by The CRISPR and CAS Gene Market globally is witnessing high demand attributed to increasing applications of gene editing tools in treatment of several genetic disorders and diseases including cancer. With advanced DNA targeting capabilities and genome editing precision, CRISPR and CAS technologies offer promise for correction of DNA mutations at molecular level. Development and advancements in genome editing tools along with discovery of new gene driven disease pathways and disease causing genetic mutations have boosted adoption of CRIPSR in research and therapeutics development globally.
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, and Others.
Increasing investments in CRISPR based drug development and clinical trials for treatment of genetic disorders and diseases will open up new opportunities for market players. Government funding and support for research on CRISPR-Cas based therapeutics will further fuel the market growth.
Growing presence of CRISPR genome editing technology companies in North America and Europe will drive global expansion of the market. Increasing adoption in Asia Pacific region owing to establishment of genomics research centres will also boost the market in coming years.
Market drivers:
Rising applications of CRISPR And CAS Gene Market in disease treatment is a major market driver. Successful completion of first human trials using CRISPR gene editing therapy for treatment of blindness disease is expected to accelerate the adoption in clinical applications. Growing collaborations between biotech and pharma companies for development of CRISPR based drugs and therapies will augment the market growth over forecast period.
PEST Analysis:
Political: The companies have to adhere to strict government regulations related to genome editing and modified organisms. Regulations may differ across countries and change over time based on new guidelines.
Economic: The CRISPR and CAS gene market is growing owing to increasing R&D investments by biotech companies and growing healthcare spending globally. However, high costs associated with genome editing can restrain market growth.
Social: Genome editing technologies face skepticism from some sections of the society regarding ethical concerns. However, majority support their application in addressing diseases and developing new treatment options.
Technological: CRISPR/Cas9 system has increased the speed and reduced the cost of genome editing. Continued innovations are expected in delivery mechanisms, gene drives, multiplex editing, and increasing precision of edits.
In terms of value concentration, North America accounts for the largest market share currently owing to presence of major players and higher adoption rates of new technologies. However, Asia Pacific region is growing at the fastest pace considering increasing investments in life sciences research, rising healthcare expenditures, and expansion activities of global players in countries like China and India.
Europe is also a major regional market with many ongoing clinical trials for CRISPR therapies. Countries like Germany, UK, and France have advanced research infrastructure and a supportive regulatory environment. However, stringent regulations delay market approvals.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
