CRISPR-CAS9 is the modern-day technology used for editing genes. During last few years, technology has grabbed attention and wide scope owing to increasing prevalence of different chronic and genetic diseases. According to the report by Global Genes there are more than 7000 rare genetic diseases being discovered each year. Gene editing are used in the production of genetically modified plants which has brought revolution in the agricultural field. Additionally, increase in the favorable government policies, increasing per capita healthcare expenditure and growing need for effective and better treatment options for chronic diseases have fuelled the market growth.
Moreover, high cost of the gene therapy treatment and lack of skilled professionals is the major hurdle for the market. Other factor restraining the market growth is the lack of well-developed healthcare facilities in the emerging regions.
The global CRISPR-CAS9 gene editing technologies market is expected to grow at a healthy CAGR of 14.6% during 2019-2026.
Geographically, the global CRISPR-CAS9 market is segmented into North America, Europe, Asia Pacific, and Latin America and Middle East & Africa.
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North America commands the major share in the global market owing to increasing prevalence of several chronic diseases and various hereditary diseases, high spending on research & development and presence of major players in region. For instance, In 2016, a human clinical experimental was started for the use of CRISPR to treat diseases in the U.S.
Europe holds the second leading position in the market due to the presence of strong government support and availability of funds for research.
Asia Pacific is the fastest growing market for CRISPR/Cas9 gene editing technologies. Growing incidences of late pregnancies leading to childbirth irregularity, drug discovery, genetic disorders, increasing investments in research technology, and leaning trend towards disease-free lifestyle are the key factors driving the market growth in the region.
Conversely, the Middle East & Africa holds the least share in the market due to limited availability of funds, and poor economy in Africa region. The key factors restricting the market growth are mistreatment of CRISPR Gene editing device, the poor healthcare infrastructure, limited availability of funds, and low expenditure in healthcare sector.
The global CRISPR-Cas9 gene editing technologies market is segmented on the basis of applications and end users.
Based on application, the global CRISPR-Cas9 gene editing technologies market is segmented into genome engineering, disease models, RNA editing, knockdown/activation, and others. Genetic engineering is sub-segmented into medicine, agriculture, research, and others. Disease models is further segregated into oncology, cardiology, CNS, infectious diseases, dermatology, metabolic & genetic diseases, and others.
In terms of end user, the global CRISPR-Cas9 gene editing technologies market is segmented into biotechnology & pharmaceutical companies, academic & government research institutes, and others. The biotechnology & pharmaceutical companies segment dominates the global CRISPR-Cas9 gene editing technologies market. Adoption of CRISPR-Cas9 technology by pharmaceutical & biotechnology companies through strategic partnerships with research & development facilities is driving the biotechnology & pharmaceutical companies segment. For instance, In 2017, CRISPR Therapeutics started a joint venture called Casebia Therapeutics LLP with Bayer Healthcare and its subsidiaries. Additionally, Academic & government research institutes is expected to be the fastest growing segment in global CRISPR-Cas9 gene editing technologies market.
The key players in the market are: Thermo Fisher Scientific (U.S.), Merck & Co., Inc. (U.S.), Abbott Laboratories (U.S.), Sangamo Therapeutics, Inc. (U.S.), Lonza (Switzerland), Genscript (U.S.), New England Biolabs (U.S.), CRISPR THERAPEUTICS (Switzerland), Integrated DNA Technologies, Inc. (U.S.), Mirus Bio LLC (U.S.), Takara Bio Inc. (Japan), and Bio-Rad Laboratories, Inc. (U.S.).
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