Genome Engineering Global Market Report 2023: Increasing Funding and Investments for Research and Development Drives Growth

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Feb 27, 2023, 12:20 ET

DUBLIN, Feb. 27, 2023 /PRNewswire/ -- The "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, By End User, By Region" report has been added to ResearchAndMarkets.com's offering.

The global genome engineering market is anticipated to witness impressive growth during the forecast period. Genome engineering is a process that allows for the insertion, deletion, modification, or replacement of DNA in a living organism's genome. As a result of this, the technique can be used for development of new therapies, treatment and drugs for different therapeutic areas especially the chronic diseases. Various academic & research institutions and biotechnology & pharmaceutical companies are focusing and using this technology for development of novel therapies.

For instance, Synthego Corporation introduced the Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) Pioneers Program in October 2017. Using this Clustered Regularly Interspaced Short Palindromic Repeats, researchers are focusing on discovering cures for cancer and other disease areas.

Increasing Development of Novel Technologies

Various companies and academic & research institutions are using genome engineering techniques for the development of new therapies and treatment. This is not only helping them improve their status but also improving the market positioning of various companies and helping them have an edge over other players operating in the market.

For instance, Sangamo Therapeutics, Inc.'s SB-FIX, a zinc finger nuclease (ZFN)-mediated in vivo genome editing treatment for hemophilia B, recieved clinical trial authorization (CTA) from the U.K.'s Medicines and Healthcare Products Regulatory Agency (MHRA) in February 2018. Similarly, the first Cas9 enzyme variation, which reduces the off-target effects in CRISPR genome editing, was introduced in 2017 by Integrated DNA Technologies, Inc. This represented a significant step towards the therapeutic application of CRISPR.

Increasing Funding and Investments for Research and Development

The increasing funding and investments in the study and development of new genetic engineering technologies is expected to create lucrative opportunities for the growth of genome engineering market in the coming years. For instance, the United States National Institutes of Health (NIH) stated in January 2018 that it would be supporting genome editing research through its new program called Somatic Cell Genome Editing. Under this program grants will be provided to researchers across Canada and United States to conduct research related to genome editing.

Growing Application Areas of Genomics

The applications of genomics have significantly increased over the years across different fields including forensics, genetic disorders, drug discovery, agriculture among others. The advent of Next Generation sequencing has increased the application of genomics across the fields of forensics.

Future trends in genome engineering includes its application in the field of nutraceuticals, marine engineering among others. Personalized nutrition and precision medicine are another field wherein the demand for genome engineering is expected to increase. A lot of research and clinical trials are being conducted across different parts of the globe to identify more areas wherein genomic engineering is used. This in turn will create lucrative opportunities for the growth of global genomic engineering market over the next few years.

Market Segmentation

In this report, Global Genome Engineering market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Genome Engineering Market, By Technology:

CRISPR
TALEN
ZFN
Antisense
Others

Genome Engineering Market, By Delivery Method:

Ex-Vivo
In-Vivo

Genome Engineering Market, By Application:

Cell Line Engineering
Genetic Engineering
Diagnostic Applications
Drug Discovery & Development
Others

Genome Engineering Market, By End User:

Pharmaceutical & Biotechnology Companies
Academic & Research Institutions
Others

Genome Engineering Market, By Region:

North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Spain
Italy
Asia-Pacific
China
India
Japan
South Korea
Australia
South America
Brazil
Argentina
Colombia
Middle East & Africa
South Africa
Saudi Arabia
UAE

A selection of companies mentioned in this report includes

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.

For more information about this report visit https://www.researchandmarkets.com/r/wrnto7

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