Genome Engineering Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017-2025
Genome engineering is a process of insertion, deletion, modification or replacement of DNA bases in an organism. Genome engineering has exhibited potential benefits in gene therapy. For instance, various genetic disorders such as Hemophilia, Myotonic dystrophy, Alzheimer’s disease, Sickle cell anemia, Gaucher disease, Cystic fibrosis (involves correction of a single gene) or asthma, autoimmune diseases, cancer, diabetes, and heart disease (involves correction of multiple genes) can be treated using genomic engineering.
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Increasing preference for personalized medicines and research and development is expected to propel growth of the genomic engineering market
Personalized medicine (pharmacogenomics and precision medicine) involves extensive use of genomic engineering for offering drugs specific to the patient’s condition. Companies and patients are opting for personalized medicine, for effective and precise treatment. This is especially applicable to treat chronic diseases such as cancer in which, precision medicine is of high interest to patients and prescribers. This factor is expected to drive growth of the genome engineering market. Pharmaceutical firms are increasingly focusing on genomic engineering for their research and development such as in target identification and validation, and clinical trials. As per the estimation of Pharmaceutical Research and Manufacturers of America (PhRMA), on an average the pharmaceutical industry invests US$ 0.8 to US$ 1.7 billion on research and development to bring one product to the market. Moreover, genome engineering aids in faster development of precision drugs. For instance, Crizotinib, which is an anti-cancer drug to treat lymphoma, was introduced in the market within seven years of research against the normal span of 14 years with the help of genome engineering. Furthermore, lowering cost to sequence the genome to as low as US$ 1,000 as against close to US$ 2 billion for human genome project is also expected to boost growth of the genome engineering market.
On the basis of region, the global genome engineering market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to be dominant position in the genomic engineering market. This is owing to increasing research spending and collaboration with genomics firms by pharmaceutical and biotechnological companies in the region In April 2016, AstraZeneca launched project to sequence genome of over 2 million people by collaborating with biotech firm Human Longetivity, Inc., and other academic institutions. In March 2015, Genomics England announced to partner with 10 pharmaceutical and biotechnological companies to develop new diagnostics techniques and treatments for patient with cancers and rare disease, using the genomic sequences gathered through the 100,000 genomes project of Genomics England.
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Key players in the market are focusing on acquisition and collaboration strategies for enhancing their market share and expanding their product portfolios. For instance, in January 2018, Sangamo Therapeutics entered into collaboration with Pfizer Inc. for development of zinc finger protease gene therapy to treat amyotrophic lateral sclerosis. Moreover, in December 2017, Horizon Discovery Group plc. Entered into agreement with Roche Diagnostics for development of immunohistochemistry assay. Merck KGaA in 2015 acquired Sigma-Aldrich at US$ 17 billion, now known as Millipore-Aldrich, in order to enhance its product offerings. In April 2017, the FDA re-approved 23andme to provide gene testing services, which would aid in testing the susceptibility of people for particular diseases. 23andme offers first direct-to-consumer gene testing tool kit.
Key players operating in the global genomic engineering market are Genscript Biotech Corporation, Horizon Discovery Group plc, Integrated DNA Technologies, Inc., Sangamo Therapeutics, Inc., Lonza Group, New England Biolabs, Sigma-Aldrich Corporation, Thermo Fisher Scientific, Transposagen Biopharmaceuticals, Inc. Editas Medicine, CRISPR Therapeutics AG, Intellia Therapeutics, Inc., Precision Biosciences, Inc., and Caribou Biosciences, Inc.
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