Gene Editing Market Research Report, By Methods (Crispr, Talen, Zfn, Antisense Technology And Others), By Applications (Plant Genetic Engineering, Animal Genetic Engineering, Gene Therapy, Microorganisms Genetic Engineering), By End User (Biotechnology, Pharmaceutical, Contract Research Organization) – Global Forecast Till 2023
Gene Editing Market Overview:
Gene editing has generated a lot of enthusiasm in drug research and development institutes owing to its ability to alter genetic mutations that can cause disease. Market Research Future predicted that the gene editing market will attain a CAGR of 18.30% in forecast period 2017-2023.
Gene editing method helps to create and control genetic information in the patient’s cells. It is now essential for drug discovery and diagnosis, as well as for the precise drugs that stimulate market growth. Given the fact, the limitations of the gene editing market are a strict regulatory policy and an unfavorable public perception of genetic research. The rising prevalence of cancer and other genetic disorders, combined with the increasing demand for personalized drugs, is expected to spur the expansion of the gene editing industry. In addition, the increase in government funding programs will have a significant impact on sector growth over the forecast period.
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Recent developments in CRISPR gene editing tools and their ease of use have attracted considerable interest in the biomedical community. CRISPR-based genetic processing has great potential to adapt to the therapeutic landscape of induced disorders. Among the genetic processing tools, there are potential applications for CRISPR in the human medicine market as well as in veterinary medicine.
Many biopharmaceutical companies are focusing on developing innovative drugs for various genetic diseases due to the high global disease burden and their considerable commercial potential. The growing demand for synthetic genes, significant investments in R&D, technological advances in molecular biology are other parameters that contribute to the growth of the sector.
Most of the major regional players in the Gene Editing Market are focused on increasing the reach and connectivity of their products with the help of national gene editing device distributors. In addition, manufacturers of genetic editing tools wish to strengthen their activities in fast-growing markets by expanding their sales and distribution channels. These major players include GenScript USA Inc., Horizon Discovery Group plc, OriGene Technologies, Inc., Integrated DNA Technologies, Inc., New England Biolabs, Lonza Group Ltd Inc., Sigma-Aldrich Corporation, Sangamo Biosciences, Inc., Thermo Fisher Scientific, Inc., and Transposagen Biopharmaceuticals, Inc.
For the first time, scientists used the CRISPR-Cas9 genetic processing tool to treat an HIV patient in China. The patient improved after the procedure and had no side effects. Scientists at Peking University in Beijing used CRISPR to suppress the CCR5 stem cell gene in a particular bone marrow. CCR5 is known to contribute to HIV infection.
The global gene editing market can be segmented by methods, applications and end users for better understanding and analysis.
On the basis of methods, the gene editing market includes, transcription activator-like effector nucleases (TALEN), clustered regularly interspaced short palindromic repeats (CRISPR), zinc finger nucleases (ZFN), antisense technology.
The application segmen of the gene editing market can be classified into animal genetic engineering, plant genetic engineering, gene therapy, and microorganism’s genetic engineering.
Moreover, based on the end-users, the gene editing market is bifurcated into contract research organizations, biotechnology, and pharmaceuticals.
The Americas is the leader with the maximum participation in the global market. It is the US presence that has the most impact on growth. Infrastructure superiority, sufficient funding from public and private organizations, and leading research technology are windfalls for the market growth.
Europe follows America’s footsteps. Similar characteristics gave the regional market a prominent place. In addition, the market is promoted by the presence of various organizations involved in such research.
The APAC region expects the fastest growth during the forecast period. Emerging economies are investing heavily to stimulate the regional market. In addition, market giants’ focus on this region to expand their business owing to the prospects are quite high due to the associated profitable costs.
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