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CRISPR and CAS Gene Technology Market Segmentation by Products & Services {Products (Enzymes, Kits, Libraries, and Others), and Services (gRNA Design, Cell Line Engineering, and Others)}; and by Application (Biomedical, Agricultural, Industrial, Biological Research, and Others) – Global Demand Analysis and Opportunity Outlook 2030

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Extensive insights into the Growth of CRISPR and CAS Gene Technology Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • December 2020: GenScript Biotech entered into an agreement with InnoBation Co. Ltd. for the cell line development and engineering of GMP plasmids and lentivirus. Through this agreement, GenScript is aiming to provide CRO services to InnoBation by using CRISPR and CAS gene technology.

  • March 2020: University of Connecticut Health Center developed “All-In-One Dual CRISPR-Cas 12a (AIOD-CRISPR)” assay method, which performs ultrasensitive, specific, and visual detection of nucleic acid in the SARS-COV-2 virus and can test for COVID-19 infection at a quicker pace.

  • February 2020: Mammoth Biosciences developed a new CRISPR technology-based test for COVID- 19 detections called “SARS-COV-2 DETECTR”, which can take out results within an hour of the test using loop-mediated amplification and CAS12 enzyme.

Global CRISPR and CAS Gene Technology Market Highlights 2022-2030

The global CRISPR and CAS gene technology market is estimated to grow with a high CAGR during the forecast period, i.e., 2022-2030. The rising applications of CRISPR and CAS gene technology, along with the increasing government and private funding for medical research, are expected to fuel the progress of this market. In addition, the research expenditure on the technology has been increasing at a faster, which is also anticipated to boost market growth in the coming years. The growth of the market can also be attributed to factors such as the need for innovative treatments for cancer, infectious diseases, & genetic disorders, and implementation of favorable regulatory policies on a global level. Along with theses, the CRISPR and CAS gene technology can be deployed to target specific genes and knocking them out, and therefore, can be adopted for cancer therapy. According to the data collected from the National Cancer Institute of U.S., CRISPR and CAS gene technology may be deployed in immunotherapies of cancer, as stated by a clinical trial conducted in 2019 at University of Pennsylvania in which patients’ immune cells were genetically modified to kill their cancer. Furthermore, CRISPR-engineered therapies have a broad range of potential clinical applications such as lowering the resistance of tumors in lung cancer patients, understanding host-pathogen interactions in infectious diseases, and developing diagnostics to facilitate early recognition and treatment of infectious diseasesCLICK TO DOWNLOAD SAMPLE REPORT

CRISPR and CAS Gene Technology Market

The global CRISPR and CAS gene technology market is segmented on the basis of products & services into products (enzymes, kits, libraries, and others) & services (gRNA Design, cell line engineering, and others), out of which the services segment is anticipated to grab the largest share by the end of 2030 on account of continuously advancing research and development activities related to CRISPR and CAS gene technology services. Moreover, these services are widely being used in genome editing to make the whole process faster, easier, less expensive, and more efficient, which is also projected to contribute to the growth of the segment during the forecast period. Additionally, based on application, the biomedical segment in the market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the noteworthy developments in gene therapy, drug discovery and the implementation of CRISPR and CAS gene technology in terms of cancer diagnosis, vaccine development, antibody production, and antiviral therapy.

Major Macro-Economic Indicators Impacting the Market Growth

Healthcare Expenditure

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global CRISPR and CAS Gene Technology Market Regional Synopsis

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the rising investments in CRISPR and CAS gene technology and increasing research collaborations between universities and biotech companies in the region. Along with this, Asia Pacific region has an increasing prevalence of chronic disorders, which is also expected to drive market growth in the region. Furthermore, the market in North America is evaluated to occupy the largest share over the forecast period, ascribing to the growing investment of governmental and non-governmental agencies in R&D activities regarding CRISPR and CAS gene technology, accompanied by the presence of leading pharma & biotech companies and their early adoption of CRISPR technology. Along with this, North America also leads in terms of ongoing clinical trials, which is also expected to contribute to the market growth in the region. Alternatively, the market in Europe is also anticipated to occupy a significant share in market on account of the increased research expenditure related to CRISPR technology. As per a report published by European Parliamentary Research Service in 2020, crops edited using CRISPR and CAS gene technology may become a part of a transition to a more sustainable form of agriculture.

Global CRISPR and CAS Gene Technology Market

The global CRISPR and CAS gene technology market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global CRISPR and CAS gene technology market includes the following segments:

By Products & Services

  • Products
    • Enzymes
    • Kits
    • Libraries
    • Others
  • Services
    • gRNA Design
    • Cell Line Engineering
    • Others

By Application

  • Biomedical
  • Agricultural
  • Industrial
  • Biological Research
  • Others

Growth Drivers

  • Rising Applications of CRISPR and CAS Gene Technology
  • Increasing Government and Private Funding for Medical Research

Challenges

  • Pending Patent Concerns & Outcomes of Clinical Trials Associated with the Technology

Key Players Dominating the Market

  • Thermo Fisher Scientific Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Origene Technologies
  • Addgene, Inc.
  • Merck KGaA
  • GenScript Biotech
  • Cellecta, Inc.
  • Caribou Bioscience, Inc.
  • Horizon Discovery Group
  • Mammoth Biosciences, Inc.
  • Inscripta, Inc.

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