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Genome Engineering Market Value Projected to Expand During 2018-2026 With Key Players Thermo Fisher Scientific Inc., CRISPR Therapeutics AG, Intellia Therapeutics, Inc., Editas Medicine

05-22-2019 01:45 PM CET | Health & Medicine

Press release from: Coherent Market Insights - Biotechnology

Genome Engineering

Genome Engineering

The global 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.

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Market Dynamics

Development of novel technologies in genome engineering field is expected to significantly drive growth of the global 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.

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.

Increasing development of novel technologies in genome engineering is expected to drive growth of the global genome engineering market in the near future

Key players in the market are focusing on developing novel technologies and launching new products for genome engineering, in order to increase their market share. The launch of latest Cas9 enzyme variant is a major step towards therapeutic use of CRISPR. In 2017, Scientists at Salk Institute for Biological Studies, modified CRISPR to epigenetically treat diabetes, kidney disease, and muscular dystrophy. They developed a latest version of CRISPR/Cas9 genome editing technology, which allows for activation of genes without creating breaks in the DNA. The development of such novel technologies is expected to be major driving factor for growth of global genome engineering market.

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.

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Increasing strategic collaboration for genome engineering technologies by key players is expected to drive market growth in the near future

Players in the market are focusing on strategic collaborations, in order to increase their product offerings. For instance, in February 2018, Kite Pharma, Inc.—a Gilead Sciences, Inc. company— collaborated with Sangamo Therapeutics Inc. for developing engineered cell therapies to treat cancer. As per the agreement, Kite Pharma, Inc. will use Sangamo Therapeutics’ zinc finger nuclease (ZFN) gene-editing technology for developing next-generation ex vivo cell therapies for treatment of cancer. Furthermore, in 2017, Synthego and Thermo Fisher Scientific collaborated to manufacture and distribute synthetic guide RNA products for CRISPR genome engineering. In 2016, CRISPR Therapeutics and Bayer AG collaborated and formed a joint venture Casebia Therapeutics, for developing CRISPR-based therapeutics in select disease areas.

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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