Market Overview

COVID-19: Potential impact on Genome Engineering Market : Dynamics, Comprehensive Analysis, Prospects and Opportunities 2019-2027

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“According to the report, the global genome engineering market was valued at US$ 3,685.4 Mn in 2018 and is projected to expand at a CAGR of 10.9% from 2019 to 2027.”

Transparency Market Research (TMR) has published a new report titled, ‘Genome engineering Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global genome engineering market was valued at US$ 3,685.4 Mn in 2018 and is projected to expand at a CAGR of 10.9% from 2019 to 2027.

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Overview

  • Genome engineering involves gene modification at specific areas through recombinant technology, which increases precision in insertion and decreases cell toxicity. Current advances in genome engineering is based on the programmable nucleases.
  • The genome engineering market is witnessing significant growth due to increase in the R&D expenditure, rising government funding for genomic research, technological advancements, and increasing production of genetically modified crops
  • Large number of manufacturers operate in the genome engineering market. Thermo Fisher Scientific is a leading market player. Industry would be controlled manufacturer s with large-scale manufacturing facilities and who would be willing to invest more on Research and Development.

 

Technological Developments to Drive Market

  • Companies have made significant investments in R&D in the past few years to develop cutting technologies such as CRISPR and TALEN. For instance, Thermo Fisher Scientific is investing adequately in research to develop its CRISPR technology for providing better efficiency and accuracy in research, and also to fulfil the unmet demands in research and therapeutics. Cas9 protein and FokI protein have been combined to form a dimeric CRISPR/Cas9 RNA-guided FokI nucleases system, which would have a wide genome editing application.
  • Advances in CRISPR-Cas9 genome engineering would highly impact market growth. For instance, in November 2015, a new CRISPR technology was developed by scientists at the University of Massachusetts Medical School. This technology would help in the genome editing in any particular location. It can be used for cell analysis of large population and has most of the applications in gene therapy.
  • Plant genome editing is likely to witness a number of technological developments such as safe harbour integration, localized trait stacking, non-integrative editing, and epigenetics.

 

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CRISPR Segment to Dominate Market

  • Based on treatment type, the global genome engineering market has been divided into CRISPR, TALEN, ZFN and the other technologies includes rAAV technology and antisense technologies. The CRISPR is the widely used technology, while the usage of Zinc Finger Nuclease (ZFN) technology is decreasing steadily.
  • The CRISPR segment accounted for a major share of the global genome engineering market in 2018 and is poised to expand at a highest CAGR during the forecast period. Demand for CRISPR technology is increased at a high rate in the past two years, due to its ease of use, precise, and efficient usage for the modification of endogenous genes in biomedically important cell types and in organisms that are challenging to manipulate by traditional method.

 

Cell Line Engineering segment to be Highly Lucrative Segment

  • Based on application, the genome engineering market has been segmented into cell line engineering, animal genome engineering, and plant genome engineering
  • The cell line engineering segment accounted for the largest share of the market in 2018. The high share of the segment is attributed to rising prevalence of autoimmune diseases and cancer that would require accurate and cost-effective treatment options. This segment is poised to expand at the fastest CAGR during the forecast period.

 

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North America to Dominate Global Market

  • In terms of region, the global genome engineering market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global genome engineering market in 2018, followed by Europe.
  • US is the global leader in in driving research and development in genome editing. US is spending about $15.9 million in studies related to Ethical, Legal and Social Implications (ELSI) Research Program. While the DOE Joint Genome Institute invested $15 million for the same, as suggested in the budget of the Genomic Science Program. Huge facilities of research in Universities in US, with large number of Pharmaceutical companies having headquarters and R&D facilities in US, is the reason for such high market share.

 

Competitive Landscape

  • The genome engineering market has a number of players operating in the market. Major players include Applied Stem Cell, Inc., GenScript, Horizon Discovery Group plc, Integrated DNA Technologies, Inc., Lonza Group Ltd., New England Biolabs, OriGene Technologies, Inc., Sangamo BioSciences, Inc., Sigma-Aldrich Co. LLC., Thermo Fisher Scientific, Inc., and Transposagen Biopharmaceuticals, Inc.

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Press Release Distributed by ABNewswire.com

To view the original version on ABNewswire visit: COVID-19: Potential impact on Genome Engineering Market : Dynamics, Comprehensive Analysis, Prospects and Opportunities 2019-2027

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