by Crispr along with Cas9 enzymes enables targeted genome editing and modifying gene function with high precision. It has applications in treating rare genetic diseases, cancer therapies, agriculture to develop drought/disease resistant crops.
The Global Crispr And Cas Gene Market is estimated to be valued at US$ 1.78 Bn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period between 2024 to 2031.
Key Takeaways
Key players operating in the Crispr and Cas gene market are Rescroft Ltd., USSC Group, Inc., Magna International, Inc., Rojac Urethane Limited, GRAMMER AG, TransCal, Freedman Seating Co., Delimajaya Group, Franz Kiel GmbH, iFoam Ltd., Compin-Fainsa, FlexoFoam Pvt. Ltd., FISA Srl, FENIX Group, LLC, and Kustom Seating Unlimited, Inc. and Others. The rising prevalence of genetic diseases and cancer are fuelling demand for gene therapies. Companies are actively involved in research and clinical trials to develop therapies using Crispr and are expanding globally.
Growing demand in the market: The demand for Crispr And Cas Gene Market Size based gene therapies is growing significantly driven by rising prevalence of genetic disorders and need for customized medicine. Genetic disorders like sickle cell anemia, cystic fibrosis, muscular dystrophy have significant patient population driving development of targeted gene therapies using Crispr. Furthermore rising incidence of cancer globally is another key factor boosting research in Crispr based immunotherapies and targeted therapies.
Global expansion of the market: Leading players in the Crispr market are increasingly focusing on expanding their geographic presence globally. Companies are investing to setup research centers and manufacturing facilities in regions with high target disease prevalence like North America, Europe, Asia Pacific. Partnerships with regional research institutes are helping improve access to technologies. Additionally, acquisitions are enabling companies to enhance their product pipelines and global customer reach.
Market key trends: One of the major trends in the Crispr market is the development of CRISPR-enabled gene and cell therapies. Several clinical trials are assessing efficacy and safety of Crispr therapies for genetic and acquired diseases like beta-thalassemia, sickle cell disease and cancer. Additionally, advancement of precision genome editing technologies using base editors and prime editors is expected to enhance the applications of Crispr/Cas system and drive its adoption.
Porter’s Analysis
Threat of new entrants: Low barriers to entry as research and development costs as well as regulatory and legal hurdles in genetic engineering are relatively high.
Bargaining power of buyers: Buyers have moderate bargaining power given some options from competing technologies. Customers can also collaborate to develop their own internal capabilities in CRISPR.
Bargaining power of suppliers: Suppliers have moderate bargaining power given the differentiated nature of inputs required for CRISPR technologies and pressures to lower costs.
Threat of new substitutes: Threat of new substitutes is moderate as other gene editing technologies may emerge but CRISPR has significant advantages over older methods.
Competitive rivalry: High as major players globally pursue gains in intellectual property and collaborate extensively with pharmaceutical companies and academic labs.
Geographical Regions
North America accounts for the largest share of the global CRISPR and Cas gene market due to its robust economy and increasing R&D investment in the region. The region’s cutting-edge life science infrastructure and rising prevalence of genetic disorders also contribute to its dominance.
The Asia Pacific region is projected to grow at the fastest pace over the forecast period. This is attributed to increasing government funding for life science research, expanding capacity of genome editing companies, and growing awareness about CRISPR technology among populations. Rising biotech hubs in countries like China and India will fuel the market.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
