Genome Editing/Genome Engineering Market is expected to grow at a double digit CAGR during the forecasted period.
Market Industry Reports (MIR) has published a new report titled “Genome Editing/Genome Engeineering Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report the global genome editing market was valued at over US$ 3.0 Bn. in 2017 and is expected to grow at a double digit CAGR during the forecasted period.
The growth of this market can be attributed to the major factor that is utilization of the technique for therapeutic genetic editing in infected tissues and cells, thereby reducing the mutations.
Strong product pipeline to boost the market
Strong product pipeline are anticipated to impact the industrial growth over the forecast period of 2019–2030. The novel products are designed to help in development of DNA targeting, with improved flexibility, specificity of nuclease, and the ease of Adeno-Associate Virus (AAV) packaging for delivery. Moreover, utilization of the technique through a number of methods such as disruption of viral DNA, correction in the toxic mutations, or the addition of therapeutic transgenes is projected to boost the adoption.
Increasing application of the technology to propel the market growth
Application of the technology for cell line genetic editing or engineering in the form of gene therapy and stem cell therapy accounted for the considerable share and is estimated to register lucrative growth. Furthermore, use of the genome editing technology for the development of novel molecules which can be targeted for treating various diseases such as infectious diseases and hematological malignancies is likely to drive the adoption of the technology in the coming years.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Genome Editing/Genome Engineering Market by Technology (CRISPR, TALEN, ZFN), Application (Cell Line Engineering & Genetic Engineering), End User (Research Centers, Pharmaceutical & Biotechnology Companies, CROs) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents: https://www.marketindustryreports.com/genome-editing-genome-engineering-market/5
Safety concerns to remain the major restraining factors
Toxicity owing to off-target effects of the nucleases is a major safety concern for the market restraining the market growth. In addition, the IP disputes relating to CRISPR technology between the industry players is estimated to restrain growth in near future.
Companies are involved in development of the products by the virtue of strategic partnerships. Many companies are taking benefit of developments in DNA engineering technology to develop products for the non-medical purposes.Recently in 2018, Merck, a renowned science and tech company, announced a partnership with China based stem cell research university, Tongji to further expand the field of genome editing.
The players are involved in either in-house research or acquisition of other businesses or cross licensing agreements. The agreements enable the licensing of intellectual property based on novel proteins that may not be affected by arguments in order to continue development.
Some of the prominent players operating in this vertical include Caribou Biosciences, Inc., Editas Medicine, Sangamo, Recombinetics, Inc, CRISPR THERAPEUTICS, Thermo Fisher Scientific, Inc., Intellia Therapeutics, Inc., and The Sigma Aldrich Corporation.
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