The global genome editing market is anticipated to reach USD 8.1 billion by 2025, according to a new report by Grand View Research, Inc. Key drivers attributing to the expansion include early applications of DNA editing to therapeutics.
Use of the technology for the disease eradication through direct correction of disturbances in normal physiology, engineering the immune response, and alteration of pathogen targets in the host is anticipated to drive the market with substantial opportunities.
The ability of genome editing therapies to offer a significant improvement over current treatment options is important in enabling editing technologies to capture significant revenue share. Improved efficacy, reduced side effects, and the potential for cure for specific diseases, can be attributed to induce growth in the coming years.
Moreover, technological advancements with respect to the development of novel vectors for delivery is anticipated to fuel growth in the coming years.
Rising competition amongst the operating entities in order to gain the larger share of revenue is also responsible for the projected growth. These companies leverage industry collaborations for the acceleration of diversified product pipelines.
Further Key Findings from the Study Suggest:
- There has been great excitement surrounding the highly adaptable CRISPR technology.
- The increased ease of retargeting and the ability to multiplex goes a long way toward explaining the speed with which CRISPR-centric companies have sprung up.
- Ex-vivo mode of delivery accounted for the largest share of the revenue.
- Therapy through ex-vivo mode of delivery allow the control over the specific dosage of therapeutic molecules delivered to cells.
- Cell line engineering dominated with respect to revenue generation owing to the high utilization of technology in stem cell engineering.
- There is comparatively, higher adoption of the technology in the biotechnology and pharmaceutical organizations for the purpose of therapeutic development.
- Availability of other services such as gRNA library production and screening service along with editing is anticipated to propel growth in the outsourcing services.
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- Asia Pacific is anticipated to witness fastest growth over the forecast period owing to rising penetration of technology in comparatively immature market.
- Key players contributing in this market are Thermo Fisher Scientific, Inc., Sangamo, Editas Medicine, Recombinetics, Inc, Sigma Aldrich Corporation, CRISPR THERAPEUTICS, Intellia Therapeutics, Inc., Caribou Biosciences, Inc.
- These participants are capitalizing on unique advantages offered by the nuclease technology, they are working on.