The CRISPR & Cas genes market size is expected to hit US$ 4.23 billion by 2027 and is growing at a CAGR of around 16.1% from 2021 to 2027, according to report study by Precedence Research.
The CRISPR & Cas genes market size is expected to hit US$ 4.23 billion by 2027 and is growing at a CAGR of around 16.1% from 2021 to 2027, according to report study by Precedence Research.
The technological advancements in the field of the genome editing have significantly augmented the adoption of the CRISPR & Cas genes systems in the diagnosis. The CRISPR & Cas technology is extensively used to analyze and understand the evolution of bacteria. The favorable government support and increased investments towards the research and development has significantly supported the growth of the global CRISPR & Cas genes market. Furthermore, the introduction of the Cas-9 technique is considered to be a revolutionary step in the biomedical research field. The CRISPR/Cas-9 technique focuses on genome editing and facilitates the treatment of various genetic diseases. Moreover, the regulatory authorities played a significant role in the approval activities. For instance, US FDA, in March 2021, approved a clinical trial for a gene therapy based on the CRISPR technology. It was developed for treating the defected genes that results in sickle cell disease. The rising investments by the market players towards the discovery of the potential application of the CRISPR &Cas genes systems is expected to positively impact the market growth in the foreseeable future.
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Report Highlights:
- Based on the application, the biomedical segment accounted for over 90% of the market share and dominated the global CRISPR & Cas genes market in 2019. The rising adoption and implementation of the CRISPR gene technique in the several areas of the biomedical science is the major contributor to the growth of this segment. The introduction of the enhanced delivery systems and deployment of nano-carriers has resulted in the increased efficiency of the CRISPR & Cas technology in the biomedical research.
- Based on the product, the product segment dominated the market, garnering a market share of over 75% in 2019. The development of new and innovative CRISPR gene editing tools and kits that facilitates gene modification experiments has fueled the demand for the product segment across the global CRISPR & Cas genes market. Furthermore, the availability of enhanced specific products that serves numerous objectives such as gene knockouts, genome engineering, and genome cleavage has supported the growth of the product segment across the globe.
- Based on the end user, the biotechnology and pharmaceutical companies segment dominated the global CRISPR & Cas genes market in 2019. This is attributed to the increased adoption of the CRISPR & Cas technologies in the development of enhanced biological models for the human diseases and boost identification and validation of the latest therapeutic targets by the pharmaceutical companies. The high investments in the research activities by the biotechnology companies is expected to further drive the growth of the market in the forthcoming future.
- North America was the leading CRISPR & Cas genes market in 2019. The presence of numerous top pharmaceutical and biotechnology companies in the region coupled with the huge investments by them in the research and development activities for the development of novel therapies by implementing genome editing technologies has resulted in the dominance of this region. The growing investments in the development of gene therapies and its surging demand in North America is expected to sustain the dominance of the region throughout the forecast period.
- Asia Pacific is estimated to be the fastest-growing market during the forecast period. The rising popularity of the CRISPR & Cas genes technology in the markets like China, Japan, and South Korea. The rising number of clinical trials and growing research activities pertaining to the gene editing kits and tools is expected to drive the growth of the Asia Pacific CRISPR &Cas genes market.
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Future of CRISPR & Cas Genes Market
The rapidly growing biotechnology i9ndustry and the constant engagement in the research and development activities to formulate new and innovative medicines and diagnosis methods using the genome based technique are expected to spur the growth of the global CRISPR &Cas genes market in the forthcoming future.
COVID-19 Impact Analysis:
- The outbreak of the COVID-19 pandemic resulted in a burgeoning demand for the CRISPR &Cas genes technology, owing to the ongoing research on the potential of application of the CRISPR Cas-9 technology in the diagnosis of CIVID-19 accurately.
- The pandemic is expected to eliminate the barriers pertaining to the commercialization of the CRISPR &Cas technologies across the globe.
Key Developments in the Marketplace:
- In April 2021, Vertex Pharmaceuticals and CRISPR Therapeutics amended their agreement for the development of CTX001, a CRISPR & Cas-9 gene editing therapy.
Market Segmentation
By Product & Service
- By Service
- Microbial Gene Editing
- Cell Line Engineering
- gRNA Design
- DNA Synthesis
- By Product
- Design Tool
- Kits & Enzymes
- Libraries
- Antibodies
- Others
By Application
- Agricultural
- Biomedical
- Functional Genomics
- Genome Engineering
- Disease Model Studies
- Epigenetics
- Others
- End-use Outlook
- Contract Research Organizations (CROs),
- Academics & Government Research Institutes
- Biotechnology & Pharmaceutical Companies
By Regional Outlook
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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