PUBLISHER: Acute Market Reports | PRODUCT CODE: 1283944
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1283944
CRISPR and Cas genes have become one of the most promising tools in the field of genetic engineering, revolutionizing the way we approach gene editing and genetic manipulation. The CRISPR/Cas system is a naturally occurring mechanism in bacteria that allows them to defend themselves against invading viruses. This system can be adapted to target and modify specific genes, making it a powerful tool in research and medicine. The global CRISPR and Cas genes market is expected to grow significantly in the coming years, with a CAGR of 18.5% during the forecast period of 2023 to 2031. This growth is driven by the increasing demand for gene editing technologies in various applications such as agriculture, pharmaceuticals, and biotechnology. The pharmaceutical and biotechnology industries are the major contributors to the growth of the CRISPR and Cas genes market. The technology is being used in drug discovery and development, with the potential to treat a wide range of genetic disorders. The agriculture industry is also adopting this technology to improve crop yields and develop disease-resistant crops.
The pharmaceutical industry is a major driver of the CRISPR and Cas genes market. The technology is being used in drug discovery and development, with the potential to treat a wide range of genetic disorders. The global gene editing market is expected to reach $9.5 billion by 2025, with the CRISPR/Cas system being the most widely used gene editing technology. Several companies are investing heavily in the development of CRISPR-based therapies, including CRISPR Therapeutics AG, Intellia Therapeutics, and Editas Medicine, among others.
The agriculture industry is also driving the growth of the CRISPR and Cas genes market. The technology is being used to improve crop yields and develop disease-resistant crops. The global agricultural biotechnology market is expected to cross $55 billion by 2025, with the CRISPR/Cas system being one of the key technologies driving this growth. Companies such as Bayer AG, DuPont Pioneer, and DowDuPont are investing heavily in the development of CRISPR-edited crops.
The rising prevalence of genetic disorders is driving the demand for gene editing technologies such as CRISPR and Cas genes. According to the World Health Organization, genetic disorders affect millions of people worldwide, with an estimated 1 in 20 live births being affected by a genetic disorder. The CRISPR/Cas system has the potential to treat a wide range of genetic disorders, including sickle cell anemia, cystic fibrosis, and Huntington's disease, among others. Several clinical trials are underway to test the safety and efficacy of CRISPR-based therapies for genetic disorders, which could further drive the growth of the CRISPR and Cas genes market.
One of the major restraints of the CRISPR and Cas genes market is the potential for off-target effects, which can result in unintended and potentially harmful changes to the genome. While the CRISPR/Cas system is highly precise, it is not perfect, and there is still a risk of off-target effects. This has led to concerns about the safety and ethical implications of using this technology for gene editing. In addition, there are also concerns about the potential misuse of this technology for non-medical purposes, such as enhancing human traits. These concerns could lead to increased regulatory scrutiny and slower adoption of the technology, which could restrain the growth of the CRISPR and Cas genes market.
The CRISPR and Cas genes market is expected to witness significant growth in both the biomedical and agriculture segments. In terms of revenue, the biomedical segment is expected to dominate the market due to the high demand for gene editing technologies in drug discovery and development. The biomedical segment accounted for the largest share of the CRISPR and Cas genes market in 2022, the segment is also expected to dominate the market during the forecast period of 2023 to 2031. On the other hand, the agriculture segment is expected to witness the highest CAGR during the forecast period, driven by the increasing demand for disease-resistant and high-yielding crops. The CRISPR/Cas system is being used to develop crops with desirable traits, such as increased yield, drought resistance, and disease resistance. Several companies, including Bayer AG and DowDuPont, are investing heavily in the development of CRISPR-edited crops, which could further drive the growth of the agriculture segment.
The CRISPR and Cas genes market is also segmented by end-use, including biotechnology and pharmaceutical companies, academics and government research institutes, and contract research organizations (CROs). Biotechnology and pharmaceutical companies are expected to dominate the market in terms of revenue, owing to the high demand for gene editing technologies in drug discovery and development. The biotechnology and pharmaceutical companies segment accounted for the largest share of the CRISPR and Cas genes market in 2022. However, the highest CAGR during the forecast period of 2023 to 2031 is expected in the contract research organizations (CROs) segment, driven by the increasing outsourcing of preclinical and clinical research activities by biotechnology and pharmaceutical companies. CROs provide a wide range of services, including drug discovery and development, clinical trials, and regulatory services, among others. The use of CRISPR and Cas genes in preclinical and clinical research activities is expected to increase, which could further drive the growth of the CROs segment.
North America accounted for the largest share of the market in 2022, owing to the presence of several key players in the region and the high adoption rate of gene editing technologies in the biotechnology and pharmaceutical industries. However, the highest CAGR is expected in the Asia-Pacific region, driven by the increasing investments in biotechnology research and the growing prevalence of genetic disorders in the region. The region is also home to several emerging biotechnology and pharmaceutical companies, which could further drive the growth of the market. Europe is also expected to contribute significantly to the growth of the CRISPR and Cas genes market, owing to the increasing government funding for genome editing research and the growing demand for genetically modified crops in the region.
The CRISPR and Cas genes market is highly competitive, with several key players operating in the market. Some of the top players in the market include Thermo Fisher Scientific, Inc., Editas Medicine, Inc., CRISPR Therapeutics AG, Intellia Therapeutics, Inc., and Caribou Biosciences, Inc., among others. These players are focusing on strategic collaborations, partnerships, and mergers and acquisitions to expand their market presence and strengthen their product portfolios. For instance, in 2020, Thermo Fisher Scientific acquired QIAGEN N.V., a leading provider of molecular diagnostics and sample preparation technologies, to expand its life sciences offerings. In addition, Editas Medicine has entered into several collaborations with key players in the biotechnology and pharmaceutical industries to advance its CRISPR gene editing technology. Furthermore, several key players are investing in research and development activities to develop new and innovative gene editing technologies. For instance, CRISPR Therapeutics is developing a portfolio of CRISPR-based therapies for a wide range of genetic disorders, while Intellia Therapeutics is developing a proprietary platform for the in vivo delivery of CRISPR-Cas9 gene editing technology. Moreover, companies are also focusing on obtaining regulatory approvals for their gene editing technologies. For instance, in 2019, CRISPR Therapeutics and Vertex Pharmaceuticals received FDA approval for their gene therapy, which uses CRISPR-Cas9 technology to treat sickle cell disease.
This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2031.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of CRISPR And Cas Genes market are as follows:
Micro and macro environment factors that are currently influencing the CRISPR And Cas Genes market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.