CRISPR Technology Market projected to reach USD 11.1 Billion by 2030, growing at a CAGR of 19.5% during the forecast period of 2023-2030 – proclaims MarketDigits in its latest study.
The Global CRISPR Technology Market was valued USD 3.21 Billion in 2023 and projected to reach USD 11.1 Billion by 2030, growing at a CAGR of 19.5% during the forecast period of 2023-2030.
Richmond, Nov. 08, 2023 (GLOBE NEWSWIRE) — According to a research report “CRISPR Technology Market, by Component (Enzymes, Kits & Reagents, Guide RNA, Others), Application (Biomedical, Agriculture, Diagnostics, Others), End-user (Academic Research Organizations, Biopharmaceutical Companies, Agricultural Biotechnology Companies, Contract Research Organizations (CROs) and Region.
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TOC Covers in Depth & Breath on CRISPR Technology Market
160 – Market Data Tables
62 – List of Figures
215 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
CRISPR (short for “clustered regularly interspaced short palindromic repeats”) is a technology that research scientists use to selectively modify the DNA of living organisms. CRISPR was adapted for use in the laboratory from naturally occurring genome editing systems found in bacteria. The CRISPR technology market refers to the emerging biotechnology and genetic engineering landscape centered on Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) and CRISPR-associated (Cas) proteins. CRISPR technology has revolutionized genetic editing and precision medicine, allowing scientists to edit DNA with unprecedented precision and ease. This market includes various components, including CRISPR tools, systems and services related to gene editing, therapeutic development and research applications. The market for CRISPR technology is expanding at an impressive rate because of its revolutionary potential in fields including gene therapy, medicine development, and agricultural biotechnology. Unprecedented potential for fundamental research and therapeutic applications have arisen due to the capacity to target and change individual genes inside an organism’s DNA.
Major vendors in the CRISPR Technology Market – CRISPR Therapeutics, Thermo Fisher Scientific, GeneCopoeia, Inc., Intellia Therapeutics, Horizon Discovery, GenScript, OriGene Technologies, Synthego Corporation, Lonza Biotec, Integrated DNA Technology (Danaher), Agilent Technologies, CSIR-Institute of Genomics & Integrative Biology (IGIB), BGI Group, Eurofins Genomics India, Setsurotech Co., Ltd., Merck KGaA and Others.
Increasing Number Of Ongoing Clinical Trials Across The Globe
One significant factor driving the global CRISPR technology market is the rise in the number of active clinical studies. The ground-breaking gene-editing technique CRISPR-Cas9 has quickly evolved from a lab tool to a potentially transformative tool in the biotechnology and medical domains. This change is mostly attributable to the increase of clinical studies using CRISPR’s capacity to investigate cutting-edge treatment strategies. The great potential of CRISPR-based therapeutics in treating a variety of genetic abnormalities, hereditary illnesses, and cancer types is one of the main factors for the increase in clinical studies. The ability to accurately target and edit individual genes that cause certain illnesses has created previously unheard-of opportunities for the development of efficient therapeutics. Translating these promises into practical treatments that can enhance patient outcomes requires the completion of clinical studies.
- Increasing number of ongoing clinical trials across the globe.
- Increasing development of novel therapeutics
- High Prevalence of Genetic Disorders
- Increasing government and private funding
- Increasing Applications of CRISPR
Increasing government and private funding
A major potential to advance the CRISPR Technology Market is the growing availability of both public and private funding. The groundbreaking gene-editing technique known as CRISPR-Cas9 has generated a great deal of enthusiasm in the domains of biotechnology, agriculture, and biomedicine because it has the potential to change how to treat genetic problems, create novel treatments, and increase agricultural yield. Funding from the government has been essential in accelerating the advancement and use of CRISPR technology. Several nations and areas are actively funding research projects through grants, research programs, and the building of scientific infrastructure because they understand the revolutionary potential of CRISPR. This funding support advances the investigation of CRISPR applications by supporting research initiatives, promoting creativity, and encouraging interdisciplinary partnerships. Private sector investment is equally crucial in propelling the CRISPR market forward. Biotechnology companies, pharmaceutical firms, and venture capitalists are pouring resources into CRISPR-related research and product development. This investment not only fuels cutting-edge research but also drives the translation of CRISPR technology from the lab to commercial applications. Start-ups and established industry players are leveraging private funding to develop CRISPR-based therapies, diagnostic tools, and agricultural solutions, opening new horizons for market growth.
The market for CRISPR Technology is dominated by North America.
The CRISPR technologies Market is dominated by North America, which has played a significant role in the development and use of gene-editing technologies. Numerous elements, such as significant R&D projects, solid finance, robust infrastructure, and an innovative environment, are responsible for the region’s dominance in this field. Leading the way in the development of CRISPR technology is the United States. The nation is home to a thriving ecosystem of biotech firms, university research institutes, and pharmaceutical behemoths that are actively working to develop genome editing technology. The development and implementation of CRISPR technology is fueled by the existence of prominent academic institutions and research facilities devoted to precision medicine and genomics.
Because of the rising demand for applications including biomedical, agricultural, industrial, and others, the Asia-Pacific market is anticipated to develop at the quickest CAGR between 2021 and 2030. as a result of the rising amount of research on various technical processes and the increasing number of clinical investigations now being carried out in the field. It is anticipated that the increasing use of CRISPR technology in Asian nations like China and Japan would support the regional market’s growth.
The Enzymes Segment is Anticipated to Hold the Largest Market Share During the Forecast Period
The Enzymes section has emerged as the leading force in the vast CRISPR Technology Market, with the biggest market share. The key function that enzymes play in the CRISPR-Cas9 gene-editing process explains this supremacy. Scientists may modify certain genes in a highly focused way by using enzymes, especially Cas9 endonucleases, which act as molecular scissors to cut DNA at exact spots. The essential function that CRISPR enzymes play in the process of gene editing is one of the main factors contributing to the Enzymes segment’s supremacy. Because Cas9 can precisely recognize and cut DNA sequences, it has emerged as the cornerstone of CRISPR technology and is an essential tool for genetic engineering. Because of its adaptability to editing a variety of species and compatibility with various delivery systems, Cas9 has become the preferred enzyme for many researchers.
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- In May 2021, ERS Genomics Ltd. and GenScript Biotech Corporation signed a non-exclusive license agreement, through which GenScript can have access to ERS Genomics’ CRISPR/Cas9 patent portfolio.
- In April 2023, Google and Intel collaborated on a new research project to identify potential security vulnerabilities in Intel’s new CRISPR Technology technology, Intel Trust Domain Extensions (Intel TDX). In addition to an expanded feature set, Intel Tdx offers full vm compute models without requiring any code changes.
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