- According to Transparency Market Research’s latest report on the global genome engineering market for the historical period 2017–2018 and forecast period 2019–2027, increased funding in genomic research, technological developments, rising demand for synthetic genes, and investment by pharmaceutical companies for new product development are projected to drive the global genome engineering market during the forecast period
- According to the report, the global genome engineering market was valued at US$ 3,685.4 Mn in 2018 and is anticipated to expand at a CAGR of 10.9% from 2019 to 2027
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Increased Funding In Genomic Research: Key Drivers
- Synthetic biology received funding of US$ 430 Mn in the U.S. from 2005 to 2010, which was much higher than US$ 160 Mn in Europe during the same period. The U.K. contributed around US$ 30 Mn. About 4% and 2% funding in the U.S. and Europe, respectively, was spent to explore ethical, social, and legal implications (ELSI) of synthetic biology. Government initiatives are on par with private investments.
- More than $700 million was spent on synthetic biology research, by Department of Energy (DOE). While NIH awarded a grant of $40 million for the same.
- Universities across the globe have provided significant funding for research in synthetic biology. For instance, in 2008, three Dutch universities — Delft University of Technology (Department of Bionanoscience), University of Groningen (Centre for Synthetic Biology), and the Eindhoven University of Technology (Institute for Complex Molecular Systems) — declared they would invest around USD $90 million in synthetic biology research for a period of 5 years to 10 years.
- Application of genome engineering in animals has increased significantly in the past few years. Usage of this technology brings with it ethical issues that relate to animal welfare.
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Investment by Pharmaceutical Companies for Developing New Treatments Boost Market Growth
- Pharmaceutical firms have realized the new trends of treating genetic diseases by gene editing technologies. They are collaborating with gene editing companies to develop treatment option.
- In December 2015, Bayer and CRISPR Therapeutics AG formed a joint agreement, to develop new technology to cure blindness, blood disorders, and congenital heart disease. Bayer would be utilizing the CRISPR-Cas9 gene editing technology and would use its protein-engineering technology for the same. Bayer will contribute a minimum of USD 300 million in R&D investments in this joint venture.
- In January 2015, Novartis formed a collaboration with Intellia and Caribou, which would help Novartis to use CRISPR genome editing technology to engineer chimeric antigen receptor (CAR) T cells and hematopoietic stem cells and also to discover and develop other medicine. This collaboration received an undisclosed amount from Novartis and USD $15 million from both Intellia and Caribou.
Stringent Regulatory Framework to Hamper Market
- There are various regulatory frameworks for genetically modifying plant genome. Process based regulatory frameworks consider the techniques used to create new crop plant varieties. The regulation is triggered when the plant is developed by using recombinant DNA technology. The definitions and guidelines for regulation was decided by the organizations such as the United Nations Food and Agricultural Organization and treaties such as the Cartagena protocol. The regulation is followed in Europe, Argentina, Brazil, and several other regions. The product based regulatory framework that prevails in the U.S. and Canada primarily focuses on the inherent risk of the final product, rather than the technology used to make it.
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Global Genome engineering Market: Competitive Landscape
- This report profiles major players in the global genome engineering market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
- The major players operating in the global genome engineering market are
- Applied Stem Cell, Inc.
- Horizon Discovery Group plc
- Integrated DNA Technologies, Inc.
- Lonza Group Ltd.
- New England Biolabs
- OriGene Technologies, Inc.
- Sangamo BioSciences, Inc.
- Sigma-Aldrich Co. LLC.
- Thermo Fisher Scientific, Inc.,
- Transposagen Biopharmaceuticals, Inc.
Global Genome engineering Market: Key Developments
- In January 2015, four research collaborations with The Wellcome Trust Sanger Institute, The Innovative Genomics Initiative, California, Thermo Fisher Scientific, Waltham, Massachusetts and Broad Institute/Whitehead Institute, Cambridge, Massachusetts to use CRISPR technology to identify and validate new drugs in preclinical models that would resemble human diseases.
The report on the global genome engineering market discussed individual strategies, followed by company profile of manufacturer of genome engineering. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global genome engineering market.
TMR’s report on the global genome engineering market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2019 to 2027. The report provides revenue of the global genome engineering market for the period 2017–2027, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global genome engineering market during the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global genome engineering market.
Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global genome engineering market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global genome engineering market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global genome engineering market.
The report delves into the competitive landscape of the global genome engineering market. Key players operating in the global genome engineering market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global genome engineering market that have been profiled in this report.
Key Questions Answered in Global Genome engineering Market Report
- What is the scope of growth of product companies in the global genome engineering market?
- What will be the Y-o-Y growth of the global genome engineering market between 2019 and 2027?
- What is the influence of changing trends in technologies on the global genome engineering market?
- Will North America continue to be the most profitable market for genome engineering providers?
- Which factors are anticipated to hamper the growth of the global genome engineering market during the forecast period?
- Which are the leading companies in the global genome engineering market?
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global genome engineering market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary methods referred to by analysts during the production of the global genome engineering market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the genome engineering market as primary methods.
These primary and secondary methods have provided exclusive information during interviews, which serves as a validation from the genome engineering market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global genome engineering market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global genome engineering market more reliably and accurately.
Regional Segmentation of Genome engineering Market
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Global Genome engineering Market - Segmentation
Clustered regularly interspaced short palindromic repeats (CRISPR)
Transcription activator-like effector nuclease (Talen)
Zinc Finger Nuclease (ZFN)
Cell Line Engineering
Animal Genome Engineering
Plant Genome Engineering
Pharmaceutical and Biotechnology Companies
Clinical Research Organizations
Middle East & Africa