Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The global genome engineering market was evaluated at US$ 2,582.7 million in 2016 and is projected to register a magnificent CAGR of 14.3% over the forecast period (2017-2025).
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The introduction of novel technologies in genome engineering is a pivotal aspect accelerating the growth of global genome engineering market. In 2017, Synthego Corporation launched its CRISPRevolution Gene Knockout Kit (GKO), with the first guaranteed CRISPR gene editing solution. The new Synthego’s kits rapidly modifies difficult-to-edit human hematopoietic stem cells, as well as primary T cells, in a cost-effective manner.
In 2017, Thermo Fisher Scientific–a U.S.-based player– launched its expanded Invitrogen TrueEdit genome editing toolkit, which was designed to address the full spectrum of genome editing needs. In January 2018, Synthego Corporation introduced its new CRISPR Analysis Software, Inference of CRISPR Edits (ICE) into the global market. Thus, the launch of such efficient and innovative genome engineering technologies is expected to create innumerable growth prospects for the global genome engineering market in the foreseeable future.
Strategic collaborations are expected to positively affect the global market growth. For instance, January 2018, two major key players, Sangamo Therapeutics Inc. and Pfizer Inc. entered into a strategic collaboration agreement, for the development of potential gene therapy using zinc finger protein transcription factors (ZFP-TFs), to treat amyotrophic lateral sclerosis (ALS). Furthermore, in 2016, Editas Medicine, Inc. Editas Medicine, Inc. entered into strategic collaboration for research and development in genome edited hematopoietic stem cell (HSC) and T cell therapies. Furthermore, increasing funding and investments for development and research of new genetic engineering technologies is also expected to drive the market growth.
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Key Market Takeaways:
- North America is projected to stand out as the leading market for genome engineering over the forecast period, owing to the significant presence of the key market players and increasing research and development activities for development of novel genome engineering technologies. For instance, in 2017, Integrated DNA Technologies, Inc., a U.S.-based company, launched the first Cas9 enzyme variant, which reduces off-target effects in CRISPR genome editing.
- Asia Pacific is expected to witness fast-paced growth over the forecast timeframe, owing to the increasing research and development in China in genome engineering. For instance in 2016, Chinese scientists injected cells modified with the CRISPR-Cas9 gene-editing technology in human.
- The most prominent players operating in the global genome engineering market include Thermo Fisher Scientific Inc., CRISPR Therapeutics AG, Intellia Therapeutics, Inc., Editas Medicine, Inc., Sangamo Therapeutics, Inc., Bluebird Bio, Inc., Cellectis S.A., and the Merck Group.
- These players are deeply focused on strategic collaborations with the renowned research institutes and genome engineering companies for using their genome engineering technologies in order to develop new medicines.
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