The global CRISPR technology market was valued at US$ 2,251.2 Mn in 2021 and is forecast to reach a value of US$ 7,715.6 Mn by 2028 at a CAGR of 19.2% between 2022 and 2028.
CRISPR is a tool for precise gene control and editing that may be used in a variety of biological systems. CRISPR is frequently used in the lab to modify genes in plant, bacterial, and animal models. In order to better understand the genetics of disease and generate better therapies, CRISPR is frequently employed in research using disease model organisms. The precise genome editing made possible by CRISPR technology allows for the quick and affordable production of models that faithfully represent the illness. CRISPR has most recently been used as an experimental test to find the new coronavirus. CRISPR is a technology that allows for gene editing, and as such, it has the potential to revolutionise society.
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Market Drivers:
During the projected period, an increase in the prevalence of diseases is anticipated to fuel market expansion for CRISPR technology. In order to better understand the genetics of disease and generate better therapies, CRISPR is frequently employed in research using disease model organisms. This is now the widely accepted approach employed in several cancer biology investigations. A relatively recent and extremely precise gene editing technique called CRISPR is revolutionising cancer research and treatment. Thus, it is anticipated that CRISPR technology will become more widely used as cancer incidence rises. Cancer was one of the top causes of mortality globally in 2020, accounting for close to 10 million deaths, according to the World Health Organization (WHO).
Market Opportunities:
The worldwide CRISPR technology market is projected to see considerable growth as a result of the COVID-19 epidemic. Researchers’ attention has been diverted by the epidemic to the creation of COVID-19 molecular diagnostic tools based on CRISPR technology. For instance, the use of CRISPR technology in the prevention and management of COVID-19 has significant promise. A COVID-19 test based on CRISPR that provides findings in 30 minutes was created by Nanyang Technological University researchers in March 2021. Encourage other players to take advantage of the fact that this test can still detect the virus after it has undergone a mutation.
Market Restraints:
Some significant factors that are anticipated to restrain the growth of the global CRISPR technology market include the high cost of CRISPR and ethical issues surrounding genetic research. When genomics research is carried out on communities who are characterised by lower average income and literacy levels, several ethical questions are addressed. As a result, it is crucial that these difficulties are properly addressed in this research. The ethical issues of genome editing have also been covered by the National Human Genome Research Institute.
Impact
The market is anticipated to have benefited from the COVID-19 epidemic as a result of a rise in demand for COVID-19 diagnostics. Diagnostic solutions based on CRISPR for COVID-19 have benefits such as rapid detection (30 minutes from raw sample to result), mobility, great sensitivity and accuracy, and no requirement for specialist lab equipment. The COVID-19 test kit uses gRNA that is complementary to a particular region of the viral genome to configure the CRISPR system to identify the genetic signature of SARS-CoV-2. CRISPR SARS-CoV-2 kit from Sherlock Biosciences, which is designed to identify the COVID-19 virus, was granted emergency use authorization by the US Food and Drug Administration (FDA) in May 2020.
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Market Trends
The expansion of the worldwide market for CRISPR technology is anticipated to be accelerated by an increase in the number of clinical studies. For example, SNIPR BIOME ApS said in January 2022 that the US Food and Drug Administration (FDA) had accepted the Investigational New Drug Application for the initial development candidate, allowing SNIPR BIOME ApS to start the first clinical study in humans using SNIPR001.
It is projected that as CRISPR technology usage and adoption increases, so will the global market for it. A CRISPR-based gene therapy product, for instance, was licenced for clinical trial testing in March 2021 by the American Food and Drug Administration in order to treat sickle cell disease brought on by genetic defects. The project will be run by academics from UC Berkeley and UC San Francisco.
Competitive Landscape
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, and GenScript, Inc., among others, are significant market participants in the global CRISPR technology market.
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Table of Content
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snapshot, By Product
- Market Snapshot, By Application
- Market Snapshot, By End User
- Market Snapshot, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Rising demand and adoption of CRISPR
- High cost of CRISPR
- The outbreak of COVID-19 (global pandemic)
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product launch/Approvals
- PEST Analysis
- PORTER’s Analysis
- Merger and Acquisition Scenario
- Market Dynamics
- Global CRISPR Technology Market – Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
- Global CRISPR Technology Market, By Product, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- Enzymes
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Kits & Reagents
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Guide RNA
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Introduction
- Global CRISPR Technology Market, Application, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- Biomedical
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Agricultural
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Industrial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Introduction
- Global CRISPR Technology Market, By End User, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- Pharmaceutical companies and Biotechnology Companies
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Academics and Government Research Institutes
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Others (CROs etc.)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Introduction
- Global CRISPR Technology Market, By Geography, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2028,(US$ Mn)
- Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2028,(US$ Mn)
- Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2028,(US$ Mn)
- Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2028,(US$ Mn)
- Middle East and Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2028,(US$ Mn)
- Rest of World
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2028,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2028,(US$ Mn)
- Introduction
- Competitive Landscape
- Merck KGaA
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Thermo Fisher Scientific
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Origene Technologies, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- New England Biolabs
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- GenScript
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- GeneCopoeia, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Cellecta, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Agilent Technologies, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- PerkinElmer, Inc. (Horizon Discovery Ltd.)
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Danaher Corporation (Integrated DNA Technologies)
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Analyst Views
- Merck KGaA
- Section
- Research Methodology
- About us
About Coherent Market Insights
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