The global genome editing market was valued at USD 6.9 billion in 2024 and is expected to grow at a rate of over 19.6%, reaching USD 20.4 billion by 2030, as reported by P&S Intelligence.
This substantial growth is driven by rapid advancements in genomic technologies, the growing focus on the highly versatile CRISPR technology, and increased investments in genomics R&D by both private entities and governments. Additionally, the rising prevalence of genetic disorders is contributing to market expansion.
Genomics has a broad spectrum of applications, spanning agriculture, drug discovery, forensics, veterinary science, and the identification of human genetic disorders. Government and private biotech organizations are placing strong emphasis on these areas. Next-generation sequencing (NGS) has significantly enhanced the role of genomics in forensics.
In 2022, the reagents and consumables segment generated the highest revenue of approximately USD 3.3 billion and is projected to dominate the market in the coming years. This growth is attributed to the frequent need for reagents in research and their consumable nature, leading to recurring demand.
The increasing use of personalized medicine is providing major growth opportunities for key market players. Personalized treatments enable healthcare professionals to identify specific patient needs and deliver tailored therapies accordingly.
Pharmaceutical and biotech companies, as well as academic institutions worldwide, are actively conducting research on precision medicine to address patient-specific treatment requirements.
In 2022, North America accounted for the largest share of the genome editing market, about 45%. The region is expected to maintain its dominance due to advances in gene therapy, the rising adoption of genetically modified crops, and the availability of research funding. The U.S. leads the market, benefiting from strong government and private investment in genomics R&D.
Biotechnology and pharmaceutical companies accounted for the largest revenue share in 2022, around 40%, due to their increasing use of gene editing technologies in drug discovery and target identification.
Therefore, the rapid technological progress in genomics, the focus on CRISPR technology, and increased spending on genomics research are the key drivers of market growth.
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