PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1378556
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1378556
The global crispr and cas gene market 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).
Report Coverage | Report Details | ||
---|---|---|---|
Base Year: | 2022 | Market Size in 2023: | US$ 1.54 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 22.80% | 2030 Value Projection: | US$ 6.47 Bn |
Clustered Regularly Interspaced Short Palindromic Repeats is known as CRISPR. It is a DNA-chopping element of bacterial immune systems that has been transformed into a gene editing tool. By following a configurable guide, it functions as a precise pair of molecular scissors that can cut a target DNA sequence.
A guide RNA sequence (gRNA), which leads the Cas nuclease to its target, and a CRISPR-associated (Cas) nuclease, which binds and breaks DNA, are the two essential components of the system. It was found in bacterial immune systems, where it destroys bacteriophage-invading viruses-by chopping off their DNA. It was swiftly created as a tool for editing genomes after the molecular basis for its DNA-cleaving ability was identified.
CRISPR is significant because it enables researchers to change practically any organism's genetic coding. In comparison to earlier gene editing methods, it is easier, less expensive, and more accurate. It also has a variety of practical applications, including as developing crops that can withstand drought and correcting genetic diseases.
In bacteria and archaea, adaptive immunity is based on the CRISPR system. It makes use of Cas nucleases, enzymes that can attach to DNA and cause double-stranded breaks (DSBs). A protospacer, a segment of viral DNA, gets cut off by the Cas nuclease when a virus infects a bacteria. This fragment, along with others from earlier infected viruses, is kept in the bacterial genome as an immunological memory. The arrangement of spacers and palindromic repeats that results in the placement of these viral spacer pieces between repetitive sequences is what gives CRISPR its name.
The key players in the crispr and cas gene market are focusing on the development of innovative products is expected to propel the market growth over the forecast period. For instance, on February 8, 2023, Vertex Therapeutics, a biotechnology company, submitted its first CRISPR-based gene editing therapy to the U.S. Food and Drug Administration (FDA).
Global Crispr and Cas Gene Market Detailed Segmentation: