Due of the increased prevalence of diseases, as well as the growing interest in and use of CRISPR, the worldwide market for this technology is expanding rapidly. Additionally, it is anticipated that rising public and private investment as well as technical improvements would accelerate market expansion. The market for CRISPR technology is projected to develop, but issues including the high cost of CRISPR and ethical questions surrounding genetic research are predicted to impede this.
Market Regional Insights
The worldwide CRISPR market is divided into five regions based on geography: North America, Latin America, Africa, Europe, Middle East & Asia Pacific.
Due to the growing number of active clinical trials and the expansion of research and development in this area, North America is anticipated to obtain the greatest market share among the regions over the course of the projected period. For instance, the University of Pennsylvania started the first study to evaluate a CRISPR-created cancer medicine in the United States in 2019. A sort of immunotherapy in which the patient’s own immune cells are genetically altered to more effectively detect and eradicate their cancer is being tested in this trial, which is partially financed by the National Cancer Institute.
Due to the growing number of active clinical studies in this area, Asia Pacific is also anticipated to see rapid expansion in the global CRISPR technology market. For instance, a Japanese biotech start-up named Setsuro Tech received a CRISPR-Cas9 patent in March 2021 from Dublin-based ERS Genomics. Throughout order to expand the acceptance of CRISPR-Cas9 technology in the nation and generate considerable money in the near future, Setsuro Tech is creating cell and animal models based on this technology.
The market for CRISPR technology was valued at 2,251.2 Mn in 2021 and is expected to expand at a CAGR of 19.2% from 2022 to 2028 to reach US$ 7,715.6 Mn.
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An increasing number of ongoing clinical studies throughout the globe are expected to support the market growth for CRISPR technology during the course of the projected period. In March 2021, for instance, scientists from the Universities of California, San Francisco, Berkeley, and Los Angeles gained FDA clearance to launch a combined early-phase, human study of a CRISPR gene-correction treatment in sickle cell disease (SCD) patients utilising the patients’ own plasma stem cells.
Over the forecast period, an increase in the creation of innovative treatments is anticipated to fuel market expansion for CRISPR technology. For instance, the need for safe and effective treatments is rising quickly in tandem with the burden of disease. A research partnership between Cyrus Biotechnology, Inc. and the Broad Institute of MIT and Harvard was started in December 2019 with the goal of improving CRISPR for application in the creation of innovative therapies.
With the help of CRISPR, it is possible to quickly and precisely modify DNA inside a genome, which can significantly speed up the drug development process.
Players in the market for CRISPR technology should have considerable growth potential as a result of the global COVID-19 outbreak. For instance, the promise of CRISPR-Cas technology includes the ability to identify and cure infectious disorders like COVID-19. For their Sherlock CRISPR SARS-CoV-2 kit, which is designed to identify COVID-19 virus, Sherlock Biosciences acquired Emergency Use Authorization from the Food and Drug Administration (FDA) in May 2020. When compared to other tests that were then on the market, the Sherlock CRISPR SARS-CoV-2 kit could deliver findings in about an hour.
Players in the CRISPR technology industry can benefit from attractive development possibilities due to rising public and private financing. For instance, genome editing is a promising technique that could provide fresh approaches to treating illnesses, but there are still obstacles. Through the Somatic Cell Genome Editing Program, the National Institutes of Health (NIH) in October 2019 gave 24 more grants for a combined $86 million USD to researchers from around North America. Assuming sufficient financing, this raises the overall number of projects sponsored to 45 and the total investment over six years to almost $190 million.
The worldwide CRISPR technology market is anticipated to develop as CRISPR is increasingly used around the world. To edit a gene, for instance, CRISPR technology converts the DNA from a hazardous variation to a healthy one. This could be able to treat or prevent a hereditary condition. The QIAprep& CRISPR Kit and CRISPR Q-Primer Solutions were introduced by QIAGEN in June 2021, and they enable researchers to evaluate modified genetic material with unmatched speed and efficiency in order to ascertain how their interventions have impacted the function of the DNA sequence in question.
The worldwide CRISPR technology market is anticipated to rise as a result of technological developments in this field. In December 2020, researchers at UC Berkeley and the Gladstone Institutes created a novel COVID-19 diagnostic test based on CRISPR that, with the use of a smartphone camera, may deliver a positive or negative answer in 15 to 30 minutes. This test can help clinicians track the development of a COVID-19 infection and determine how infectious a patient might be.
The worldwide CRISPR technology market’s growth is anticipated to be constrained by CRISPR’s high cost. For instance, the price tags for CRISPR-based medicines currently reach US$ 1 million per treatment, making them extremely expensive. The cost of each gene therapy treatment is $ 2 million, according to Novartis. Although CRISPR has great therapeutic promise, it is expensive. Additionally, CRISPR medications for sizable patient populations are probably going to be prohibitively costly.
The market for CRISPR technology is anticipated to experience growing challenges due to ethical issues surrounding genetic research. Whenever genomics research is carried out on people with lower average incomes and literacy rates, for instance, a number of ethical concerns are brought up. Consequently, it is crucial that these difficulties are properly addressed in such a study. The ethical issues of genome editing have also been covered by the National Human Genome Research Institute.
The Product, Application, End-User, and Region segments are included in the worldwide CRISPR technology market study.
The market is divided into Enzymes, Kits & Reagents, Guide RNA, and Others based on the kind of product. As a result of the rise in demand for the adoption of CRISPR technology, the Enzymes Segment is anticipated to dominate the CRISPR technology market over the course of the projected year. The CRISPR-Cas9 technique may be used to modify the genes of organisms by combining Cas9 enzymes with CRISPR sequences.
Due to the growing amount of research being done on gene editing tools, the kits and reagents segment is also anticipated to experience considerable growth in the near future. The CRISPR kits are created especially to display the full range of gene editing byproducts that result from the CRISPR/Cas response. The groundbreaking CRISPR-Cas technology is utilised by the CRISPR kits through a creative teaching exercise that deepens our understanding of this potent genetic instrument.
The market is divided into Biomedical, Agricultural, Industrial, and Others segments based on application. Due to the rise in the number of diseases throughout the world, the biomedical segment is anticipated to dominate the CRISPR technology market over the forecast period. A promising technique called CRISPR may lead to the development of novel medical therapies.
Due to the expanding application of CRISPR technology in the agricultural sector, the agricultural segment is also predicted to experience substantial development in the near future. The CRISPR-Cas genome editing technique is a flexible tool that has been utilised to enhance crucial crop properties for agriculture, including quality, disease resistance, and herbicide tolerance.
The CRISPR technology market is divided into pharmaceutical and biotechnology firms, academic institutions, government research organisations, and others based on end users (CROs etc.). The expanding biopharmaceutical R&D and active participation of numerous pharmaceutical and biotechnology companies in the development of novel therapies are two factors that will likely cause the Pharmaceutical and Biotechnology Companies Segment to dominate the market over the course of the forecast period.
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A non-exclusive licencing agreement was struck by ERS Genomics Ltd. and GenScript Biotech Corporation in May 2021, granting GenScript access to ERS Genomics’ CRISPR/Cas9 patent portfolio.
A COVID-19 test based on CRISPR that provides findings in 30 minutes was created by Nanyang Technological University researchers in March 2021. Even after the virus has mutated, this test still finds it. This would motivate additional participants to take advantage of this chance.
Mammoth Biosciences and GlaxoSmithKline Plc joined forces in May 2020 to create a COVID-19 detection test that is simple to use, accurate, quick, and totally disposable utilising Mammoth Biosciences’ CRISPR-based DETECTR technology.
For the commercialization of the CRISPR-based SARS CoV-2 test, Mammoth Biosciences struck a deal with MilliporeSigma and Hamilton Company in October 2020.
Key Companies Insights
The market for CRISPR technology is quite crowded worldwide. This might be ascribed to the rise in demand for or acceptance of this technology, which has led to market participants concentrating on introducing fresh goods.
Danaher Corporation (Integrated DNA Technologies), Merck KGaA, PerkinElmer, Inc. (Horizon Discovery Ltd.), Thermo Fisher Scientific, Agilent Technologies, Inc., Origene Technologies, Inc., Cellecta, Inc., New England Biolabs, GeneCopoeia, Inc., and GenScript, are a few of the major players in the global CRISPR technology market.
Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 CRISPR Technology Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: CRISPR Technology Industry Impact
Chapter 2 Global CRISPR Technology Competition by Types, Applications, and Top Regions and Countries
2.1 Global CRISPR Technology (Volume and Value) by Type
2.3 Global CRISPR Technology (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global CRISPR Technology Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America CRISPR Technology Market Analysis
Chapter 6 East Asia CRISPR Technology Market Analysis
Chapter 7 Europe CRISPR Technology Market Analysis
Chapter 8 South Asia CRISPR Technology Market Analysis
Chapter 9 Southeast Asia CRISPR Technology Market Analysis
Chapter 10 Middle East CRISPR Technology Market Analysis
Chapter 11 Africa CRISPR Technology Market Analysis
Chapter 12 Oceania CRISPR Technology Market Analysis
Chapter 13 South America CRISPR Technology Market Analysis
Chapter 14 Company Profiles and Key Figures in CRISPR Technology Business
Chapter 15 Global CRISPR Technology Market Forecast (2022-2028)
Chapter 16 Conclusions
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