Prime Editing and CRISPR Market

The global prime editing and CRISPR market was valued at $2,694.2 million in 2020, and is estimated to reach $23,493.0 million by 2030, growing at a CAGR of 24.3% from 2021 to 2030.

The COVID-19 outbreak is anticipated to have a positive impact on growth of the global digital health market. The COVID-19 pandemic has stressed health care system in the world and increased the need for development of healthcare information technology, and remote monitoring services.

Prime editing and CRISPR is a genome editing technology in which the genome of living organism is modified by search and replace technique. Prime editing is composed of two components, namely, engineered prime editing guide RNA (pregRNA) and a prime editor (PE). It includes different genetic engineering tools and techniques for alteration of a particular DNA sequence.

Growth of the global prime editing and CRISPR market is majorly driven by increase in demand for targeted gene manipulation technology; rise in funding from private & government organizations for genomic projects; rise in prevalence of genetic-based diseases; and increase in investments in R&D activities by various healthcare companies. According to medical life science, in March 2021, researchers in Medical College of Georgia in U.S. announced that prime editing expand the genetic toolbox to develop disease animal model and correct genetic problems. Moreover, in January 2020, Department of biotechnology, in India, initiated the Genome India Project (GIP) which aims to collect 10,000 genetic samples from citizens and develop a reference genome. Furthermore, according to the CRISPR Medicine, in 2020, it was announced that prime editing also restored function of genetic defect in patient derived organoids. Prime editing and CRISPR emerging technology is also used in cancer biologic study. Surge in demand for genetically modified crops boosts growth of the market. According to the American Association for the Advancement of Science (AAAS), in 2021, it was reported that researchers in the Chinese Academy of Sciences University in China enhance efficiency of plant gene editing with optimized pegRNA designs.

However, side effects associated with prime editing and CRISPR such as legal and ethical issues of and lack of safety in gene editing are expected to restrict the market growth during the forecast period.

Prime Editing And Crispr Market Segmentation

The prime editing and CRISPR market is segmented on the basis of service, application, end user, and region. By services, the market is categorized into cell line engineering, genome regulation, gene editing, and gene-modified cell therapy. By application, it is divided into biomedical research & therapy, agricultural research, and others. By end user, the market is divided into academic institutes, biotechnology & pharma companies, and contract research organizations. 

Region wise, the market is analyzed across North America (the U.S., Canada and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).

Segment review

Depending on service, the gene editing segment dominated the market in 2020, and is expected to continue this trend throughout the forecast period, owing to increase in demand for gene editing in targeted drug discovery process and advancements in research for genomic-based diseases. However, the gene modified cell therapy segment is expected to witness considerable market growth during the forecast period, owing to increase in prevalence of chronic diseases, surge in demand for stem cell research activities, and increase in demand for genomic models.

On the basis of application, the agriculture research segment dominated the market in 2020, and is expected to continue this trend throughout the forecast period, owing to surge in demand for genetically mutated crops and increase in funding for plant biotechnology by private and government organizations. However, the biomedical research & therapy segment is expected to witness considerable market growth during the forecast period, owing to increase in prevalence of sickle cell anemia, advancements in R&D in the healthcare sector, and surge in adoption of gene editing.

On the basis of end user, the biotechnology & pharma companies segment dominated the market in 2020, and is expected to continue this trend throughout the forecast period, owing to increase in prevalence of chronic and genetic diseases, surge in demand for monoclonal antibodies, vaccines, and use of innovative technology in genetic engineering. However, the academic institution segment is expected to witness considerable market growth during the forecast period, owing to development in research in universities and rise in technological advancements in molecular genetics.

North America accounted for a major share in the prime editing and CRISPR market in 2020, and is expected to maintain its dominance during the forecast period, owing to rise in prevalence of genetic diseases, presence of key players, and advancements in R&D in genetic engineering. However, Asia-Pacific is expected to register highest CAGR of 28.1% from 2021 to 2030, owing to increase in prevalence of chronic diseases, rise in geriatric population, increase in demand for novel drugs, and rise in number of laboratories for research.

Key players operating in the global market include Beam Therapeutics, CRISPR Therapeutics, GenScript Biotech, Horizon Discovery, Integrated DNA Technologies (IDT), Intellia Therapeutics Inc., Inscripta, Precision Bioscience, Sangoma Therapeutics, and Synthego Corporation.

Key Benefits For Stakeholders

• The study provides an in-depth analysis of the prime editing and CRISPR market, and the current trends and future estimations to elucidate imminent investment pockets
• It presents a quantitative analysis of the prime editing and CRISPR market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing market opportunities
• Extensive analysis of the prime editing and CRISPR market based on procedures and services assists to understand the trends in the industry
• Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the prime editing and CRISPR market

Key Market Segments

By Service

• Cell Line Engineering
• Genome Regulation
• Gene Editing
• Gene-Modified Cell Therapy

By Application

• Biomedical Research & Therapy
• Agricultural Research
• Others

By End User

• Academic Institutes
• Biomedical Research & Therapy
• Agricultural Research
• Others
• Biotechnology & Pharma Companies
• Biomedical Research & Therapy
• Agricultural Research
• Others
• Contract Research Organizations
• Biomedical Research & Therapy
• Agricultural Research
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • Australia
  • India
  • South Korea
  • Rest of Asia-Pacific
• LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA

Key Market Players 

• Beam Therapeutics
• CRISPR Therapeutics
• GenScript Biotech
• Horizon Discovery
• Integrated DNA Technologies (IDT
• Intellia Therapeutics Inc.,
• Inscripta
• Precision Bioscience
• Sangoma Therapeutics
• Synthego Corporation

 Prime Editing and CRISPR Market Report Highlights