Genome Engineering Market to Clock CAGR of 10.9% from 2019 to 2027; CRISPR Gene Edition Tools Present Sizable Revenue Streams, TMR - Seite 2

Genome Engineering Market: Key Driving Factors and Promising Avenues

Past few years have seen extensive research in gene therapies, evident in the growing popularity of CRISPR-Cas9 gene editing technology. A number of biotech, pharmaceutical, and agrochemical companies are increasing their stakes in gene engineering market. The potential of gene modification techniques for addressing several human diseases has motivated them to adopt various approaches in genome therapies.

Research in recombinant DNA technologies and cell line engineering has led to breakthroughs in gene therapies, spurring new applications in the genome engineering market.

In recent years, players in the genome engineering market has seen the use of gene editing tools in plant biology research. An important example is the use of CRISPR/Cas9 in plant genome engineering.

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Key Impediments for Genome Engineering Market Players

The unprecedented potential of gene therapies notwithstanding, the regulatory frameworks in numerous key markets is not yet developed and hence unfavorable. A few regulations such as Cartagena Protocol on Biosafety and norms made by United Nations Food and Agricultural Organization are in place. Nevertheless, the regulations do not encompass gene editing technologies; rather they focus on products.

Another key constraint is developing economies lack research funding, so that commercialization of gene editing platforms take time. Societal and ethical issues related to animal welfare also need to be taken into account for industry stakeholders willing to increase their footprints in the global genome engineering market.

Global Genome Engineering Market: Competitive Landscape

Several players in multinational pharmaceutical companies, biotech companies, and agrochemical players have increased their stake by entering into strategic collaborations and partnerships. They are harnessing the potential of modern gene editing tools for stem cell research and drug formulations. Globally prominent life sciences companies are proving their might with large-scale manufacturing facilities, and are leaning to addressing the need for disease diagnostics and therapeutics.