The global CRISPR and Cas9 gene editing market size was valued at USD 1,621.2 million in 2018 and is anticipated to reach USD 4907.7 million by 2026, at a CAGR of 14.6% from 2019 to 2026.
Gene editing is the modern biotechnological technique designed to alter the genomes of living organisms for health or economic benefits. Nowadays, gene editing is not only used in the medical sector but also in the agricultural sector. CRISPR-Cas9 is a newly introduced and improved technology which effectively and specifically alter genes within organisms. CRISPR-Cas9 has found wide array of applications in biomedicine, disease modeling, RNA editing, and others. Constantly increasing demand for the technologically advanced products and technologies is the vital factor global CRISPR-Cas9 gene editing technologies market growth.
Increasing government funding for genomics projects and growing prevalence of hereditary diseases including Down Syndrome are the key driving factors for the global CRISPR-Cas9 gene editing technologies market. According to the World Health Organization (WHO), global prevalence rate of Down Syndrome is between 1 in 1000 to 1 in 1100. Moreover, as per the American Society of Hematology, every year more than 300,000 births suffer sickle cell disease. Rise in the application of genomics in medical field is the other factor which has positively influenced the global CRISPR-Cas9 gene editing technologies market. Gene editing and gene therapy is increasingly used in the sickle cell cure, cancer treatment, new skin building treatment, sight restoration, and hemophilia treatment.
Technological advancements regarding gene editing and increasing demand for genetically modified crops has fuelled the growth of the market. In March 2017, experimental gene therapy was used for the treatment of a patient suffering from sickle cell disease. The therapy resulted into astonishing development of normal red blood cells in the patient’s body.
However, gene editing and research is a brainstorming process and requires skilled professionals. Thus, lack of skilled professionals in the field of gene therapy is the key restraining factor for the market. Additionally, high cost of research and longer approval time for the technologies may hamper the market growth.
The global CRISPR-Cas9 gene editing technologies market is segmented on the basis of applications and end users.
Based on application, the global market is segmented into genome engineering, disease models, RNA editing, knockdown/activation, and others. Genetic engineering is further segmented into medicine, agriculture, research, and others. Disease models is sub-segmented into oncology, cardiology, CNS, infectious diseases, dermatology, metabolic & genetic diseases, and others.
In terms of end users, the global market is segmented into biotechnology & pharmaceutical companies, academic & government research institutes, and others.
The global CRISPR-Cas9 gene editing technologies market is segmented into America, Europe, Asia Pacific, and the Middle East & Africa.
North America dominates the global market. Well-developed technology, favorable government policies and increasing demand for new and advanced medical technologies for treatment of several chronic diseases are some of the key factors driving the market growth in the region. According to the American Cancer Society, over 1.7 million new cases of cancer were diagnosed with cancer in 2018 in the U.S. Increase in the prevalence of chronic disease in the region is the other factor fueling the market growth. As per the Leukemia & Lymphoma Society of Canada (LLSC), over 138,100 people in Canada suffered from blood cancer in 2016.
Europe accounts for significant share of the global market due to technological advancements regarding gene editing technologies and high adoption of the gene therapy technologies in the region. Gene therapy is highly adopted in the U.K as the number of people suffering from diseases which can be cured by gene editing is high. According to the Royal National Institute of Blind People, more than 350,000 people in the U.K were registered as blind or partially sighted. Adding that, this number is expected to rise to 4.1 million by 2050. Availability of the funds for research and development of the technologies and presence of the key players in the region are the other factors which are supporting the CRISPR-Cas9 gene editing technologies market.
Asia Pacific is the fastest growing market owing to presence of huge opportunity for the development of the market. Additionally, presence of rapidly growing economy has fuelled the market growth in this region.
On the other hand, the Middle East & Africa holds the least share in the market. Middle East holds the major share due to well-developed technology and high spending on research.
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