Market Trends of CRISPR Technology Industry
The Biomedical Segment is Expected to Hold a Significant Market Share Over the Forecast Period
Applications in the biomedical segment are expected to grow at a significant rate over the forecast period due to the increased usage of CRISPR technology and growing research activities. The segment involves genome engineering, disease model studies, functional genomics, and epigenetics. The CRISPR/Cas9 system is broadly and successfully applied for biomedical discoveries in several areas, particularly sensing nucleic-acid-based biomarkers of infectious and non-infectious diseases and detecting mutations and deletions indicative of genetic diseases.
There has been a notable surge in research and development efforts surrounding CRISPR technology and its utilization within biological systems. For instance, according to a report published by the Diagnostics Journal in October 2022, the CRISPR/CRISPR-associated protein (Cas) system is a sensitive and specific biological system that can quickly identify pathogen-specific nucleic acids. The CRISPR/Cas system has also shown excellent performance in developing pathogen nucleic acid-detection technology. Researchers have made many rapid, convenient, and feasible innovations in pathogen nucleic acid detection technology in combination with various biosensing technologies. The significant adoption of CRISPR gene editing tools across various biomedical applications is contributing to the growth of this segment.
Additionally, introducing nano-carriers and improved delivery systems have enhanced the efficacy and specificity of this technology. Hence, it is increasingly adopted in gene and cell therapy as well as regenerative medicine. For instance, according to a report published by Molecular Cancer in March 2022, CRISPR-Cas9 technology has experienced a notable increase in utilizing genome editing approaches to address diverse genetic disorders and cancers. This involves the correction of known gene mutations associated with inherited genetic diseases. Hence, the widespread adoption of CRISPR/Cas9 technology, facilitated by its easy and precise genome editing capabilities, coupled with advancements in nano-carriers and delivery systems, is driving its increased applications in gene and cell therapy as well as various biomedical sciences, particularly in regenerative medicine and cancer immunotherapy.
Moreover, CRISPR technology exhibits therapeutic applications such as treating genetic disorders, discovering drugs, and identifying cancer biomarkers. These versatile therapeutic functionalities contribute to the technology's broad utility and potential impact across various professional and medical segments. For instance, in February 2023, the American Chemical Society's researchers developed a non-invasive and easy-to-use method for cancer diagnosis using blood samples. The process involves detecting cancer-related molecules in exosomes, small vesicles released by cells found in plasma. Exosomes carry biomarkers, such as microRNAs (miRNAs), which can reflect the condition of the originating cell, especially cancerous cells.
Thus, the biomedical segment is anticipated to grow significantly over the forecast period due to increased applications of CRISPR technology in the biomedical segment.
North America is Expected to Hold a Significant Market Share Over the Forecast Period
The CRISPR technology market in North America is expected to grow significantly during the study period due to technological innovations, product approvals, critical initiatives by market players, and the technology's multiple advantages.
Major companies in the market are initiating research and introducing new products to cater to the rising demand for CRISPR systems. For instance, in March 2023, Synthego Corporation launched its service partner ecosystem, CRISPR Discovery Partners, which is designed to accelerate drug discovery by providing a seamless research workflow from CRISPR editing to phenotypic data and downstream services. The ecosystem brings together high-value partners, including Arctoris, BrainXell, Curia, PhenoVista, and Pluristyx, to offer a coordinated solution for CRISPR-driven drug discovery.
Furthermore, competition among the existing market players has increased due to technological developments and the potential applications of CRISPR technology in various fields. There is an increased focus on this highly adaptable technology. This competition also encourages companies to adopt strategies like acquisition and mergers. For instance, in February 2023, Sherlock Biosciences completed the acquisition of Sense Biodetection (Sense). This acquisition accelerates Sherlock’s ability to conveniently put the most advanced CRISPR-based diagnostics in the hands of global consumers.
Major players are investing in establishing new research laboratories and production facilities to augment CRISPR systems' research and production capabilities. This proactive approach aims to create enhanced opportunities for CRISPR technologies within the market. For instance, in May 2023, Synthego Corporation opened its new good manufacturing practice (GMP) synthesis facility. This 18,000 sq. ft facility supports the growing demand for developing high-quality, clustered, regularly interspaced short palindromic repeats (CRISPR)-enabled in-vivo and ex-vivo therapeutics. The facility also includes research services for investigational new drugs, new drug applications, and biologics license applications enabling clinical studies.
Thus, the growth of the CRISPR market in North America is propelled by technological innovations, product approvals, strategic initiatives by market players, increased competition driving research and development, and significant investments in research facilities and production capabilities to meet the rising demand for CRISPR technologies.
