Genome Engineering Market Progresses for Huge Profits by 2026

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Summary

The Global Genome Engineering Market was valued at US$ 2,582.7 Mn in 2016 and is expected to witness a CAGR of 14.3% over the forecast period (2017–2025)

Press Release

The Global Genome Engineering Market was valued at US$ 2,582.7 Mn in 2016 and is expected to witness a CAGR of 14.3% over the forecast period (2017–2025).

Genome engineering is a technique in which a DNA is inserted, deleted, modified or replaced in the genome of a living organism. Research and development activities are conducted in genome engineering for the development of novel technologies. For instance, in 2017, Synthego Corporation launched a CRISPR Pioneers Program to expand genome engineering research. Researchers are majorly focusing on developing treatments for cancer and rare diseases with the help of genome engineering tools such as CRISPER. Many genome technologies are under trial for treatment of such diseases, and are expected to receive approvals in the near future.

Market Dynamics

Development of novel technologies in genome engineering field is expected to significantly drive growth of the global genome engineering market in the near future. For instance, in 2017, Merck KGaA— Germany-based company—developed a new genome editing tool dubbed ‘proxy-CRISPR’, providing access to previously inaccessible microenvironments of the genome by modification of chromatin modifications. In 2017, Benson Hill Biosystems, Inc.—an agricultural technology company—launched its latest CRISPR 3.0, to increase innovators’ access to gene editing. CRISPR 3.0 is a latest innovative genomics tool, which is expected to improve crop performance. Development of such novel technologies by major key players is expected to create a conducive environment for growth of market.

High cost of genome engineering technologies is expected to be the major factor, restraining growth of the genome engineering market over the forecast period. For instance, according to the fees chart provided by Yale Genome Editing Center, in 2018, it charges between US$ 8,000 and US$ 15,000 for gene editing facilities. The high cost associated with genome engineering facilities is expected to hamper the market growth, especially in emerging economies such as India, Brazil, and South Africa.

Key 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.

Also, Coherent Market Insights has a proprietary database of pipeline biologics and biosimilars, called PHASE-XS. This database provides analytical data in addition to the clinical information of ongoing trials for biologics and biosimilars. An amalgamation of more than 30 parameters, PHASE-XS helps biotechnology and pharmaceutical companies to analyze the market trend, competition, and market potential. For more information or to access this database, kindly click on the below link or contact at sales@coherentmarketinsights.com

https://www.coherentmarketinsights.com/phase-xs/