The size of the Genome Editing Market in Latin America was worth USD 0.54 billion in 2023 and is estimated to be growing at a CAGR of 14.92% to reach USD 1.08 billion by 2028.
Genome editing is the deliberate alteration of a selected DNA sequence in a living cell. It involves cutting a strand of DNA at a specific point, and naturally, existing cellular repair mechanisms are counted on to fix the broken strands. The repair process can be altered to make the desired changes in the DNA sequence. Genome Editing can be categorized based on whether they result in the loss of function or gain of function.
Genome Editing has found the most uses in scientific research, for instance, in investigating human diseases using experimental models. However, the potential applications of this are much more comprehensive than just research. Given that genome editing can be used in the editing of DNA of any organism, be it bacteria, plants, animals, or human beings, the range of possibilities is limitless. Some areas of application worth mentioning include crops and livestock, industrial biotechnology, biomedicine, and reproduction.
The key drivers of the Genome Editing Market in Latin America include increased R&D expenditure, growth of biotechnology and pharmaceutical industries, and growing public and private sector funding into the development of the sector. Other factors include rapid advancements in sequencing and gene-editing technologies, non-labeling of gene-edited products such as Genetically Modified Organisms, and various applications in drug discovery.
Despite the drivers, factors such as the stringent regulatory framework and ethical concerns regarding the edition of the human embryos are hampering the market growth. In addition, the unavailability of gene-editing-based therapeutics in the market and patent disputes are other noteworthy constraints.
This research report on the Latin American genome editing market has been segmented and sub-segmented into the following categories:
Regionally, the Brazilian genome editing market is estimated to account for a share of around 48.4% by 2028. Increasing support from the government organization through funds is lucratively enhancing the demand of the market. Besides, escalating expenditure on healthcare in urban areas is surging the market's growth rate in Brazil.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the Latin America Genome Editing Market profiled in the report are Thermo Fisher Scientific, Merck KGAA, Horizon Discovery Group Plc, Genscript Biotech Corporation, Sangamo Biosciences, Integrated DNA Technologies, Lonza Group Ltd, New England Biolabs, Origene Technologies, and Transposagen Biopharmaceuticals.
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