Prime Editing and CRISPR Market worth USD 12,648.4 million by 2027

The Market Statsville Group (MSG) publishes the new report on the "Prime Editing and CRISPR Market by Service (Genome Regulation, Gene Editing, Cell Line Engineering, and Gene-Modified Cell Therapy), by End-users (Academic Institutes (Biomedical Research and Therapy, Agricultural Research, and Others), Biotechnology & Pharma Companies (Biomedical Research and Therapy, Agricultural Research, and Others), and Contract Research Organization (Biomedical Research and Therapy, Agricultural Research, and Others)), by Application (Biomedical Research and Therapy, Agricultural Research, and Others), by Region – Global Share and Forecast to 2027". The global prime editing and CRISPR market is expected to grow at a CAGR of 24.3% during the forecast period; in 2020 market was USD 2,694.2 million and is estimated to be USD 12,648.4 million by 2027. Gene editing is used to treat chronic and genetic diseases such as sickle cell anemia, cystic fibrosis, and lung cancer. It is the latest gene-editing technology. As the Centers for Disease Control and Prevention (CDC) estimates, sickle cell disease (SCD) affects around 100,000 Americans annually, which is anticipated to boost demand for gene editing.

Furthermore, according to the CDC, one in 5,000 males in the U.S was affected by Hemophilia. According to Integrated DNA Technology (IDT), in April 2021, it was reported that prime editing and CRISPR were used to target liver cancer cells and intestinal stem cell organoids for recovery of a patient suffering from disease-causing mutations. Moreover, gene editing can install correct pathogenic mutation, which helps in treating Tay-Sachs disease and sickle cell disease, and is effective and safe.

Global Prime Editing and CRISPR Market Segmentation

The overall prime editing and CRISPR market has been segmented into the service, end-users, application, and region.

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
  • Biomedical Research and Therapy
  • Agricultural Research
  • Others
• Biotechnology & Pharma Companies
  • Biomedical Research and Therapy
  • Agricultural Research
  • Others
• Contract Research Organization
  • Biomedical Research and Therapy
  • Agricultural Research
  • 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)

Biotechnology & pharma, by end-users, is estimated to hold the largest market share during the forecast period

Based on end-users, the global prime editing and CRISPR market is classified into Academic institutions, contract research organizations, and biotechnology & pharma companies. The biotechnology & pharma companies segment dominated the market with 64% of share in 2020 and is estimated to continue this trend throughout the forecast period, owing to an increase in the prevalence of genetic and chronic diseases, surge in demand for monoclonal vaccines, antibodies, and use of innovative technologies in genetic engineering.

An increase in the prevalence of chronic and genetic diseases, advancements in R&D in molecular genetics, and a rise in the number of clinical and preclinical trials are the key factors that boost the market's growth. America’s Biopharmaceutical companies have 362 cell and gene therapies in the development stage, which highlights the increase in the rate of R&D in this field. According to the Food and Drug Administration (FDA), by 2020, there will be more than 200 applications a year requesting permission to begin cell and gene therapy trials. Moreover, in 2020, Samsung Biologics, a biotechnology company that provides manufacturing service and contract development to biopharmaceutical industries, launched S-CHOice cell line expression technology, which develops glutamine synthase knock-out Chinese hamster ovary cell line technology.

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North America accounts for the largest market share in the prime editing and CRISPR market 2020

Based on the regions, the global prime editing and CRISPR market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. North America dominated the market in 2020 and is expected to continue this trend throughout the forecast period, owing to a rise in the prevalence of genetic diseases. North America had a market share of 47.3% in 2020. North America includes the U.S., Canada, and Mexico. The North America market was dominant in revenue among other regions in 2020, owing to a rise in the prevalence of genetic diseases, the presence of key players, and a rise in awareness of the advantages of prime editing technology.

An increase in the adoption of genetic technology for genomic diseases and their treatment, the presence of key players of genetic engineering, and advancements in R&D in genomics are the key factors for the market's growth. For instance, in 2020, Beam Therapeutics, a biotechnology company developing gene therapy treatment by CRISPR and gene editing, spent USD 21.5 million for R&D in genetics. According to the Centers for Disease Control and Prevention, approximately 100,000 Americans were reported to be diagnosed with sickle cell anemia. As per the same source, it was also reported that about 1 in every 13 American babies born was diagnosed with sickle cell trait. Spinal muscular atrophy is the most common genetic neuromuscular disorder, affecting nerves and muscles and causing muscle weakness.

This research report covers a review of the product portfolios and winning tactics of the major firms in the prime editing and CRISPR industry and a study of the development and marketing strategies. Horizon Discovery, Intellia Therapeutics Inc., CRISPR Therapeutics, GenScript Biotech, Beam Therapeutics, Inscripta, Precision Bioscience, Integrated DNA Technologies (IDT), Sangoma Therapeutics, and Synthego Corporation are also members. These market competitors have concentrated on acquisitions and growth to achieve a bigger market share in the prime editing and CRISPR industry.

Browse complete report: https://www.marketstatsville.com/prime-editing-and-crispr-market

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