CRISPR And Cas Genes Market To Hit Value .6 Billion By 2030 |Grand View Research, Inc.
Posted by Mrudula Karmarkar on January 25th, 2023
The global CRISPR and Cas genes market size is expected to reach USD 9.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 17.9% during the forecast period, owing to the increasing usage of CRISPR and Cas genes systems in the biomedical research field. The use of CRISPR-Cas systems in diagnostics and the assessment of evolutionary analysis in prokaryotes has significantly increased, owing to the developments in the field of genome editing. The application of this technology enables easy and cost-efficient editing of genes. Genome editing has made a significant advancement in biomedical research, with the present trend of cutting-edge techniques paving the way for the future treatment of different genetic and non-genetic disorders.
The development and implementation of more effective ways for gene targeting and the generation of gene-edited avian species have been facilitated by the availability of the CRISPR/Cas9-mediated gene and genome editing technology. According to an article published on Frontiers in February 2021, CRISPR/Cas9 has become a robust and important tool for gene editing in the poultry industry. Potential applications in several fields would further boost the demand for this technology. The COVID-19 outbreak shifted the researcher’s emphasis to the development of COVID-19 molecular diagnostic tools based on this technology. For instance, in March 2021, Nanyang Technological University researchers in Singapore created a COVID-19 test based on CRISPR that provides results in 30 minutes.
Even after the virus has mutated, this test still discovers it. This would further encourage the other key players to leverage this technique, thereby driving the industry's growth. This technology is increasingly being used for several medical and other applications. Competition over patents for such a gene-editing technology is expected to grow, as more academic institutions and biotech companies attempt to develop new commercial applications of this technology. In addition, there is a lot of potential for this technique to advance with the use of machine learning technologies. For instance, in August 2022, Synthego launched engineered cell libraries, a cutting-edge service that expands access to CRISPR by giving arrayed CRISPR-edited cells for use directly in functional screening experiments.
It has potential applications in disease research. Key players offer tools and solutions for each step of the gene editing workflow. Integrating several tools, services, and improved processes makes it possible to complete research experiments rapidly and with little effort. Moreover, key players have raised significant funding to support the R&D of the CRISPR & Cas9 gene-editing approach. For instance, in April 2021, Vertex Pharmaceuticals collaborated with CRISPR Therapeutics to develop and manufacture a new CRISPR/Cas9-based gene editing therapy called CTX001, a potential therapeutic option for transfusion-dependent beta-thalassemia and Sickle Cell Disease (SCD). In January 2020, Mammoth Biosciences raised USD 45 million to develop next-gen CRISPR products for therapeutics & diagnostics purposes. This would further be used to develop the company’s CRISPR genes-driven diagnostics portfolio.
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Recent advancements in biotechnological research have enabled CRISPR & Cas gene systems to find widespread applications that directly or indirectly aid human health. For example, somatic gene editing, which involves engineering an individual’s DNA, has been used to treat diseases like HIV, sickle-cell disease, and transthyretin amyloidosis. The technique is anticipated to be part of novel therapeutic options for different types of cancers. The technological advancements in CRISPR & Cas gene systems have contemporarily revolutionized the area of cancer research and therapeutics.
CRISPR And Cas Genes Market Report Highlights
Moreover, the COVID-19 pandemic has boosted the usage of CRISPR & Cas gene technology and has been widely used in nucleic acid detection due to its reliability and sensitivity. Since the advent of CRISPR as a tool for DNA editing, it is increasingly being adopted by key biotechnology and pharmaceutical companies for the development of drugs and therapies. For instance, in August 2022, iNtRON Biotechnology announced the development of a customized CRISPR/Cas system for the genetic modification of bacteria and bacteriophage. The CRISPR technology improves the therapeutic efficacy of modified T-cells for the treatment of various malignancies. In addition, the development of Chimeric Antigen Receptor T (CAR-T) cells is strongly related to cancer treatment.
In May 2022, Caribou Biosciences, Inc. presented data on the mechanism underlying the potential of the chRDNA genome-editing technology in primary human T cells. It provides a reproducible and robust technique to boost the specificity of genome editing, and it improves the efficacy of allogeneic cell therapies. These developments are anticipated to drive the growth of the industry in the coming years. Innovative technologies, such as karyotyping, neonatal screening, viral screening, and others, have boosted the demand for gene editing techniques like CRISPR & Cas gene technology. Moreover, the use of CRISPR & Cas gene technology to enhance agricultural production through innovative breeding strategies have increased the adoption of these technologies in the biotechnology industry.
List of Key Players in the CRISPR And Cas Genes Market
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About the AuthorMrudula Karmarkar
Joined: March 30th, 2020
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