by CRISPR and CAS Gene are genome editing technologies used for altering DNA sequences and modifying gene function. It allows researchers to precisly alter specific sequences of nucleotides with DNA at particular locations in the genome which helps in developing new crop strains and treat genetic disorders by repairing defective genes or knocking out genes involved in disease.
The global CRISPR and CAS Gene Market is estimated to be valued at US$ 1.54 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing application of gene editing in disease treatment has propelled growth of CRISPR and CAS Gene Market. CRISPR has emerged as promising technology for treating genetic diseases by correcting mutated genes causing conditions like sickle cell disease, cystic fibrosis etc. Tech companies are exploring its potential for treating aging and various cancers by modulating expression of genes involved. CRISPR is being studied for disease treatment by drug delivery methods like eyedrops, inhalers etc making it less invasive. Its ability to precisely target and modify genes fuels its demand for developing therapeutics across various therapy areas.
SWOT Analysis
Strength: CRISPR and CAS Gene technology enables precise genome editing which can be applied to cure genetic diseases. It is more efficient and inexpensive than other gene therapies.
Weakness: Off-target mutations and uncertainty regarding long term safety are the major limitation of this technology. Regulatory concerns and ethical issues also pose challenges.
Opportunity: High growth opportunities exist for disease modeling, bioprocessing, genetic engineering in agriculture and therapeutics. Increasing R&D investment is further driving the market.
Threats: Competitive pressures from alternative genome editing technologies. Stringent regulatory guidelines and data privacy laws pose threats.
Key Takeaways
The Global CRISPR And CAS Gene Market Size is expected to witness high growth. The market size was valued at US$ 1.54 Bn in 2024 and is forecast to reach US$ 3.34 Bn by 2030, expanding at a CAGR of 5.2% during the forecast period.
Regional analysis comprises Asia Pacific region is expected to grow at the fastest pace during the forecast period. Rapid adoption of gene therapies and increasing investment in healthcare and life sciences are driving the market in countries like China and India. North America currently dominates the market owing to favorable funding environment and ongoing clinical trials of CRISPR based therapies for various diseases in the US.
Key players operating in the CRISPR and CAS Gene include 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. Major players are focusing on strategic collaborations, acquisitions and new product launches to strengthen their market position.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
