February 24, 2024
CRISPR and CAS Gene Market

CRISPR and CAS Gene Market is Estimated to Witness High Growth Owing to Increased R&D Investments in Gene Therapies

The CRISPR and CAS gene editing market is used for modifying genes in living organisms. CRISPR and CAS gene editing enables efficient & precise gene editing by simplifying the process of adding or modifying DNA sequences. By using this technology, gene function can be altered, genetic disorders can be treated, and plants & animals with desired traits can be produced. The technology consists of DNA cutting enzymes and RNA-based components that act like molecular scissors for targeting and removal of unwanted DNA sequences. CRISPR helps cure genetic diseases by precisely modifying genes or introducing a new gene. It aids in improving crops by modifying plant genomes to enhance disease resistance and nutritional content.

The Global CRISPR and CAS Gene Editing 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 editing market are Rescroft Ltd., USSC Group, Inc., Magna International, Inc., Rojac Urethane Limited, GRAMMER AG, TransCal, Freedman Seating Co., Delimajaya Group, Franz Kiel GmbH, iFoam Ltd., Compin-Fainsa, FlexoFoam Pvt. Ltd., FISA Srl, FENIX Group, LLC, and Kustom Seating Unlimited, Inc. and Others.

The key opportunities in the market include increasing R&D investments by companies in developing gene therapies for rare diseases and cancer. Several clinical trials are being conducted to evaluate CRISPR and CAS Gene Market potential for treating hemophilia, sickle cell disease, and cancer.

On the technological advancement front, researchers are working on engineered Cas9 proteins that are more precise and have less off-target effects for safer gene editing. No sequence homology is needed for double stranded breaks using base editing which prevents unwanted mutations. Combination therapies using CRISPR along with other modalities are also being explored.

Market drivers: The major market driver is the rising funding from private as well as government organizations worldwide to support R&D activities in CRISPR technologies. For example, the National Institutes of Health granted over $370 million between 2013-2018 for CRISPR-related research. Many biotech companies are investing heavily in developing CRISPR-based therapies and diagnostic tools. Additionally, increasing prevalence of genetic disorders and growing focus on precision medicine are augmenting the CRISPR and CAS gene editing market growth.

Current challenges in CRISPR and CAS Gene Market:
The major challenges in CRISPR And CAS Gene Market are high costs associated with research and development activities, complexities involved in gene editing through the CRISPR technique and ethical issues related to its applications. Significant investments are required in basic research to understand genome engineering at a deeper level which increases the costs. The CRISPR technique itself is complex and requires specialized infrastructure and trained workforce. There are still unknown factors that can lead to off-target effects raising safety concerns especially in human applications. Regulatory clearances also take significant time delaying commercialization.

SWOT Analysis
Strength: CRISPR is a powerful and versatile tool for genome editing. It can precisely modify DNA sequences and regulate gene function with potential for correcting genetic defects and treating many diseases.
Weakness: Off-target DNA changes and unintentional mutations may still occur limiting safety and precision. Ethical issues in human genome modification need to be addressed.
Opportunity: Numerous applications in medicine, agriculture, biotechnology if key hurdles are overcome. Emerging technologies can complement CRISPR to further advance precision genome editing.
Threats: Stringent regulations, safety concerns and socio-ethical debates can delay commercialization and uptake. Competition from new gene editing approaches.

Geographical regions with market concentration
North America accounts for the largest share of the global CRISPR and CAS gene market, both in terms of value and volume. This is mainly due to heavy investments in research by pharmaceutical and biotechnology companies in the US. The region also has a well-developed regulatory framework supporting product development.

Fastest growing region
Asia Pacific region is projected to grow at the fastest pace during the forecast period. This can be attributed to rising government focus on healthcare biotechnology, growing biomedical industry in China and India and increasing collaborations between global players and regional research institutions. Developing economies are investing aggressively to strengthen their capabilities in genome editing technologies.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it