CRISPR gene editing system has enabled researchers to efficiently edit genes and genome in living organisms and cells. It has applications in genetic disease treatment, drug discovery, agricultural biotechnology and more. In genetic disease treatment, CRISPR helps correct mutations that cause genetic disorders like sickle cell disease, beta-thalassemia, cystic fibrosis and others. Scientists have used CRISPR to edit genomes of animal models and developed disease-resistant lines. With advancement in delivery methods, CRISPR will enable genomic medicine to design personalized treatment plans.
The global Crispr Genomic Cure Market is estimated to be valued at US$ 1.84 Bn in 2023 and is expected to exhibit a CAGR of 11.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Advancement in genome editing technologies: Continuous research in genome editing and efforts to enhance the precision and efficiency of CRISPR is driving the market growth. Development of CRISPR 2.0 technologies like base editing, prime editing and high fidelity Cas9 variants have expanded the scope of genetic therapies. Growing understanding of human genome and genetic basis of diseases is also fueling investments in genomic medicines research.
Rise in genetic disease prevalence: Increasing incidence of monogenic and complex genetic diseases worldwide is another factor augmenting the demand for CRISPR therapeutics. Genetic abnormalities burden healthcare systems and affect quality of life. With aging population and rising life expectancy, prevalence of late-onset genetic disorders is on surge. Novel curative treatment approaches like CRISPR are needed to manage disease burden.
Segment Analysis
The Crispr genomic cure market can be segmented into application and end-user. Based on application, it is dominated by the oncology sub-segment, as genetic causes are well established and Crispr’s ability to alter DNA makes it well-suited for cancer treatment. The oncology sub-segment holds around 35% market share currently.
PEST Analysis
Political: Regulations around genetic modification will impact the market. Most countries currently allow Crispr for research use only. FDA approval is required for clinical use in the US.
Economic: The market is expected to grow at a double digit rate given rising healthcare spending and focus on precision medicines to treat diseases.
Social: Public acceptance of genetic therapies is increasing with improved understanding although some ethical concerns around gene editing remain.
Technological: Advancements in Crispr delivery systems and ability to accurately target and modify genes will further expand applications and drive growth in the forecast period.
Key Takeaways
The global Crispr genomic cure market share is expected to witness high growth in the forecast period driven by a growing application pipeline and increasing funding in this area.
Regionally, North America currently dominates led by large biotech presence and approvals but Asia Pacific is emerging as the fastest growing market with China and India leading translational research.
Key players
operating in the Crispr genomic cure market are Marriott International, Hilton Worldwide Holdings Inc., InterContinental Hotels Group PLC, and Four Seasons Hotels and Resorts. Crispr has the potential to cure genetic diseases and with technology refinement, more indications could be targeted commercializing cures.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
