The CRISPR and CAS Gene Market is a rapidly evolving segment where companies are constantly developing improved tools and technologies for various genome editing applications like genetic diseases, agricultural biotech and others. CRISPR and CAS gene editing is considered as the next big frontier in life sciences with its capability of precisely modifying genes with tremendous ease and efficiency. Products associated with the CRISPR gene editing technologies include kits, vectors, enzymes and designs which allow for manipulating genes at a relatively low cost.
The global CRISPR and CAS Gene Market is estimated to be valued at US$ 1.54 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased R&D investment is one of the major trends fueling the growth of CRISPR and CAS gene market. Leading industry players and research organizations have significantly increased their funding for advancing CRISPR based technologies over the recent years. For instance, in 2020, Feng Zhang who is a bioengineer and scientist received $1.5 million funding from Innovative Genomics Institute (IGI) at University of California, Berkeley to develop next-generation gene editing tools. Similarly, companies like Intellia Therapeutics and CRISPR Therapeutics have raised substantial capital to drive clinical research for developing CRISPR treatments for genetic diseases. Growing cash flow is allowing companies to invest more aggressively in developing improved and innovative CRISPR products and applications, which is heightening the potential of this technology to transform research and therapeutics.
Segment Analysis
The global CRISPR and CAS Gene market is segmented into products, applications, end users, and regions. Based on products, the diagnostics kits/reagent segment dominates the market due to increasing adoption of gene editing techniques and rise in R&D funding by governments and private organizations for developing novel diagnostic procedures. The demand for diagnostics kits/reagent is high as it helps researcher to design custom vectors for gene editing.
Key Takeaways
The Global CRISPR And CAS Gene Market Size is expected to witness high growth during the forecast period of 2023-2030 supported by increasing funding from government as well as private organizations for developing novel therapeutics. The global CRISPR and CAS Gene Market is estimated to be valued at US$ 1.54 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030.
Regional analysis shows that North America dominates the global CRISPR and CAS Gene market and is expected to maintain its dominance during the forecast period. The regional growth is attributed to increasing adoption of gene editing tools for disease modeling and presence of major players and research institutes in the US. For instance, the US FDA has approved first CRISPR-based therapy for treatment of certain genetic disorders. Europe is also estimated to show high growth owing to government funding for R&D activities.
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. Rescroft Ltd is focused on expanding its product portfolio through collaborations.
For More Insights, Read: https://www.newswirestats.com/crispr-and-cas-gene-market-size-share-and-growth-forecast-2023-2030/
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Research Nester released a report titled “CRISPR and CAS Gene Technology Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global CRISPR and CAS gene technology market in terms of market segmentation by products & services, application, and by region.Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.The global CRISPR and CAS gene technology marketis projected to grow with a high CAGR during the forecast period, i.e., 2022-2030, on account of the growing number of applications of CRISPR and CAS gene technology and rising government and private expenditure regarding technological medical research.
As per research conducted by the National Cancer Institute of U.S., CRISPR and CAS gene technology may be used in cancer immunotherapies, as proved from a clinical trial conducted in 2019 at the University of Pennsylvania in which patients’ immune cells were modified genetically to destroy their cancer.The market is segmented by products & services and application.
Based on products & services, the services segment is anticipated to hold the largest share during the forecast period as the technology is gaining worldwide recognition for its usage in genome editing in view of its simplicity and efficiency.Request Sample For More Information@ https://www.researchnester.com/sample-request-3287On the basis of region, the global CRISPR and CAS gene technology market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, Asia Pacific is projected to grow at the highest CAGR throughout the forecast period, which can be credited to the increasing government & private investments in CRISPR and CAS gene technology in the region.
Furthermore, the market in North America is predicted to occupy the largest share ascribing to the presence of leading pharma and biotech organizations in the region, who are extensively involved in the research and development for innovative gene technology procedures.Growing Applications of CRISPR and CAS Gene Technology to Drive Market GrowthCRISPR and CAS gene technology has enabled efficient and targeted genome modification in many species that have been unmanageable using traditional genetic manipulation techniques.
It has been estimated that this can help in creating a huge impact in editing plant genomes thereby facilitating several beneficial agricultural applications, which is considered to be major factor driving growth in the region.However, pending patent issues and outcomes of clinical trials of the technology is estimated to restrain market growth in the near future.This report also provides the existing competitive scenario of some of the key players of the global CRISPR and CAS gene technology marketwhich includes company profiling of Thermo Fisher Scientific Inc., Origene Technologies, Addgene, Inc., Merck KGaA, GenScript Biotech, Cellecta, Inc., Caribou Biosciences, Inc., Horizon Discovery Group, Mammoth Biosciences Inc., Inscripta, Inc., and others.
On the whole, the report depicts detailed overview of the global CRISPR and CAS gene technology marketthat will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.Grab PDF Sample For More Information@ https://www.researchnester.com/sample-request-3287About UsResearch Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties.
