Transparency Market Research Report Added "Genome Engineering Market" to its database.
Albany, NY -- (SBWIRE) -- 02/23/2016 -- Genome Engineering Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023", the Genome Engineering Market was valued at US$2.20 bn in 2014 and is projected to expand at a CAGR of 14.2% from 2015 to 2023.
Genome engineering refers to the strategies and techniques implemented for the modification of target genetic information of any living organism. During the last few years, research spending has increased in gene editing technologies covering number of patents and research papers published exponentially. Synthetic biology received funding of US$ 430 Mn in the U.S. from 2005 to 2010, which was much higher than US$ 160 Mn in Europe during the same period. About 4% and 2% funding was spent on exploring ethical, social, and legal implications (ELSI) of synthetic biology in the U.S. and Europe, respectively.
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Genome engineering technologies include Clustered regularly-interspaced short palindromic repeats (CRISPR), Transcription activator-like effector nuclease (TALEN), Zinc finger nuclease (ZFN) and other technologies, while the other technologies include antisense technology and recombinant AAV mediated genome engineering. Of these, CRISPR held the majority share of the market in 2014, followed by TALEN. CRISPR has been identified as the fastest growing segment during the forecast period, as it is cost-effective with high precision. CRISPR method is used for wide variety of disorders like sickle-cell anemia, HIV/AIDS, hemophilia and several forms of cancers. These techniques are in different stages of clinical development with a focus on modifying the genetic material of somatic cells.
Based on application, the cell line engineering segment accounted major share of the global genome engineering market in terms of revenue. Moreover, the segment is expected to gain market share and emerge as the fastest growing segment during the forecast period. Pharmaceutical and Biotechnology companies segment would grow as a fastest growing end-user segment with major share in the market.
North America is the largest regional markets for genome engineering in 2014, accounting for more than half of the market share. The region dominated due to high government funding in research and the presence of direct presence of key players in the region. Asia Pacific was identified as the fastest growing market for genome engineering in 2014 due to high spending in academic research which would also propel its market in near future.
Thermo Fisher Scientific, Inc., Sigma-Aldrich Corporation, Sangamo Biosciences, Inc., Lonza Group Ltd., Horizon Discovery Group Plc, Integrated DNA Technologies, Inc., Lonza Group Ltd., are the major players operating in the global Genome engineering market.
The Genome engineering market has been segmented as follows:
Global Genome Engineering Market, by Technology
Clustered regularly interspaced short palindromic repeats (CRISPR)
Transcription activator-like effector nuclease (TALEN)
Zinc Finger Nuclease (ZFN)
Global Genome Engineering Market, by Application
Cell Line Engineering
Animal Genome Engineering
Plant Genome Engineering
Global Genome Engineering Market, by End-User
Pharmaceutical and Biotechnology Companies
Clinical Research Organizations
Global Genome Engineering Market, by Geography
Rest of Europe
Rest of Asia Pacific
Rest of the World (RoW)
Middle-East & Africa
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