Genome Engineering Market to Clock CAGR of 10.9% from 2019 to 2027; CRISPR Gene Edition Tools Present Sizable Revenue Streams, TMR

- Pharmaceutical Companies Seek Cutting-edge Gene Editing Techniques and Technologies to Address Autoimmune Diseases And Cancer

- Rise in Funding on Synthetic Biology Strengthens Research and Development in Genome Engineering; Cell Line Engineering Techniques Open New Frontiers

News provided by

Transparency Market Research

Jun 10, 2020, 05:30 ET

ALBANY, New York, June 10, 2020 /PRNewswire/ -- Genome editing technologies and techniques are increasingly utilized in therapeutics and diagnostics of human diseases and in plant biology research. New approaches have come to the fore for programmable nucleases, fueling recent strides in genome engineering market.

Worldwide, prominent research centers in collaboration with industry players have been pouring in dollars to develop novel systems in gene editing.

Currently the genome engineering market stood at US$ 3,685.4 Mn in 2018 and is projected to clock a CAGR of 10.9% from 2019 to 2027.

Analysts at Transparency Market Research opine that advances in CRISPR-Cas9 genome engineering will be a key accelerator of growth in the genome engineering market.

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Key Findings of Genome Engineering Market Report

Of all treatment types, clustered regularly interspaced short palindromic repeats (CRISPR) accounts for a prominent share, and has risen in application
Of all the application segments, cell line engineering held the major share in 2018; the segment expected to expand at the most attractive CAGR during 2019 – 2027
Of all the regions in genome engineering market, North America held the leading streak in 2018; wide application areas of gene therapies cement its prospects
Europe stood at the second leading region in 2018
Extensive research in gene editing technologies and applications in the U.S. makes it a key revenue contributor to North America

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Genome Engineering Market: Key Driving Factors and Promising Avenues

Past few years have seen extensive research in gene therapies, evident in the growing popularity of CRISPR-Cas9 gene editing technology. A number of biotech, pharmaceutical, and agrochemical companies are increasing their stakes in gene engineering market. The potential of gene modification techniques for addressing several human diseases has motivated them to adopt various approaches in genome therapies.

Research in recombinant DNA technologies and cell line engineering has led to breakthroughs in gene therapies, spurring new applications in the genome engineering market.

In recent years, players in the genome engineering market has seen the use of gene editing tools in plant biology research. An important example is the use of CRISPR/Cas9 in plant genome engineering.

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Key Impediments for Genome Engineering Market Players

The unprecedented potential of gene therapies notwithstanding, the regulatory frameworks in numerous key markets is not yet developed and hence unfavorable. A few regulations such as Cartagena Protocol on Biosafety and norms made by United Nations Food and Agricultural Organization are in place. Nevertheless, the regulations do not encompass gene editing technologies; rather they focus on products.

Another key constraint is developing economies lack research funding, so that commercialization of gene editing platforms take time. Societal and ethical issues related to animal welfare also need to be taken into account for industry stakeholders willing to increase their footprints in the global genome engineering market.

Global Genome Engineering Market: Competitive Landscape

Several players in multinational pharmaceutical companies, biotech companies, and agrochemical players have increased their stake by entering into strategic collaborations and partnerships. They are harnessing the potential of modern gene editing tools for stem cell research and drug formulations. Globally prominent life sciences companies are proving their might with large-scale manufacturing facilities, and are leaning to addressing the need for disease diagnostics and therapeutics.

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Global Genome Engineering Market: Segmentation

Technology

Clustered regularly interspaced short palindromic repeats (CRISPR)
Transcription activator-like effector nuclease (Talen)
Zinc Finger Nuclease (ZFN)
Other Technologies

Application

Cell Line Engineering
Animal Genome Engineering
Plant Genome Engineering
Other Application

End-User

Pharmaceutical and Biotechnology Companies
Academics
Clinical Research Organizations

Region

North America
Europe
Asia Pacific
Latin America

Rest of Latin America

Middle East & Africa

GCC Countries

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