by The CRISPR-Cas9 tool has revolutionized genetic editing research and enabled rapid advances in developing targeted gene therapies for various incurable genetic disorders. Known as the next-generation sequencing, CRISPR technology provides an inexpensive and highly efficient approach to precisely modify DNA in living organisms at the genomic level. This groundbreaking tool is enabling researchers to develop CRISPR genomic cures for a wide range of conditions like sickle cell disease, cystic fibrosis, Huntington’s disease, and some forms of cancer by repairing the DNA mutations responsible for causing these diseases. The CRISPR gene therapy approach involves isolating cells from patients, editing the desired genes using CRISPR-Cas9 gene editing tool in the lab, and infusing the genetically modified cells back into patients. This allows modulating or repairing the DNA mutations directly at the root cause, offering hope for developing once-thought incurable diseases.
The global Crispr Genomic Cure Market is estimated to be valued at US$ 1.84 Bn in 2023 and is expected to exhibit a CAGR of 34% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the CRISPR genomic cure market is the growing acceptance and influx of funding to support ongoing clinical research. Several pharmaceutical giants are actively sponsoring clinical trials to evaluate the safety and efficacy of various CRISPR therapies. For instance, CRISPR Therapeutics and Vertex Pharmaceuticals are evaluating the efficacy of ex-vivo edited cell therapy CTX001 in treating transfusion-dependent beta-thalassemia and severe sickle cell disease in collaboration. Similarly, Intellia Therapeutics is developing in-vivo liver gene therapies NTLA-2001 for transthyretin amyloidosis and NTLA-2002 for hereditary angioedema. The promising clinical data and successful approvals could transform the market landscape in the forthcoming years. Furthermore, strategic collaborations between biotechs and research institutes are also surging to expedite the development and commercialization of the new wave of genomic medicines to address various unmet medical needs.
Porter’s Analysis
Threat of new entrants: The CRISPR genomic cure market requires significant investment in R&D which acts as a barrier for new players. Established players have accumulated expertise and resources making the threat low.
Bargaining power of buyers: Individual customers have low bargaining power due to lack specialized knowledge. However, larger pharmaceutical companies enjoy moderate bargaining power due high volume purchases.
Bargaining power of suppliers: Key IP holders like CRISPR Therapeutics and Editas Medicine have significant bargaining power due to proprietary technology. Other suppliers have moderate-low power.
Threat of new substitutes: No close substitutes currently exist for CRISPR applications in genomic medicine. Potential for gene therapy and other precision approaches remains a medium threat.
Competitive rivalry: Market populated by few specialized players pursuing similar goals. Significant R&D expenditures, clinical trial requirements and patent battles have led to moderate-high competitive rivalry.
Key Takeaways
The Global CRISPR Genomic Cure Market Size is expected to witness high growth over the forecast period supported by increasing funding and applications.
Regional analysis: North America currently dominates the market supported by presence of global industry leaders and strong research ecosystem. Asia Pacific is expected to emerge as the fastest growing region due to government funded initiatives and expanding biotech industry.
Key players: Key players operating in the CRISPR genomic cure market are CRISPR Therapeutics AG, Editas Medicine, Inc., Intellia Therapeutics, Inc., Sangamo Therapeutics, Inc., Beam Therapeutics Inc., Caribou Biosciences, Inc., Mammoth Biosciences, Precision Biosciences, Inc., Synthego Corporation, GenScript Biotech Corporation, Horizon Discovery Group plc, Lonza Group Ltd., Takara Bio Inc., Merck KGaA, Thermo Fisher Scientific Inc. CRISPR Therapeutics and Editas Medicine are currently the leaders based on clinical pipeline and partnerships.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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