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(Health-NewsWire.Net, October 16, 2019 ) Genome editing is a scientific way of modifying DNA of many organisms such as plants, bacteria, and animals. By making changes in DNA it leads to change in physical traits, like eye colour, and disease risk. Scientists use different technologies to carry out to remove, add, or replace the DNA where it was edited. Growing prevalence of chronic diseases and increasing government initiative for genome editing are some of the factors driving the global genome editing market. For instance, in January 2018, The US National Institutes of Health (NIH) has announced a plan to grant US$190 million for genome editing research.
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By technology, the CRISPR genome editing segment holds largest market share of about 13.5% in 2018, and is expected to increase by 15.6% by 2026, for global genome editing market. The CRISPR genome editing market is valued at USD 1,691.0 Mn in 2018 and is estimated to grow at a CAGR of 14.6%. The increasing clinical trial for CRISPR is one of the key factors boosting growth of the segment. For instance, in September 2018, Boston-based Vertex Pharmaceuticals and CRISPR Therapeutics, jointly introduced a trial of an experimental CRISPR-Cas9 therapy for the blood disorder β-thalassemia. By application, the cell line engineering genome editing segment holds largest market share of about 14.2% in 2018. The cell line engineering genome editing market is expected to reach USD 4,570.1 Mn by 2026 growing at a CAGR of 15.6% during the forecast period (2019-2026). North America is dominating the global genome editing market due to the increasing advanced technique in the research institutes based in the United States. Increasing prevalence of genetic diseases, like cystic fibrosis, are occurring at a frequency of 1 in 2,000 birth in the United States which is leading to growth in new research and discovery related to genome editing.
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The rising prevalence of chronic diseases is one of the major factors driving the growth of the market globally. Chronic disease is responsible for 60% of all deaths worldwide. In Americans at least six in ten live with one of chronic disease, like heart disease, cancer, stroke, or diabetes. In 2017, 30.3 million US adults have diabetes. Diabetes is the seventh leading cause of death in the United States. Around 630,000 Americans die from heart disease each year. Coronary heart disease is the most common type of heart disease, killing about 366,000 people in 2015. In addition, the increasing collaboration between companies and research institute for the development of new medicines for cancer using CRISPR technology is also boosting the global genome editing market. For instance, in December 2018, AstraZeneca collaborated with Cancer Research UK and have introduced a centre of excellence in genetic screening, cancer modelling and big data processing aimed at accelerating the discovery of new cancer medicines. However, ethical concerns related to genetic research and unregulated framework are expected to hamper the growth of the global genome editing market.
North America Holds Largest Market Share of Genome Editing Market
Geographically, North America is dominating the global genome editing market due to the increasing advanced technique in the research institutes based in the United States. Increasing prevalence of genetic diseases, like cystic fibrosis, are occurring at a frequency of 1 in 2,000 birth in the United States which is leading to growth in new research and discovery related to genome editing. The U.S. holds 75.2% of market share in 2018, and is expected to increase by 77.2% by 2026, for global genome editing market.
Market Players
The genome editing market is a consolidated market with few major companies occupying more than 65% of the market share in 2018. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are Merck Group, Thermo Fisher Scientific Inc., New England Biolabs, Inc., GenScript USA Inc., Integrated DNA Technologies Inc., Horizon Discovery Group plc, Origene Technologies Inc., Sangamo Biosciences, Inc., Transposagen Biopharmaceuticals, Inc., CRISPR Therapeutics, among others.
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