CRISPR-Cas9 Market is Projected to Grow at A CAGR of 39.7% During 2020-2026 | Key Players Thermo Fisher Scientific, Editas Medicine, Caribou Biosciences, CRISPR Therapeutics

CRISPR-Cas9 Market is expected to reach $7,462.43 million by 2026; growing at a CAGR of 39.7% till 2026.

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CRISPR is a family of DNA sequences present in the genomes of prokaryotic organisms such as bacteria and archaea. CRISPR-Cas9 is a technology that enables medical researchers to edit parts of the genome by altering, adding, or removing sections of the DNA sequence. CRISPR/Cas9 system consists of two parts the Cas9 enzyme and a guide RNA. Cas9 enzyme acts as a pair of molecular scissors, which can cut strands of DNA. A guide RNA is designed to find and bind specific sequences in the DNA. CRISPR potential applications include treating and preventing the spread of diseases and improving crops and correcting genetic defects.

Increasing government initiatives to enhance precision medicine for precise cure and treatment is a key boosting factor of the market. For instance, the California government has introduced the bipartisan advancing access to Precision Medicine Act, to push forward the use of genetic and genomic testing to improve and save lives. The governor of California has also funded USD 30 million to establish the California Institute to Advance Precision Health and Medicine. Further, the U.S government has initiated Precision Medicine Initiative by investing USD 215 million aiming for better health for the people by transforming the treatment process as precision medicine directly targets the gene of the person and modifies the DNA sequence to cure and for better treatment. Moreover, The US National Institutes of Health (NIH) has funded USD190 million for genome editing research. The Somatic Cell CRISPR-Cas9. However, CRISPR-Cas9 can result in an undesired aberrant phenotype, which might hamper the market growth. CRISPR-Cas9 can alter the function of a gene and result in genomic instability, hindering its prospective and application in the clinical procedure.

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Grna Database/Gene Library, CRISPR Plasmid, Human Stem Cells, Genetically Modified Organisms/Crops, and Cell Line Engineering in the type segment of the market scope, and the application segment is categorized into Biotechnology Companies, Pharmaceutical Companies, Academic Institutes, and Research and Development Institutes. The report covers the value of the global market by type and application.

The market value of the Grna Database/Gene Library was USD XX million in 2019, and it is expected to reach USD XX million by 2026, growing at a CAGR of XX during 2020-2026. Grna Database/Gene Library is the dominant segment and accounted for approximately 36.45% of the market in 2018, due to the competitive advantage over others to produce and commercialize CRISPR lenti-gRNA libraries.

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North America, Europe, Asia Pacific, South America, and Middle East & Africa are taken into consideration at the global CRISPR-Cas9 Value figures. While North America is further categorized into enhancing the United States, Canada, and Mexico, Europe is split into the United Kingdom, Germany, France, Italy, and Rest of Europe. Asia-Pacific covers India, China, Japan, South Korea, and Rest of Asia Pacific in its scope. South America is bifurcated into Brazil, Argentina, and Rest of South America, with Middle East & Africa involving GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North America CRISPR-Cas9 market was USD XX million in 2019, and it is predicted to reach USD XX million by 2026, growing at a CAGR of XX during the forecast period. The increasing regulatory approvals for testing the CRISPR genome editing technology would improve the growth of the market.

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Major players operating in the CRISPR-Cas9 industry include Thermo Fisher Scientific, Editas Medicine, Caribou Biosciences, CRISPR Therapeutics, Intellia Therapeutics, Inc., Horizon Discovery Plc, Sigma Aldrich, Genscript, Lonza Group Limited, Integrated DNA Technologies, New England Biolabs, Origene Technologies.

Formation of strategic collaborations and government funding to the companies are the few business strategies adopted by the key companies, with a focus on maintaining a competitive advantage over others. The companies are focused on product approvals and the expansion of business activities on a global scale.

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This release was published on openPR.