The global genome editing market is expected to reach US$ 10,691.0 Mn 2025 from US$ 3,210.1 Mn in 2017. The market is anticipated to grow at a CAGR of 17.0% in the forecasted period.
The increase in funding for the genome editing market is anticipated to grow in the coming near future which is driving the market. The various different government in the different regions are increasing their funds and grants for the development of the genome editing research. Owing to the advantages of the genome editing various government are supporting their public and private research and academic institutes for the increasing the research activities for the genome editing and genetic engineering. Across the world funding are being provided by every nation. For instance, in January, 2018 US government announced donating US$ 190 million for research for the next six years. In addition, the government is hoping to develop therapies to treat cancer and other diseases using gene editing. In addition, the National Institutes of Health (NIH) has kept approximately US$ 45.5 million separate for the next four fiscal years for Somatic Cell Genome Editing program. Moreover, in the Asia Pacific region, the countries are also investing more for the development of the genome editing technology since two three years back. For instance, in April 2016, Japan invested approximately US$76million for the five years for the creation of Japanese owned genome editing technologies. Likewise, in every region the governments are spending more to conduct the genome editing so as to enhance the development of genome editing for the diagnosis and therapeutic use so as to treat the chronic genetic diseases.
The advantages of the CRISPR technology is found to be the revolutionary technique in the field of the biotechnology and it used for every procedure of the genome editing. The companies are engaged in the developing the techniques for its applications. For instance, Merck KGaA is multinational pharmaceutical, chemical and Life Sciences Company operating in business segments including healthcare, life science and performance material. In April, 2018, the company has received patent for CRISPR technology which used in genomic-integration method for eukaryotic cells. The patent was given by Chinese Patent Office. In addition, in February 2018, The Korean Intellectual Property Office and the Israel Patent Office granted individual patents to Merck for the company’s CRISPR technology used in a genomic-integration method for eukaryotic cells. Furthermore, in May, 2018, the company has collaborated with the Washington University in St. Louis, Missouri, USA, which led to the optimizing of nutritional supplements to restore a healthy gut microbial community (microbiome). The collaboration have utilized the CRISPR genome-editing technology for the research studies. Thus, the increase in the developments for the genome editing is likely to growth the market of genome editing in the coming forecast years.
