted base editing accounted for the largest share of the base editing market. The large share of this segment can be attributed to the factor that DNA base editing leads to changes in the genomic DNA sequence, making the edits permanent. This can be advantageous when long-lasting or heritable modifications are desired, as the edited DNA is passed on to subsequent generations of cells.

Based on targeted base, the base editing market has been segmented into cytosine base editing, and adenine base editing. In 2022, cytosine base editing accounted for the largest market share because cytosine base editors (CBEs) are designed to convert a C-G base pair to a T-A base pair. This type of transition is more common in naturally occurring DNA sequences, making cytosine editing suitable for introducing changes that are biologically relevant.

Based on application, the base editing market has been segmented into drug discovery & development, agriculture, and veterinary. In 2022, the drug discovery & development segment accounted for the largest share of the base editing market. The large share of this segment can be attributed to the potential of base editing for developing novel therapeutic interventions by correcting disease-causing mutations at the DNA or RNA level. This is especially relevant for genetic disorders where a single nucleotide mutation is responsible for the disease.

Based on end users, the base editing market has been segmented into pharmaceutical & biotechnology companies, academic research institutes, and contract research organizations. In 2022, the pharmaceutical & biotechnology segment accounted for the largest share of the base editing market. The large share of this segment is due to the potential of base editing in drug development; companies in the pharmaceutical and biotechnology sectors are investing in this technology to secure intellectual property, technology, and product rights and gain a competitive advantage in the rapidly evolving field of genome editing. For instance, in October 2023, Beam Therapeutics announced an agreement with Eli Lilly and Company (Lilly) to acquire certain rights under Beam’s collaboration and license agreement with Verve Therapeutics, Inc., including Beam’s opt-in rights to co-develop and co-commercialize Verve’s base editing programs for cardiovascular disease.

The key regional markets for the global base editing market are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2022, North America accounted for the largest share of the market. The large share of this region is due to the robust biotechnology and pharmaceutical industry, with numerous companies dedicated to drug discovery, development, and therapeutic applications. These companies actively invest in and adopt emerging technologies like base editing for advancing their research and product pipelines. However, most of the growth in the market is expected from emerging countries across Asia Pacific. During the forecast period, the Asia Pacific is expected to be the fastest-growing regional market. Factors such as the emergence of CROs for outsourcing drug discovery-related research projects and increasing pharmaceutical drug pipelines are driving growth in these markets.

Key players in the global Base editing market include Danaher Corporation (US), Merck KGaA (Germany), Revvity (US), Maravai LifeSciences (US), GenScript (China), Beam Therapeutics (US), Intellia Therapeutics, Inc. (US), Cellectis (France), ElevateBio (US), Creative Biogene (US), Bio Palette Co., Ltd (Japan), Addgene (US), Synthego (US), EdiGene, Inc. (China), Shape TX (US), Pairwise (US), ProQR Therapeutics (Netherlands), QI-Biodesign (China), KromaTiD, Inc. (US), and GenKOre. (South Korea).

Recent Developments of Base Editing Industry:

In May 2023, Revvity entered into a license agreement with AstraZeneca for the technology underlying its Pin-point base editing system, a next-generation modular gene editing platform with a strong safety profile to support their creation of cell therapies for the treatment of cancer and immune-mediated diseases.

In July 2022, Beam Therapeutics entered a collaboration with Verve Therapeutics. Beam Tx granted Verve Tx a license toward an additional liver-mediated cardiovascular disease target.

In February 2022, Intellia Therapeutics acquired Rewrite Therapeutics; a private biotechnology company focused on advancing novel DNA writing technologies. This acquisition has expanded Intellia’s industry-leading genome editing toolbox by adding a platform that is highly complementary to its existing CRISPR/Cas9 and base editing technologies.

Content Source:

https://www.marketsandmarkets.com/PressReleases/base-editing.asp

https://www.marketsandmarkets.com/ResearchInsight/base-editing-market.asp

https://www.prnewswire.com/news-releases/base-editing-market-worth-549-million--marketsandmarkets-302015029.html

https://www.globenewswire.com/news-release/2024/01/15/2809108/0/en/Base-Editing-Market-is-Expected-to-Reach-549-Million-MarketsandMarkets.html

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