CRISPR and CAS Gene Technology Market Share

North American Market Forecast

The market share of CRISPR and CAS gene technology in North America, amongst the market in all the other regions, is projected to be the largest with a share of about 37% by the end of 2037. The growth of the market can be attributed majorly to the increasing growing investment of governmental and non-governmental agencies in R&D activities regarding CRISPR and CAS gene technology, accompanied by the presence of leading pharma & biotech companies and their early adoption of CRISPR technology. Along with this, North America also leads in terms of ongoing clinical trials, which is also expected to contribute to the market growth in the region. The increasing number of key players in the region investing the gene technology to improve biosimilars and biomedical drugs is estimated to hike the market growth. Many new biosimilars are developed in the U.S. for existing drugs. For instance, in 2019 Mvasi made by Amgen, and in 2020 Zirabev made by Pfizer are biosimilars approved by U.S. Food and Drug Administration for Avastin which is a Genetech product. Similarly, the Lantus of Sanofi has Semglee and Basaglar which are biosimilars from Viatris and Eli Lily companies developed in 2020.

APAC Market Statistics

The Asia Pacific CRISPR and CAS gene technology market is estimated to be the second largest, registering a share of about 24% by the end of 2037. The growth of the market can be attributed majorly to the rising investments in CRISPR and CAS gene technology and increasing research collaborations between universities and biotech companies in the region. Along with this, the Asia Pacific region has an increasing prevalence of chronic disorders, which is also expected to drive market growth in the region. The growing importance of agriculture owing to the rising population in the region is projected to increase the growth opportunities of the market in the region. The presence of gene mutations in people working in mining and chemical industries as well as pharmaceuticals for a longer time is estimated to drive market growth. The increasing need for healthcare expenditure in the region with the rising prevalence of many genetic disorders owing to a lack of awareness of people is propelling the market growth.

Europe Market Forecast

Further, the market in Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2037. The growth of the market can be attributed majorly to the increased research expenditure related to CRISPR technology. As per a report published by European Parliamentary Research Service in 2020, crops edited using CRISPR and CAS gene technology may become a part of a transition to a more sustainable form of agriculture. Rising investments in gene editing-based research and development with the introduction of several applications are estimated to propel the market growth in the coming years. The rising concern by medical professionals in the region to prevent the spread of chronic illnesses that cannot be cured with medical treatment is estimated to propel the growth of the CRISPR and CAS gene technology market. The rising demand for cell line engineering services with increasing government investments to rise the healthcare of the people in the region is fueling the market growth.