CRISPR, an abbreviation for the ‘Clustered Regularly Interspaced Short Palindromic Repeats, is expected to be a key trend in the medical technology space this year. CRISPR is perceived as the most advanced gene-editing technology available so far.
When medical experts use the technology, natural mechanisms of the immune system of the bacterium cells concerning invading the virus are able to remove infected DNA strands.
It is through this cutting of DNA strands that the infectious part is removed. This is the basis of treatments that utilize these technologies. Further focus on this technology will help us eradicate crucial diseases like AIDS and Cancer within a few years.
The other applications of CRISPR include rectifying genetic defects, preventing the rapid spread of diseases, etc. Moreover, in the upcoming years, the technology will be crucial in treating rare conditions, according to what experts say.
The worldwide CRISPR technology market was worth $1064.91 million in 20211. With an expected CAGR of about 24.6%, the market will be worth about $1327.27 million by the end of 2022. With an almost similar CAGR, the global CRISPR market will be valued at $3112.26 million towards 2026. (ResearchAndMarkets.com).
The possibility of CRISPR technology as a viable diagnosis tool is what will be fuelling the growth of the market, informs the study by Research and Markets.com.
The possibility of stringent government regulations may affect the growth of the CRISPR technology market. There is a lack of internationally agreed regulatory frameworks concerning genome editing.
CRISPR is a technology that would help in the treatment of rare diseases besides cancer. Cystic fibrosis is the best example. CF is a genetically transferred rare disorder affecting the digestive and respiratory systems. More research is happening concerning how viable CRISPR is as a technology to correct mutations. Until now, bone marrow transplant was the only option for CF patients.