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Cas Nuclease Market 2024-2033 - Size, Growth, Trends & Competitive Analysis
Cas Nuclease Market
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According to The Business Research Company's, The Cas nuclease market size has grown rapidly in recent years. It will grow from $2.75 billion in 2023 to $3.27 billion in 2024 at a compound annual growth rate (CAGR) of 18.9%. The growth in the historic period can be attributed to rising genome editing, increasing biotechnology research funding, demand for personalized medicine, government support for genetic research, and the growing prevalence of genetic disorders.
The Cas nuclease market size is expected to see rapid growth in the next few years. It will grow to $6.56 billion in 2028 at a compound annual growth rate (CAGR) of 19.0%. The growth in the forecast period can be attributed to increasing investment in gene editing startups, rising demand for therapeutic genome editing, regulatory approvals for gene therapies, development of Cas-based diagnostics, and growing interest in epigenome editing. Major trends in the forecast period include the adoption of CRISPR for rare disease treatment, growth in agricultural gene editing, rising interest in synthetic RNA-guided nucleases, development of CRISPR-based drug discovery, and rise of ethical debates around genome editing.
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Market Drivers and Trends:
The increasing investment in biotechnology is expected to propel the growth of the Cas nuclease market going forward. The surge in investment in biotechnology is fueled by breakthroughs in scientific research, rising demand for advanced medical treatments, the expanding applications of biotechnology across industries, and the promising economic potential of innovations and technologies. Biotechnology investment in Cas nucleases accelerates advancements in gene-editing technologies for medical, agricultural, and research applications. For instance, in August 2024, according to data published by the UK Bioindustry Association (BIA), a UK-based trade association for innovative life sciences and biotech industry, the UK's life sciences and biotech sector raised $2.61 billion in the first half of 2024, surpassing the $2.38 billion raised in all of 2023. Therefore, the increasing investment in biotechnology is driving the Cas nuclease market.
Major companies operating in the Cas nuclease market are focusing on developing advanced technology solutions, such as CRISPR-based gene editing therapy, to sustain their position in the market. CRISPR-based gene editing therapy is a medical approach that uses the CRISPR-Cas9 system to precisely modify deoxyribonucleic acid (DNA) sequences in living organisms to treat genetic disorders by correcting mutations at the molecular level. For instance, in November 2023, Vertex Pharmaceuticals Incorporated, a US-based biotechnology company, and CRISPR Therapeutics, a Switzerland-based gene editing company, announced the authorization of CASGEVY (exagamglogene autotemcel) by the UK Medicines and Healthcare Products Regulatory Agency (MHRA). This marks a significant milestone as it is the first-ever gene therapy utilizing CRISPR/Cas9 technology, approved for treating sickle cell disease (SCD) and transfusion-dependent beta thalassemia (TDT) in patients aged 12 and older.
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Major Key Players of the Market:
Thermo Fisher Scientific Inc., AstraZeneca PLC, Merck KGaA, Vertex Pharmaceuticals, Agilent Technologies Inc., Bio-Rad Laboratories Inc., Promega Corporation, GenScript Biotech Corporation, CRISPR Therapeutics AG, Integrated DNA Technologies Inc., Takara Bio Inc., New England Biolabs Inc., Horizon Discovery Group plc, OriGene Technologies Inc., Applied Biological Materials Inc. (ABM), Synthego Corporation, Novoprotein Scientific Inc., genOway, Precision BioSciences, Editas Medicine, Creative Biolabs, Cellectis, Caribou Biosciences, Addgene
Cas Nuclease Market 2024 Key Insights:
• The Cas nuclease market size is expected to see rapid growth in the next few years. It will grow to $6.56 billion in 2028 at a compound annual growth rate (CAGR) of 19.0%.
• Increasing Biotech Investment Drives Cas Nuclease Market
• CRISPR-Based Gene Editing Therapy Provides Curative Treatment For Genetic Disorders
• North America was the largest region in the Cas nuclease market in 2023
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