The CRISPR and CRISPR-Associated (Cas) genes market studied was projected to grow with a CAGR of nearly 26.8% over the forecast period. The major factor attributing to the growth of the market increasing the adoption of the CRISPR-Cas9 system in genome editing and other biotechnological areas. The CRISPR-Cas9 system has created a lot of enthusiasm in the scientific community because it is faster, cheaper, more accurate, and more efficient than other existing genome editing methods. Furthermore, the growing investments in research and development programs by the biotechnology companies and increasing research in plant genome editing programs are boosting the market growth. However, the off-target effects associated with the implementation of CRISPR is a major drawback for market growth.

Key Market Trends

Genome engineering Segment Holds the Largest Share in the Market

The largest share of the segment in the market growth is accredited to the increasing adoption of genome editing techniques for germline alterations and therapeutic development. CRISPR holds the ability to become an alternative biotechnology treatment for supplementing or substitute for the existing single-antibody drugs. Genome editing that is meant to switch on the immune response for targeting cancer is expected to drive industrial growth significantly. The variety of available Cas proteins and flexibility of guide RNA production makes this technique a powerful system for all applications of genome editing. Furthermore, the increasing fundings allocated for the biotechnology and genomics research and development programs are driving the growth of the market.

North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to dominate the overall CRISPR and CRISPR-Associated (Cas) genes market, throughout the forecast period. The market growth is due to the factors such as the presence of key players, increasing funding in biotechnology and genomics programs, established healthcare infrastructure, are some of the key factors accountable for its large share in the market. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase market growth. In this region the United States has the maximum share due to supportive healthcare policies, the high incidence of chronic diseases, and a developed healthcare market.

Competitive Landscape

The CRISPR and CRISPR-associated (Cas) genes market is moderately competitive and consists of several major players. Some of the market players are OriGene Technologies, Inc., Thermo Fisher Scientific, Takara Bio Inc, Horizon Discovery Ltd., Addgene, Merck KGaA, Caribou Biosciences, Inc., CRISPR THERAPEUTICS, Editas Medicine, Mirus Bio LLC.

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