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CRISPR and Cas Gene Market is expected to reach US$ 15.10 billion by 2030

Global CRISPR and Cas gene market is predicted to reach USD 15.10 billion by 2030 from USD 2.78 billion in 2022 | Strategic Outlook and Growth Insights

By The Insight Partners

Instrument Segment Expected to Hold Significant Market Share During 2022–2030 

According to our latest study on "CRISPR and Cas Gene Market Forecast to 2030 – Global Analysis – Product & Service, Application, and End User," the market is expected to reach US$ 15.10 billion by 2030 from US$ 2.78 billion in 2022. The CRISPR and Cas gene market report emphasizes the key factors driving the market and strategic developments by prominent market players. Factors such as the increasing prevalence of cancer and genetic diseases and the growing adoption of CRISPR-based screens with improved genomic targets propel the market growth. However, off-target effects and ethical concerns associated with CRISPR technology impede the market progress.

The CRISPR technology is useful in identifying mutations in many tumors. They recognize modified proteins that are specific to human tumors. The technology can safely be utilized to find their targets for elimination. Therefore, personalized treatments enabled by CRISPR technology for chronic diseases such as cancer drive the CRISPR and Cas gene market growth. In addition, factors such as investments by biotech companies in new treatments; increased genomic research and development; and the rising burden of cancer, bloodborne diseases, and so on are facilitating the expansion of the market. In addition, increasing research funding for genomic studies and efforts made to demonstrate the effectiveness of CRISPR in genomics are expected to bring new CRISPR and Cas gene market trends in the coming years. However, the use of CRISPR in drug development and therapeutic procedures is limited by its possibility of going off target.

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00016686

Companies and academic and research institutes are developing new therapies using genome engineering techniques. Many researchers have received funding to develop and establish genome engineering research. For example, in December 2022, an assistant professor of biomedical engineering and computer science received US$ 1.9 million in awards from the National Institutes of Health for genome sequencing research. The researcher also received US$ 120,000 from Complete Genomics, a company focused on sequencing the human genome. In January 2021, Pfizer Inc. invested US$ 120 million in 4 clinical-stage biotech companies as part of the Pfizer Breakthrough Growth Initiative (PBGI). Through PBGI, Pfizer invested up to US$ 500 million in biotechnology companies, thereby providing them access to Pfizer's scientific expertise, in addition to the financial support, to ensure the continuity of promising clinical development programs that may be of strategic interest to Pfizer. Such investments are expected to propel the CRISPR and Cas gene market growth in the coming years.

CRISPR and Cas Gene Market, by Product & Service:

Based on product & service, the market is segmented into products and services. The products segment accounted for a larger share of the CRISPR and Cas gene market size in 2022. It is anticipated to register a higher CAGR of 23.9% during the forecast period. Numerous cutting-edge technologies such as CRISPR and Cas gene editing kits have been developed to meet the growing demand for genome editing solutions. An upsurge in the share of these kits in the overall market is attributed to the availability of improved single products that can achieve different goals, including simple gene knockouts, reduced off-target cutting, selective genome cleavage, genome engineering, and higher specificity. In July 2022, the British Heart Foundation, a British charity, provided US$ 36 million to an international team to develop innovative gene editing treatments for inherited heart diseases. New gene editing techniques, particularly CRISPR technology, are likely to unveil several opportunities to combat cardiovascular diseases.

CRISPR and Cas Gene Market, by Application:

By application, the market is bifurcated into biomedical and agriculture. The biomedical segment held a larger CRISPR and Cas gene market share in 2022. The same segment is estimated to register a higher CAGR of 23.8% during the forecast period. CRISPR gene editing technologies are increasingly being used in several areas of life sciences. Proficient delivery methods and the introduction of nanocarriers have further improved the effectiveness and specificity of this technology. Various studies have been conducted to explain the use of this method to modify the genome of human somatic cells and pluripotent stem cells. Some companies also offer commercial kits and services to assist researchers through the use of CRISPR gene editing techniques.

Improving agricultural production through innovative breeding technologies has resulted in better access to nutrient-dense foods worldwide. In June 2019, researchers at Cold Spring Harbor Laboratory implemented CRISPR/Cas9 technology for inducing mutations in the flowering suppressor of tomatoes, resulting in rapid flowering and improved compact growth of tomatoes, ultimately, leading to early yield.

CRISPR and Cas Gene Market, by End User:

The market, by end user, is categorized into biotechnology and pharmaceutical companies, academics and government research institutes, and contract research organizations (CROs) and CDMOs. The biotechnology and pharmaceutical companies segment held the largest CRISPR and Cas gene market share in 2022. The same is anticipated to register the highest CAGR of 24.2% during the forecast period. Biotechnology and pharmaceutical companies use CRISPR and Cas gene technologies to quickly identify and validate new therapeutic targets as well as to create better biological models of human diseases in less time. They also use these technologies for gene modification for commercial purposes.

CRISPR and Cas Gene Market, by Geography:

The CRISPR and Cas gene market analysis has been carried out by considering the following regions: North America (US, Canada, and Mexico), Europe (Spain, UK, Germany, France, Italy, and Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America). North America held the largest market share in 2022. The market growth in this region is attributed to the growing biopharmaceutical research and development, as well as the involvement of several pharmaceutical companies in the development of novel therapeutics. Many pharmaceutical and seed companies also invest in growth strategies such as partnerships, acquisitions, and collaborations to propel the pharmaceutical market and achieve better crop yield, respectively, which further fuels the demand for CRISPR technology in these industries. Asia Pacific is expected to witness the fastest CAGR of 24.3% during the forecast period. The market growth in this region is ascribed to increasing government investments to encourage research and development of novel treatments.

Apart from factors driving the market, the CRISPR and Cas gene market report emphasizes prominent growth strategies of companies. CRISPR Therapeutics; Thermo Fisher Scientific; Merck; GenScript; Qiagen; Takara Bio Inc.; Brain Biotech AG; Intellia Therapeutics, Inc.; New England Biolabs; and Editas Medicine, Inc. are among the prominent players operating in the market.

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