US and China dominate the Genome Editing Market
The Genome Editing market is expected to witness a CAGR of 14.4% to reach $8.3 billion by 2025
Bangalore, India, March 01, 2019: With its recently published study “Global Genome Editing Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the global market for genome editing will continue to grow. The growing collaboration for genome engineering technologies and market expansion opportunities in emerging nations are enhancing the market growth opportunities. However, ethical issues linked to genome editing and high cost of genome engineering technologies are impeding the market growth.
Since its inception, the CRISPR/Cas9 technology has extended worldwide in various applications. In the meantime, these pioneering technologies have become a part of standard system in both research institutions and in many pharmaceutical and biotech establishments. However, CRISPR is not the only technology being used in the genome editing of the organisms. The genome editing market will grow at a CAGR of 14.4% to reach $8.3 billion by 2025.
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North America dominates the genome editing market, followed by Asia Pacific and Europe. The major share of the North America market is from US and Canada. Over 60% of business firms related to CRISPR/Cas 9 technology are in US and Canada. However, the Chinese government is also investing highly for the research related to CRISPR technology with nearly $3.2 million for over 40 projects. In June 2018, CRISPR Therapeutics, Intellia Therapeutics, and Caribou Biosciences obtained US Patent for CRISPR/Cas9 genome editing.
Companies like Novartis and Bayer AG are entering strategic alliance with the CRISPR technology providers to improve their drug discovery techniques for various diseases. In 2016, Bayer entered into a joint venture with CRISPR Therapeutics by name Casebia Therapeutics to explore remedial potentials for genetic diseases with the help of CRISPR-based technology.
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“Collaboration and agreement have been the major trends in the genome editing market. Most of the players in the market are collaborating with other companies or institutes to stay ahead of the competition and to codevelop best technology for genome editing. For instance, in June 2018, Sangamo Therapeutics received UK Authorization of Clinical Trials for Evaluating Zinc Finger Nuclease In Vivo Genome Editing Treatments SB-318 for MPS I and SB-913 for MPS II. Also, in August 2018, Horizon Discovery entered collaboration with major pharmaceutical company on single cell RNAseq-linked CRISPR screening. Such partnerships and collaborations are providing an opportunity for the growth of the genome editing market.,” said Rikitha K Murthy, Research Analyst, Infoholic Research.
Key insights of the report include:
- Key Technology Areas:
- Key Application Areas:
- Cell Line Engineering
- Genetic Engineering
- Key End Users:
- Research Institutes
- Biotechnology and Pharmaceutical Companies
- Contract Research Organizations
- Industry outlook: Market trends, drivers, restraints, and opportunities
Ms. Kathakali Basu
Infoholic Research LLP