The global CRISPR and Cas Gene Market was valued at USD 1.8 billion in 2021. With an impressive projected growth rate of 30.2% from 2023 to 2033, the market is anticipated to experience a significant surge, outpacing historical growth trends.
The report highlights that the biomedical segment is expected to emerge as the highest revenue-generating sector within the market, with a forecasted compound annual growth rate (CAGR) of over 30.5% during the same period. This growth is driven by increasing investments in genetic research, advancements in gene-editing technologies, and the rising demand for innovative therapies and diagnostics.
Key Market Insights:
- Market valuation in 2021: US$ 1.8 billion
- Projected CAGR from 2023 to 2033: 30.2%
- Biomedical segment expected to grow at a CAGR of over 30.5%
The CRISPR and Cas gene market is witnessing transformative developments in areas such as genetic engineering, agriculture, and therapeutics, paving the way for novel applications in precision medicine and crop enhancement. As researchers and companies continue to explore the potential of gene-editing technologies, the market is poised for unprecedented growth.
With increasing regulatory support and a surge in collaborative research efforts, the CRISPR and Cas Gene Market is set to play a pivotal role in advancing biotechnology and addressing some of the most pressing health and agricultural challenges.
COVID-19 Impact Analysis on CRISPR and Cas Gene Industry
The recent outbreak of the COVID-19 has turned the spotlight on the healthcare industry, and subsequently impacted the Global CRISPR and Cas Gene market. Severe shortages of critical medical supplies and a rapid rise in number of COVID-19 cases have resulted into a revolution rather than evolution in the healthcare ecosystems. Consequently, the impact is noticeable in the CRISPR and Cas Gene industry.
Following government’s measures, particularly social distancing norms and stay-at-home orders, doctors are delaying or postponing elective surgeries unless critical to prevent the spread of the virus to individuals with comorbidities or chronic conditions. Additionally, movement restrictions and supply chain disruptions have created a logistical nightmare for market players, leading to severe product shortages in the global marketplace.
The FMI’s report includes an interesting chapter on preliminary impact of the COVID-19 on the CRISPR and Cas Gene industry. This allows both leading and emerging market players to understand the market scenario during a crisis and aids them in making sound decisions to gain a distinct competitive edge.
Moreover, the recent creation of a flexible, democratized genome-engineering toolbox based on programmable targeting of CRISPR, and Cas systems has been spurred by the discovery and characterization of CRISPR and Cas Genes. The method is commonly employed in research to discover new therapy options for neurodegenerative illnesses. Advances in genome editing have permitted the use of CRISPR-Cas systems in diagnostics and the evaluation of evolutionary analyses in prokaryotes.
Furthermore, the market is being driven by the development of CRISPR-based diagnostic tests to overcome the timing and sample collection constraints for COVID-19 screening.
Competitive Analysis
Some of the key players in the CRISPR and Cas Gene Market include AstraZeneca plc, Addgene, Caribou Biosciences, Inc., Cellectis, CRISPR Therapeutics, Editas Medicine, Inc., 23andMe, Inc., Color Genomics, Inc., Myriad Genetics, Inc., F. Hoffmann-La Roche AG, Bio-Rad Laboratories, Inc., Quest Diagnostics, Air Methods, and ALPHASTAR.
Some of the recent developments of key CRISPR and Cas Gene providers are as follows:
- In December 2020, Intellia Therapeutics, Inc. released preclinical data for NTLA-5001, the company’s wholly-owned Wilms’ Tumor 1-directed TCR-T cell therapy candidate for the treatment of acute myeloid leukemia.
- In August 2020, Editas Medicine stated that it has reclaimed complete ownership of a set of investigational CRISPR-based gene editing medicines for eye illnesses from AbbVie Inc.
- In May 2020, Sherlock Biosciences reported that the United States Food and Drug Administration (FDA) had granted Emergency Use Authorization for their Sherlock CRISPR SARS-CoV-2 kit, which is designed to identify the virus that causes COVID-19.
Similarly, recent developments related to the company’s CRISPR and Cas Gene services have been tracked by the team at Future Market Insights, which are available in the full report.
Market Segments Covered in CRISPR and Cas Gene Market Analysis
By Product Type:
- Kits & Enzymes
- Libraries
- Design Tool
- Antibodies
- Other products
By Service Type:
- Cell Line Engineering
- gRNA design
- Microbial Gene Editing
- DNA Synthesis
By Application:
- Clinical
- Financial
- Operational & Administrative
By End Use:
- Biotechnology & Pharmaceutical Companies
- Academics & Government Research Institutes
- Contract Research Organizations (CROs)
By Region:
- North America
- Latin America
- Europe
- APAC
- Middle East and Africa(MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
