The global prime editing and CRISPR market size was valued at USD 2,694.2 million in 2020 and is estimated to reach USD 12,648.4 million by 2027, growing at a CAGR of 24.3% from 2021 to 2027. Clustered Regularly Interspaced Short Palindromic Repeats technology is a genetic tool used for editing of genome. Prime editing is considered the developed version of CRISPR/Cas9 genome editing technology. It is a genome editing technology that uses the fusion protein of Cas9-nickase and reverses transcriptase to treat genetic defects. It is a new molecular device capable of removing and cutting base pairs and adding long segments of DNA without breaking strands of the helix. Prime editing and CRISPR are used as molecular scissors to develop new therapies to treat chronic and genetic diseases. This technology helps treat rare genetic diseases such as sickle cell anemia, cystic fibrosis, correction in a point mutation, and chronic diseases such as lung cancer.
The prime editing and CRISPR market are driven by an alarming increase in the prevalence of genomic and chronic diseases such as cystic fibrosis, lung cancer, and sickle cell anemia; advancements in R&D of genes, surge in demand for genetically mutated crops; a rise in government funds for genomic projects; and rise in awareness regarding genetic engineering. As per the World Health Organization (WHO), in 2020, approximately 10 million people will die due to various types of cancer. As per data published by a Cystic fibrosis foundation, in 2019, 70,000 people were diagnosed with cystic fibrosis. More than 1000 new cases of cystic fibrosis are reported each year. Moreover, the surge in demand for genetic engineering in biomedical research and gene editing drives the market’s growth.
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Thus, the increase in the prevalence of genetic-based disease and the surge in demand for gene manipulation are the factors expected to propel the market’s growth. The rise in funding from private & government organizations to genomic projects and the increase in application in genetically mutated crops are the major factors driving the global prime editing and CRISPR market growth. Moreover, a surge in incidences of diseases such as cancer significantly contributes to market growth because gene insertion and deletion technique is used to treat several chronic diseases. The rise in genomic research activities is a key driving force of the global market. Additionally, governments are taking multiple initiatives to support regenerative medical research, which is expected to boost market growth.
COVID–19 Impact on the Global Prime Editing and CRISPR Market
The COVID-19 outbreak is anticipated to positively impact the growth of the global prime editing and CRISPR market. The COVID-19 pandemic has stressed the health care system in the world and increased the need for a vaccine and monoclonal antibodies for the prevention and treatment of patients suffering from the coronavirus. A huge number of researches were conducted on the DNA and RNA of the coronavirus to understand how it enters human cells and learn about its pathogenesis. Genetic engineering could make the COVID-19 vaccine in months rather than years.
For instance, in March 2021, researchers in the Medical College of Georgia in the U.S. developed prime editing technology, which effectively edited genes in mice and expanded the genetic toolbox for creating disease models. In addition, in June 2020, scientists at Stanford University in California launched the PAC-MAN tool. This genetic editing tool targets and destroys specific genetic strands of the virus in human cells. Subsequently, this increases demand for gene editing in many biotechnology & pharma companies, universities, and laboratories.
Global Prime Editing and CRISPR Market Dynamics
Drivers: Advancements in R&D in genetic engineering
Recent developments made in the field of genomic high-throughput platforms for DNA in genetic engineering and regulation analysis have paved the way for innovative potential therapies. With advancements in technology, scientists have developed new and more efficient techniques for genome editing, such as prime editing and CRISPR technology. For instance, in March 2021, researchers in the Medical College of Georgia in the U.S. announced that prime editing technology expanded the genetic toolbox for developing disease animal models and correcting genetic problems. Moreover, according to the American Association of the Advancement of Science (AAAS), in 2020, researcher Jennifer Doudna used CRISPR gene-editing technology to detect the coronavirus in 5 minutes.
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