Global CRISPR and CAS Gene Market Is Estimated To Witness High Growth
The CRISPR and CAS gene market is estimated to be valued at US$ 830.7 Mn in 2020 and is expected to exhibit a CAGR of 22.8% over the forecast period 2020-2027, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The CRISPR and CAS gene market involves the use of gene editing techniques for targeted genome modification. This technology has transformed the field of life sciences, enabling researchers to study gene function, develop therapies for genetic disorders, and improve agricultural yields. The market encompasses various products and services such as vectors, libraries, enzymes, and software tools used for CRISPR-based gene editing. These products find applications in pharmaceutical and biotechnology companies, academic institutions, and research laboratories for a range of purposes including drug discovery, disease modeling, and personalized medicine.
Market Dynamics:
The CRISPR and CAS gene market is driven by two primary factors. Firstly, there is an increasing demand for gene editing techniques due to their potential in treating genetic disorders and developing targeted therapies. The ability to modify genes opens up new possibilities for precision medicine, offering hope for patients with previously untreatable conditions. Secondly, there has been a growing investment in genomic research, further driving the market. Governments, academic institutions, and private companies are investing heavily in genomic research to unlock the potential of gene editing technologies and uncover new drug targets. These drivers are expected to fuel the growth of the CRISPR and CAS gene market over the forecast period.
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