Global Genome Engineering Market Propelled by Introduction of Novel CRISPR Technology
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.
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.
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.
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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.
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.
For more
Information visit: http://www.tmrblog.com/2016/05/genome-editing-engineering-market.html
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