Genetic Modification Therapies Market: Introduction
- Genetic modification therapies enables the transfer of genes for specific traits between species utilizing laboratory techniques. Genetic modification therapy is a process of deletion, insertion, modification or replacement of DNA bases in an organism. There are two different types of gene therapies: Ex-Vivo Gene Therapy and In-Vivo Gene Therapy. Ex-vivo gene therapy includes the transfer of genes in cultured cells and subsequent reintroduction in a patient, while in In-vivo gene therapy, genes are directly offered in cells of a particular tissue.
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- Different techniques used in genetic modification technologies are TALEN, CRISPR, ZFN, and CRISPR. These are innovative genetic modification tools that enable researchers to modify the parts of the genome by removing, adding, or altering sections of the DNA sequence. CRISPR is a faster, accurate, and cheaper technique to modify DNA, as compared to that of others methods including TALEN and ZFN. Transcription activator-like effector nucleases (TALEN) is the technology generally used in live cell gene modification. Zinc-finger nucleases (ZFNs) is an artificial restriction enzyme that simplifies targeted modification of genome by creating double-strand breaks in DNA at user-specified locations.
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Key Drivers, Restraints, and Opportunities of Global Genetic Modification Therapies Market
- A genetic modification therapy was considered unachievable at one of time; however, presently it has become widely acceptable trend in various big and small companies. These trends have prompted the establishment of various startups working on this therapy and are backed by big companies. Additionally, new molecules to be used for gene therapy are ready to reach the commercialization stage. All the factors mentioned here are expected to drive the genetic modification therapies market.
- Rising funding and investments for the development and research of novel genetic modification technologies is also anticipated to drive the market. For instance, in January 2018, the U.S. National Institutes of Health (NIH) announced a grant US$ 190 million for genome editing research. This novel program, Somatic Cell Genome Editing, is expected to award funds to biomedical researchers over the next six years. The support from major research organizations including NIH is likely to attract more researchers in this field, which in turn may lead to advancements in technology and subsequently, propel the market.
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- High cost of genome modification technologies is a major factor that is projected to restrain the genome modification market during the forecast period. For instance, as per the fees chart provided by Yale Genome Editing Center, in 2018, it charges between US$ 8,000 and US$ 15,000 for gene editing facilities. The high cost associated with genome modification facilities is estimated to hamper the market, especially in emerging economies Including India, China, Brazil, and South Africa. Moreover, genome modification is a highly complex technology and needs skilled researchers, which further hinders its adoption.
- On the other hand, unethical use of these therapies and related concerns are likely to hamper the market. Limited knowledge and lack of awareness about genetic modification therapies in developing regions are also projected to restrain the genetic modification therapies market.
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Europe to Capture Major Share of Global Genetic Modification Therapies Market
In terms of region, the global genetic modification therapies market can be segmented into Europe, Latin America, North America, Asia Pacific, and Middle East & Africa. Of these regions, Europe is expected to lead the global market during the forecast period. Effective regulatory policies and efficient approval process by the European regulatory body further boost the genetic modification therapies market in the region.
The market in North America is also anticipated to expand at a significant rate, as several large and small companies are involved in overall clinical trials.
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Key Players Operating in Global Genetic Modification Therapies Market
The global genetic modification therapies market is highly fragmented, with the presence of various key players. A large number of manufacturers hold a major share in their respective regions.
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