Global CRISPR Genomic Cure Market Is Estimated To
Witness High Growth Owing To Increasing Investments and Technological
Advancements



The global CRISPR Genomic Cure market is
estimated to be valued at US$ 1.84 billion in 2023 and is expected to exhibit a
CAGR of 34.7% over the forecast period 2023-2030, as highlighted in a new
report published by Coherent Market Insights.



Market Overview:

CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) is a
revolutionary gene-editing technology that allows scientists to alter an
organism's DNA. CRISPR genomic cure technology has the potential to
revolutionize healthcare by providing treatments for genetic disorders,
infectious diseases, and cancer.



The applications of CRISPR genomic cure technology are vast and include gene therapy,
genetic engineering, and precision medicine. The technology offers the
possibility of developing personalized treatments and therapies that are
tailored to an individual's genetic makeup.



Market Dynamics:

The CRISPR Genomic Cure market is driven by two major factors, namely
increasing investments and technological advancements.



1. Increasing Investments:

The rising investments in CRISPR Genomic Cure research and development are
driving the market growth. Many pharmaceutical and biotechnology companies are
investing heavily in CRISPR technology to develop innovative treatments and
therapies. For example, CRISPR Therapeutics AG received funding of US$ 455
million in its initial public offering to support the development of
CRISPR-based gene therapies.



2. Technological Advancements:

Advancements in CRISPR technology are expanding its applications and enhancing
its efficiency, which is further fueling the market growth. Improved CRISPR
tools and techniques are being developed to overcome the challenges associated
with off-target effects and delivery of CRISPR components. For instance, the
development of base editing and prime editing techniques has made precise
genetic modifications possible.



Segment Analysis:

The CRISPR Genomic Cure market can be segmented based on product type,
application, and end-user. In terms of product type, the market is dominated by
CRISPR enzymes and kits, as they are essential components for gene editing. In
the application segment, the gene therapy segment is expected to dominate the
market, owing to the increasing focus on developing gene-based therapies for
various genetic disorders and diseases.



PEST Analysis:

- Political: There are legal and ethical considerations surrounding the use of
CRISPR technology for gene editing in humans. Regulations and guidelines are
being established to ensure responsible usage.

- Economic: The CRISPR
Genomic Cure Market is witnessing significant investments from
governments, research institutions, and pharmaceutical companies, driving
economic growth.

- Social: The acceptance and adoption of CRISPR technology in healthcare are
increasing as people are becoming aware of its potential to cure genetic
diseases.

- Technological: Continuous advancements in CRISPR technology are improving its
efficiency and expanding its applications, driving market growth.



Key Takeaways:

- The global CRISPR Genomic Cure market is expected to witness high growth,
exhibiting a CAGR of 34.7% over the forecast period, due to increasing
investments and technological advancements in CRISPR technology.

- North America is expected to be the fastest-growing and dominating region in
the CRISPR Genomic Cure market, owing to the presence of major pharmaceutical
and biotechnology companies and supportive government initiatives.

- Key players operating in the global CRISPR Genomic Cure market include CRISPR
Therapeutics AG, Editas Medicine, Inc., Intellia Therapeutics, Inc., Sangamo
Therapeutics, Inc., Beam Therapeutics Inc., Caribou Biosciences, Inc., Mammoth
Biosciences, Precision Biosciences, Inc., Synthego Corporation, GenScript
Biotech Corporation, Horizon Discovery Group plc, Lonza Group Ltd., Takara Bio
Inc., Merck KGaA, and Thermo Fisher Scientific Inc. These players are actively
involved in research and development activities to enhance their product
offerings and gain a competitive edge in the market.