The CRISPR and CAS gene editing technology enables modifications to be made in DNA sequences and specific genes. It helps in correcting genetic defects and mutations responsible for diseases and genetic disorders. The technology involves using CRISPR-Cas9 enzymes or RNA-guided nucleases to cut DNA at a desired location and allow precise genetic alterations. CRISPR allows permanent editing of any genome with simple RNA script. The technology offers targeted, permanent and heritable alterations to DNA (unlike existing gene therapies), which makes it a promising tool for developing new treatments. It helps develop new crops with desired traits like drought resistance and enhanced nutrition.
The global CRISPR and CAS gene Market is estimated to be valued at US$ 1.54 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The CRISPR and CAS Gene Market is expected to be flourished by advancements in genome editing technologies. One of the key drivers for the market growth is the increasing investments by key players in R&D activities for development of new CRISPR -based therapeutics and diagnostics. For instance, Rescroft Ltd., a leader in genome engineering, has invested over US$ 100 Mn in 2020 for development of CRISPR-based therapies for diseases like cancer and genetic disorders. The technology offers promising treatment approaches by precisely editing genes associated with the causes and development of diseases. This in turn is expected to drive the demand for CRISPR systems and components during the forecast period. In addition, rising prevalence of genetic disorders globally due to changing lifestyle is another factor fueling the market growth. CRISPR technologies provide opportunities to develop new preventive measures through genetic screening and personalized gene therapies.
Segment Analysis
The CRISPR and CAS Gene Market can be segmented into products, application, end use and region. By products, the market is divided into vector-based Cas and DNA-free Cas. DNA-free Cas dominates the market currently due to advantages like being more efficient. By application, the market is segmented into genome engineering, disease models, functional genomics and others. Genome engineering dominates and is expected to see highest growth due to growing adoption of CRISPR systems for modifying genomes. By end use, the market is divided into biotechnology and pharmaceutical companies, academic institutions and research laboratories, contract research organizations. Biotechnology and pharmaceutical companies dominate currently due to focus on research and development of therapies.
PEST Analysis
Political: Government regulations related to research involving gene editing technologies determine market growth. Some countries have banned commercial uses.
Economic: Rising investment in healthcare and biotech sectors drives market growth along with funding for genomic research. Economic slowdowns may impact growth.
Social: Growing acceptance and understanding of genetic technologies in society positively influences market. Ethical issues related to gene editing temper growth.
Technological: Advancements in CRISPR systems improving their efficiency, ease of use and versatility increases their adoption. Development of new delivery methods and expansion of application areas supports growth.
Key Takeaways
The Global CRISPR And CAS Gene Market Size is expected to witness high growth over the forecast period on account of growing application of gene editing technologies. The global CRISPR and CAS Gene Market is estimated to be valued at US$ 1.54 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030.
Regional analysis: North America currently dominates the market due to presence of major players and research hubs like United States. Asia Pacific is expected to be the fastest growing region during the forecast period. Governments of countries like China and India are aggressively funding genomics research which is driving market growth.
Key players: Key players operating in the CRISPR and CAS Gene Market are Rescroft Ltd., USSC Group, Inc., Magna International, Inc., Rojac Urethane Limited, GRAMMER AG, TransCal, Freedman Seating Co., Delimajaya Group, Franz Kiel GmbH, iFoam Ltd., Compin-Fainsa, FlexoFoam Pvt. Ltd., FISA Srl, FENIX Group, LLC, and Kustom Seating Unlimited, Inc. Rescroft Ltd., and Magna International, Inc, are leaders in this market and actively launching new products and technologies.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
