Global Genome Engineering Market: Overview
Genome engineering refers to the techniques and strategies in which the DNA is deleted, replaced or inserted in the living organism’s genome with the help of molecular scissors or engineered nucleases. It is one of the active fields of research owing to its wide array of potential applications, specifically related to human health such as the manufacturing of therapeutic proteins, the rectification of a gene with a detrimental mutation, and the removal of repeated viral sequences. It also has an application in agricultural biotechnology such as the invention of novel generations of genetically modified plants. Genome engineering can also be used in the improvement of research tools, for instance, to exploit a gene’s function of a gene.
The in general increase in the manufacturing of genetically modified crops, the fast rise in the figure of biotechnology and pharmaceutical companies, the growing government expenditure for genomics, increasing R&D activities in the life science research, raised need of synthetic genes, and technological enhancements are few factors propelling the growth of the genome editing/genome engineering market. However, the strict regulatory authorities and ethical concerns are few factors impeding the market growth.
The global genome engineering market will exhibit a remarkable 14.2% CAGR from 2015 through 2023, with market’s opportunity rising from US$2.30 bn in 2015 to an estimated US$7.21 bn by 2023.
Application Segment of Academics to Demonstrate High Potential for Growth
Genome engineering practices find extensive usage across the academic field and industries such as agriculture, biotechnology, and pharmaceuticals. In 2014, biotechnology and pharmaceutical companies contributed nearly 58% of the market’s overall revenue. The significant rise in the use of genome engineering practices in therapeutics and drug discovery have contributed to the immense growth of this application segment. The trend is expected to remain strong over the report’s forecast period as well, with the extensive use of genome engineering in the pharmaceutical industry expected to drive the market significantly.
Applications of genome engineering in the academics sector emerged as the second largest contributor to the revenues of the global genome engineering market in 2014. Owing to the preliminary success achieved in a number of academic studies, the demand for genome engineering practices has significantly increased in the academic sector, chiefly for the production of mutants and treatment of genetic disorders. The vast global rise in prevalence of genetic disorders and a variety of cancers, the academic sector is expected to lead to stable demand for genome engineering practices in the next few years as well.
Asia Pacific to Emerge as the Most Swiftly Growing Regional Market
North America dominated the market in terms of revenue share owing to the higher adoption of advanced techniques in the research institutes based in the U.S. Furthermore, higher incidence of monogenic diseases in this region are attributive for the estimated share. For instance, cystic fibrosis is a common, inherited disease that results in severe damage to the lungs and other organs and occurs at a frequency of 1 in 2,500 births in the U.S. Moreover, currently 122,000 people in the U.S. requiring an organ transplant, a number that is steadily increasing.
Accelerated research in the field of biotechnology and personalized medicine in the economies of Asia Pacific region is expected to boost growth over the forecast period. China is expected to witness fastest growth in this region.
The players are engaged in either in-house research or the acquisition of other companies or cross licensing agreements. Such agreements enable the licensing of new intellectual property based on novel proteins that may not be affected by disputes in order to continue development.
Some of the leading vendors operating in the global genome engineering market are Thermo Fisher Scientific, Sigma-Aldrich Corporation, Integrated DNA Technologies, Inc., Sangamo Biosciences, Lonza Group Ltd., and Horizon Discovery Group Plc.
Genome engineering is the synthetic modification of chromosomal DNA by using molecular scissors. Current advances in genome engineering are based on the programmable nucleases that can modify eukaryotic genomes. The global genome engineering market report includes the current and future prospects of the market with an elaborate executive summary, including a market snapshot on various segments and sub-segments. This section also provides the overall information and data analysis of the global genome engineering market with respect to the leading market segments based on type of technology, application, end-user and geography.
The market overview section of the report includes qualitative analysis of the overall genome engineering market including the factors determining the market dynamics such as drivers, restraints and opportunities, along with Porter’s five forces analysis. In addition, various analyses such as market attractiveness analysis by geography and competitive landscape by key players has also been provided. The market attractiveness analysis explains the intensity of competition in the market in different geographies. The competitive scenario between different market players is evaluated through market share analysis. These factors would help the market players to take strategic decisions in order to strengthen their positions and expand their share in the global market.
The global genome engineering market has been segmented on the basis of technology, application, end-user and geography. Based on technology, the genome engineering market has been categorized into two major segments: Clustered regularly-interspaced short palindromic repeats (CRISPR), Transcription activator-like effector nuclease (TALEN), Zinc finger nuclease (ZFN) and other technologies, while the other technologies include antisense technology and recombinant AAV mediated genome engineering. Based on application, market has been segmented into Cell-line Engineering, Animal Genome Engineering, Plant genome engineering and Other Application. Based on end-user, the market is segmented into Pharmaceutical and Biotechnology Companies, Academics and Clinical Research Organizations. Market revenue in terms of USD million for the period between 2013 and 2023 along with the compound annual growth rate (CAGR %) from 2015 to 2023 are provided for all the segments, considering 2014 as the base year.
Geographically, the genome engineering market has been categorized into four regions: North America, Europe, Asia Pacific and Rest of the World (RoW). North America comprises the U.S. and Canada. Europe comprises Germany, the U.K., and Rest of Europe. Asia Pacific comprises China, India, and Rest of Asia Pacific. Rest of World comprises of Latin America, Middle-East & Africa. The recommendations section included in the report would assist existing players to expand their market share and new companies to establish their presence in the genome engineering market. The report also profiles major players in the genome engineering market on the basis of various attributes such as company overview, financial overview, business strategies, product portfolio, and recent developments. Major players profiled in this report include Thermo Fisher Scientific, Inc., Sigma-Aldrich Corporation, Sangamo Biosciences, Inc., Lonza Group Ltd., Horizon Discovery Group Plc, and Integrated DNA Technologies, Inc.
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
- Clinical Research Organizations
Global Genome Engineering Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Rest of the World (RoW)
- Latin America
- Middle-East & Africa