CRISPR and CAS Gene Technology Market Size

CRISPR And CAS Gene Technology Market size was over USD 4.85 billion in 2024 and is likely to cross USD 33.05 billion by the end of 2037, witnessing more than 20.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of CRISPR and CAS gene technology is estimated at USD 5.65 billion.

The growth of the market can be attributed to the increasing applications in biotechnology, agriculture, the food industry, medicine, and gene technology. Genetic engineering is the most popular segment that is used in the production of therapeutic proteins and drugs. The increasing advancements in the research of biotechnology enhance the applications in human health directly or indirectly and are estimated to drive market growth. The biotechnology sector in India was estimated to cross over USD 80.12 billion with a growth rate of 14% as per the data of Invest India in 2022.

In addition to these, rising investment opportunities in the biotechnology sector for the production of diagnostics, therapeutics, and vaccines are expected to have a positive impact on market growth across the world. The increasing government initiatives and investments in the discovery of biosimilars to reduce the cost of the healthcare sector in low and middle-income countries are also propelling market growth in the coming years. As per the observations in 2022, biosimilars in the U.S. are projected to reduce drug expenditure by USD 130 billion by 2025. Biosimilars are complex molecules that are manufactured in living cells that are highly similar to the reference product with less variation.