Market Trends of Global Genome Editing Industry
This section covers the major market trends shaping the Genome Editing Market according to our research experts:
Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) is Expected to Hold a Significant Market Share Over the Forecast Period
The rise in funding and initiatives by the government to develop vaccines, medical technologies, drugs, and devices are further propelling the growth of the genome editing market globally. Additionally, the research studies conducted for CRISPER technology are another factor for the market's growth. According to the study titled 'CRISPR-Cas9 Gene Editing for Sickle Cell Disease and β-Thalassemia' published in the New England Journal of Medicine in January 2021, CRISPR-Cas9-based gene editing is being tested to treat two cases of inherited diseases: one in a patient with TDT (β-Thalassemia) and the other in a patient with SCD (Sickle Cell Disease). During the 12 months following the administration of CTX001, both patients experienced early, substantial, and sustained increases in fetal hemoglobin levels with more than 99% pancellularity. Thus, the application of CRISPR technology in Sickle Cell Disease and β-Thalassemia is expected to rise its demand over the forecast period.
Product launch is another factor in the market growth. In September 2020, The Tata CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) FELUDA test, powered by CSIR-IGIB (Institute of Genomics and Integrative Biology), FELUDA test, received regulatory approvals from the Drug Controller General of India (DCGI) for commercial launch, as per ICMR guidelines, test meeting high-quality benchmarks with 96% sensitivity and 98% specificity for detecting the novel coronavirus. This test uses an indigenously developed, cutting-edge CRISPR technology for the detection of the genomic sequence of the SARS-CoV-2 virus. CRISPR is a genome-editing technology for diagnosing diseases. Additionally, in December 2021, Thermo Fisher Scientific recently introduced its new protein, Invitrogen TrueCut HiFi Cas9 Protein, to complement its growing CRISPR gene editing solutions portfolio.
Thus, owing to the abovementioned factors are expected to drive the CRISPR technology market over the forecast period.
North America is Expected to Dominate the Market Over the Forecast Period
The Genome Editing market is dominated by North America due to the strong growth trend in the pharmaceuticals and biotechnology industries. Factors such as technological innovation in genome editing technology, increasing product approvals, and rising research and development procedures are expected to increase the market growth during the study period.
In March 2021, scientists at the University of California (UC), San Francisco, UC Berkeley, and UC Los Angeles have received the United States Food and Drug Administration approval to jointly launch an early phase, first-in-human clinical trial of a gene correction therapy in patients with sickle cell disease using the patient's blood-forming stem cells.
Similarly, in October 2020, Merck signed a licensing agreement with Takara Bio USA, Inc. Through this agreement Merck has licensed its CRISPR technology to Takara to develop vectors and other innovative products to support research using CRISPR as well as cell engineering services, particularly stem cells.
Additionally, in March 2021, Health Canada proposed new guidelines for the Novel Food Regulations, specifically focused on plant breeding stating that gene-editing technology in agriculture is just as safe as conventional plant breeding. These guidelines provide more certainty for plant breeders and crop science companies. Such steps by the government are expected to expand the applications of CRISPR thus, boosting the studied market.
Additionally, in April 2022, a research study published titled "Transcription activator-like effector nuclease (TALEN) as a promising diagnostic approach for COVID-19" stated that TALEN has many advantages, such as unlimited target sites and high specificity. Compared to other methods, it has shown promising results and potential and serves as an essential genome editing tool for diagnostic work-up and treatment issues in infectious diseases. The characteristics defined for this technique are promising, i.e. potential for rapid, on-site, and non-expensive diagnostic work-up, especially during pandemics. Hence, such studies would increase the market growth in the region.
Thus, the abovementioned factors are likely to increase market growth in the upcoming future.
