COVID-19 Pandemic to Open New Avenues for Global CRISPR and Cas Genes Market Growth, Predicts Fact.MR
Published : 03 Jun 2020 Industry: Healthcare
As the COVID-19 pandemic tightens its grip on the world, healthcare providers and practitioners are racing against time to find reliable diagnosis and cures for the deadly disease. The pandemic has especially broadened the growth prospects of the global CRISPR and Cas genes market, projected to expand at a stellar 21.2% CAGR during the forecast period (2020-2026). Various clinical trials and research studies have proved that adoption of CRISPR-Cas testing yields more accuracy, with 95% positive predictive agreement and 100% negative predictive agreement. The test scores over the conventional RT-PCR tests, which are prone to massive fluctuations. CRISPR-based diagnostics have been gaining momentum since the past two years, and the ongoing pandemic is only adding further impetus to the market.
Besides the pandemic, potential technological breakthroughs in the field of genome editing are fueling the growth of the CRISPR and Cas genes market. The introduction of Cas-9, for instance, aims to accelerate treatment for various genetic disorders. Applications of CRISPR technology is expanding in other industrial sectors, such as crop production. Based on the abovementioned trends, prospects of the global CRISPR-Cas genes market appear bright. The market is poised to embark on a stellar growth trajectory throughout the forecast period.
Key Takeaways of Global CRISPR and Cas Genes Market Study:
- By product, the vector-based systems will remain dominant, accounting for 60% of the global CRISPR-Cas genes market value. However, DNA-free-Cas systems will catch up, expanding at a healthy CAGR of 21.7% through 2026. Possibility of finding correlations with other human diseases and wide application areas are anticipated to drive growth of both segments.
- By application, genomic engineering will remain a key application area of CRISPR-Cas techniques, accounting for more than 50% of the total revenue. Increased usage in research projects as well as enabling of programmable genetic, epigenetic and transcriptomic engineering will continue to offer tailwinds to the market growth.
- By end users, biotechnology and pharmaceutical companies will account for maximum usage of CRISPR-Cas gene techniques. Strategic partnerships with key innovators have contributed to increased market share. Adoption of CRISPR and Cas genes among these end users is poised to capture greater than two-fifths of the total market value.
- Regionally, North America will dominate the global CRISPR and Cas genes market, capturing nearly half of the total market share. Increased funding for research and technological enhancements in treatment procedures are anticipated to boost the regional market growth.
- Asia-Pacific is poised to catch up, expanding at a CAGR of 23.2% over the forecast period. Rise in prevalence of chronic diseases such as cancer is anticipated to heighten the regional market prospects.
“Rapid technological advancements in genome editing has brightened growth prospects of the global CRISPR and Cas genes market. Key manufacturers are capitalizing on this fact in order to broaden their market presence,” says the Fact.MR analyst.
Robust Product Portfolio to Enhance Key Players’ Market Prospects
Prominent manufacturers in the global CRISPR and Cas genes market have invested in building a robust product portfolio in order to establish a strong presence. The market is highly fragmented, characterized by the presence of a large number of companies. Out of those, some major companies are Thermo Fisher Scientific, Integrated DNA Technologies and Addgene. These companies have a strong international presence in the CRISPR Plasmids product portfolio. For instance, Addgene offers products such as SapTrap CRISPR, CRISPi-Kit Gasser and CRISPaint Kit- Hornung. Similarly, Thermo Fisher Scientific has a broad range of CRISPR-Cas products such as the CRISPR-Cas9 101, CRISPR Protein, CRISPR gRNA, Cas9 Lentivirus and CRISPR Plasmids.
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The research study on the global CRISPR and Cas genes market by Fact.MR incorporates an unbiased assessment of key factors and trends responsible for shaping the landscape of the global CRISPR and Cas genes market over the forecast period (2020-2026). It includes a detailed assessment of key parameters that are anticipated to exert influence during 2020-2026. Market statistics have been presented on the basis of product (vector-based CAS and DNA-free CAS), application (genomic engineering, disease models, functional genomics, knockdown/activation and others), and end user (biotechnological and pharmaceutical companies, academic & government research institutes, and contract research organizations) across five major regions.
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