Genome Engineering Market Progresses for Huge Profits by 2026

The ****** Genome Engineering Market was valued at US$ 2,582.7 Mn in 2016 and is expected to witness a CAGR of 14.3% over the forecast period (2017–2025).

Genome engineering is a technique in which a DNA is inserted, deleted, modified or replaced in the genome of a living organism. Research and development activities are conducted in genome engineering for the development of novel technologies. For instance, in 2017, Synthego Corporation launched a CRISPR Pioneers Program to expand genome engineering research. Researchers are majorly focusing on developing treatments for cancer and rare diseases with the help of genome engineering tools such as CRISPER. Many genome technologies are under trial for treatment of such diseases, and are expected to receive approvals in the near future.

Market Dynamics

Development of novel technologies in genome engineering field is expected to significantly drive growth of the ****** genome engineering market in the near future. For instance, in 2017, Merck KGaA— Germany-based company—developed a new genome editing tool dubbed ‘proxy-CRISPR’, providing access to previously inaccessible microenvironments of the genome by modification of chromatin modifications. In 2017, Benson Hill Biosystems, Inc.—an agricultural technology company—launched its latest CRISPR 3.0, to increase innovators’ access to gene editing. CRISPR 3.0 is a latest innovative genomics tool, which is expected to improve crop performance. Development of such novel technologies by major key players is expected to create a conducive environment for growth of market.

Furthermore, increasing strategic collaborations by major key players for genome engineering technologies is also expected to drive market growth. For instance in 2015, ToolGen, Inc.—a South Korea-based company—collaborated with Thermo Fisher Scientific and licensed its CRISPR/Cas9 intellectual property portfolio to Thermo Fisher Scientific. This license agreement has strengthened the relationship between ToolGen and Thermo Fisher in the area of genome editing. In 2014, Cellectis Bioresearch and Thermo Fisher Scientific entered into a strategic collaboration agreement covering the uses of TAL nucleases under the brand name TALEN. As per the agreement, Thermo Fisher Scientific is granted a worldwide license under Cellectis’ rights to the TAL nucleases outside the therapeutic field. Thermo Fisher will market TALEN for these applications under its Life Technologies brand. In 2014, Bluebird Bio, Inc. acquired Precision Genome Engineering (Pregenen) at US$ 139.9 Mn. This acquisition has helped the company to use Pregenen’s MegaTALs, originally developed by Precision Genome Engineering. In 2014, Biogen Idec and Sangamo BioSciences, Inc. entered into a collaboration agreement for the development of treatment of Hemoglobinopathies. According to the collaboration, Biogen Idec will use Sangamo’s proprietary zinc finger nuclease (ZFN) genome-editing technology.

High cost of genome engineering technologies is expected to be the major factor, restraining growth of the genome engineering market over the forecast period. For instance, according to the fees chart provided by Yale Genome Editing Center, in 2018, it charges between US$ 8,000 and US$ 15,000 for gene editing facilities. The high cost associated with genome engineering facilities is expected to hamper the market growth, especially in emerging economies such as India, Brazil, and South Africa. Moreover, genome engineering is a very complex technology and needs high skilled researchers, which limits its adoption rate.

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Key players operating in the 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 Merck Group.

Moreover, increasing funding and investments for the development and research of new genetic engineering technologies is also expected to drive market growth. For instance, in January 2018, the U.S. National Institutes of Health (NIH) announced to grant US$ 190 million for genome editing research. This new program, Somatic Cell Genome Editing, will award funds to biomedical researchers over the following six years. The support from major research organizations such as NIH is expected to attract more researchers in this field, which may lead to advancements in technology and also aid in growth of the market.

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