Global Genome Editing Market is valued at USD 5052.2 Million in 2020 and expected to reach USD 15072.3 Million by 2025 with the CAGR of 16.9% over the forecast period.
Rising number of technological advancements, increased focus on highly adaptable CRISPR technology and growing investment in research and development in this field by Government and private organization are anticipated to drive the growth of Global Genome Editing Market.
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Scope of Global Genome Editing Market Report:
Genome editing is a group of technologies that enables gene professionals to change an organism’s DNA. These technologies enable genetic material to be added, altered or removed at particular location in the gene. Genome editing also referred as the gene editing. Genome editing has indicated a good potential for the treatment of genetic disorders, infectious disease and cancer. Genome editing is one of the great interests in the prevention and treatment of human diseases including understanding diseases using animal and cells models, to determine predicted approach is safe and effective for use in human.
Gene editing also being explored in research on a wide range of diseases, including single-gene disorders like hemophilia, cystic fibrosis and sickle cell diseases among others. It is capable to treatment and prevention of more critical disease including cancer, mental illness, heart disease, and human immunodeficiency virus (HIV) infection. The first genome editing advancements were developed in the last part of the 1900s. As recently, another genome editing tool called CRISPR, developed in 2009, has made it simpler than any time in recent memory to alter DNA. CRISPR is easier, quicker, less expensive, and more precise than older genome editing strategies. Numerous researchers who perform genome editing presently using CRISPR.
Key Players for Global Genome Editing Market Report:
Global genome editing market reports cover prominent players like Sangamo Therapeutics, ToolGen, Vertex, CRISPR Therapeutics, Precision Biosciences, Oxford Genetics , Synthego, Vigene Biosciences, EpiGenie, Integrated DNA Technologies, New England Biolabs, OriGene Technologies, Lonza, GenScript, Eurofins Scientific, Editas Medicine, Intellia Therapeutics, Transposagen Biopharmaceuticals, Creative Biogene, Thermo Fisher Scientific, Merck, Horizon Discovery Limited, Agilent Technologies, DanaherCellecta, Genecopoeia, and Calyxt and others.
Global Genome Editing Market Segmentation:
By Product & Services:
- Reagents & Consumables
- Software & Systems
- Cell Line Engineering
- Animal Genetic Engineering
- Plant Genetic Engineering
- Other Applications
- Biotechnology Companies
- Pharmaceutical Companies
- Academic & Government Research Institutes
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News: Vertex and Obsidian Entered Agreement to Develop Gene-Editing Treatments
On April 23rd, 2021; Vertex Pharmaceuticals (VRTX) and Obsidian Therapeutics entered a strategic research partnership and licensing agreement to discover and develop novel therapies that regulate gene editing for treating serious diseases. In this collaboration, Obsidian’s cytoDRiVE technology is used to develop novel regulated gene-editing therapy candidates whose therapeutic activity can be accurately controlled using small molecules.
Rising Number of Technological Advancements, Increased Focus on Highly Adaptable CRISPR Technology and Growing Investment in Research and Development in This Field by Government and Private Organization are Driving the Market growth
One of the major factors driving the growth of global genome editing market is increasing number of technological advancements. For instance; in April 2021, researchers from Wyss Institute for Biologically Inspired Engineering at Harvard created Retron Library Recombineering (RLR), another gene-editing tool that empowered the performance of millions of genetic experiments at the same time, accordingly giving better altering rates. In addition, increased focus on highly adaptable CRISPR technology is also supplementing the market growth. For instance; in April 2021, Vertex Pharmaceuticals paid USD 900 million to CRISPR Therapeutics to develop, produce and commercialize CRISPR-Cas9 gene-edited treatment for beta-thalassemia and sickle-cell sickness.
Furthermore, growing investment in research and development in this field by Government and private organization are also fostering the growth of the global genome editing market. For instance; in January 2018; U.S. government reported giving US$ 190 million for research for the following six years. Additionally, the government wants to develop treatments to treat cancer and different sicknesses utilizing gene editing. Likewise, the National Institutes of Health (NIH) has kept roughly US$ 45.5 million to the side for the following four monetary years for the Somatic Cell Genome Editing program.
However, high cost of genome equipments and ethical concerns regarding modifying an organism’s DNA may hamper the global genome editing market growth. In spite of that, rising focus on implementing preventive maintenance strategies between healthcare organizations and growing government support can offer more opportunities for the global genome editing market growth during the forecast period.
North America is Expected to Dominate Global Genome Editing Market
North America is expected to dominate the global genome editing service market due to the rising awareness about the growing prevalence of genome-related disorders, rising technological advancement and presence of key players in this region. For instance; as per the National Cancer Institute (NCI), in 2020, an estimated 1,806,590 new cases of cancer will be diagnosed in the United States and 606,520 people will die from the disease. In 2019, Thermo Fisher Scientific acquired Brammer Bio to get to Brammer Bio’s expertise in assembling vectors for genes and cell treatments. In October 2020, Scribe Therapeutics teamed up with Biogen for the advancement of CRISPR-based genetic medications for neurological illnesses like Amyotrophic Lateral Sclerosis.
Asia Pacific is expected to witness a fastest growth in the global genome editing market due to the rapid technological advancement, improved focus on highly adaptable CRISPR technology and growing investments made by market players and government in gene editing research in this region. For instance; in November 2020, China declared its ten most critical advances in the farming area, out of which one was gene-editing technology, accordingly addressing the high market entrance of this space in the country. In December 2020, Takara Bio authorized CRISPR genome editing innovation from Merck KGaA (Millipore Sigma). This agreement upgraded Takara’s stem cell service abilities including the advancement of vectors.
- Rest of Europe
- South Korea
- Rest Of APAC
- Rest of South America
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest Of MEA
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Our Market Research Solution Provides You Answer to Below Mentioned Question:
- Which are the driving factors responsible for the growth of the market?
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- How will each segment grow over the forecast period and how much revenue will these segments account for in 2028?
- Which region has more opportunities?
Key Benefits for Global Genome Editing Market Report–
- Global Genome Editing Market report covers in depth historical andforecast analysis.
- Global Genome Editing Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
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- Global Genome Editing Market report covers extensive analysis of emerging trends and competitive landscape.
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