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CRISPR & Cas Genes Market Size, Share & Trends Analysis Report By Product & Service, By Application, By End Use And Segment Forecasts, 2020 – 2027 – PRNewswire

NEW YORK, June 10, 2020 /PRNewswire/ — CRISPR & Cas Genes Market Size, Share & Trends Analysis Report By Product & Service (Vector-basedCas, DNA-freeCas, Cell Line Engineering), By Application, By End Use, And Segment Forecasts, 2020 – 2027

Read the full report: https://www.reportlinker.com/p05914190/?utm_source=PRN

CRISPR & Cas Genes Market Growth & Trends

The global clustered regularly interspaced short palindromic repeats (CRISPR) and CRISPR-associated (Cas) genes market size is expected to reach USD 4.88 billion by 2027, expanding at a CAGR of 16.6% from 2020 to 2027. Rise in the adoption of CRISPR technology in epigenetics, therapeutics, human germline editing, plant genome editing, and other fields of biotechnology is expected to drive the market.

Presence of a large number of service providers that provide knockout, knock-in, gene repression, gene activation, and other cell line engineering services propel the growth of cell line engineering services.In biomedical applications, genome engineering held the largest revenue share in 2019.

Adoption of gene editing techniques for human- and non-human-based genomic engineering is one of the key factors that drive the segment.

The molecular scissor can facilitate the detection of viruses, allowing the development of cost-effective, robust, and rapid point-of-care diagnostics.It allows the detection of viruses at a level of molecular concentration that researchers rarely assess.

Sherlock Bioscience estimated that a CRISPR-powered diagnostic test would be available in the future at a reasonable price. In recent times, the most important innovation has been the development of a test for COVID-19.

In March 2020, Mesa Biotech announced FDA authorization for its Accula device, a hand-held COVID-19 diagnostic test.Similarly, in April 2020, CSIR lab announced the development of a paper-strip test for Covid-19 that uses CRISPR-Cas9 to target and identifies the genomic sequences of the virus.

Unlike the PCR tests, this test is available at a very low price, USD 6.59 (INR 1 = USD 0.013). Therefore, such initiatives are expected to encourage other players to leverage this crisis and launch novel products.

CRISPR & Cas Genes Market Report Highlights
• The product segment is anticipated to dominate the market throughout the forecast period. This is attributed to the presence of enhanced individual products that can serve multiple purposes including genome engineering, specific genome cleavage using gRNAs, easy gene knockouts, along with reduced off-target cutting, and increased specificity
• Cell line engineering services accounted for the largest market share in 2019. The development of this technology has simplified the genome engineering process to a large extent
• In biomedical applications, genome engineering held the largest revenue share in 2019 as a result of an increase in the adoption of genome editing techniques for modifications in germline and therapeutics development
• Recent advancements in CRISPR/Cas genome editing allow targeted modification in crops, thereby promising crop improvement and revenue generation in the market
• A significant number of research studies carried out to develop disease-specific novel therapies and presence of a huge clinical pipeline that integrates the application of this gene-editing technology are expected to boost revenue generation for the biotechnology and pharmaceutical companies segment
Asia Pacific is anticipated to witness the fastest growth over the forecast period. China holds a significant position in the CRISPR market and is increasingly exploring genome-editing for the development of medicines. The country has launched several CRISPER-based clinical trials, especially for cancer treatment.

Read the full report: https://www.reportlinker.com/p05914190/?utm_source=PRN

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Published at Wed, 10 Jun 2020 13:30:00 +0000