by The CRISPR genomic cure market is estimated to be valued at US$ 1.84 Bn in 2023 and is expected to exhibit a CAGR of 34.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
CRISPR or Clustered Regularly Interspaced Short Palindromic Repeats genomic cures utilize genome editing techniques to correct genetic mutations, insert protective genes or destroy the genomes of diseases causing viruses or bacteria. Diseases such as cancer, genetic disorders, AIDS and sickle cell anemia are targeted using CRISPR technologies. It allows permanent and precise alterations to DNA sequences thus holding promise to cure currently incurable diseases by accurately repairing mutations at the DNA level.
Market Dynamics:
Growing global incidence of cancer and genetic disorders is driving demand for CRISPR genomic cures. According to WHO, cancer alone burdened nearly 10 million deaths in 2020 worldwide. As conventional treatments have limitations, genome editing tools such as CRISPR are being explored for developing permanent cures. Clinical trials are underway to evaluate CRISPR’s safety and efficacy in treating blood disorders like thalassemia, sickle cell disease and HIV/AIDS. Initial success in animal studies for Duchenne muscular dystrophy, cystic fibrosis, retinal degeneration and hearing loss indicate promising applications. Additionally, technological advancements improving specificity, delivery methods and scalability of CRISPR platforms are further expanding its potential. However, challenges pertaining to off-target effects and immunogenicity need to be addressed to strengthen clinical validity and commercial uptake of CRISPR therapies.
Segment Analysis
The CRISPR genomic cure market is dominated by the hereditary diseases sub-segment. About 3,000 rare hereditary diseases are caused by single-gene defects and CRISPR has the potential to cure many of these diseases by directly editing the defective gene. Genetic diseases like sickle cell disease, thalassemia, cystic fibrosis and Tay-Sachs disease could potentially be cured using CRISPR gene editing which is driving growth in this sub-segment.
PEST Analysis
Political: CRISPR faces strict regulations around gene editing applications in humans. Approvals from regulatory bodies like FDA in the US and EMA in Europe are required for clinical trials which could slow down research.
Economic: The rising prevalence of genetic disorders and increasing healthcare spending on orphan drugs is fueling investments in CRISPR based therapies. However, high costs of research and development pose challenges.
Social: Public acceptance is critical for clinical applications of gene editing. As therapies progress, education is needed to alleviate ethical and safety concerns surrounding ‘designer babies’ and human germline modifications.
Technological: Advances in delivery systems and gene drives help overcome efficiency and specificity issues. Novel Cas enzymes also expand the scope of diseases that can be targeted with CRISPR.
Key Takeaways
The global CRISPR Genomic Cure Market is expected to witness high growth, exhibiting CAGR of 34.7% over the forecast period 2023-2030, due to increasing prevalence of genetic and inherited diseases. The market size is estimated to reach US$ 18.4 billion by 2030 from US$ 1.84 billion in 2023.
The US is projected to be the fastest growing as well as largest regional market owing to availability of funding for research activities and presence of global players. Some notable deals include $670 million raised by Intellia Therapeutics in 2021.
North America is also expected to hold the major share backed by rising initiatives to encourage the development of advanced cell and gene therapies. For instance, the National Institutes of Health has committed over $130 million per year for the development of CRISPR-based therapies.
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. Major players are focused on strategic collaborations to advance their pipeline molecules towards clinical trials.
*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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