CRISPR AND CAS GENE MARKET ANALYSIS

The global crispr and cas gene market is estimated to be valued at US$ 1.54 Billion in 2023 and is expected to exhibit a CAGR of 22.8 %  during the forecast period (2023-2030).

Analysts’ Views on the Global Crispr and cas Gene Market:

CRISPR is a technology that allows for gene editing, and as such, it has the potential to revolutionize novel product development.

CRISPR is a method for locating a particular DNA sequence inside a cell. Moreover, CRISPR gene editing, is typically to modify that portion of DNA. The CRISPR system has been modified to perform additional tasks as well, including  turning genes on or off without changing their sequence.

Figure 1. Global Crispr and Cas Gene Market Share (%), By Product Type, 2023

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Global Crispr and Cas Gene Market - Drivers

• Increasing product launches by market players: Increasing product launches by the market players are expected to aid in the market growth over the forecast period. For instance, on June 21, 2021, QIAGEN,  a provider of sample and assay technologies for molecular diagnostics, applied testing, academic, and pharmaceutical research, announced the launch of QIAprep&amp CRISPR Kit and CRISPR Q-Primer Solutions that will help researchers to analyze edited gene material.
• Increasing research and developmet activities by the Market Players: Increasing research and developmental activities by the market players is expected to propel the market growth over the forecast period. For instance, on April 27, 2023, a team of University of Florida researchers developed a promising new CRISPR-powered method for non-invasive blood tests that could help clinicians diagnose cancer at earlier stages. On December 2, 2019, Cyrus Biotechnology, Inc., a biotech company headquartered in Seattle, U.S. and the insititute of MIT and Harvard launched multi-target collaboration to develop optimized crispr gene editing technology.

Figure 2. Global Crispr and Cas Gene Market Share (%), By Region, 2023

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Global Crispr and Cas Gene Market - Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global crispr and cas gene market over the forecast period. North America is estimated to hold 33.5 % of the market share in 2023. Global crispr and cas gene market is expected to witness significant growth in the near future, driven by increasing research and development in the field by the market players. For instance, on March 21, 2022, Merck KGaA, a pharmaceutical company, signed a collaboration and license agreement with an Israeli AgTech company to demonstrate the utility of its proprietary CRISPR genome-editing tools.

Global Crispr and Cas Gene Market - Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, faced problems with the transportation from one place to another.

However, the COVID-19 pandemic had a positive impact on the global crispr and cas gene market, owing to increasing use of crispr technology. For instance, on May 7, 2020, Sherlock Biosciences, an Engineering Biology company, announced that it has received Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) for it’s Sherlock CRISPR SARS-CoV-2 kit for the detection of the virus that causes COVID-19, providing results in approximately one hour.

Global Crispr and Cas Gene Market Segmentation:

The global crispr and cas gene market is segmented into product type, application, end user, and region.

• By product type, the market is segmented into vector-based cas, dna-free cas, and others. Out of which, the vector-based cas is expected to hold a dominant position in the global crispr and cas gene market during the forecast period, and this is attributed to the increasing development of innovative products.
• By application, the market is segmented into genome engineering, disease models, functional genomics, knockdown/activation, and others. Out of which, genome engineering is expected to dominate the market over the forecast period, and this is attributed to increasing product launches.
• By end user, the market is segmented into biotechnology and pharmaceutical companies, academic & government research institutes, and contract research organizations. Out of which,  biotechnology and pharmaceutical companies is expected to dominate the market over the forecast period, and this is attributed to the increasing research and development activities by biotechnology companies.
• Among all the segmentation, the application segment is expected to dominate the market over the forecast period, and this is attributed to increasing product launches.

Global Crispr and Cas Gene Market - Cross Sectional Analysis:

Key players are focusing on inorganics strategies, such as collaborations, for the development of products is expected to drive the market growth over the forecast period. For instance, on August 18, 2023, CrisprBits, a technology company based in India, announced a strategic collaboration with Molbio Diagnostics, a molecular diagnostic company. This collaboration intends to focus on point of care (POC) diagnostics by the introduction of crispr in POC tests.

Global Crispr and Cas Gene Market: Key Developments

• On November 2, 2020, PerkinElmer, a company headquarted in U.S. acquired cell engineering specialist, Horizon Discovery Group for approximately US$ 383 million. Horizon Discovery Group is based in the U.K. about 400 employees worldwide with offices in the U.S. and Japan. They specialize in genetic base editing technologies for living cell models by way of CRISPR reagents, in addition to gene modulation products using RNA interference methods.
• On April 6, 2020, GlaxoSmithKline plc, a pharmaceutical company, and Vir Biotechnology, Inc., a biotechnology company, headquartered in California, U.S. announced a  agreement to enter into a collaboration to research and develop solutions for coronaviruses, including SARS-CoV-2, the virus that causes COVID-19. The companies will leverage GSK’s expertise in functional genomics and combine their capabilities in CRISPR screening and artificial intelligence to find anti-coronavirus compounds that target cellular host genes.

Global Crispr and Cas Gene Market: Key Trends

• Introduction of technologically-advanced products in the market: The market players are focusing on launching technologically advanced products, thus driving the market growth over the forecast period. For instance, on March 2, 2021, Integrated DNA Technologies (IDT), a comprehensive genomics solutions provider, launched rhAmpSeq CRISPR Analysis System, which offers an end-to-end solution for characterizing and quantifying the full array of on- and off-target genome editing.

Global Crispr and Cas Gene Market: Restraint

• Limitations associated with crispr and cas gene: The relatively frequent off-target effects (OTEs), which have been found at a frequency of 50%, are a serious problem for using CRISPR/Cas9 for gene therapy. With increasing research and development gradually the limitation associated with crispr and Cas gene will get resolved.

Global Crispr and Cas Gene Market - Key Players

The major players operating in the global crispr and cas gene market includes Thermo Fisher Scientific Inc., Merck KGaA (Sigma-Aldrich), OriGene Technologies, Inc., New England Biolabs, Cellecta, Inc., Agilent Technologies, Inc., Applied StemCell, Inc., Synthego, Genscript, Mirus Bio LLC, Integrated DNA Technologies, Inc., and Mammoth Biosciences, Inc.