Genome Engineering Market Revenue Predicted To Go Up by 2023 with a CAGR of 14.2%

Press Release   •   Jan 02, 2017 04:50 EST

From movies to manuals, genome engineering has been a subject of insatiable curiosity for both the geeky lot and scientists who have been closely studying human evolution. However, very few people really understand the complex structure and intricacies of this branch of engineering.

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Q. What Does Genome Engineering Hold for the Future?

A. Optimists believe that genome engineering might have answers to painful cystic fibrosis and helpless Alzheimer's disease. In fact, if rumors could be true, this branch of engineering might just have a fix for blindness, deafness, and baldness. However, this market is struggling with high costs related to building high tech biolabs that are run by exceptionally trained professionals. However, the good news is that global genome engineering market is still ahead of its game as the academics are gradually catching up technological aspects of it. This field of engineering has been growing at an exceptional pace due to the growing number of applications of cell line engineering, animal genome engineering, and plant genome engineering amongst others. In the current scenario, it is playing a pivotal role in finding solutions pertaining to the complications of human health.

Q. Which Regions Will Lead the Global Genome Engineering Market?

A. According to a research report published by Transparency Market Research, the genome engineering market stood at US$2.20 bn in 2014 and is anticipated to surge at a CAGR of 14.2% from 2015 to 2023. The biggest contributors to this revenue will be North America, Asia Pacific, Europe, and Rest of the World. Out of these, North America will make a significant contribution of and hold about half of market share. Immense government funding for research and development and the strong presence of big companies involved in genome engineering will help North America retain its stance in the coming years as well. The research analysts at Transparency Market Research have also observed that Asia Pacific will expand at a steady pace due generous expenditure on academic research.

Q. Why will CRISPR Technology Emerge as Leader in Global Market?

A. The technologies used in the global genome engineering market are transcription activator-like effector nuclease (TALEN), clustered regularly interspaced short palindromic repeats (CRISPR), and zinc finger nuclease (ZFN) amongst others.

The evolution of CRISPR and CRISPR-associated protein 9 (CRISPR-cas9), have created a stir in the field of genome engineering. The CRISPR technology held the dominant share in the overall market in 2014, closely followed by TALEN. Research analysts state that CRISPR technology will grow at the fastest pace in the coming years due its cost-effective and highly precise results. Today, the evolution of the CRISPR method is being utilized for understanding complications of disorders such as sickle-cell anemia, hemophilia, HIV/AIDS, and several other types of cancers. Currently, these techniques are in various stages of clinical development focused towards modifying the genetic material of somatic cells.

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In the near future, the global genome engineering market will show a remarkable rate of progress due to increasing investments, technological developments, and a growing demand for synthetic genes. Advances in CRISPR-Cas9 genome engineering would positively impact future market growth. Researchers and investors will have to devise ways of solving issues related to the ethical impact of genome engineering and its applications in the modification of the human genes, strict regulatory framework, and the negative perception of genetic research to achieve true success.

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