Increasing importance of CRISPR/Cas9 technology in gene manipulation and engineering and rising application of the technology in gene therapy and other biomedical discoveries are some key factors expected to drive market growth
According to Emergen Research, the global CRISPR/CAS9 technology market size was USD 1,404.6 million in 2020 and is expected to reach USD 6,221 million in 2028 and register a revenue CAGR of 20.4% during the forecast period, 2021-2028.
Market Dynamics:
CRISPR/CAS9 system has emerged as a critical genome editing tools and has been widely applied for various biomedical discoveries over the recent past. Rapid progress in development of programmable nucleases such as transcription activator-like effector nucleases (TALEN), zinc-finger nucleases, and clustered regularly interspaced short palindromic repeat (CRISPR)- Cas-associated nucleases has accelerated the progress of gene editing into its clinical applications. Applications of CRISPR/CAS9 technology has expanded with its use in modulating gene expression – from correcting or altering genomic sequence to epigenetic and transcriptional modifications. Increasing use of CRISPR/Cas9 technology with stem cell transplantation for gene therapy, in drug discovery and development, and in development of therapeutic approaches for complex disorders such as heart diseases, HIV, and cancer, among others is a key factor expected to drive market revenue growth over the forecast period.
Claim Your FREE Sample Copy with Table of content@ https://www.emergenresearch.com/request-sample/768
Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) is a crucial component of bacterial immune systems that can cleave DNA sequences and has been repurposed as a robust gene editing tool. CRISPR acts as a precise pair of “molecular scissors” that can cut the target DNA sequence with the help of customizable guide. CRISPR system comprises two main parts – a CRISPR-associated (Cas) nuclease that binds to the target DNA sequence to cleave it, and a guide RNA sequence (gRNA) that guides Cas nuclease to the target DNA sequence.
CRISPR-Cas9 technology enables researchers and scientists to rewrite a genetic code in any organism. The technology has proved to be a robust, cheaper, simpler, and highly precise genome editing technique as compared to conventional techniques. CRISPR has been widely applied in gene therapy to cure rare and severe genetic disorders and in agriculture to develop drought-resistant crops. Over the recent past, the technique has been widely adopted for many purposes such as RNA editing, base and prime editing, diagnostics, and live imaging.
CRISPR/CAS9 technology has enabled precise, large-scale screening studies for drug research and discovery allowing researchers to properly understand the relationship between genotype and phenotype. Knockouts of multiple genes in healthy cell lines have helped researchers understand the role of specific genes in disease pathogenesis and identify target genes in diseased cell lines for drug development. CRISPR technology has the potential to cure a wide range of genetic diseases including blood disorders, cancer, and neurodegenerative diseases, among others.
In addition, CRISPR/CAS9 technology has also been widely used as a potential diagnostic and therapeutic tool amid the COVID-19 pandemic. These are some other key factors expected to significantly contribute to revenue growth of the market going ahead. However, ethical issues associated with CRISPR/CAS9 technology such as possibility of off-target effects and mosaicism, lack of accessibility due to high costs, and need for controlled clinical trials with standardized review are some key factors expected to restrain market growth to a significant extent over the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Check Our Prices@ https://www.emergenresearch.com/select-license/768
Product Segment to Register Robust Revenue Growth:
Product segment is expected to register robust revenue CAGR over the forecast period attributable to increasing development of advanced tools and CRISPR/CAS9 genome editing kits at affordable prices and growing demand for these products from research and clinical laboratories. CRISPR/CAS9 gene editing kits enable efficient genome engineering, gene knockouts, and genome cleavage for various applications such as gene therapy, drug discovery and development, crop modification, cancer immunotherapy, and in other diagnostic applications and this is further expected to fuel to revenue growth of the segment going ahead.
Biomedical Segment to Account for a Significantly Large Revenue Share:
Increasing use of CRISPR/CAS9 technology in biomedical discoveries and genetic engineering to treat a broad range of disease including single-gene disorders such as sickle cell anemia, hemophilia, and cystic fibrosis, among others are key factors expected to contribute to revenue share of the biomedical segment.
Biotechnology & Pharmaceutical Companies Segment to Dominate Other End-use Segments:
Biotechnology & pharmaceutical companies segment is expected to dominate other end-use segments in terms of revenue share over the forecast period attributable to rapid adoption of CRISPR/CAS9 technology to develop advanced medical diagnostic tools, in stem cell research, and to develop transgenic animal models for accurately demonstrate human diseases.
Asia Pacific to Register Robust Revenue CAGR:
Asia Pacific market revenue is expected to expand at a robust revenue CAGR over the forecast period attributable to increasing research activities on CRISPR/CAS9 technology in APAC countries such as China and India, growing application of the technology in agriculture to develop crops with enhanced resistance to harsh environmental conditions, for genetic engineering in animal models, and increasing number of government awards and funds to accelerate CRISPR/CAS9 R&D activities.
Major Companies in the Market include:
- Boston Merck KGaA
- AstraZeneca PLC
- GenScript
- eGenesis
- Caribou Biosciences, Inc.
- Horizon Discovery Group Plc.
- Lonza
- Thermo Fisher Scientific, Inc.
- Hera BioLabs
- Takara Bio Inc.
For the purpose of this report, Emergen Research has segmented the global CRISPR/CAS 9 Technology market on the basis of product & service, application, end-use, and region:
Product & Service Outlook (Revenue, USD Million; 2018–2028)
- Product
- Kits & Enzymes
- Vector-based Cas
- DNA-free Cas
- Libraries
- Design Tool
- Antibodies
- Others
- Kits & Enzymes
- Service
- Cell Line Engineering
- gRNA Design
- Microbial Gene Editing
- DNA Synthesis
Application Outlook (Revenue, USD Million; 2018–2028)
- Biomedical
- Genome Engineering
- Disease Model Studies
- Functional Genomics
- Epigenetics
- Others
- Agricultural
End-use Outlook (Revenue, USD Million; 2018–2028)
- Biotechnology & Pharmaceutical Companies
- Contract Research Organizations (CROs)
- Academics & Government Research Institutes
Click to access the Report Study, Read key highlights of the Report and Look at Projected Trends: https://www.emergenresearch.com/industry-report/crispr-cas-9-technology-market
Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- K.
- France
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- A.E.
- Israel
- Rest of MEA
Take a Look at our Related Reports:
Mobile C-Arms Market By Type (Full Size, Mini), By Application (Orthopedics & Trauma, Neurology, Cardiology, Pain Management, Gastroenterology, Oncology) and By Regions Forecasts to 2027
Asthma Spacers Market By Type (Inspirease, Optichamber, Aerochamber, Volumatic), By Distribution Channel (E-commerce, Retail Pharmacy, Hospital Pharmacy), By End-Use (Homecare, Clinics & Hospitals, Others), By Region Forecasts to 2027
Laparoscopy and Endoscopy Devices Market By Device Type, By Application, By End-users, Forecasts to 2027
Ambulatory Device Market By Product (Infusion Systems, Monitoring Devices, Records), By Application (Drug Delivery, ECG Monitoring, Blood Glucose Monitoring, Blood Pressure Monitoring, EEG Monitoring), By End User, and By Region, Forecasts to 2027
Molecular Forensics Market By Product (Instruments, Software), By Technology (Polymerase Chain Reaction (PCR), Capillary Electrophoresis, NGS), By Application (Radioactive Toxicology, Nucleic Acid Analysis), By End User, and By Region, Forecasts to 2027
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Facebook | LinkedIn | Twitter | Blogs
Read Full Press Release: https://www.emergenresearch.com/press-release/global-crispr-cas-9-technology-market