The global CRISPR and CAS Gene Market Growth Accelerated by Gene Editing Advancements

 


The CRISPR and CAS gene editing technology offers precise, powerful and affordable genome editing capabilities by allowing researchers to easily alter DNA sequences and modify gene function. This breakthrough technology is being applied in diverse areas like treating and preventing the development of diseases, developing improved crops and livestock and industrial applications like biofuel production.

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 7.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Advancements in CRISPR-Cas Technology has been one of the key trends observed in the CRISPR and CAS Gene Market. Researchers are continuously exploring ways to improve the current CRISPR-Cas system and make it more efficient and precise. Efforts are being made to minimize off-target effects, whereby the DNA-editing enzyme can mistakenly cut DNA sequences that were not intended. New CAS nucleases and gene delivery methods are being developed to enhance the safety and specificity of genome editing. The employment of orthogonal Cas systems from different bacterial strains provides an opportunity to multiplex and finely tune gene drives with reduced risk of off-target mutations. Such advancements are expected to widen the scope of CRISPR applications and further drive the growth of the overall market during the forecast period.

Segment Analysis

The Global CRISPR And CAS Gene Market Size is dominated by the product sub-segment which accounted for around 55% share of the overall market in 2023. This is because CRISPR and CAS Gene are primarily being applied for developing therapeutic applications and products. The service sub-segment is also growing at a fast pace due to increasing demand for design and development of customized genome editing solutions from biotech and pharmaceutical companies.

Key Takeaways

The global CRISPR and CAS Gene market is expected to witness high growth over the forecast period from 2023 to 2030.

Regional analysis: North America dominated the global market in 2023 with around 45% market share owing to heavy investments in genomics and biotechnology research by government and private entities in the US and Canada. Asia Pacific is expected to be the fastest growing region during the forecast period due to rising government funding to develop novel therapeutics using CRISPR technology in countries like China and India.

Key players: Key players operating in the CRISPR and CAS Gene market are VeriChip Corporation, Biohax International AB, Dangerous Things LLC, Three Square Market, Kaspersky Lab, McAfee Corp., Symantec Corporation, ARM Holdings plc, NXP Semiconductors N.V., Texas Instruments Inc., STMicroelectronics N.V., BioTeq Limited, Chip In S.A., Tyco International Ltd., Xerox Corporation. VeriChip Corporation dominates the market due to its diverse product portfolio for human implantable radio frequency identification microchips.

Get More Insights On This Topic: https://www.newsstatix.com/crispr-and-cas-gene-market-size-share-analysis-2023-2030/

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