The CRISPR genomic cure market is estimated to be valued at US$ 1.84 billion in 2022 and is expected to exhibit a CAGR of 34.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
CRISPR genomic cures utilize CRISPR-Cas9 genome editing to precisely correct mutations at the DNA level and treat a wide range of genetic diseases. This innovative approach holds promise for accurately treating conditions like sickle cell anemia, cystic fibrosis and certain cancers by altering disease-causing genes.
Market Dynamics:
Increasing investment in genome editing research and growing success of preclinical and clinical gene therapy trials are expected to fuel the rapid adoption of CRISPR genomic cures over the forecast period. In addition, advancing CRISPR technology allowing for more efficient gene delivery mechanisms and targeting multiple genes simultaneously will further expand the market potential. Moreover, rising disease awareness, improving diagnostic facilities and growing demand for personalized medicine are supporting lucrative opportunities for CRISPR genomic cure manufacturers and service providers.
Market key trends:
The CRISPR genomic cure market is witnessing increasing demand from pharmaceutical companies for development of disease-specific therapies. The genome editing capabilities of CRISPR-Cas9 system allow precise modification of genes which is leading to development of curative treatments for various genetic disorders like sickle cell disease, beta-thalassemia, cystic fibrosis etc. Furthermore, ongoing advancement in CRISPR delivery methods like viral and non-viral vectors is improving targeting efficiency of gene editing therapies in vivo.
SWOT Analysis
Strength: CRISPR provides high precision and efficiency for genome editing. It is more affordable and flexible compared to other gene editing tools.
Weakness: Off-target effects and unwanted DNA mutations still remain a challenge with CRISPR technology. Concerns regarding ethics and regulations also exist.
Opportunity: Wide range of genetic diseases potentially curable with CRISPR offers huge market opportunity. Further development of in vivo delivery methods will enhance clinical applications.
Threats: Stringent regulatory norms may delay clinical approvals. Competition from other novel gene therapies can impact market share.
Key Takeaways
The global CRISPR Genomic Cure Market is expected to witness high growth, exhibiting CAGR of 34.7% over the forecast period, due to increasing success of CRISPR clinical trials. The United States dominated the market in 2023, with a share of over 35%, owing to presence of major market players and availability of research funding.
Regional analysis: North America is expected to maintain its lead, growing at a CAGR of 33.2% during forecast period driven by ongoing clinical research. Asia Pacific is projected to be the fastest growing region expanding at 37.6% CAGR majorly due to rising healthcare spending in China and India.
Key players: Key players operating in the CRISPR genomic cure market are CRISPR Therapeutics AG, Editas Medicine, Inc., Intellia Therapeutics, Inc., Sangamo Therapeutics, Inc., Beam Therapeutics Inc., Caribou Biosciences, Inc., Mammoth Biosciences, Precision Biosciences, Inc., Synthego Corporation, GenScript Biotech Corporation, Horizon Discovery Group plc, Lonza Group Ltd., Takara Bio Inc., Merck KGaA, Thermo Fisher Scientific Inc. CRISPR Therapeutics along with partners is conducting several late stage clinical trials evaluating application of CRISPR in treating beta-thalassemia and sickle cell disease.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
