Market Overview:
The CRISPR and Cas Gene Market deals with technologies involved in gene editing using the Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) and CRISPR-associated proteins (Cas) tools. This technology enables editing of genes by altering, deleting, modifying or adding certain sequences to the genome. The CRISPR technology holds tremendous potential in the fields of disease therapeutics, agriculture, biotechnology research and industrial application owing to its high specificity and ease of use compared to other gene editing tools.
Market key trends:
One of the major trends driving the growth of CRISPR and Cas Gene Market is the increasing demand for precision medicine. Precision medicine makes use of an individual’s genetic profile to tailor diagnosis and treatment. With increasing investment in precision medicine, CRISPR is widely being explored for developing personalized treatment for various cancers and genetic disorders. CRISPR technology allows to target specific gene mutations responsible for disease and silence or correct them, which could open new avenues for developing customized therapies. Apart from therapeutics, CRISPR tools are also finding wide adoption in agricultural and industrial biotechnology for purposes like developing herbicide resistant and climate-resilient crops.
Porter’s Analysis
Threat of new entrants: The high capital requirements and intellectual property risks act as entry barriers for new companies. However, the improving technology and patent expiration of foundational CRISPR/Cas9 patents could allow for newer players to enter the market over time.
Bargaining power of buyers: Individual buyers have low bargaining power due to the specialized nature of the products. However, large pharmaceutical companies and research institutes wield significant bargaining power as bulk buyers.
Bargaining power of suppliers: A few global players dominate the supply markets for CRISPR enzymes, vectors, and cell lines. This concentrate supplier landscape gives them pricing power.
Threat of new substitutes: Though newer gene editing technologies are emerging, CRISPR/Cas9 holds advantages over earlier methods in terms of simplicity, flexibility, and efficiency. It faces limited threat of substitution in the short to medium term.
Competitive rivalry: Strong competition exists among the leaders to develop novel CRISPR applications and delivery systems.
SWOT Analysis
Strengths: CRISPR/Cas9 provides a simple, precise, and affordable gene editing solution. Growing adoption in research and pharmaceutical development adds to the sizable market potential.
Weaknesses: On-target effects, off-target effects, and delivery challenges need improvements. Ethical concerns surrounding human gene editing applications pose regulatory uncertainties.
Opportunities: Emerging therapeutic applications in cancer, cardiovascular, metabolic disorders present lucrative commercial opportunities. Agricultural biotech is another promising sector.
Threats: Stringent safety and efficacy regulations for clinical trials increase time and costs of translating research into approved therapies. IP disputes between key patent holders linger as a threat.
Key Takeaways
The Global Crispr And Cas Gene Market Size is expected to witness high growth at a CAGR of 22% over the forecast period, due to increasing R&D investments and clinical trials for gene therapy applications. By 2030, the market size is projected to reach $12.3 billion.
North America currently dominates the global CRISPR/Cas gene market owing to presence of leading research institutes and pharmaceutical companies in the US and Canada. However, Asia Pacific is emerging as the fastest growing regional market with China and Japan leveraging advances in genomics to strengthen their biotech sectors.
Key players operating in the Crispr and Cas gene market are Thermo Fisher Scientific Inc., Merck KGaA (Sigma-Aldrich), OriGene Technologies, Inc., New England Biolabs, Cellecta, Inc., Agilent Technologies, Inc., Applied StemCell, Inc., Synthego, Genscript, Mirus Bio LLC, Integrated DNA Technologies, Inc., and Mammoth Biosciences, Inc. Companies are undertaking strategic collaborations and acquisitions to gain access to novel gene editing platforms and applications.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
