CRISPR and CAS Gene Market Amid Growing Research and Development...

CRISPR and CAS Gene Market Amid Growing Research and Development Will Exhibit Substantial Growth

Posted 2024-02-08 10:26:26

Market Overview
The CRISPR and CAS gene technology is a revolutionary genome editing tool that allows scientists to easily alter DNA sequences and modify gene function. It helps in modifying genes and treating genetic disorders. The technology utilizes a DNA cutting enzyme, often a bacterial protein called Cas9, together with short RNA sequences to target and cut specific areas of the genome. This allows desirable gene alterations to be made or genes to be removed precisely and entirely from the human genome.

The global CRISPR and CAS gene market is estimated to be valued at US$ 1.78 Bn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period from 2024 to 2030.

Key Takeaways
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. and Others. Rising prevalence of genetic disorders and growing research funding for genetic engineering technologies are driving the demand for CRISPR and CAS gene editing solutions. Advancements in CRISPR delivery methods and therapeutics development have improved the efficiency and precision of genome editing.

Market Trends
Growing application of CRISPR in treating various diseases: CRISPR And CAS Gene Market technology is being widely researched for treating several genetic disorders such as muscular dystrophy, sickle cell disease, cystic fibrosis, and various types of cancer. Several clinical trials are ongoing to evaluate the safety and efficacy of CRISPR gene therapies.

Increasing focus on CRISPR plant research: CRISPR is also being extensively studied for developing improved crop varieties with higher yields, enhanced nutrition, and resistance to pests and diseases. This includes modifying traits in wheat, rice, banana, and soybean. Agricultural advances through CRISPR will help boost global food security.

Market Opportunities
Therapeutic genome editing CRISPR startups: Significant funding and partnerships between research institutes and biotech companies are driving the fast translation of CRISPR research into new therapies. This has spurred growth of several CRISPR-focused biotech startups.

Application of base editing & prime editing: Newer genome editing tools like base editing and prime editing that introduce programmed changes in DNA without making double-stranded breaks are expanding the potential of precision genome editing. This presents lucrative opportunities.

Impact of COVID-19 on CRISPR and CAS Gene Market Growth

The COVID-19 pandemic negatively impacted the growth of the CRISPR and CAS gene market during 2020 and 2021. Due to lockdowns enforced worldwide, laboratories and research facilities had to shut down, slowing down research activities. Supply chain disruptions led to delays and shortages of essential reagents and kits required for genome editing processes. Social distancing norms and diversion of resources towards treatment of COVID-19 patients reduced funding available for research. However, the pandemic also highlighted the need for development of new and effective diagnostic tools and vaccines. This has accelerated research efforts on using CRISPR gene-editing technology for developing virus resistant crops and rapid detection techniques for current and future pandemics. With resumption of normal activities post lifting of lockdowns, the market is expected to bounce back strongly driven by increased R&D investment in life sciences. The long term outlook remains positive due to expanding applications of CRISPR in drug development, precision medicine and plant biotechnology.

The North American region currently accounts for the largest share of the global CRISPR and CAS gene market in terms of value. This is attributed to presence of major market players, increasing research funding and rising adoption of gene editing tools in drug development and agricultural biotechnology sectors within the US and Canada. The Asia Pacific region is poised to be the fastest growing market during the forecast period supported by rising biotech industry, growing genomics research in China, South Korea and India along with improving healthcare infrastructure and investment. Countries like Japan, Australia and Singapore are also emerging as hubs for CRISPR research and commercialization of genome engineering based innovations.

In terms of geographical concentration of market value, Europe stands second after North America region currently. This is due to strong government support for life science R&D within countries like United Kingdom, Germany, France and Italy. Large patient pool, sophisticated research ecosystem and presence of leading pharmaceutical and biotech companies have strengthened Europe's position as a major regional market. However, it is expected that Asia Pacific region will surpass Europe in terms of market size for CRISPR and CAS gene technology by 2028 supported by advancements in genomics within China and India along with robust economic growth projected across Asian countries.