NEW YORK, Dec. 16, 2020 /PRNewswire/ -- The global CRISPR and Cas genes market is projected to reach USD 4.75 Billion By 2027, and is expected to grow at a compound annual growth rate (CAGR) of 16.7% over the forecast period [2020 – 2027] according to a new study by Polaris Market Research. A rapid increase in the adoption of CRISPR technology in therapeutics, epigenetic, plant genome editing, human germline editing, and other fields of biotechnology is a primary factor anticipated to drive the market growth. In addition to this, CRISPR-Cas systems also find applications in immunization of cultures, self-targeted cell killing, bacterial strain typing, and engineering of metabolic pathways in order to improve biochemical synthesis, supports the growth of the global market. A rise in the incidence of genetic disorders, increase government funding for R&D of genome editing, and the adoption of CRISPR-Cas9 technology to boost crop production are further creating a positive environment for the global market.
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Key Findings for CRISPR and Cas Genes Market
- In terms of product type, the vector-based Cas segment accounted for the largest market share. These systems are useful for medical researchers working for enriching Cas9-expressing. Vector-based Cas also comes with a promoter that helps during the creation of stable cell lines.
- Based on application, genome engineering thriving as the dominating segment for the CRISPR and Cas genes market. Genomic engineering is derived from natural genomic sequences with a synthetic assembly of complete chromosomal DNA. The technology allows genetic material to be added, altered, or removed, from particular locations in the genome.
- In terms of end-user, the biotechnology & pharmaceutical companies segment is driving major growth for the global market. Increased adoption of CRISPR technology by leading biotechnology & pharmaceutical companies is responsible for segmental growth.
- A paper strip test called FELUDA test kit is developed at the Council of Scientific and Industrial Research (CSIR) by a team of scientists. FELUDA is a rapid and diagnostic test that uses a specially developed Cas9 protein in order to detect the SARS-CoV-2 virus and could be a game-changer in COVID-19 diagnostics.
According to the American Association for the Advancement of Science (AAAS) February 2020 release, the researchers have integrated two techniques viz. T cell therapy, which exploits the sentry of the body's immune system for destroying tumors and CRISPR, which is used for editing of DNA. The researchers have found the advanced CRISPR gene editing tool to be very safe when used on three patients suffering from cancer.
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Regional Insight & Trend Analysis
North American region is dominating the market for CRISPR and Cas genes owing to the largest number of CRISPR publications in the region. In addition to this, several pharmaceutical companies are deploying genome editing protocols to develop novel therapeutics, significantly contributing to the growth of the regional market. The Asia Pacific is estimated to exhibit the fastest growth rate during the forecast period on account of the growing preference for CRISPR technology during on-going clinical trials in the region.
The global market for CRISPR and Cas genes is highly fragmented due to the presence of new market entrance trying to stabilize their foothold and existing players working aggressively for new product launches. Additionally, the industry has witnessed several major strategic collaborations, acquisitions, and mergers, along with key partnerships among emerging players and prominent existing players in the market. Such strategic moves intended to boost the market presence of players. AstraZeneca, CRISPR Therapeutics, Addgene, Horizon Discovery Group Plc, New England BioLabs, Genscrip, Cellectis, Editas Medicine, Inc., Caribou Biosciences, Inc., Mammoth Biosciences, Danaher Corporation, Merck KGaA, Takara Bio, Inc, and Synthego are some of the key players operating in the market.
- Supply Side: Healthcare Companies
- Demand Side: Hospitals, Clinics, Research Laboratories, Academic Medical Centers
- Regulatory Side: World Health Organization (WHO)
- Associations and Industry Bodies: Food and Drug Associate (FDA)
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Polaris Market Research has segmented the CRISPR & Cas Genes market report on the basis of product & service, application, end-use, and region
CRISPR & Cas Genes Product & Service Outlook (Revenue – USD Million, 2016 – 2027)
- By Product
- Kits & Enzymes
- Vector-based Cas
- DNA-free Cas
- Design Tool
- By Service
- Cell Line Engineering
- gRNA Design
- Microbial Gene Editing
- DNA Synthesis
CRISPR & Cas Genes Application Outlook (Revenue – USD Million, 2016 – 2027)
- Genome Engineering
- Disease Model Studies
- Functional Genomics
CRISPR & Cas Genes End-use Outlook (Revenue – USD Million, 2016 – 2027)
- Biotechnology & Pharmaceutical Companies
- Academics & Government Research Institutes
- Contract Research Organizations (CROs)
CRISPR & Cas Genes Regional Outlook (Revenue – USD Million, 2016 – 2027)
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- MEA (Saudi Arabia, UAE, Israel, South Africa)
List of Key Players of CRISPR & Cas Genes Market
- Caribou Biosciences, Inc.
- CRISPR Therapeutics
- Danaher Corporation
- Editas Medicine, Inc.
- Horizon Discovery Group Plc
- Mammoth Biosciences
- New England BioLabs
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.
SOURCE Polaris Market Research