CRISPR Technology is on Track to be a $10 Billion Market by 2025
The revolutionary gene-editing tool, CRISPR, will grow into a $10 billion market by 2025, according to Citi GPS’ new report.
“The shift to CRISPR genome editing and the rapid expansion of its use is expected to have a disruptive and far-reaching impact on multiple branches of science and medicine,” Citi biotech analyst Yigal Nochomovitz wrote in the report.
Last week, The Broad Institute of Harvard and MIT filed fresh arguments with the US government concerning the on-going patent dispute with the University of California Berkeley.
This dispute has been on-going since 2015. The conflict concerns which institute is the rightful owner of intellectual property rights to the use of the gene-editing technique, CRISPR-Cas9, in eukaryotic cells. The system was initially developed for use in prokaryotic cells by researchers at UC Berkeley, and a patent was subsequently filed that explicitly covers non-eukaryotic use. A short while later, researchers at the Broad Institute adapted CRISPR for use in eukaryotic cells and filed their own patent; as the Broad Institute opted to use an expedited review process, even though they filed their patent later than UC Berkeley, theirs was approved first. This led to the University of California raising a lawsuit on the assertion that the Broad’s actions had disrupted their own patent approval.
The technology is still relatively new, and human trials haven’t kicked off as of yet, though human trials have begun in China. According to Citi’s report, human trials are expected to kick off in the US in early 2018.
“Currently the CRISPR market is small, with its main offerings dedicated to lab work and scientific research via research toolkits. However, the real economic potential of CRISPR lies with human therapeutics. With CRISPR-based therapeutics having already entered human trials last year in China, the first CRISPR-based medicine could reach the market in ~6 years or less,” Nochomovitz said.
“If CRISPR gene editing works in early test cases of human disease, the long-term upside for the technology could be much, much greater,” Nochomovitz added.
According to Citi’s count, there has been more than $300 million in venture funding for gene-editing startups, and the publicly traded companies in this space have a combined $3 billion+ market cap, Business Insider writes.