Burlingame, Dec. 04, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, The global crispr and cas gene market was valued at US$ 1.54 Billion in 2023 and is forecast to reach a value of US$ 6.47 Billion by 2030 at a CAGR of 22.8% between 2023 and 2030.
Increasing research and development activities and inorganic strategies by the market players to develop innovative products. Moreover, the market players are utilizing crispr technology to launch products for COVID-19 is expected to propel the market growth over the forecast period. For instance, in September 5, 2023, ERS Genomics Limited, announced a new license agreement with AlgenScribe SAS. This is a non-exclusive licensing agreement granting AlgenScribe access to the ERS CRISPR/Cas9 patent portfolio.
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Market Driver:
Increasing Crispr product launches
Increasing product lanches by the market players are expected to drive the crispr and cas gene market growth over the forecast period. For instance, on September 27, 2022, Vertex Pharmaceuticals Incorporated, a biotechnology company, and CRISPR Therapeutics, a biotechnology company headquartered in Zug, Switzerland, announced that Vertex has concluded discussion with the U.S. Food and Drug Administration (FDA), and the U.S. FDA granted exagamglogene autotemcel a rolling review for the potential treatment of sickle cell disease (SCD) and transfusion-dependent beta thalassemia (TDT). Vertex submitted its Biologics Licensing Application (BLA) for exa-cel for rolling review, in November 2022 and expects to complete the submission by the end of Q1 2023.
On July 27, 2023, Sherlock Biosciences, a CRISPR-based diagnostic technology developer, expected to launch an assay design service that allows users to access the firm’s novel artificial intelligence algorithms and create their own tests.
Market Key Developments:
On February 15, 2022, Intellia Therapeutics, Inc., a genome editing company and ONK Therapeutics Ltd, a company dedicated to developing optimally engineered natural killer (NK) cell therapies to cure patients with cancer, announced a licensing and collaboration agreement. The agreement grants ONK Therapeutics Ltd, a non-exclusive license to Intellia Therapeutics, Inc. proprietary ex vivo CRISPR/Cas9-based genome editing platform and its lipid nanoparticle (LNP)-based delivery technologies to develop up to five allogeneic NK cell therapies.
On May 6, 2021, CRISPR Therapeutics, a biopharmaceutical company focused on developing transformative gene-based medicines for serious diseases, and Nkarta, Inc., a biopharmaceutical company developing engineered NK cell therapies to treat cancer, announced a strategic partnership to research, develop, and commercialize CRISPR/Cas9 gene-edited cell therapies for cancer.
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Key Market Takeaways:
The global crispr and cas gene market is expected to exhibit a CAGR of 22.8% during the forecast period due to the increasing research and development activities for the development of products. For instance, on September 16, 2022, Editas Medicine, clinical-stage genome editing company, announced positive interim results from an ongoing Phase 1/2 clinical study of NTLA-2002, its second in vivo genome editing candidate. NTLA-2002 is a systemically administered CRISPR candidate being developed for hereditary angioedema (HAE) and is designed to knock out the KLKB1 gene in liver cells, thereby reducing the production of kallikrein protein.
Among application, the genome engineering is expected to dominate the market over the forecast period, and this is attributed to the increasing prevalence of chronic diseases such as cancer. For instance, according to data published by the American Cancer Society in 2020, there were estimated 1.9 million new cancer cases diagnosed and 609,360 cancer deaths in the U.S.
Market Opportunity:
On July 18, 2023, Sanofi, a pharmaceutical company, received exclusive license for privately-held Scribe Therapeutics,inc CRISPR X-Editing genome editing technologies to develop in-vivo therapies. On June 1, 2020, Regeneron Pharmaceuticals, Inc., a biotechnology company based in New York, U.S. and Intellia Therapeutics, Inc., a clinical stage biotechnology company based in Massachusetts, U.S., announced an expansion of their existing collaboration to provide regeneron with rights to develop products for additional in vivo CRISPR/Cas9-based therapeutic targets.
Market Cross Sectional Analysis:
Among product type, the vector-based cas segment is expected to be dominant during the forecast period in North America due to the key players focusing on organic strategies, such as the launch of new equipment, which is expected to drive the segment growth over the forecast period.
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Market Restraint:
According to data published by the University of California, Los Angeles, the possibility for off-target genome editing impacts is the main concern connected to CRISPR/Cas9 technology. Human DNA can undergo site-specific alterations as a result of CRISPR/Cas9 technology. The CRISPR/Cas9 system has been shown to have offtarget effects in addition to cleavage at the precise target region. Due in part to imperfect homologies between gRNA and other parts of the genome, various off-target effects are caused. Additionally, there is a chance that on-target actions will have unintended results.
The key players operating in the global crispr and cas gene market include Thermo Fisher Scientific Inc., Merck KGaA (Sigma-Aldrich), OriGene Technologies, Inc., New England Biolabs, Cellecta, Inc., Agilent Technologies, Inc., Applied StemCell, Inc., Synthego, Genscript, Mirus Bio LLC, Integrated DNA Technologies, Inc., and Mammoth Biosciences, Inc.
Crispr and Cas Gene Market Detailed Segmentation:
- By Product Type:
- Vector-based Cas
- DNA-free Cas
- Others
- By Application:
- Genome Engineering
- Disease Models
- Functional Genomics
- Knockdown/Activation
- Others
- By End User:
- Biotechnology and Pharmaceutical Companies
- Academic & Government Research Institutes
- Contract Research Organizations
- By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa
- North America
Read complete market research report, "Crispr and Cas Gene Market, By Product, By Application, By End User, By Region, and Segment Forecast 2023-2030", Published by Coherent Market Insights.
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