Genome Editing Market by Application, by Technology, by End User (Biotechnological & Pharmaceutical Companies, Academic and Government Research Institutes and Contract Research Organizations), and by Region - Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)
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The Global Genome Editing Market was worth USD 2.83 billion in 2016 and estimated to be growing at a CAGR of 14.42%, to reach USD 5.55 billion by 2021. Genome editing is the procedure of modifying DNA within a cell, accurately and efficiently in order to make an organism’s life functions enhanced.
It is a form of genetic engineering wherein, DNA is inserted or replaced or even deleted from the genome of a living organism, using genetically engineered nucleases. It is a vital and emerging field in biology that offers a lot of scope for research and development as well.
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Applications of genome editing include therapeutic genetic editing as well in infected cells and tissues, thereby removing dangerous mutations, disruption of viral DNA and addition of therapeutic transgenes. It also plays a pivotal role in the future development of stem cell engineering and gene therapy.
Additionally, antiviral applications for therapy of uncured diseases such as HIV, herpes and hepatitis B are also under research.
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The major factors affecting the Genome Editing market include the increasing use of genetically modified crops and the technological advancements in the field. The willingness of the government to provide ample funding for further research and development in the area is yet another booster to the market growth.
Even though the market is expected to grow vastly in the future years, it is hampered by factors such as the high costs associated with genomic equipment and ethical concerns regarding the modification of and organism’s DNA.
The Global Genome Editing market is broadly classified into Cell Line, Animal Genetic and Plant Genetic Engineering in the basis of application, by technology into CRISPR, TALEN, ZFN, Antisense and Other Technologies and on the basis of end user into Biotechnological & Pharmaceutical Companies, Academic and Government Research Institutes and Contract Research Organizations. Based on geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
The Genome Editing Market is dominated by North America in 2016 with the region accounting for 40% of the overall market share. North America was followed next in line by Europe and Asia-Pacific.
Asia-Pacific is expected to grow rapidly in the coming years as is evident from the high CAGR value for the region. Another promising region for the market is Latin America, which is expected to show high growth rates in coming years.
The Genome Editing market is highly competitive with a large number of players. Some of the major ones are Thermo Fisher Scientific, Merck KGAA, Horizon Discovery Group Plc, Genscript Biotech Corporation, Sangamo Biosciences, Integrated DNA Technologies, Lonza Group Ltd, New England Biolabs, Origene Technologies, and Transposagen Biopharmaceuticals.
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