CRISPR And CAS Gene Technology Market expected to reach to USD 32 Billion, the end of 2035 by growing at a CAGR of 30% during the forecast period i.e., 2023-2035. In the year 2022, the industry size of CRISPR and CAS gene technology was USD 2 Billion. The growth of the market can be attributed to the increasing applications in biotechnology, agriculture, the food industry, medicine, and gene technology. Genetic engineering is the most popular segment that is used in the production of therapeutic proteins and drugs. The increasing advancements in the research of biotechnology enhance the applications in human health directly or indirectly and are estimated to drive market growth. The biotechnology sector in India was estimated to cross over USD 80.12 billion with a growth rate of 14% as per the data of Invest India in 2022.
In addition to these, rising investment opportunities in the biotechnology sector for the production of diagnostics, therapeutics, and vaccines are expected to have a positive impact on market growth across the world. The increasing government initiatives and investments in the discovery of biosimilars to reduce the cost of the healthcare sector in low and middle-income countries are also propelling market growth in the coming years. As per the observations in 2022, biosimilars in the U.S. are projected to reduce drug expenditure by USD 130 billion by 2025. Biosimilars are complex molecules that are manufactured in living cells that are highly similar to the reference product with less variation.
Growth Drivers
The increasing number of diseases such as HIV, sickle cell disease, transthyretin amyloidosis, and other disorders that affect the immune system and genes of the body is estimated to drive market growth. The increasing use of genetic engineering techniques to modify defective genes is propelling market growth during the forecast period.
As per the Centers for Disease Control and Prevention, in 2020 about 30,635 people in the U.S. were diagnosed with HIV.
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~30% |
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Base Year Market Size (2022) |
~ USD 2 Billion |
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Forecast Year Market Size (2035) |
~ USD 32 Billion |
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Regional Scope |
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Application (Biomedical, Agricultural, Industrial, Biological Research)
The market is also segmented and analyzed for demand and supply by application into biomedical, agricultural, industrial, biological research, and others. Amongst these segments, the biomedical segment is expected to garner a significant share of around ~32% in the year 2035. The CRISPR/dCas9 systems are used in the biological and biomedical fields for gene therapy, genome screening, genome editing, live-cell imaging, and cancer study. The increasing use in the detection of the presence of viral infections such as Zika virus, dengue virus, influenza A H7H9, and hepatitis is estimated to drive the market segment growth during the forecast period as per the market analysis. The Zika virus transmitted to more than 40,000 persons in 2022 during epidemiological weeks 1 and 2 in regions of America that included 15 of 52 countries and territories.
The global CRISPR and CAS gene technology market is segmented and analyzed for demand and supply by application into biomedical, agricultural, industrial, biological research, and others. Out of these segments, the agricultural segment is estimated to gain the largest market share of about ~23% in the year 2035. The growth of the segment can be attributed to the increasing applications in agriculture to improve quantity and quality of yield. The growing demand for pest-resistant and climate-adaptable crops to prevent food scarcity in low-income countries is estimated to drive the market segment growth. The use of CRISPR and CAS gene technology in agricultural crops helps to enhance the plant yield and increase the resistance to diseases, and herbicides, and accelerate domestication. The increasing gene manipulation of plants to create a plant with beneficial traits and develop a novel and more sustainable crop plant for agricultural systems.
Our in-depth analysis of the global market includes the following segments:
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By Products & Services |
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By Application |
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North American Market Forecast
The market share of CRISPR and CAS gene technology in North America, amongst the market in all the other regions, is projected to be the largest with a share of about ~37% by the end of 2035. The growth of the market can be attributed majorly to the increasing 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. The increasing number of key players in the region investing the gene technology to improve biosimilars and biomedical drugs is estimated to hike the market growth. Many new biosimilars are developed in the U.S. for existing drugs. For instance, in 2019 Mvasi made by Amgen, and in 2020 Zirabev made by Pfizer are biosimilars approved by U.S. Food and Drug Administration for Avastin which is a Genetech product. Similarly, the Lantus of Sanofi has Semglee and Basaglar which are biosimilars from Viatris and Eli Lily companies developed in 2020.
APAC Market Statistics
The Asia Pacific CRISPR and CAS gene technology market is estimated to be the second largest, registering a share of about ~24% by the end of 2035. The growth of the market can be attributed majorly 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, the Asia Pacific region has an increasing prevalence of chronic disorders, which is also expected to drive market growth in the region. The growing importance of agriculture owing to the rising population in the region is projected to increase the growth opportunities of the market in the region. The presence of gene mutations in people working in mining and chemical industries as well as pharmaceuticals for a longer time is estimated to drive market growth. The increasing need for healthcare expenditure in the region with the rising prevalence of many genetic disorders owing to a lack of awareness of people is propelling the market growth.
Europe Market Forecast
Further, the market in Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to 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. Rising investments in gene editing-based research and development with the introduction of several applications are estimated to propel the market growth in the coming years. The rising concern by medical professionals in the region to prevent the spread of chronic illnesses that cannot be cured with medical treatment is estimated to propel the growth of the CRISPR and CAS gene technology market. The rising demand for cell line engineering services with increasing government investments to rise the healthcare of the people in the region is fueling the market growth.
Author Credits: Radhika Gupta, Shivam Bhutani
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