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Genome Engineering Market Poised to Take Off by 2026

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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
Genome Engineering Market Enhancement in
Medical Sector 2018 to 2026
Genome Engineering Market, By Technology (CRISPR, TALEN, ZFN, and others),
By Application (Cell Line Engineering, and Genetic Engineering), By End User
(Biotechnology & Pharmaceutical Companies, Research Institutes, and Contract
Research Organizations) and by Geography - Global Trends and Forecast to
2025
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.
Furthermore, increasing strategic collaborations by major key players for genome engineering
technologies is also expected to drive market growth. For instance in 2015, ToolGen, Inc.—a South
Korea-based company—collaborated with Thermo Fisher Scientific and licensed its CRISPR/Cas9
intellectual property portfolio to Thermo Fisher Scientific. This license agreement has strengthened the
relationship between ToolGen and Thermo Fisher in the area of genome editing. In 2014, Cellectis
Bioresearch and Thermo Fisher Scientific entered into a strategic collaboration agreement covering the
uses of TAL nucleases under the brand name TALEN. As per the agreement, Thermo Fisher Scientific
is granted a worldwide license under Cellectis’ rights to the TAL nucleases outside the therapeutic field.
Thermo Fisher will market TALEN for these applications under its Life Technologies brand. In 2014,
Bluebird Bio, Inc. acquired Precision Genome Engineering (Pregenen) at US$ 139.9 Mn. This
acquisition has helped the company to use Pregenen’s MegaTALs, originally developed by Precision
Genome Engineering. In 2014, Biogen Idec and Sangamo BioSciences, Inc. entered into a
collaboration agreement for the development of treatment of Hemoglobinopathies. According to the
collaboration, Biogen Idec will use Sangamo's proprietary zinc finger nuclease (ZFN) genome-editing
technology.
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.
Moreover, genome engineering is a very complex technology and needs high skilled researchers, which
limits its adoption rate.
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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.
Moreover, increasing funding and investments for the development and research of new genetic
engineering technologies is also expected to drive market growth. For instance, in January 2018, the
U.S. National Institutes of Health (NIH) announced to grant US$ 190 million for genome editing
research. This new program, Somatic Cell Genome Editing, will award funds to biomedical researchers
over the following six years. The support from major research organizations such as NIH is expected to
attract more researchers in this field, which may lead to advancements in technology and also aid in
growth of the market.
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
[email protected]
https://www.coherentmarketinsights.com/phase-xs/
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready
syndicated research reports, custom market analysis, consulting services, and competitive analysis
through various recommendations related to emerging market trends, technologies, and potential
absolute dollar opportunity.
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Mr. Shah
Coherent Market Insights
1001 4th Ave, #3200
Seattle, WA 98154
Tel: +1–206–701–6702
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ravikiran
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