DNA Editing Market will retain double digit growth to beat the revenue of $7.5 billion by 2024

DNA Editing Market will retain double digit growth to beat the revenue of $7.5 billion by 2024

U.S. DNA editing market share was USD 518.5 million in 2015 driven by robust growth trend manifested by pharmaceutical and biotechnology industries and adoption of advanced technologies like CRISPR to treat chronic hereditary disorders

SELLBYVILLE, Del., May 14, 2018 /PRNewswire-iReach/ -- Stanford researchers' recent track of cancer growth via genome editing is a strong indicator of the ongoing developments across DNA editing market. Elaborating further, a unique technique has been brainstormed by the Stanford scientists thriving on DNA barcoding and genome editing, that efficiently detects the effect of cancer induced genetic interactions. According to the scientific journal, 'Nature Genetics', the study aims to help researchers to have a better knowhow of how genetic related cancer interactions trigger tumor growth. This would allow scientists to analyze and replicate the genetic diversity of cells that are found in cancer patients, allowing an improvement in cancer research and subsequent drug development.

In recent years, prevalence of infectious diseases, cancer and other genetic disorders has observed a major spike. The burgeoning need to prevent the incidences of such nearly fatal ailments is prompting DNA editing industry players to come up with innovative medical technologies. While gene editing techniques for various blood related disorders has been around for a while now, the business space is also deemed to penetrate extensively across infectious disease application over the coming period. As per estimates, overall gene editing industry from infectious disease sector is likely to witness an escalating CAGR of 15.2% over 2016-2024.

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In this regard, it is imperative to mention that the extensive development of CRISPR platform has immensely simplified the process of genome editing, especially in making targeted DNA modifications. This pointer has undoubtedly broadened the application scope of DNA editing industry, especially across the pharma domain. If reports are to be relied on, together pharma and biotech accounted for a gigantic share of 58% of the overall business space in 2015, on ground of its applications in drug discovery and therapeutics. The fact CRISPR can enable multiple edits at one time, in addition to its other beneficiaries like specificity, speed, and simplicity, have made its presence felt in the DNA editing marketplace.

The potential of this breakthrough gene editing technology has been a subject of contention and hype among the healthcare fraternity over the recent years. This is quite vividly evident from the increasing number of M&A activities taking place between DNA editing market giants and drug makers in a bid to quicken the clinical utilization of this technology. Statistics claim, CRISPR technology-based gene editing market is estimated to exceed a valuation of USD 3 billion by 2024. Other notable technologies receiving a similar kind of attention in the business space include Mega nucleases, Zinc Finger Nucleases, and TALENS.

Considering the fact that technological interventions play a crucial role in DNA editing market augmentation, major economies like UK, U.S. and Japan undeniably hold a stronger growth prospect. In fact, UK alone accounted for nearly 41% of the overall market share in 2015 and is deemed to carve a y-o-y growth of 14.9% over 2016-2024. Growing geriatric population base vulnerable to chronic diseases, enhanced healthcare architecture, and strong governmental backup are few of the prime factors stimulating the regional business space. Japan, another opportunistic investment spot for gene editing market players, is also claimed to witness a double digit CAGR of 15% over 2016-2024.

Despite appreciable advancements in research activities and increased government funding programs, DNA editing market space still witnesses major penetration issues across some of the technologically downtrodden belts. In what may be touted as an effort to respond to the challenge, key industry players have been feverishly approaching strategic collaboration for outsourcing various R&D activities. For instance, U.S. based DNA editing industry giant Sigma-Aldrich Corporation signed an agreement with Broad Institute of MIT and Harvard, for the utilization of CRISPR/Cas technology. With the increasing deployment of technological interventions in healthcare space and a subsequent demand for personalized medicines, DNA editing market is certain to carve a profitable roadmap over the ensuing years.

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