Global CRISPR & Cas Genes Market Size & Share Will Reach USD 7.24 Billion By 2029 | CAGR: 18.2%: Polaris Market Research

NEW YORK, March 28, 2022 /PRNewswire/ -- Polaris Market Research recently published a research report on "CRISPR & Cas Genes Market Size, Share & Trends Analysis Report, By Product & Service (Product {Kits & Enzymes, Libraries, Design Tool, Antibodies, Others}, Service {Cell Line Engineering, gRNA Design, Microbial Gene Editing, DNA synthesis}); By Application; By End Use; and By Region; Segment Forecasts, 2021 - 2029" in its research database.

According to research report, the global CRISPR & Cas Genes Market size & share expected to reach USD 7.24 Billion by 2029 from USD 1.60 Billion in 2020, at a compound annual growth rate (CAGR) of 18.2% during forecast period 2021 - 2029.

CRISPR & Cas Genes Market: Report Overview

CRISPR & Cas is a unique technology that allows scientists to easily alter DNA sequences and manipulate genes regions. In the medical field, it is used to correcting genetic defects, treat and prevent the spread of diseases, and genetic diseases produce genetically modified organisms. This technology is faster and more accurate than traditional techniques of editing DNA and has a wide variety application.

COVID-19 pandemic is anticipated to positively affect CRISPR & Cas genes market due to high demand for COVID-19 diagnostic tests. Also scientists are working on establishing COVID-19 genetic diagnostic equipment through this technology for treatment of coronavirus. CRISPR-based diagnostic tests are meant to offer advantages such as high precision and sensitivity, rapid detection, no requirement of special laboratory equipment. Due to the COVID-19 pandemic, the CRISPR & Cas genes market is expected to progress during the forecast period.

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Key Aspects Covered By Report:

• Analysis and research of the global CRISPR & Cas genes market status and future forecast, involving production, revenue, consumption, historical, and forecast.
• Key manufacturers along with their production, revenue, market share, and recent development.
• Breakdown data by regions, type, manufacturers, and applications
• Qualitative and quantitative analysis of the global CRISPR & Cas genes market
• The global and key regions market potential and advantage, opportunity, challenge, drivers, restraints, and risks.
• Competitive developments such as expansions, agreements, new product launches, and acquisitions in the global CRISPR & Cas genes market.

Top Market Players Are:

• Add gene
• AstraZeneca plc. Beam Therapeutics
• Caribou Biosciences Inc.
• Cellectis
• CRISPR Therapeutics
• Cibus
• Danaher Corporation
• Editas Medicine Inc.
• eGenesis
• F. Hoffmann-La Roche Ltd.
• GenScript
• Hera Bio Labs
• Horizon Discovery Group plc
• Inscripta Inc.
• Intellia Therapeutics Inc.
• Intellia Therapeutics Inc.
• Lonza
• Mammoth Biosciences
• Merck KGaA
• OriGene Technologies Inc.
• PLANTeDIT
• Recombine tics Inc.
• Synthego
• Takara Bio Inc.
• Thermo Fisher Scientific Inc.
• Vertex Pharmaceuticals Incorporated

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CRISPR & Cas Genes Market: Growth Driving Factors 

Rising government and private funding for development of novel therapies is anticipated to fuel the growth of global CRISPR & Cas genes market. Growing prevalence of genetic disorders among individuals has boosted the use of CRISPER/Cas genes in the treatment of diseases. Also, increasing prevalence of various genetic disorders and cancer is leading to rising focus on production of novel therapeutics, which is one of the major factors driving the growth of global CRISPR & Cas genes market.

Moreover, technology advancements in CRISPR is likely to accelerate the growth of the market over the forecast period. Due to the characteristics of CRISPER & Cas genes such as simple design, low-cost, high-efficiency, good repeatability, and short-cycle, they are used in genome editing technology in molecular biology laboratories across the world, which is anticipated to drive the market growth. CRISPR-Cas systems have also been used in the treatment of hematologic diseases, such as sickle cell disease (SCD) and hemophilia B (HB).  It has also been found effective for treating metastatic cancer. Its application range are enabling different biotechnical companies to invest into CRISPER/Cas genes market, thereby boosting the growth of the market. 

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Global CRISPR & Cas Genes Market: Report Scope

CRISPR & Cas Genes Market: Market Segmentation

• Insight by Application

Based on application, the biomedical applications segment accounted the largest market revenue share of 86.5% in the global market. This dominance can be attributed to rising implementation of CRISPR & Cas genes-editing techniques in several fields of biomedical studies. Then, immense research in the biomedical field is projected to boost the biomedical applications segment growth during the forecast period. Moreover, the implementation and use of nano-carriers and the development of improved delivery systems have substantially increased the effectiveness and uniqueness of this technology.

• Insight by End-use

Based on end-use, the biotechnology and pharmaceutical companies segment led the market by accounting the largest revenue share of 18.3% in 2020. CRISPR-Cas9 is getting high adoption from pharmaceutical companies that are creating better biological models for human diseases. Due to its characteristics, it accelerates the identification & validation of new therapeutic targets. Moreover, due to growing momentum by cell and gene therapies, CRISPR-based gene-editing techniques are experiencing high demand for the development of novel therapies.

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CRISPR & Cas Genes Market: Geographical Overview:

Based on geography, North America dominated the market and accounted for the largest market share of 45.5% of in 2020. This growth can be attributed to the expanding biopharmaceutical R&D. Many pharmaceutical companies are actively involved in developing novel therapies by using genes-editing tools and this factor is significantly contributing to the dominance of the region. Moreover, the U.S. has the well-established market for CRISPR publications representing extensive research in the region.

Further, Asia Pacific is expected to witness the fastest growth during the forecast period. Key drivers accelerating the market expansion in the region includes growing number of ongoing clinical trials and increasing research in gene editing tools in the region. In addition, increasing government funding in research & development activities to discover innovative therapies are also boosting the market growth in the region.

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Some of The Key Questions From Our Customers Are:

• Which are the five top players of the global CRISPR & Cas genes market?
• How will the market change in the next five years?
• What are the drivers and restraints of the CRISPR & Cas genes market?
• Which regional market will show the highest growth?
• What will be the CAGR and size of the CRISPR & Cas genes market throughout the forecast period?
• Which area offers the most significant benefit for the market?
• What are the threats to business and the impact of the current scenario on growth and market perception?

The market is primarily segmented on the basis of product & service, by application, by end-use, and geographic region.

CRISPR & Cas Genes Market: By Product & Service Outlook

• By Product
• Kits & Enzymes
• Vector-based Cas
• DNA-free Cas
• Libraries
• Design Tool
• Antibodies
• Others
• By Service
• Cell Line Engineering
• gRNA Design
• Microbial Gene Editing
• DNA Synthesis

CRISPR & Cas Genes Market: By Application Outlook

• Biomedical
• Genome Engineering
• Disease Model Studies
• Functional Genomics
• Epigenetics
• Others
• Agricultural

CRISPR & Cas Genes Market: By End-Use Outlook

• Biotechnology & Pharmaceutical Companies
• Academics & Government Research Institutes
• Contract Research Organizations (CROs)

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SOURCE Polaris Market Research