Uptick in Funding for Genome Research to Augur Well for Growth of Global Genome Engineering Market, Reports Tmr

Due to the presence of a small number of leading international players and few regional players, the competitive rivalry in the global genome engineering market is expected to remain moderate, reports Transparency Market Research in a new study. The market is dominated by three leading companies, Thermo Fisher Scientific, Inc., Sigma-Aldrich Corporation, and Sangamo Biosciences, Inc. These companies together accounted for 73.5% of the overall global revenue in 2014. 

The emergence of small regional players in the genome engineering market has impelled the leading companies to focus on innovative product development. They are also focused on the development of differentiated products to maintain their lead in the global as well as regional markets. To produce innovative and technologically advanced products, companies are entering into agreements with research institutes and laboratories and investing in research and development projects.

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Increasing Investments by Pharmaceutical and Biotechnology Companies to Boost Adoption of Genome Engineered Techniques

With the emergence of new trends in the treatment of genetic diseases, pharmaceutical and biotechnology firms have realized the need for advanced gene editing technologies for detecting genetic anomalies. Leading firms are focusing on the mutation of cells to curb cell and genetic diseases. According to a TMR analyst, “To gain technology relating to gene editing, pharmaceutical companies are either investing in the ongoing projects of medical organizations or entering into a collaboration with them.” 

For instance, in October 2015, in order to develop treatments for human genetic disorders, Vertex Pharmaceuticals a cystic fibrosis drug maker, entered into an agreement with CRISPR Therapeutics, a gene editing tech company.

The increasing funding by governments and...