Prime Editing and CRISPR Market 2021

Industry Size, Regions, Emerging Trends, Growth Insights, Opportunities, and Forecast By 2027

Prime Editing and CRISPR Market by Service (Genome Regulation, Gene Editing, Cell Line Engineering, and Gene-Modified Cell), by End-users (Academic Institutes Biotechnology & Pharma Companies), by Application, by Region – Global Forecast to 2027

Region: Global | Format: Word, PPT, Excel | Report Status: Published

Description

The global prime editing and CRISPR market size was valued at USD 2,694.2 million in 2020 and is estimated to reach USD 12,648.4 million by 2027, growing at a CAGR of 24.3% from 2021 to 2027. Clustered Regularly Interspaced Short Palindromic Repeats technology is a genetic tool used for editing of genome. Prime editing is considered the developed version of CRISPR/Cas9 genome editing technology. It is a genome editing technology that uses the fusion protein of Cas9-nickase and reverses transcriptase to treat genetic defects. It is a new molecular device capable of removing and cutting base pairs and adding long segments of DNA without breaking strands of the helix. Prime editing and CRISPR are used as molecular scissors to develop new therapies to treat chronic and genetic diseases. This technology helps treat rare genetic diseases such as sickle cell anemia, cystic fibrosis, correction in a point mutation, and chronic diseases such as lung cancer.

The prime editing and CRISPR market are driven by an alarming increase in the prevalence of genomic and chronic diseases such as cystic fibrosis, lung cancer, and sickle cell anemia; advancements in R&D of genes, surge in demand for genetically mutated crops; a rise in government funds for genomic projects; and rise in awareness regarding genetic engineering. As per the World Health Organization (WHO), in 2020, approximately 10 million people will die due to various types of cancer. As per data published by a Cystic fibrosis foundation, in 2019, 70,000 people were diagnosed with cystic fibrosis. More than 1000 new cases of cystic fibrosis are reported each year. Moreover, the surge in demand for genetic engineering in biomedical research and gene editing drives the market's growth.

Thus, the increase in the prevalence of genetic-based disease and the surge in demand for gene manipulation are the factors expected to propel the market's growth. The rise in funding from private & government organizations to genomic projects and the increase in application in genetically mutated crops are the major factors driving the global prime editing and CRISPR market growth. Moreover, a surge in incidences of diseases such as cancer significantly contributes to market growth because gene insertion and deletion technique is used to treat several chronic diseases. The rise in genomic research activities is a key driving force of the global market. Additionally, governments are taking multiple initiatives to support regenerative medical research, which is expected to boost market growth.

COVID-19 Impact on the Global Prime Editing and CRISPR Market

The COVID-19 outbreak is anticipated to positively impact the growth of the global prime editing and CRISPR market. The COVID-19 pandemic has stressed the health care system in the world and increased the need for a vaccine and monoclonal antibodies for the prevention and treatment of patients suffering from the coronavirus. A huge number of researches were conducted on the DNA and RNA of the coronavirus to understand how it enters human cells and learn about its pathogenesis. Genetic engineering could make the COVID-19 vaccine in months rather than years.

For instance, in March 2021, researchers in the Medical College of Georgia in the U.S. developed prime editing technology, which effectively edited genes in mice and expanded the genetic toolbox for creating disease models. In addition, in June 2020, scientists at Stanford University in California launched the PAC-MAN tool. This genetic editing tool targets and destroys specific genetic strands of the virus in human cells. Subsequently, this increases demand for gene editing in many biotechnology & pharma companies, universities, and laboratories.

Global Prime Editing and CRISPR Market Dynamics

DriversAdvancements in R&D in genetic engineering

Recent developments made in the field of genomic high-throughput platforms for DNA in genetic engineering and regulation analysis have paved the way for innovative potential therapies. With advancements in technology, scientists have developed new and more efficient techniques for genome editing, such as prime editing and CRISPR technology. For instance, in March 2021, researchers in the Medical College of Georgia in the U.S. announced that prime editing technology expanded the genetic toolbox for developing disease animal models and correcting genetic problems. Moreover, according to the American Association of the Advancement of Science (AAAS), in 2020, researcher Jennifer Doudna used CRISPR gene-editing technology to detect the coronavirus in 5 minutes.

Recent developments made in the field of genomic high-throughput platforms for DNA in genetic engineering and regulation analysis have paved the way in innovating novel potential therapies. With advancements in technology, scientists have developed new and more efficient techniques for genome editing, such as prime editing and CRISPR technology. For instance, in March 2021, researchers in the Medical College of Georgia in the U.S. announced that prime editing technology expanded the genetic toolbox for developing disease animal models and correcting genetic problems. Moreover, according to the American Association of the Advancement of Science (AAAS), in 2020, researcher Jennifer Doudna used CRISPR gene-editing technology to detect coronavirus in 5 minutes.

RestraintsLegal and ethical issues

Multiple ethical issues are associated with many aspects of gene editing. Most ethical issues are related to genome editing centers in the human germline. Gene editing in human germline passed from one generation to another. In addition, National Human Genome Research Institute (NIH) in Maryland also does not fund a project which uses gene editing for human embryos. Moreover, owing to legal and ethical issues, informed consent and ownership must be procured from the family. Thus, all these factors together restrain the market growth.

OpportunitiesIncrease in R&D by major key players and decrease in the cost of genomic sequencing

The gene-editing industry registers the highest growth in the healthcare sector. This is attributed to people worldwide seeking innovative options to treat chronic diseases and find alternatives to traditional medicine. Furthermore, the global demand for gene editing products is expected to offer remunerative opportunities for expanding the global market. Gene modification applications are developed with continuous new research and findings. Human genetic engineering has high potential in dealing with chronic and genetic diseases such as congenital blindness, sickle cell anemia, lung cancers, and cystic fibrosis. For instance, in 2021, Novartis, one of the leading pharmaceutical companies, announced CAR-T cell therapy to treat patients with blood cancer. CAR-T therapy is cutting-edge immunotherapy that modifies patients' T cells to detect and kill cancerous cells.

Scope of the Prime Editing and CRISPR Market Report

The study categorizes the prime editing and CRISPR market based on component, waste type, method, and application at the regional and global levels.

By Service Outlook (Sales, USD Million, 2017-2027)

  • Cell Line Engineering
  • Genome Regulation
  • Gene Editing
  • Gene-Modified Cell Therapy

By End-users Outlook (Sales, USD Million, 2017-2027)

  • Academic Institutes
    1. Biomedical Research and Therapy
    2. Agricultural Research
    3. Others
  • Biotechnology & Pharma Companies
    1. Biomedical Research and Therapy
    2. Agricultural Research
    3. Others
  • Contract Research Organization
    1. Biomedical Research and Therapy
    2. Agricultural Research
    3. Others

By Application Outlook (Sales, USD Million, 2017-2027)

  • Biomedical Research and Therapy
  • Agricultural Research
  • Others

By Region Outlook (Sales, USD Million, 2017-2027)

  • North America (US, Canada, Mexico)
  • South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
  • The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

The gene-editing segment is projected to account for the largest market share by service

Based on service, the global prime editing and CRISPR market is classified into cell line engineering, gene editing, genome regulation, and gene-modified cell therapyThe gene-editing segment had dominated the market in 2020. It was expected to continue this trend throughout the forecast period, owing to an increase in demand for gene editing in the targeted drug discovery process and advancements in research for genomic diseases. Gene edition, also known as genome editing, is how DNA is deleted, inserted, replaced, or modified in the genome of living organisms. It is a type of genetic engineering in which a group of technologies and scientists change an organism's DNA, such as bacteria, plants, and animals. Gene editing involves editing DNA, which causes changes in physical traits such as disease risk and eye color.

An increase in the prevalence of chronic diseases, a surge in demand for regenerative medicine, growth in genome editing technology, and advancements in R&D propel the market's growth. The gene-editing segment dominated the market in 2020 and is expected to continue this trend throughout the forecast period. This is due to increased demand for gene editing in the targeted drug discovery process and advancements in research for genomic diseases.

Asia Pacific accounts for the highest CAGR during the forecast period 

By region, the prime editing and CRISPR market is analyzed across North America, Asia-Pacific, Europe, South America, and the Middle East & AfricaWorldwide, Asia Pacific is projected to hold the highest CAGR of 28.1% in the global prime editing and CRISPR market during the forecast periodAsia-Pacific includes Japan, China, India, Australia, South Korea, and the Rest of Asia-Pacific. These countries offer lucrative opportunities for players operating in the prime editing and CRISPR market.

The rise in prevalence of chronic diseases, rise in geriatric population, increase in demand for novel drugs in India, China, and Japan, and rise in the number of laboratories for research are the key factors responsible for the market's growth. For instance, according to the United Nations Population Fund (UNFPA), the geriatric population in Asia-Pacific is anticipated to increase threefold, reaching 1.3 billion by 2050. The geriatric population is more prone to developing the chronic disease due to less genomic stability and decreased immune cell function, supporting regional growth. According to the World Health Organization (WHO), in 2020, 1,028,658 population in Japan was reported to be diagnosed with cancer. The government of India targets to increase the spending in the healthcare division by 3% of its gross domestic products (GDP) by 2022.

Key Prime Editing and CRISPR Market Players

Every company follows its business strategy to attain the maximum market shareSome of the major companies that operate in the global prime editing and CRISPR market are CRISPR Therapeutics, GenScript Biotech, Beam Therapeutics, Horizon Discovery, Intellia Therapeutics Inc., Inscripta, Precision Bioscience, Sangoma Therapeutics, Integrated DNA Technologies (IDT), and Synthego Corporation.

Recent Developments

  • In June 2020, Magenta Therapeutics and Beam Therapeutics announced non-exclusive research and clinical collaboration agreement to evaluate the potential utility of MGTA-117, Magenta’s novel targeted ADC for conditioning patients with sickle cell disease and beta-thalassemia receiving Beam’s base editing therapies.
  • In June 2021, CRISPR Therapeutics and Capsida announced a strategic collaboration to develop gene-edited therapies for Friedreich Ataxia and Amyotrophic lateral sclerosis.
  • In March 2021, GenScrpt and ERS Genomics signed an agreement to access the ERS Genomics CRISPR/Cas9 patient portfolio.
  • In March 2021, Horizon Discovery launched a new family of CRISPR modulation reagents for CRISPR interference, enabling scientists to understand the pathology of the disease.

Key Issues Addressed

  • What is the market size by various segmentation of the prime editing and CRISPR by region and its respective countries?
  • What are the customer buying behavior, key takeaways, and Porter's five forces of the prime editing and CRISPR market?
  • What are the key opportunities and trends for manufacturers involved in the prime editing and CRISPR supply chain?
  • What are the market's fundamental dynamics (drivers, restraints, opportunities, and challenges)?
  • How are regulations, schemes, patents, and policies impacting the market's growth?
  • What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
  • The market player positioning, top winning strategies by years, company product developments, and launches will be?
  • How has COVID-19 impacted the global market's demand and sales of prime editing and CRISPR? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
  • Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25leading and prominent companies in the market.
What is the size of the global prime editing and CRISPR market? The global prime editing and CRISPR market in the 2020 market was USD 2,694.2 million and is estimated to be USD 12,648.4 million by 2027. What is the prime editing and CRISPR market growth? The global prime editing and CRISPR market is expected to register a compound annual growth rate of 24.3% from 2021 to 2027. Which service segment dominated the global prime editing and CRISPR market? The gene-editing segment had dominated the market in 2020. Which region accounted for the largest prime editing and CRISPR market share? In 2020, North America was the highest contributor to the market. Who are the major players in the prime editing and CRISPR market? CRISPR Therapeutics, GenScript Biotech, Horizon Discovery, Beam Therapeutics, Integrated DNA Technologies, and Intellia Therapeutics Inc are some of the major companies in the market of prime editing and CRISPR. What factors drive the prime editing and CRISPR market? Key factors driving the prime editing and CRISPR market growth include advancements in R&D in genetic engineering, increased demand for genetically modified crops, a surge in prevalence of chronic and genetic diseases.

Frequently Asked Questions

  • Key Issues Addressed
  • What is the market size and growth rate for different segmentations at a global, regional, & country level?
  • What is the customer buying behavior, key takeaways, and Porter's 5 forces of the market?
  • What are the key opportunities and trends for manufacturers involved in the supply chain?
  • What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
  • What and how regulations, schemes, patents, and policies are impacting the growth of the market?
  • How will existing companies adapt to the new change in technology?
  • The market player positioning, top winning strategies by years, company product developments, and launches will be?
  • How has COVID-19 impacted the demand and sales of in the market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
  • Who are the leading companies operating in the market? Also, who are the prominent startups that disrupt the market in coming years?
  • PUBLISHED ON: Dec, 2022
  • BASE YEAR: 2022
  • STUDY PERIOD: 2019-2033
  • COMPANIES COVERED: 15
  • COUNTRIES COVERED: 24
  • NO OF PAGES: 169

Want to Review Complete Market Research Report

 
save 20%
$2450 $1950
 
save 25%
$4450 $3338
 
save 30%
$5850 $4095
 
save 35%
$8150 $5298

Budget constraints? Get in touch with us for special pricing

Request for Special Pricing

Customize this Report

  • Buy specific region or segment sections of this report
  • Buy specific region/country level reports
  • Request for Pricing Analysis, Market Dynamics, Recommendation & Conclusion
  • Companies Profiles based on Target Requirement
  • Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
  • Why Choose Market Statsville Group?
  • CXO’s Perspective
  • Real-Time Market AttractivenessIndex
  • Investment Pockets
  • Market Player Positioning
  • Competitive Heatmap
  • Parent &Peer Market Analysis
  • Primary Survey Analysis & Transcripts
  • Premium insights from industry experts
  • Robust Research Methodology
  • Market Trends & Opportunities
  • Market Growth Dynamics
  • Value/Supply Chain Analysis
  • Pre-&-Post Covid Market Scenario
  • Latest Technological Developments
  • Comprehensive Reports
  • 3-Rounds Quality Checks with Complete Assurance
  • Unlimited Post-Sales Support
  • Regular Report Updates
Didn't Get What you are looking for. Share your requirements here
Request for Customization

We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. I Accept