The CRISPR and CAS Gene Market is set to revolutionize genetic editing with its unique capability to target specific genomic locations with high precision. CRISPR technology utilizes CRISPR-Cas9 nuclease derived from bacteria and archaea to precisely edit DNA sequences and modify gene function. It provides flexibility and ease of use compared to zinc finger nucleases and transcription activator-like effector nucleases (TALENs). CRISPR-Cas9 functions as a molecular scissors that can cut DNA at a desired location, allowing the insertion, deletion or modification of genes in the genome of living organisms. These benefits have led to widespread adoption of CRISPR in biotechnology and therapeutic applications.
The Global CRISPR and CAS Gene Market is estimated to be valued at US$ 1.78 Bn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2030.
Key Takeaways
Key players: Key players operating in the CRISPR and CAS Gene Market are Rescroft Ltd., USSC Group, Inc., Magna International, Inc., Rojac Urethane Limited, GRAMMER AG, TransCal, Freedman Seating Co., Delimajaya Group, Franz Kiel GmbH, iFoam Ltd., Compin-Fainsa, FlexoFoam Pvt. Ltd., FISA Srl, FENIX Group, LLC, and Kustom Seating Unlimited, Inc. and Others.
Rescroft Ltd. is a leading player facilitating genetic editing research. USSC Group, Inc. has made significant investments towards CRISPR-based therapies.
Growing demand: Increasing incidence of genetic disorders and rise in R&D funding for genomic research has augmented demand for CRISPR technology over the last few years.
Global expansion: Major players are focusing on expanding their footprint in developing regions through partnerships and acquisitions to tap into high growth opportunities.
Market key trends:
CRISPR and CAS Gene Market optimization is the key trend with researchers optimizing delivery techniques, gene drives, and engineering bacteria for improved efficiency and precision of the CRISPR-Cas9 system. Development of next-generation CRISPR technologies like base editing, prime editing and CRISPR interference will further expand applications and drive market growth.
Porter’s Analysis
Threat of new entrants: The threat is low as this an emerging market with huge demand and potential for growth, but the set up costs and requirements for R&D are high barriers to entry.
Bargaining power of buyers: The bargaining power is moderate as the applications in gene therapy and biotechnology give buyers some leverage, but proprietary IP rights limit full substitution between suppliers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as some key CRISPR components have alternate sources, but partnerships are important for pilot projects and realization of full market potential.
Threat of new substitutes: The threat is low as CRISPR/Cas9 has significant advantages over other gene editing methods and the technology continues advancing, deterring competing substitutes.
Competitive rivalry: Intense as the market is expanding and competition is increasing rivalry to develop safer and more efficient CRISPR applications and control more of the IP landscape.
Geographical Regions
In terms of value, North America accounted for the largest share of over 35% of the global CRISPR and CAS gene market in 2024 owing to largest research expenditures and active biotechnology industry in the US and Canada. However, the Asia Pacific region is expected to witness the fastest growth during the forecast period due to increasing investments in healthcare and biotechnology research along with setting up of research laboratories and facilities in China, Japan, South Korea and India.
The fastest growing region for the CRISPR and CAS gene market during the forecast period from 2024 to 2030 is expected to be Asia Pacific. This is owing to rising research & innovation budgets in countries like China and India coupled with increasing collaborations between local and global players. In addition, improving healthcare infrastructure and growing efforts to make healthcare more affordable will drive the adoption of gene therapies and create demand for genome editing tools like CRISPR/Cas9 in Asia Pacific.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
