The newly released CRISPR and Cas Gene Market analysis report by Future Market Insights shows that global sales of CRISPR and Cas Gene Market in 2021 were held at USD 1.8 Billion. With 30.2%, the projected market growth from 2023 to 2033 is expected to be significantly higher than the historical growth. Biomedical is expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 30.5% from 2023 to 2033.
| Attribute | Details |
|---|---|
| Global CRISPR and Cas Genes Market (2023) | USD 2.4 Billion |
| Global CRISPR and Cas Genes Market (2033) | USD 32.9 Billion |
| Global CRISPR and Cas Genes Market CAGR (2023 to 2033) | 30.2% |
| USA and Cas Genes Market CAGR (2023 to 2033) | 28.5% |
| Key Companies Profiled | 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; ALPHASTAR |
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As per the CRISPR and Cas Gene Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the CRISPR and Cas Gene Market increased at around 30.2% CAGR.
The approach is employed primarily to study the evolution of bacteria. Governments throughout the globe have promoted investments in genome editing developments, paving the path for the rise of the CRISPR and Cas Genes markets.
The invention of the Cas-9 technology is the most significant advancement in this discipline. This is a game-changing breakthrough in biomedical research. The use of CRISPR/Cas-9 focuses on somatic cell genome editing and intends to speed up therapy for various genetic illnesses.
Furthermore, the COVID-19 pandemic is expected to uncover credible uses of this approach to explain the mutation of the new coronavirus. CRISPR-based testing has been shown in studies to be more accurate than other approaches such as RT-PCR assays.
Furthermore, genome editing is expanding the potential to clarify genetics' role in diagnostics by enabling more precise cellular and animal models of disease processes.
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.
Lately, it was observed that research institutions and businesses are working hard to explore new horizons to implement the use of CRISPR and Cas Gene for commercial purposes, thereby it is expected that the demand for gene-editing patents will shoot up.
Also, there has been a spike in the use of this technology for various medical and non-traditional applications, which will drive the demand for the CRISPR and Cas Gene market. However, the expansion of the global CRISPR and Cas Gene market is projected to be restricted due to rising ethical and safety concerns regarding CRISPR and Cas Gene therapy for gene editing and the creation of genetically modified foods or organisms.
The altering of the human germline is the primary ethical issue related to CRISPR technology. CRISPR technology is intended to correct a faulty human gene in order to treat specific diseases. Several organizations have expressed worry that employing CRISPR technology may alter humans' native DNA, which is immoral.
In 2021, North America held the largest share of the global CRISPR and Cas Gene market. Increased funding for research efforts for the prevention of chronic illnesses is expected to fuel the growth of the CRISPR and Cas Genes market in North America. Furthermore, positive efforts by the government and an increase in the number of research collaborations are likely to boost market expansion.
However, the market in Asia-Pacific is expected to expand at a high rate with China growing at a CAGR of over 35%. The need for genetically modified therapeutic alternatives for chronic diseases such as cancer is expected to boost the market's development prospects in the Asia Pacific.
The United States is expected to have the highest market of USD 9.4 Billion by 2033. Due to favorable healthcare legislation, a high prevalence of chronic illnesses, and a developed healthcare sector, the market in the United States accounts for the largest share.
The market in the United Kingdom is expected to reach a valuation of USD 2 Billion by 2032, growing at a CAGR of 34.8% from 2023 to 2033. The market is projected to gross an absolute dollar opportunity of USD 1.9 Billion during the forecast period.
In Japan, the market is expected to reach a valuation of USD 1.6 Billion by 2033. During the forecast period, the market in the country is expected to garner an absolute dollar opportunity of USD 1.5 Billion, growing at a CAGR of 34.9%.
The market in South Korea is projected to grow at a CAGR of 30.1% from 2023 to 2033. During this period, the market is projected to witness an absolute dollar opportunity of USD 683 Million and reach USD 736 Million by 2032.
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CRISPR and Cas Gene Products are expected to command the largest revenue as well as a CAGR of nearly 30%, during the forecast period. The availability of novel tools and CRISPR gene editing kits for gene modification investigations meets the increasing need for genome editing solutions.
The increased demand for genome editing solutions is met by the availability of novel tools and CRISPR gene kits, which helps in modifications Furthermore, higher R&D investments, as well as the introduction of novel applications, are expected to boost the market.
Since more gene-editing researchers are employing these technologies, the market is expected to generate higher revenue throughout the projected period. Cell line engineering services, on the other hand, are the most popular among CRISPR-based gene editing companies. This technology is being used by corporations to develop a range of CRISPR cell line models with distinct gene or locus-specific modifications.
Biomedical applications commanded the largest revenue as well as CAGR of 30.5%, during the forecast period. The growing usage of CRISPR gene-editing methods in numerous sectors of biological sciences has contributed significantly to the segment's high profitability.
Over the forecast period, extensive biomedical research is expected to boost the sector. Furthermore, the utilization of nano-carriers and the development of novel delivery systems have boosted the efficacy and distinctiveness of this technology significantly. The Cas9 nuclease's development allows for simple and accurate genome editing. As a result, the gene and cell therapy industries will have a direct impact on how CRISPR genome editing technology is used.
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:
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.
The global market is forecasted to follow a y-o-y growth rate of roughly 30.2% through 2033.
The overall market size projected to close on a valuation of USD 32.9 billion by 2033.
Proliferation of research institutes has boosted the CRISPR and Cas gene demand.
The biomedical application segment commanded over 30% of the global market in 2022.
The United States leads in this technology and could have a USD 9.4 billion market by 2033.
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