A fresh business intelligence publication by TMR Research has projected the demand in the global genome editing or engineering market to expand at a notable CAGR during the forecast period of 2017 to 2025. The report, titled “Genome Editing Market – Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast 2017 – 2025,” is a comprehensive assessment of all major factors that will determine the demand in the near future, showcases the lucrativeness of various segments and regions, and profiles some of the major companies of this market for their business overview, geographical presence, and recent strategic decisions.
The global genome editing market is driven by a number of factors, such as high prevalence of cancer and infectious diseases, increasing production of genetically modified corps, and rising government funding for genomics projects. In addition to that, recent technological advancements, such as the advent of highly adaptable CRISPR technology, is expected to reflect positively over the demand for genome editing in the near future. On the other hand, the prosperity of the genome editing market is strongly hindered by the lack of trained professionals, high cost of equipment, and off-target effects of CRISPR. Additionally, the requirement of a secure setup for the storage of humongous volumes of data and adverse public perception of genetic research are expected to further obstruct the market from flourishing.
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As more easy-to-use and flexible genome technologies are being developed, greater potential of genome editing is being recognized across bioprocessing and treatment modalities. For instance, in May 2017, MilliporeSigma announced that it successfully developed a novel genome editing tool which can make the CRISPR system more productive, specific, and flexible. The researchers thus have a more number of experimental options along with faster results.
All this can lead to a growing rate of drug development, enabling access to more advanced therapies. Proxy-CRISPR, the new technique, makes access to earlier inaccessible aspects of the genome possible. As most of the existing CRISPR systems cannot manage without re-engineering of human cells, the new method is expected to gain more popularity by virtue of the elimination of the need for re-engineering, simplifying the procedures.
Technology-wise, the genome editing market can be segmented into CRISPR, ZFN, TALEN, Antisense, Flp-In, PiggyBac, Jump-In, and Adenine Base Editor (ADE). Application-wise, the market can be bifurcated into cell line engineering, genetic engineering, therapeutics, and diagnostics.
CRISPR THERAPEUTICS, Sigma Aldrich Corporation, Thermo Fisher Scientific, Inc., Intellia Therapeutics, Inc., Sangamo, Editas Medicine, Recombinetics, Inc, and Caribou Biosciences, Inc. are a few key companies in the global genome editing market.
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Key Players Analysis:
By geography, the global genome editing market can be segmented into Latin America, Europe, Asia Pacific, the Middle East and Africa, and North America. North America registered the highest growth in the past, and has been claiming the largest portion of the global genome editing market presently. The extraordinary growth of this region can be attributed to greater adoption of cutting edge technologies across several research organizations. The U.S., being the hub of research activities, is expected to emerge as the leading contributor. Asia Pacific is also likely to witness tremendous demand for genome editing over the forthcoming period, assisting the expansion of the global genome editing market.
CRISPR THERAPEUTICS, Caribou Biosciences, Inc., Sigma Aldrich Corporation, Sangamo, Intellia Therapeutics, Inc., Editas Medicine, Thermo Fisher Scientific, Inc., and Recombinetics, Inc are some of the key firms operating in the global genome editing market.
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