Growing applications of genomics in different application areas such as human genetic disorders, agriculture, drug discovery, etc. is expected to drive the growth of global genome engineering market through 2027
According to TechSci Research report, “Genome Engineering Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global genome engineering market is anticipated to grow at a significant rate in the forecast period, 2023-2027. The growing prevalence of different chronic diseases especially cancer and different genetic disorders and need to get efficient treatment for them is expected to drive the growth of global genomic engineering market. Additionally, the sudden outbreak and spread of pandemic COVID-19 has significantly increased the importance and role of genomic engineering. For instance, gene editing approaches such as CRISPR-Cas12/13-based SHERLOCK, DETECTR, antisense peptide nucleic acids, ribozymes, aptamers, among others have proved to be vital in such pandemic outbreaks. These techniques help in shorter and easier diagnosis to more targeted virus detection and killing.
However, the high cost of instrumentations and equipment used in genomic engineering technique can pose threat to the overall market growth on account of affordability constraints associated with small & medium sized pharmaceutical companies and academic & research institutions. Also, lack of awareness and adoption especially in developing nations can further restrict the market growth. Besides, lack of skilled professionals to perform the genomic engineering technique and use the instrumentations can further slowdown the market growth.
Browse over XX market data Figures spread through110 Pages and an in-depth TOC on “GENOME ENGINEERING MARKET“
The global genome engineering market is segmented into by technology, by delivery method, application, by end user and by region.
Based on technology, the market can be categorized into CRISPR, TALEN, ZFN, Antisense and others. The CRISPR segment is expected to dominate the market in the coming years on account of various technical advantages associated with this technique such as targeted gene disruption, guide RNA-specific recovery, and regulation. These benefits have accelerated the adoption of CRISPR/Cas9 technology in a relatively broad range of applications. CRISPR clinical applications have found widespread applications. This is evidenced by the growing number of ongoing clinical trials using gene-editing techniques to treat a variety of diseases such as cancer, AIDS, and genetic diseases. Apart from human health, this technology is increasingly being used in agriculture and animal breeding.
Among the different end users, the segment of pharmaceutical & biotechnology companies held the biggest market share for genome engineering. This can be ascribed to the increased focus of these company’s research & development activities to develop different treatments and drugs. Additionally, to create cutting-edge technology, multinational biotechnology & pharmaceutical companies are collaborating with small companies and startups. For instance, in April 2021, CANbridge Pharmaceuticals, Inc. and LogicBio Therapeutics, Inc., signed a strategic collaboration and licensing agreement to address rare and serious diseases. CANbridge Pharmaceuticals, Inc. obtained rights to the latter company’s gene-editing platforms as a result of this agreement.
Based on delivery method, the market can be split into ex-vivo and in-vivo. The ex-vivo segment dominated the market in 2021 on account of various advantages that come with this mode type, namely the simplicity of controlling DNA modification. Ex-vivo delivery has grown due to the increased use of this delivery strategy and the expanding clinical trial pipeline that uses genome editing tools.
Major operating companies operating in global genome engineering market are:
- Merck KGaA
- Sangamo Therapeutics, Inc.
- Genscript Biotech Corp
- CRISPR Therapeutics AG
- Editas Medicine, Inc.
- Precision BioSciences, Inc.
- Horizon Discovery Group plc
- Lonza Group Ltd.
- OriGene Technologies, Inc.
- Transposagen Biopharmaceuticals, Inc
Various companies operating in the market are following strategies such as mergers & acquisitions, collaborations, new therapy development, increasing research & development activities, launching clinical trials and filing patent applications in order to stay competitive and have an edge over the other players operating in the market. For instance, in May 2019, Thermo Fisher Scientific acquired Brammer Bio to increase its global presence in the market with the addition of the expertise of Brammer Bio in the manufacturing of vectors for genes and cell therapies.
DOWNLOAD FREE SAMPLE REPORT
Customers can also request for 10% free customization on this report.
“The North America region is expected to dominate the global genome engineering market during the forecast period. This can be attributed to increasing research & development expenditure and funding related to genomic research in the region especially in United States and Canada. Additionally, early adoption and advancements related to the technique in the region are supporting the market growth” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Genome Engineering Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Technology (CRISPR, TALEN, ZFN, Antisense, Others), By Delivery Method (Ex-Vivo v/s In-Vivo), By Application ( Cell Line Engineering, Genetic Engineering, Diagnostic Applications, Drug Discovery & Development, Others), By End User ( Pharmaceutical & Biotechnology Companies, Academic & Research Institutions, Others) and By Region”, has evaluated the future growth potential of global genome engineering market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global genome engineering market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com