Genome Engineering Market to Surpass US$ 8,512.5 Mn Threshold by 2025: CMI
Global Genome Engineering Market, By Technology (CRISPR, TALEN, ZFN, and others), By Application (Cell Line Engineering, and Genetic Engineering), By End User (Biotechnology & Pharmaceutical Companies, Research Institutes, and Contract Research Organizations) and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 2,582.7 Mn in 2016 and is projected to exhibit a CAGR of 14.3% over the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Increasing development of novel technologies in genome engineering is expected to be major driving factor for growth of global genome engineering market in the near future.
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For instance, in 2017, Synthego Corporation—a U.S.-based company of genome engineering solutions—launched its CRISPRevolution Gene Knockout Kit (GKO), with the first guaranteed CRISPR gene editing solution. The new Synthego’s kits rapidly modifies difficult-to-edit human hematopoietic stem cells, as well as primary T cells, in a cost-effective manner. In 2017, Thermo Fisher Scientific–a U.S.-based player– launched its expanded Invitrogen TrueEdit genome editing toolkit. This new kit aims to address the full spectrum of genome editing needs. In January 2018, Synthego Corporation—a U.S.-based company offering genome engineering solutions—launched its new CRISPR Analysis Software, Inference of CRISPR Edits (ICE). Inference of CRISPR Edits is a free to use and open source software, and only CRISPR analysis software for batch processing of Sanger data. The launches of such novel genome engineering technologies is expected to create a conducive environment for growth of global genome engineering market.
Strategic collaboration of key players in the market for genome engineering technologies is also expected to positively affect the market growth. For instance, January 2018, two major key players, Sangamo Therapeutics Inc. and Pfizer Inc. entered into a strategic collaboration agreement, for the development of potential gene therapy using zinc finger protein transcription factors (ZFP-TFs), to treat amyotrophic lateral sclerosis (ALS). In 2015, Novartis International AG collaborated with Intellia Therapeutics Inc., to use Intellia Therapeutics’ CRISPR genome editing technology for the development of new medicines. In 2016, Editas Medicine, Inc. collaborated with Fondazione Telethon and Ospedale San Raffaele, which operates a joint venture—San Raffaele Telethon Institute for Gene Therapy (SR-TIGET). Editas Medicine, Inc. entered into strategic collaboration for research and development in genome edited hematopoietic stem cell (HSC) and T cell therapies. Furthermore, increasing funding and investments for development and research of new genetic engineering technologies is also expected to drive the market growth. For instance, in January 2018, Myotonic Dystrophy Foundation received a funding of US$ 1 Million by an anonymous source in the DM community for launching gene editing program.
Browse 47 Market Data Tables and 42 Figures spread through 185 Pages and in-depth TOC on Genome Engineering Market by Technology (CRISPR, TALEN, ZFN, and Others), By Application (Cell Line Engineering, and Genetic Engineering), By End User (Biotechnology & Pharmaceutical Companies, Research Institutes, and Contract Research Organization) and Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) – Global Forecast to 2025
To know the latest trends and insights prevalent in the Genome Engineering Market, click the link below:
Key Takeaways of the Genome Engineering Market:
The global genome engineering market is expected to exhibit a CAGR of 14.3% over the forecast period (2017–2025), owing to increasing development of novel technologies and strategic collaboration of key players in the market for genome engineering technologies.
North America was the dominant region in the global genome engineering market and is expected to retain its dominance over the forecast period (2017–2025). This is due to presence of major key players and increasing research and development activities for development of novel genome engineering technologies. For instance, in 2017, Integrated DNA Technologies, Inc., a U.S.-based company, launched the first Cas9 enzyme variant, which reduces off-target effects in CRISPR genome editing. The launch of latest Cas9 enzyme variant is a major step towards therapeutic use of CRISPR.
Asia Pacific is expected to exhibit highest growth, with a CAGR of 15.3% over the forecast period, due to increasing research and development in China in genome engineering. For instance in 2016, Chinese scientists injected cells modified with the CRISPR-Cas9 gene-editing technology in human. This is the first time in world when researchers from the Sichuan University in Chengdu inserted the re-engineered cells into a lung cancer patient participating in a clinical trial at the West China Hospital.
Key players in the market are focusing on strategic collaboration with research institutes and genome engineering companies for using their genome engineering technologies in development of new medicines.
Major players operating in the genome engineering market include Thermo Fisher Scientific Inc., CRISPR Therapeutics AG, Intellia Therapeutics, Inc., Editas Medicine, Inc., Sangamo Therapeutics, Inc., Bluebird Bio, Inc., Cellectis S.A., and Merck Group.
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