The CRISPR and Cas gene market is anticipated to grow from US$ 2.78 billion in 2022 to US$ 15.10 billion by 2030; it is estimated to register a CAGR of 23.6% during 2022-2030.

Market growth is attributed to the increasing prevalence of cancer and genetic diseases, and the burgeoning adoption of CRISPR-based screens with improved genomic targets. Increasing investments by biotechnology companies for novel therapeutics are likely to provide growth opportunities for the CRISPR and Cas gene market. However, off-target effects and ethical concerns associated with CRISPR technology hinder the growth of the CRISPR and Cas gene market.

The CRISPR technology is useful in identifying mutations in many tumors. They recognize modified proteins that are specific to human tumors. The technology can safely be utilized to find their targets for elimination. Therefore, personalized treatments enabled by CRISPR technology for chronic diseases such as cancer drive the CRISPR and Cas gene market growth. In addition, factors such as investments by biotech companies in new treatments, increased genomic research and development, and the rising burden of cancer, bloodborne diseases, and so on are facilitating the expansion of the market. In addition, increasing research funding for genomic studies and efforts made to demonstrate the effectiveness of CRISPR in genomics are expected to bring new CRISPR and Cas gene market trends in the coming years. However, the use of CRISPR in drug development and therapeutic procedures is limited by its possibility of going off target.

North America accounted for a major share of the global CRISPR and Cas gene market in 2022. The North America CRISPR and Cas gene market is segmented into the US, Canada, and Mexico. The market growth in this region is driven by flourishing research and development operations in the biopharmaceuticals industry, as well as the involvement of several pharmaceutical companies in the development of novel therapeutics. In May 2020, Merck KGaA received approval from the US Food and Drug Administration (FDA) for two CRISPR Cas9-driven gene editing patents. In addition, various federal initiatives in the US and Canada support agricultural biotechnology research and the commercial release of CRISPR-based plant products. Many pharmaceutical and seed companies have invested in growth strategies such as partnerships, acquisitions, and collaborations to advance the pharmaceutical market and crop growth, which would further bolster the demand for CRISPR technology in these industries.

Increasing investments by Biotechnology Companies for Novel Therapeutics Fuels the CRISPR and Cas Gene Market Growth

Companies, and academic and research institutes are developing new therapies using genome engineering techniques. Many researchers have received funding to develop and establish genome engineering research. For example, in December 2022, an assistant professor of biomedical engineering and computer science received US$ 1.9 million in awards from the National Institutes of Health for genome sequencing research. The researcher also received US$ 120,000 from Complete Genomics, a company focused on sequencing the human genome. In January 2021, Pfizer Inc. invested US$ 120 million in 4 clinical-stage biotech companies as part of the Pfizer Breakthrough Growth Initiative (PBGI). Through PBGI, Pfizer invested up to US$ 500 million in biotechnology companies, thereby providing them access to Pfizer's scientific expertise, in addition to the financial support, to ensure the continuity of promising clinical development programs that may be of strategic interest to Pfizer. Such investments are expected to propel the CRISPR and Cas gene market growth in the coming years.

Product Type -Based Insights

Based on product, the CRISPR and Cas gene market is divided into products and services. The products segment held a larger market share in 2022. The same segment is expected to register a higher CAGR of 23.9% during the forecast period.

Application -Based Insights

Based on application, the CRISPR and Cas gene market is segmented into biomedical and agriculture. The biomedical segment held a larger market share in 2022. The same segment is anticipated to register a higher CAGR of 23.8% during the forecast period. CRISPR gene editing technologies are being used in different areas of life sciences. Well-established delivery methods and nanocarrier usage have further improved the effectiveness and specificity of this technology. Various studies have been conducted to explain the use of this method to modify human somatic cell and pluripotent stem cell genomes. Some companies also offer commercial kits and services to assist researchers through the use of CRISPR gene editing techniques.

Improving agricultural production through innovative breeding technologies has resulted in better access to nutrient-dense foods worldwide. In June 2019, researchers at Cold Spring Harbor Laboratory implemented CRISPR/Cas9 technology for inducing mutations in the flowering suppressor of tomatoes, resulting in rapid flowering, and improved compact growth of tomatoes, ultimately, leading to early yield.

End User -Based Insights

Based on the end user, the CRISPR and Cas gene market is segmented into biotechnology and pharmaceutical companies, academics and government research institutes, and contract research organizations (CROs) and CDMOs. The biotechnology and pharmaceutical companies segment held the largest CRISPR and Cas gene market share in 2022. It is anticipated to register the highest CAGR of 24.2% during the forecast period.

Leading players are implementing strategies such as expansion, partnership, launch of new products, and acquisition of a new customer base for tapping prevailing business opportunities.

- In June 2021, QIAGEN-a provider of sample and testing technologies for molecular diagnostics, applied testing, and academic and pharmaceutical research-announced the launch of the QIAprep& CRISPR kit and CRISPR Q-Primer Solutions, which will help researchers analyze edited genetic material.

- In March 2021, Integrated DNA Technologies (IDT), a comprehensive genomics solutions provider, launched the rhAmpSeq CRISPR analysis system, an end-to-end solution to characterize and quantify the full spectrum of on- and off-target genome editing outcomes.

- In December 2020, Intellia Therapeutics, Inc. released preclinical data for NTLA-5001, the company's wholly owned Wilms tumor 1-targeted T-cell therapy candidate for treating acute myeloid leukemia.

- In August 2020, Editas Medicine reclaimed the full ownership of a series of CRISPR-based gene editing investigational drugs from AbbVie Inc. for the treatment of eye diseases.

- In May 2020, Sherlock Biosciences received the FDA's Emergency Use Authorization for its Sherlock CRISPR SARS-CoV-2 kit, designed to identify the virus causing COVID-19.

The US Food and Drug Administration, Centers for Disease Control and Prevention (CDC), and Global Burden of Disease Study are among the primary and secondary sources referred to while preparing the CRISPR and Cas gene market report.