Unregulated human activities are responsible for climate change which is a major factor for the emergence of new infectious (bacterial, viral, fungus, and parasitic) and non-infectious diseases (genetic disorders, cancers, etc.). To tackle this situation, we must have better therapeutics, diagnostics, and vaccines for the treatment and prevention of emerging diseases in humans and animals. To address the aforementioned issues, CRISPR-Cas9, a revolutionary genome editing tool, can help us develop better therapeutics, diagnostics, and vaccines in a short time. In addition, it can be used to achieve food security by improving productivity, adaptability, and resilience traits in plants and animals. In nature, most bacteria and archaea have CRISPR as a part of their adaptive immune system that helps bacteria defend themselves from phages, viruses, and other foreign genetic elements. CRISPR-Cas9 is a highly effective, simple, and accurate genome editing tool compared to previous genome editing tools such as meganucleases, Zinc finger nucleases (ZFNs), and transcription activators like effector nucleases (TALENs). This review article discusses the different components and working of the CRISPR-Cas9 system, and how CRISPR-Cas9 plays a significant role in the development of next-generation therapeutics, diagnostics, vaccine platforms, and improved crops and livestock species for food security.