by The CRISPR-Cas9 system offers great promise for developing cures for genetic diseases. By selectively editing genes, it allows permanent and heritable changes to DNA. This gene editing approach is being investigated and tested as treatments for blood disorders like sickle cell disease and thalassemia, vision loss disorders, and certain types of cancer. For example, CRISPR Therapeutics and Vertex Pharmaceuticals are collaborating to develop CTX001, an investigational CRISPR/Cas9 gene-editing therapy for the treatment of beta thalassemia and sickle cell disease.
The global Crispr Genomic Cure Market is estimated to be valued at US$ 2.12 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growing demand for gene therapy and the ability of CRISPR-Cas9 to selectively edit genes with precision are driving the growth of the Crispr Genomic Cure Market. CRISPR-Cas9 gene editing can permanently modify genes and has the potential to cure genetic diseases at the DNA level. With further research and development, this technology is expected to revolutionize medicine by treating a wide range of inherited and acquired conditions. Another driver is the increasing research funding for advancing CRISPR applications. Major organizations like the National Institutes of Health, universities, charitable foundations and private companies are investing heavily to accelerate development of CRISPR techniques and its therapeutic applications. This growing investment in CRISPR research is fueling developments in genomic cures and supporting market growth.
Segment Analysis
The global Crispr Genomic Cure Market is segmented into therapy type, application, end user and geography. Based on therapy type, the market is divided into genome editing, genetic engineering, gene therapy and others. Among them, genome editing segment holds the largest market share owing to the increasing adoption of crispr in genome engineering for developing cures and treatments. By application, the market is bifurcated into oncology, infectious diseases, genetic disorders and others. Oncology segment dominates the market due to increasing cancer incidence globally. In terms of end user, the market is categorized into biotechnology companies, pharmaceutical companies, contract research organizations and academic and government research institutes. Biotechnology companies are the major revenue generators due to their active involvement in developing cures and therapies using crispr technology.
PEST Analysis
Political: Stringent regulations for gene therapies coupled with high entry barriers may hamper market growth initially. However, supportive government initiatives for advancing genomic research will positively impact the market.
Economic: Increasing healthcare spending worldwide along with growing genomics research funding will fuel market expansion. However, high costs associated with R&D may restrain small players.
Social: Rising awareness about precision medicine and growing acceptance for genetic disorder treatments will boost adoption. However, ethical issues related to genetic engineering may impede market progress.
Technological: Advancements in crispr technology such as enhanced specificity and efficiency will accelerate research activities. Collaborations for developing off-the-shelf cell therapies offer new opportunities.
Key Takeaways
The Global Crispr Genomic Cure Market Growth is expected to witness high at a CAGR of 11% during the forecast period of 2024 to 2030.
Regional analysis indicates North America holds the highest share currently owing to ongoing clinical research and collaborations for developing therapies. In terms of revenue, the North America market stands at US$ 780 Mn in 2024.
Key players operating in the Crispr Genomic Cure Market are Marriott International, Hilton Worldwide Holdings Inc., InterContinental Hotels Group PLC, and Four Seasons Hotels and Resorts. Marriott International dominate the market with its strong global presence and broad brand portfolio for genomic-based cures and precision medicine
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
