CRISPR Technology Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3989
CRISPR Technology Market size is projected to experience significant growth from 2019 to 2025.
Growing incidence of genetic disorders such as down syndrome, Melnick-Needles syndrome, cystic fibrosis, Duchenne muscular dystrophy and other genetic disorders will stimulate the global CRISPR technology business growth in the coming years. In 2018, according to the World Health Organization (WHO), about 10,000 of human diseases are reported to be monogenic diseases. Thus, with the growing prevalence of genetic diseases, the demand for preventive and curative medicine will increase, thereby driving the CRISPR technology market growth.
Increasing demand coupled with technological advancements in the fields of genome editing, genetic engineering, biotechnology, pharmaceutical, and agriculture will positively impact industry growth in the coming years. The recent advancement developed in the field of agricultural industry, in 2018, used CRISPR-Cas9 to combine the best characteristics of modern and ancient tomatoes. Additionally, CRISPR technology reduces the time required to modify target genes compared to other gene targeting technologies. Aforementioned reasons will offer lucrative growth opportunities for CRISPR technology market in the coming years.
However, high cost in development coupled with lack of reimbursement policies may restrain the CRISPR technology market growth. Furthermore, stringent government regulations may limit product approvals, thereby hampering the CRISPR technology market growth over the forthcoming years.
Gene designing tool segment will hold a significant revenue size over the forecast years due to its extensive usage in the application of genetic engineering. Gene designing tools has high precision, simplicity, and flexibility in the field of sequence-specific gene editing. Moreover, application of CRISPR-based gene designing tools in the field of gene manipulations and cell line editing will further boost the segmental growth over the forthcoming years.
Biomedical applications market size is expected to witness a significant growth over the forecast period. The major biomedical applications are genome engineering, drug discovery and diagnostics. Extensive application of genome engineering technologies for development of targeted therapies will spur industry growth. These applications are expected to drive the adoption of CRISPR technology in this segment.
Biotechnology companies segment will show momentous growth owing to the availability of safe, beneficial and improved CRISPR technology market facilities. CRISPR gene editing technology is driving every aspect of biotechnology including genetics, molecular biology, agricultural, immunology, oncology, and industrial biotechnology. Also, adoption of CRISPR based technology by biotechnology companies through strategic partnerships with other participants will further drive the segment growth in the forecast period.
North America CRISPR technology market is estimated to foresee a lucrative market growth over the forecast period due to the presence of major pharma and gene therapy companies, and the implementation of CRISPR in several applications. The U.S. based gene editing market will witness a robust growth of CRISPR based technologies. Also, the favorable regulatory procedures will boost the U.S. CRISPR technology industry growth over forthcoming years.
Asia Pacific CRISPR technology market is estimated to witness lucrative growth over the forecast period due to rapid economic growth coupled with diversified population and large patient pool. The CRISPR technology market has various applications in developing economies (India and China) such as animal breeding, agriculture, and human disease treatment. Moreover, rising government investment that supports the research and development (R&D) activities undertaken by pharmaceutical and biotechnology companies will ensure industry growth.
Few of the key companies operating in CRISPR technology market include Thermo Fisher Scientific Inc., Merck KGaA, Cellecta Inc, GeneCopoeia Inc. and GenScript. The industry players focus on strategic initiatives such as new product launch and mergers and acquisitions to maintain their market position. For instance, in June 2019, Arbor Biosciencesa, is a leader in developing molecular biology research tools, launched CRISPR based mitochondrial DNA depletion kits. Introduction of new technologies will foster company’s revenue generation.
CRISPR Technology Market by Product, 2014-2025 (USD Million)
- Design tools
- Plasmid and Vector
- Other products
CRISPR Technology Market by Application, 2014-2025 (USD Million)
- Biomedical applications
- Industrial applications
- Biological research
- Agricultural applications
CRISPR Technology Market by End-use, 2014-2025 (USD Million)
- Pharmaceutical and biopharmaceutical companies
- Academic and research institutes
- Contract research organizations
- Biotechnology companies
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Thermo Fisher Scientific Inc.
- Merck KGaA
- Cellecta, Inc
- Horizon Discovery Group plc
- Agilent Technologies, Inc.
- GeneCopoeia, Inc.
- New England Biolabs
- Origene Technologies, Inc.
- Toolgen, Inc.
- Integrated DNA Technologies, Inc.
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