Genetic engineering is an advanced technology that modifies chromosomal DNA of animals and plants using molecular scissors (such as restriction enzyme that cut DNA into pieces). Genome engineering is now in the forefront of healthcare gaining traction with its use to fight diseases such as cancer, HIV, Malaria, sickle cell diseases.
The global genome engineering market to grow at a CAGR of 12.25% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global genome engineering market for 2016-2020. To calculate the market size, the report considers the revenue generated from the clustered regularly interspaced short palindromic repeats technology. The report also includes a discussion of the key vendors operating in this market.
Increased development of synthetic biology will be a key trend for market growth. Synthetic biology is a process of redesigning and constructing new biological parts, that do not exist in the natural world. The increasing R&D expenditure in pharma and biotech companies, increased government funding, and advanced technology in genome engineering, have increased the demand for Synthetic biology The production of synthetic genes is nowadays possible through genome engineering techniques (CRISPR, ZNF, TALEN).
According to the report, increased focus on human genomics will be a key driver for market growth. Human genome project has vast potential applications of genetic engineering, and it requires effort to understand and map the DNA of human's when compared to other organisms. To understand and sequence the human genome, the Department of Energy and the National Human Genome Research Institute in the US and their partners in the International Human Genome Sequencing Consortium initiated the Human Genome Project in 1990. The project sequenced only the euchromatic regions that constitute 90% of the genome including 20,000-25,000 genes. The successful completion of the project in 2003 led to improvements in DNA technology.
Further, the report states that stringent regulatory policies will be a challenge for the market. The stringent policies of genetic engineering have restricted the market worldwide. Though the regulatory rules vary from country to country, they all have strict regulatory policies when it comes to release of any genetically modified organism. Europe does not have single regulatory policies but it has a cluster of policies at international, community, member state, and local levels. In Europe, the usage of gene therapy in human embryo is restricted.
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- Horizon Discovery
- Integrated DNA Technologies
Other prominent vendors
- New England Biolabs
- Sangamo BioSciences
- Thermo Fisher Scientific
- Transposagen Biopharmaceuticals
For more information about this report visit http://www.researchandmarkets.com/research/mxhtkp/global_genome
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/research-and-markets---global-genome-engineering-market-2016-2020-genscript-horizon-discovery--integrated-dna-technologies-dominating-300343528.html
SOURCE Research and Markets