Global CRISPR and CRISPR-associated (Cas) Genes Market Report 2022-2027 - Growing Investments in R&D Programs by Biotechnology Companies and Non-Profit Organizations - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "CRISPR and CRISPR-associated (Cas) Genes Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The Global CRISPR and CRISPR-associated (Cas) Genes Market was estimated to be USD 1,563.52 million in 2020 and is poised to grow at a CAGR of 15.67% to reach USD 3,733.66 million by the year 2026.
The COVID-19 pandemic is expected to have a positive impact on the market due to an increase in demand for COVID-19 diagnostic tests. In May 2020, Sherlock Biosciences announced that it had received Emergency Use Authorization from the United States Food and Drug Administration (FDA) for its Sherlock CRISPR SARS-CoV-2 kit which is used for the detection of the virus that causes COVID-19. The Sherlock CRISPR SARS-CoV-2 kit could provide results in approximately one hour, a timeframe that was much lower than the other tests available in the market at that time. In December 2020, researchers from the University of California, San Francisco, UC Berkeley, and the Gladstone Institutes announced a collaboration to develop a new CRISPR-based test for COVID-19 by turning a basic smartphone camera into a microscope capable of detecting the coronavirus' genetic material. Initiatives such as these are expected to have a positive effect on the market for CRISPR and CRISPR-associated (Cas) Genes.
The other major factor attributing to the growth of the market includes the increasing adoption of the CRISPR-Cas9 system in genome editing and other biotechnological areas. CRISPR witnessed growth over the past few years from discovery of its role in adaptive immunity in bacteria to its development into a potent and accessible tool in genetics. CRISPR technology is driving advances in genome editing across medicine, biotechnology, and agriculture, which has enabled scientists to conduct research in these field through faster and more efficient genome editing across the world. The demand for CRISPR technology is on the rise due to its easy, fast, and inexpensive access to vectors and the resulting next-generation tools made available by the nonprofit plasmid repository Addgene. According to "The CRISPR Journal" as of January 2018, Addgene distributed more than 100,000 CRISPR plasmids to 3,400 laboratories worldwide; additionally, more than 6,300 CRISPR-related plasmids were developed by over 330 research labs and added into Addgene's collection. Initiatives and collaborative engagements such as these by companies are expected to have a positive effect on the market.
Furthermore, the growing investments in research and development programs by biotechnology companies and non-profit organizations is boosting the market growth. For example, in December 2020, CRISPR Therapeutics announced that it had received a grant from the Bill & Melinda Gates Foundation for research into in vivo gene editing therapies which can be used for the treatment of HIV. Again, in January 2020, Mammoth Biosciences announced that it had received USD 45 million in the latest round of its Series B funding. The funding was expected to help in the further development of CRISPR diagnostics and next-generation CRISPR products for the company.
Major Market Trends
- Genome Engineering Segment Holds the Largest Share in the Market
- North America Dominates the Market and is Expected to Continue Over the Forecast Period
The CRISPR and CRISPR-associated (Cas) genes market is moderately consolidated and consists of a few major players. Some of the market players are OriGene Technologies, Inc., Thermo Fisher Scientific, Takara Bio Inc, Horizon Discovery Ltd., Addgene, Merck KGaA, Caribou Biosciences, Inc., CRISPR THERAPEUTICS, Editas Medicine, and Mirus Bio LLC.
Additionally, the key players have been involved in various strategic alliances such as acquisitions, collaborations, financing along with the launch of advanced products to secure the position in the global market. For instance, in March 2021, Caribou Biosciences, Inc., a major clinical-stage CRISPR genome editing firm, announced that it had completed a Series C financing of USD 115 million.
Key Topics Covered
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Adoption of Technology in different Biotechnology Areas
4.2.2 Increasing Research in Plant Genome Editing Programs
4.2.3 Increasing Research and Development Programs in Genomics and Biotechnology Sector
4.3 Market Restraints
4.3.1 Off-target Effects Associated with the Implementation of CRISPR
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Vector-based Cas
5.1.2 DNA-free Cas
5.2 By Application
5.2.1 Genome Engineering
5.2.2 Disease Models
5.2.3 Functional Genomics
5.3.1 North America
5.3.4 Middle East and Africa
5.3.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 OriGene Technologies, Inc.
6.1.2 Thermo Fisher Scientific
6.1.3 Takara Bio Inc.
6.1.4 Horizon Discovery Ltd.
6.1.6 Merck KGaA
6.1.7 Caribou Biosciences, Inc.
6.1.8 CRISPR Therapeutics
6.1.9 Editas Medicine
6.1.10 Mirus Bio LLC
6.1.11 Intellia Therapeutics
6.1.12 Sangamo Therapeutics
6.1.13 Inscripta, Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/i14tu
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