South Korea Genome Editing Market Size & Outlook
South Korea genome editing market, 2018-2030 (US$M)
Related Markets
South Korea genome editing market highlights
- The South Korea genome editing market generated a revenue of USD 114.7 million in 2023 and is expected to reach USD 439.7 million by 2030.
- The South Korea market is expected to grow at a CAGR of 21.2% from 2024 to 2030.
- In terms of segment, (crispr)/cas9 was the largest revenue generating technology in 2023.
- (CRISPR)/Cas9 is the most lucrative technology segment registering the fastest growth during the forecast period.
Genome editing market data book summary
| Market revenue in 2023 | USD 114.7 million |
| Market revenue in 2030 | USD 439.7 million |
| Growth rate | 21.2% (CAGR from 2023 to 2030) |
| Largest segment | (crispr)/cas9 |
| Fastest growing segment | (CRISPR)/Cas9 |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | (CRISPR)/Cas9, TALENs/MegaTALs, ZFN, Meganuclease |
| Key market players worldwide | Merck KGaA, Cibus Inc Ordinary Shares - Class A, Recombinetics, Sangamo Therapeutics Inc, Editas Medicine Inc, Precision BioSciences Inc, CRISPR Therapeutics AG, Intellia Therapeutics Inc, Caribou Biosciences Inc Ordinary Shares, Cellectis SA, AstraZeneca PLC, Takara Bio Inc, Horizon Discovery, Danaher Corp, Genscript Biotech Corp Class H, New England Biolabs, Origene Technologies, Bluebird bio Inc, Lonza Group Ltd, Thermo Fisher Scientific Inc |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.4% of the global genome editing market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China genome editing market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 626.7 million by 2030.
(crispr)/cas9 was the largest segment with a revenue share of 48.56% in 2023. Horizon Databook has segmented the South Korea genome editing market based on (crispr)/cas9, talens/megatals, zfn, meganuclease covering the revenue growth of each sub-segment from 2018 to 2030.
The rising utilization of genome editing tools in Genetically Modified (GM) crops is anticipated to propel market expansion. The National Center for GM Crops (NCGC) endeavors to enhance national food security and elevate agriculture into a prominent sector through advanced technological approaches.
NCGC has been innovating GM crops with enhanced agronomic traits. Furthermore, NCGC is actively involved in the development of future-oriented plants, such as drought-resistant varieties of rice, soybeans, and Chinese cabbage.
On the other hand, in September 2020, the country’s first genome-edited Petunia was approved in the U.S. The research team led by Professor Geung-Ju Lee of Chungnam National University and Toolgen declared that the new variety of petunia developed by using CRISPR technology has been considered non-GMO by the U.S. Department of Agriculture.
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Genome Editing Market Scope
Genome Editing Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea genome editing market size, by technology, 2018-2030 (US$M)
South Korea Genome Editing Market Outlook Share, 2023 & 2030 (US$M)
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