Merck and Horizon Discovery Group are the Prominent Player in the Genome Engineering Market

(IT-NEWSWIRE.COM, September 19, 2018 ) The global genome editing/engineering market is projected to be valued at USD 3.19 Billion in 2017 and is expected to grow at a CAGR of 14.5% to reach to USD 6.28 Billion by 2022.

Thermo Fisher Scientific (US) is the leading player in the global genome editing market. The company operates in over 50 countries across North America, Europe, Asia, and Latin America. The company’s business segments include Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products & Services. To maintain its position and increase its customer base in the genome editing/engineering market, the company mainly focuses on expanding its market presence by adopting growth strategies, such as acquisitions, partnerships, and collaborations. For instance, in July 2016, Thermo Fisher partnered with healthBioMed (HBM) (China) to support HBM in the development of molecular diagnostics kits. Through this partnership, HBM aimed to develop pharmacogenomics kits and support the precision medicine initiative in China. Furthermore, in March 2016, Thermo acquired Affymetrix (US) to enhance its product portfolio. Moreover, the company invests in R&D activities to increase its depth of capabilities in technologies, software, and services. It invested 5.0%, 4.08%, and 4.09% of its total revenue in 2016, 2015, and 2014, respectively in R&D activities.

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Merck (Germany) held the second-largest in the genome editing market. The company has gained a major share in the market on account of its diversified product portfolio, widespread geographical presence, and focus on strategies such as expansions. In recent years, the company has witnessed tremendous growth in revenue in the genome editing business by pursuing the strategy of expansions to strengthen its business position in the market. For instance, in May 2016, the company expanded its viral and gene production facility in California (US) to meet the growing demand for viral and gene therapy products. The company focuses on R&D activities to develop technologically advanced products for this market. In 2016, the company invested USD 2.19 billion (13.1% of its revenue) in R&D activities.

Horizon Discovery Group (UK) is another prominent player in the global genome engineering market. The company is a leading supplier of genetically defined cell lines, reporter gene assay kits, genomic reference standards, and contract research services. With a diversified product portfolio, wide geographical reach, and focus on inorganic strategies such as acquisitions, collaborations, and agreements, the company has succeeded in creating a strong foothold in the genome editing market. For instance, in January 2015, Horizon Discovery acquired Haplogen Genomics GmbH, a biotechnology company based in Vienna, Austria. The acquisition provided Horizon with a cell line generation platform. It invested 25.6%, 26.3%, and 18.1% of its total revenue in 2016, 2015, and 2014, respectively in R&D activities.

Other prominent players include GenScript (US), Sangamo BioSciences (US), Integrated DNA Technologies (US), Lonza Group (Switzerland), New England Biolabs (US), OriGene Technologies (US), Transposagen Biopharmaceuticals (US), Editas Medicine (US), and CRISPR Therapeutics (Switzerland).

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Merck and Horizon Discovery Group are the Prominent Player in the Genome Engineering Market