CRISPR And CRISPR-associated (Cas) Genes Market Size

CRISPR And CRISPR-associated (Cas) Genes Market Analysis

The CRISPR and CRISPR-associated (Cas) genes market is expected to register a CAGR of 15.67% over the forecast period.

• The COVID-19 pandemic had a significant impact on the market due to an increase in demand for COVID-19 diagnostic tests since the CRISPR-Cas-based methods diagnose the SARS-CoV-2 infections within an hour. As per the April 2022 update from Duke Health, a study conducted by the researchers demonstrated that CRISPR technology represents a unique strategy for controlling SARS-CoV-2 infection and should be pursued as a potential approach for treating COVID.
• The CRISPR/Cas13 delivered intravenously through a lipid nanoparticle diminished CTSL in the animals' lungs, effectively and safely blocking the SARS-CoV-2 virus from entering cells and infecting the host. Thus, studies such as these are expected to have a positive effect on the market for CRISPR and CRISPR-associated (Cas) Genes. Since the restrictions of COVID-19 is relaxed, the market is anticipated to witness growth in the coming years due to the increase in research activities involving CRISPR and CRISPR-associated (Cas) Genes.
• Factors attributing to the growth of the market include increasing investment by biotechnology companies for novel therapeutics, a rise in genomics research and development activities, and a high burden of cancer and other diseases. For instance, in January 2021, Pfizer Inc. invested a total of USD 120 million in four clinical-stage biotech companies as part of the Pfizer Breakthrough Growth Initiative (PBGI). Through PBGI, Pfizer invested up to USD 500 million in biotechnology companies, providing funding and access to Pfizer's scientific expertise to help ensure the continuity of promising clinical development programs of potential future strategic interest to Pfizer. Hence, such investment by the key players is expected to increase the development of CRISPR and CRISPR-associated (Cas) genes and thereby drive market growth over the forecast period.
• Furthermore, the rise in genomics research and development activities that demonstrate the efficiency of CRISPR technologies is likely to boost market growth over the forecast period. For instance, in May 2022, Vertex and CRISPR Therapeutics presented new clinical data on investigational CRISPR/Cas9 Gene-Editing Therapy CTX001 for severe hemoglobinopathies at the annual European Hematology Association Virtual Congress. CTX001 is being investigated in two ongoing clinical trials as a potential one-time curative therapy for patients suffering from TDT and severe SCD.
• Moreover, a high burden of cancer and other diseases is boosting market growth since CRISPR technology has been found to help identify the mutations in several cancers. For instance, as per the American Cancer Society, the estimated number of people diagnosed with cancer in 2022 was 1.9 million in the United States.
• Additionally, in the article published in November 2022 in Nature Journal, researchers can use CRISPR gene editing to change immune cells so that they will recognize altered proteins unique to a person's tumors. Then, those cells can be safely released into the body to locate and eliminate their target. Hence, such personalized treatment options provided by the CRISPR technologies for chronic disease like cancer is expected to drive the market growth over the forecast period.
• Hence, due to the rising investment by biotechnology companies for novel therapeutics and the increase in genomics research and development activities, the market studied is anticipated to witness growth over the forecast period. However, off-target effects associated with the implementation of CRISPR and high cost and ethical concerns associated with CRISPR technology are expected to restrain the market growth over the forecast period.