CRISPR-Cas9 is a genome editing technology that allows genetic material to be added, removed, or altered at particular locations in the genome. The technology has the potential to treat thousands of genetic diseases like cystic fibrosis, sickle cell anemia, beta-thalassemia by fixing defective genes that cause disease. With its ability to diagnose, treat and prevent diseases, CRISPR technology is transforming the field of genetic medicine. The global Crispr Genomic Cure Market is estimated to be valued at US$ 1.84 Bn in 2024 and is expected to exhibit a CAGR of 11.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rise of personalized medicine has increased the demand for targeted genomic therapies like CRISPR. Personalized genomic cures allow diseases to be treated at their root genetic cause by either repairing or replacing defective genes. As knowledge of genomics continues to grow through projects like the Human Genome Project, more diseases will be linked to genetic mutations and anomalies. This will create an opportunity for genomic medicines like CRISPR to develop individualized treatments for patients. With further research and clinical trials, CRISPR genomic cures have the potential to revolutionize the treatment of previously incurable genetic disorders.
Segment Analysis
The global genome editing technology market is segmented on the basis of technology, application, end use and geography. Among technologies, the CRISPR segment dominates the market and is expected to maintain its dominance during the forecast period. CRISPR is relatively easy to program and more affordable as compared to other genome editing technologies such as TALENs and Zinc finger nucleases. Due to these advantages, CRISPR accounted for over 50% of the total market share in 2023 and the trend is likely to continue in the coming years.
Key Takeaways
The global Crispr genomic cure market analysis is expected to witness high growth. By 2030, the market is projected to reach US$ 5.54 Bn, expanding at a CAGR of around 11%.
Regional analysis:
North America is expected to dominate the global Crispr genomic cure market during the forecast period. The region accounted for over 40% share of the global market in 2024. Presence of leading genomic cure research companies such as Editas Medicine, Intellia Therapeutics and Crispr Therapeutics has boosted R&D activities in the region. Rising cases of genetic diseases and increasing investments in genomic cure technology development by governments are also supporting market growth.
Key players
operating in the Crispr genomic cure market are Marriott International, Hilton Worldwide Holdings Inc., InterContinental Hotels Group PLC, and Four Seasons Hotels and Resorts. Marriott International is one of the leading chains of hotels and is focused on expanding its product portfolio in the genomic cure space. Hilton Worldwide Holdings Inc. is investing in genomic cure research for developing genetic tests and therapies.
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