CRISPR gene editing has transformed the field of gene editing by reducing the turnaround time and complexity, enhancing accuracy, efficiency, and safety, and encouraging numerous innovations.
The biomedical segment currently dominates the global CRISPR gene editing market and is anticipated to remain dominant during the forecast period 2021-2031.
The dominance is attributed to the rising geriatric population, increasing prevalence of chronic diseases, and increasing investments from biopharmaceutical companies. The fastest-growing segment in biomedical is expected to be drug discovery, with a CAGR of 27.86% during the forecast period 2021-2031.
The development of genome engineering with potential applications proved to reflect a remarkable impact on the future of the healthcare and life science industry. The high efficiency of the CRISPR-Cas9 system has been demonstrated in various studies for genome editing, which resulted in significant investments within the field of genome engineering. However, with so many advantages, limitations also exist, which need consideration before clinical applications. Further, many researchers are working on the limitations of CRISPR gene editing technology for better results. The potential of CRISPR gene editing to alter the human genome and modify the disease conditions is incredible but exists with ethical and social concerns. The global CRISPR gene editing market was valued at $1,088.6 million in 2020, and it is expected to reach $18,856.6 million by 2031, registering a CAGR of 29.60% during the forecast period.
The growth is attributed to the increasing demand in the food industry for better products with improved quality and nutrient enrichment and the pharmaceutical industry for targeted treatment for various diseases. Further, the continued significant investments by healthcare companies to meet the industry demand and growing prominence for the gene therapy procedures with less turnaround time are the prominent factors propelling the growth of the global CRISPR gene editing market.
For more information on this report (along with the option to get free sample) visit -https://bisresearch.com/industry-report/global-crispr-gene-editing-market.html
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