Global Crispr and Cas Gene Market, By Product Type (Vector-based Cas, DNA-free Cas, and Others), By Application (Genome Engineering, Disease Models, Functional Genomics, Knockdown/Activation, and Others), By End User (Biotechnology and Pharmaceutical Companies, Academic & Government Research Institutes, and Contract Research Organizations), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
The key market players are focusing on adopting growth strategies, such as the launch of new products, which will drive the global crispr and cas gene market growth. 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& CRISPR Kit and CRISPR Q-Primer Solutions that allow researchers to analyze edited genetic material with unparalleled speed and efficiency to determine how their interventions have changed the function of the DNA sequence in question.
Global Crispr and Cas Gene Market - Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. The virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation from one place to another.
The COVID-19 pandemic is expected to drive the growth of the global CRISPR and CAS gene market over the forecast period. As the number of COVID-19 cases have increased, the demand for efficient diagnostic tools have also increased and this motivated the players operating in the CRISPR and CAS gene market to develop diagnostic technologies for COVID-19 detection. Moreover, regulatory authorities granted emergency use authorizations to the diagnostic products developed by market players in order to combat the COVID-19 pandemic. The increased product approvals helped market players in expanding their product offerings, thereby helping market players strengthen their presence in the CRISPR and CAS gene market. For instance, on September 19, 2020, the Tata Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) test, powered by CSIR-IGIB (Institute of Genomics and Integrative Biology) FELUDA, received regulatory approvals from the Drug Controller General of India (DCGI) for commercial launch, as per Indian Council of Medical Research (ICMR) guidelines, meeting high quality benchmarks with 96% sensitivity and 98% specificity for detecting the novel coronavirus.
Global Crispr and Cas Gene Market: Key Developments
On September 27, 2022, Sanofi, a pharmaceutical company and Scribe Therapeutics, a biotechnology company, partnered to develop CRISPR-based cell therapies to fight cancer.
On January 7, 2020, ERS Genomics Limited, a biotechnology company, announced that it has signed an agreement with New England Biolabs (NEB), a company that focuses on the discovery and production of enzymes for molecular biology applications, granting National Enforcement Bodies (NEB) rights to sell CRISPR/Cas9 tools and reagents.
Browse 36 Market Data Tables and 26 Figures spread through 180 Pages and in-depth TOC on “Global Crispr And Cas Gene Market”- Forecast to 2030, Global Crispr And Cas Gene Market, By Product Type (Vector-based Cas, DNA-free Cas, and Others), By Application (Genome Engineering, Disease Models, Functional Genomics, Knockdown/Activation, and Others), By End User (Biotechnology and Pharmaceutical Companies, Academic & Government Research Institutes, and Contract Research Organizations), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/crispr-and-cas-gene-market-2598
Key Takeaways of the Global Crispr and Cas Gene Market:
- The global crispr and cas gene market is expected to exhibit a CAGR of 22.80% during the forecast period.
- Among application, the genome engineering segment 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 research and development activities for the development of innovative products. For instance, on March 30, 2021, scientists at UC San Fransico, UC Berkeley and UCLA received the U.S. Food and Drug Administration (FDA) approval to jointly launch an early phase, first-in-human clinical trial of a CRISPR gene correction therapy in patients with sickle cell disease using the patient’s own blood-forming stem cells.
- Among region, North America is expected to be the dominant region in the global crispr and cas gene market, owing to the key players focusing on organic strategies. For instance, on July 12, 2022, results from CRISPR Therapeutics and Vertex Pharmaceuticals’ ongoing trials of exa-cel, a one-time treatment targeting genetic blood disorders known as transfusion-dependent beta-thalassemia (TDT) and Sickle Cell Disease (SCD), have consistently demonstrated 100% efficacy throughout the course of three years and 75 patients.
- The major players operating in the global crispr and cas gene market are 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.
