Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
CRISPR and CAS Gene Market – Insights
CRISPR technology is a simple yet powerful nucleic acid-targeting editing tools for genome. It allows researchers to easily alter DNA sequences and modify gene function. It has many potential applications, which include correcting genetic defects, treating and preventing the spread of diseases, and improving crops. It is faster, cheaper, and more accurate than previous techniques of editing DNA like ZFNs (Zinc Finger Nucleases) and TALENs (Transcription Activator-Like Effector Nucleases). And has a wide range of potential applications. Researchers are focusing on its use in animal models or isolated human cells, with the aim to eventually use the technology for routinely treating diseases in humans.
The global CRISPR and CAS Gene market size was valued at US$ 1,388.1 million in 2017, and is expected to witness a CAGR of 20.8% over the forecast period (2018 – 2026).
Global CRISPR and CAS Gene Market Share (%) Analysis, By Product Type, 2017
Source: Coherent Market Insights Analysis (2019)
Increasing Demand for Clinical Trials Coupled with Increasing Research & Development in CRISPR and CAS Gene therapy is expected to Drive Growth of the CRISPR and CAS Gene Market
Increasing research & development and demand for clinical trials for development of new technologies in CRISPR and CAS gene therapy for treatment of cancer is one of the major driving factor. For instance, The Parker Institute for Cancer Immunotherapy, a non-profit organization formed in April 2016, with a US$ 250 million grant from the Parker Foundation, agreed to sponsor the first in-human clinical trials of CRISPR-enabled technology targeting three types of cancer. The trial, led by the University of Pennsylvania, will use CRISPR-modified T-cells, a part of the human immune system, to treat myeloma, melanoma, and sarcoma. The trial was commenced in 2017.
Therefore, increasing research on CRISPR and CAS gene market is expected to create a favorable environment for CRISPR and CAS gene market growth in the near future.
CRISPR and CAS Gene Market – Restraints
The major restraining factor for the CRISPR and CAS gene market growth are the ethical and safety issues about the CRISPR and CAS gene therapy for gene editing and creating genetically modified (GM) food or organism. In 2015, the US Food and Drug Administration (FDA) prohibited funding bills considering application of CRISPR and CAS gene technology to create IVF children from embryos that have been genetically modified.
CRISPR and CAS Gene Market - Regional Insights
On the basis of region, the global CRISPR and CAS Gene market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold a dominant position in the global CRISPR and CAS Gene market, owing to increasing number of the Food and Drug Administration (FDA) approval for clinical trial. For instance, in October 2018, CRISPR Therapeutics and Vertex Pharmaceuticals' highly anticipated gene-editing trial, which was allowed for the first time to discover, develop, and commercialize new breakthrough therapeutics to cure blood disorders and congenital heart disease using the CRISPR/Cas9 technology in the U.S. In January 2019, CRISPR Therapeutics and Vertex Pharmaceuticals’ have been granted Fast Track Designation to CTX001 for the treatment of sickle cell disease (SCD) by FDA. CTX001 is an investigational, autologous, gene-edited hematopoietic stem cell therapy for patients suffering from severe hemoglobinopathies.
Asia Pacific is expected to foresee a rapid growth in the CRISPR and CAS Gene market over the forecast period. The market in Asia Pacific is expected to gain momentum during the forecast period, owing to rise in the demand of CRISPR and CAS gene therapy especially in research activities. For instance, in May 2018 researchers at Kobe University in Japan successfully destroyed and deleted the regulatory genes of HIV-1 using the genome editing system CRISPR/Cas9, thereby successfully blocking the production of HIV-1 by infected cells.
Global CRISPR and CAS Gene Market Value (US$ Mn) & Y-o-Y Growth (%), 2016-2026
Source: Coherent Market Insights Analysis (2019)
CRISPR and CAS Gene Market - Competitive Landscape
Key players operating in the global CRISPR and CAS Gene market include Caribou Biosciences Inc., CRISPR Therapeutics, Mirus Bio LLC, Editas Medicine, Takara Bio Inc., Synthego, Thermo Fisher Scientific, Inc., GenScript, Addgene, Merck KGaA (Sigma-Aldrich), Integrated DNA Technologies, Inc., Transposagen Biopharmaceuticals, Inc., OriGene Technologies, Inc., New England Biolabs, Dharmacon, Cellecta, Inc., Agilent Technologies, and Applied StemCell, Inc.