by Crispr technology or clustered regularly interspaced short palindromic repeats holds immense potential for curing genetic diseases by precisely editing DNA and RNA. The technology allows editing genes with high accuracy at specific locations, thereby altering or removing faulty genes that cause genetic disorders like sickle cell anemia, cystic fibrosis and various types of cancer. CRISPR therapeutics aim at developing curative therapies by delivering CRISPR components such as guide RNA and Cas9 protein into patients using AAV or lipid nanoparticles which helps in correcting disease-causing mutations at the DNA level.
The global CRISPR genomic cure market is estimated to be valued at US$ 2.12 billion in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving the Crispr genomic cure market is the increasing focus on developing novel therapies for disorders without drugs and investment in Crispr based treatment research. For instance, Intellia Therapeutics is developing various Crispr therapies targeting Transthyretin Amyloidosis, Acute Myeloid Leukemia using lipid nanoparticles to deliver CRISPR/Cas9 components. Similarly, CRISPR Therapeutics along with Vertex Pharmaceuticals are developing CTX001, an investigational CRISPR/Cas9 gene-editing therapy to cure sickle cell disease and transfusion-dependent beta-thalassemia. The partnership aims to develop curative treatment options using CRISPR technology for various blood disorders and expedite clinical development.
Porter’s Analysis
Threat of new entrants: Low barriers of entry with genome editing capabilities, IP protection through patents pose challenges for new entrants.
Bargaining power of buyers: Large pharmaceutical companies have strong bargaining power while negotiating licensing and partnership deals due to their large scale of operations.
Bargaining power of suppliers: A few number of biotech companies control the supply of CRISPR technology and reagents, giving them strong bargaining power in the market.
Threat of new substitutes: No viable substitute technology currently exists for genome editing capabilities offered by CRISPR.
Competitive rivalry: The market is highly concentrated with top players competing on expanding clinical pipelines and strategic collaborations.
Key Takeaways
The Global Crispr Genomic Cure Market Demand is expected to witness high growth.
Regional analysis comprises North America dominates the market currently due to presence of key market players and high adoption rate of Crispr technology. Europe and Asia Pacific are fastest growing regions due to increasing research funding and clinical trials.
Key players operating in the Crispr Genomic Cure Market are Marriott International, Hilton Worldwide Holdings Inc., InterContinental Hotels Group PLC, and Four Seasons Hotels and Resorts. The key players are focusing on expanding their clinical pipelines through collaborations and partnerships to gain early mover advantages.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
