Global CRISPR to Grow at an Escalating Rate Over the Forecast Period
CRISPR (Clustered Regularly Interspaced Short Palindromic Repeat), also referred to as CRISPR-Cas9, is an RNA guided gene editing system that makes use of a protein enzyme (Cas9) and a synthetic guided RNA to present a double strand brake at a specific position inside the genome. Through this method, microbes capture short sequences of nucleic acid from attacking pathogens and syndicate them in CRISPR loci in the midst of the iterations. Small RNA's delivered by interpretation of CRISPR loci, directs a set of bacterial endonucleases to divide the genomes of attacking pathogens. This system has been adopted as a ground-breaking strategy empowering genome editing into the mainstream.
The gene editing technology has grown at a considerable rate since the past couple of years as the gene editing tools have become more accessible and cost-efficient, enabling an in-depth understanding of the human genome. This technology allows the researchers and scientists to carry out microsurgery on genes, accurately and easily, altering DNA sequences at particular locations on a chromosome. The Global CRISPR Market is expected to grow at a significant rate of around 36.53% over the forecast period. One of the major factors responsible for driving the growth of the overall market include the rising occurrences of genetic disorders. Additionally, the arrival of new entrants in the market is leading to the development of improved and reliable methods, hence driving the growth of the market.
The Global CRISPR Market is principally driven by the below-mentioned factors:
Increased R&D expenditure on biotechnology
Increasing private and government expenditure on genetic research
Increasing demand for drug discovery
High demand for synthetic genes
High prevalence rate of genetic birth disorders
Investment in path-breaking research technology
Increasing age-related genetic disorders
North America To Be The Highest Revenue Generator; Asia Pacific To Grow At The Fastest Rate Over The Forecast Period
On the basis of the regional analysis, Asia Pacific is projected to be the fastest growing region throughout the forecast period. This growth can be attributed to the increasing population in the emerging nations such as India and China, as well as the rising occurrences of genetic disorders in the region. On the other hand, the market in North America is predicted to be the largest revenue generator by the end of the forecast period, with the U.S. being its major contributor. The presence of key market players and growing consumer awareness related to this technology is further expected to boost the market demand in this region.