Current scientific advancements show that CRISPR is not only an extremely versatile technology, but it’s also proving to be precise and increasingly safe to use. But a lot of progress still has to be made.
At presents, scientists are only beginning to see the full potential of genome-editing tools like CRISPR-Cas9.
Currently, there are no internationally agreed-upon laws or regulations on gene editing, leaving scientific research and application of CRISPR technology to the discretion of individual countries. An international protocol is the need of the hour.
For CRISPR-Cas9 genome editing technology to be embraced by the public, it must be applied responsibly. The global research effort must remain focused on treating disease rather than engineering new human traits or creating so-called designer babies.
According to a recent report, the global gene therapy market is anticipated to reach USD 4,300 million by 2021.
The demand for gene therapy is primarily driven by continuous technological advancements and successful progression of several clinical trials targeting treatments with strong unmet need.
Moreover, rising R&D spend on platform technologies by large and emerging biopharmaceutical companies and favourable regulatory environment will accelerate the clinical development and the commercial approval of gene therapies in the foreseeable future.
Despite the promise, the high cost of gene therapy represents a significant challenge for commercial adoption in the forecast period.
North America holds a dominating position in the global gene therapy market which is followed by Europe and the Asia Pacific.
Asia Pacific region shows signs of high growth owing to the booming economies of India, and China.
Overall, the field of gene therapy continues to mature and advance with many products in development and nearing commercialization.