Efforts of Pharmaceutical Companies toward Development of New Treatment Solutions Create Lucrative Avenues in Genome Engineering Market, Notes TMR

- The genome engineering market is expected to expand at a CAGR of 10.9% CAGR during 2019–2027. This growth can be attributed to the growing funding toward genomic research and technological developments in the field.

- Huge investments by the U.S. on research pertaining to genome editing make the country the global leader in the market

ALBANY, N.Y., Aug. 27, 2021 /PRNewswire/ -- The global genome engineering market is projected to experience substantial expansion avenues in the forecast period of 2019 to 2027. This growth is on the back of many crucial factors, including increased investment by pharmaceutical companies for new product development activities and rising demand for synthetic genes from all across the globe.

The concept of genome engineering is applied in animal genome engineering, plant genome engineering, and cell line engineering.

A new study published by Transparency Market Research (TMR) states that the global genome engineering market is projected to reach the valuation of US$ 9.59 Bn by the end of forecast period from 2019 to 2027. The total valuation of the market was recorded at US$ 3.69 Bn in 2018.

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Genome Engineering Market: Key Findings

• Rise in Adoption of CRISPR Technology Owing to Its Varied Advantages

The CRISPR technology is gaining traction from the past couple of years, owing to various advantages it offers. The technology is user-friendly in nature and offers high precision level. In addition, it can be utilized efficiently for the alteration of endogenous genes in biomedically significant cell types as well as in life forms that are difficult to manipulate by conventional techniques.

• Surge in Number of Cancer, Autoimmune Diseases Globally Boosts Demand for Cell Line Engineering

The notable growth in the number of people living with varied critical health issues such as cancer and autoimmune diseases has resulted in increased need for precise and cost-effective treatment solutions. This scenario is promoting diverse research and development activities and creating lucrative avenues for the expansion of cell line engineering technology.

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Genome Engineering Market: Growth Boosters

• Many universities across the globe are encouraged for the research and development activities in the synthetic biology. As a result, they are seen offering noteworthy amount in the form of funding for such researches. This scenario is acting as one of the key drivers for the growth of the global genome engineering market.
• Major companies engaged in the pharmaceutical industry have realized the importance of gene editing technologies in order to develop efficient treatment options for varied genetic disorders. As a result, they are entering into collaboration agreements with gene editing companies for the development of advanced treatment solutions. This is expected to favor the growth of the global genome engineering market.
• Increased funding from several government authorities from across the globe for genomic research is anticipated to fuel market expansion in the upcoming years
• The concept of plant genome editing is foreseen to experience numerous technological advancements in the near future. Localized trait stacking, safe harbor integration, epigenetics, and non-integrative editing are some of the key areas of such advancements. A significant growth in the production of genetically modified crops is expected to help in market development in the upcoming years.
• The U.S. is expected to dominate the North America genome engineering market, due to extensive genome editing research activities in the country

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Genome Engineering Market: Key Players

The report profiles key players operating in the genome engineering market. The report provides critical data such as the company overview, product portfolio, financial overview, recent developments, and key business strategies of each player operating in the market.

Some of the key players working in the market are:

• GenScript
• Applied Stem Cell, Inc.
• Integrated DNA Technologies, Inc.
• Horizon Discovery Group plc
• New England Biolabs
• Lonza Group Ltd.
• Sangamo BioSciences, Inc.
• OriGene Technologies, Inc.
• Thermo Fisher Scientific, Inc.,
• Sigma-Aldrich Co. LLC.
• Transposagen Biopharmaceuticals, Inc.

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The global genome engineering market has been segmented as follows:

• Global Genome Engineering Market, by Technology
• Clustered regularly interspaced short palindromic repeats (CRISPR)
• Transcription activator-like effector nuclease (Talen)
• Zinc Finger Nuclease (ZFN)
• Other Technologies
• Global Genome Engineering Market, by Application
• Cell Line Engineering
• Animal Genome Engineering
• Plant Genome Engineering
• Other Application
• Global Genome Engineering Market, by End-User
• Pharmaceutical and Biotechnology Companies
• Academics
• Clinical Research Organizations
• Global Genome engineering Market, by Region
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research: 

Synthetic Biology Market: According to the report, the global synthetic biology market was valued at US$ 4.96 Bn in 2018 and is projected to expand at a CAGR of 26.3% from 2019 to 2027, rise in demand for biologic drugs for treating various chronic conditions, decline in cost of DNA sequencing and synthesis, technological advancements, and entry of new players are anticipated to drive the global synthetic biology market

Stem Cells Market: As per the market report by Transparency Market Research, the global market for stem cells is projected to reach a value of US$270.5 bn by the end of 2025. The market is likely to exhibit a strong 13.80% CAGR between 2017 and 2025. The rapid development of the infrastructure that is required for the stem cell banking and processing, especially in developing economies is predicted to encourage the growth of the global stem cells market in the coming years. Moreover, the favorable regulation for stem cells is likely to support the market growth in the near future.

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