Global CRISPR Technology Market Size, Share, and COVID-19 Impact Analysis, By Product (Enzymes, Kits and Reagents, Guide RNA, and Other Products), By Application (Biomedical, Agricultural, Industrial, and Other Applications), By End User (Pharmaceutical Companies and Biotechnology Companies, Academics and Government Research Institutes, and Other End Users (CROs, etc.) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030Industry: Healthcare
Global CRISPR Technology Market Insights Forecasts to 2030
- The global CRISPR technology market was valued at USD 2,251.21 Million in 2021.
- The market is growing at a CAGR of 20% from 2021 to 2030
- The global CRISPR technology market is expected to reach USD 11,615 Million by 2030
- The Asia Pacific is expected to grow the fastest during the forecast period
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The global CRISPR technology market is expected to reach USD 11,615 Million by 2030, at a CAGR of 20% during the forecast period 2021 to 2030. The governments of many nations all over the globe have contributed considerable sums of money to genomics research throughout the past few years. As a result, the discovery and exploration of innovative CRISPR technologies have been made possible. In addition, the availability of financial aid has made it feasible for government organisations and academic institutions to conduct extensive research in the field of genomic technology. This has been made possible by the availability of funding.
Editing genes is a relatively new biotechnological method that may be used to modify the genomes of live creatures for the purpose of improving their health or their economic prospects. In today's world, gene editing is put to use not only in the field of medicine but also in the field of agriculture. CRISPR technology is a recently developed and updated technique that effectively and specifically alters genes within organisms. The global market for CRISPR technologies is being driven in large part by the ever-increasing demand for products and technologies that include cutting-edge levels of technical sophistication. The worldwide market for CRISPR technologies is being propelled forward by a number of variables, the most important of which are the growing frequency of genetic illnesses such as Down syndrome and rising levels of government financing for genomics research. The World Health Organization (WHO) estimates that the prevalence rate of Down syndrome across the world is somewhere between 1 in 1000 and 1 in 1100. In addition, the American Society of Hematology reports that sickle cell disease affects the bodies of more than 300,000 newborns every single year. The second aspect that has favorably impacted the worldwide CRISPR technologies market is the rise in the use of genomics in the medical area. This is a factor that has positively influenced the market. Gene editing and gene therapy are becoming more popular treatments for a variety of genetic conditions, including sickle cell anaemia, cancer, new skin building treatments, sight restoration, and haemophilia. The expansion of the industry has been fueled by technological advances regarding gene editing as well as an increase in the demand for crops that have been genetically engineered. In March of 2017, an experimental kind of gene therapy was employed to treat a patient who was afflicted with sickle cell disease. The treatment led to an astonishingly rapid increase in the number of normal red blood cells in the body of the patient.
This research report categorizes the market for global CRISPR technology market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global CRISPR technology market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global CRISPR technology market sub-segments.
Global CRISPR Technology Market Report Coverage
|Market Size in 2021:||USD 2,251.21|
|Forecast Period 2021-2030 CAGR:||20%|
|2030 Value Projection:||USD 11,615 Million|
|Historical Data for:||2017-2020|
|No. of Pages:||210|
|Tables, Charts & Figures:||135|
|Segments covered:||By Product, By Application, By End User, By Region, COVID-19 Impact Analysis|
|Companies Covered:||Thermo Fisher Scientific (U.S.), Merck & Co. Inc. (U.S.), Genscript (U.S.), Sangamo Therapeutics Inc. (U.S.), Integrated DNA Technologies Inc. (U.S.), Lonza (Switzerland), New England Biolabs (U.S.), CRISPR THERAPEUTICS (Switzerland), Mirus Bio LLC (U.S.), Takara Bio Inc. (Japan), Abbott Laboratories (U.S.), ABio-Rad Laboratories Inc. (U.S.)|
|Pitfalls & Challenges:||COVID-19 has the potential to impact the global market|
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- In 2021, the enzymes segment dominated the market with the largest market share of 32% and market revenue of 720.3 Million.
Based on product, the CRISPR technology Market is categorized into Enzymes, Kits and Reagents, Guide RNA, and Other Products. In 2021, the enzymes segment dominated the market with the largest market share of 32% and market revenue of 720.3 Million. Because of the widespread use of gene technology methods in research, the enzyme segment of the market is particularly dominant.
- In 2021, the biomedical segment accounted for the largest share of the market, with 31% and market revenue of 697.8 Million.
Based on application, the CRISPR technology Market is categorized into Biomedical, Agricultural, Industrial, and Other Applications. In 2021, the biomedical segment dominated the market with the largest market share of 31% and market revenue of 697.8 Million. The biomedical applications sector is the most important market segment. The rising application of CRISPR gene-editing techniques in an expanding number of subfields within the biomedical sciences is a key factor in the increased revenue generated by this market segment.
- In 2021, the Pharmaceutical Companies and Biotechnology Companies segment accounted for the largest share of the market, with 35% and market revenue of 675.3 Million.
Based on end user, the CRISPR technology Market is categorized into Pharmaceutical Companies and Biotechnology Companies, Academics and Government Research Institutes, and Other End Users (CROs, etc.). In 2021, the Pharmaceutical Companies and Biotechnology Companies segment dominated the market with the largest market share of 35% and market revenue of 675.3 Million. The Pharmaceutical Companies and Biotechnology Companies segment is increasing due to the rise in the research sector.
Regional Segment Analysis of the CRISPR Technology Market
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- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, North America emerged as the largest market for the global CRISPR technology market, with a market share of around 34.67% and 2,251.21 Million of the market revenue in 2021.
- In 2021, North America emerged as the largest market for the global CRISPR technology market, with a market share of around 34.67% and 2,251.21 Million of the market revenue. It is anticipated that the CRISPR market in the North American region will experience significant growth during the forecast period due to the numerous benefits associated with the use of CRISPR technology and the numerous technological innovations and product approvals, and policies implemented by the government. The National Cancer Institute published an article in July 2020 titled "How CRISPR Is Changing Cancer Research and Treatment." The article stated that the first trial in the United States to test a CRISPR-made cancer therapy was launched in 2019 at the University of Pennsylvania to determine whether these treatments are safe. The trial's purpose was to determine whether or not these treatments were effective. The study's preliminary findings revealed that therapies based on CRISPR are safe. There was no indication of an immunological reaction to the CRISPR-edited cells, which supported this hypothesis. These kinds of initiatives on the part of the researchers are opening the way for subsequent studies that will use CRISPR technology to solve unmet needs in the medical field.
- The Asia-Pacific market is expected to grow at the fastest CAGR between 2021 and 2030, owing to the increasing demand for applications such as Biomedical, Agriculture, Industrial, and Others. Due to the expanding number of clinical studies now being conducted in the area and the growing body of studies into various technological processes. It is projected that the growing implementation of CRISPR technology in Asian countries such as China and Japan would contribute further to the market'sexpansion in the region.
The report offers the appropriate analysis of the key organizations/companies involved within the global CRISPR technology market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- Thermo Fisher Scientific (U.S.)
- Merck & Co. Inc. (U.S.)
- Genscript (U.S.)
- Sangamo Therapeutics Inc. (U.S.)
- Integrated DNA Technologies Inc. (U.S.)
- Lonza (Switzerland)
- New England Biolabs (U.S.)
- CRISPR THERAPEUTICS (Switzerland)
- Mirus Bio LLC (U.S.)
- Takara Bio Inc. (Japan)
- Abbott Laboratories (U.S.)
- ABio-Rad Laboratories Inc. (U.S.)
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- In February 2022, NTLA-2001 will be developed as a single-dose treatment for transthyretin (ATTR) amyloidosis. Intellia Therapeutics Inc. and Regeneron Pharmaceuticals Inc. announced positive interim data from an ongoing Phase 1 clinical study of their lead in vivo genome editing candidate, NTLA-2001.
- In January 2022, The leading CRISPR and microbiome biotechnology company, SNIPR BIOME ApS, made the announcement that the US Food and Drug Administration (FDA) had approved the Investigational New Drug (IND) Application for the first development candidate. This allowed the company to begin the first clinical trial in humans with SNIPR001. The study is expected to commence in the first half of 2022. It will explore the effects of SNIPR001 on the colonization of E. coli in the gut and the safety and tolerability of the treatment in healthy volunteers.
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global CRISPR technology market based on the below-mentioned segments:
Global CRISPR Technology Market, By Product
- Kits and Reagents
- Guide RNA
Global CRISPR Technology Market, By Application
- Others CRISPR
Global CRISPR Technology Market, By End User
- Pharmaceutical Companies and Biotechnology Companies
- Academics and Government Research Institutes
Global Technology Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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