Vancouver, Dec. 12, 2023 (GLOBE NEWSWIRE) -- The global CRISPR Technology Market is projected to reach USD 11.64 billion by 2032, according to a recent report by Emergen Research. Certain factors that are driving the market growth include increasing government and personal funding, rising demand and adoption of CRISPR, and technological advancements.
The rise in funding, initiatives by the government to develop vaccines, medical technologies, drugs, devices are propellant towards the expansion of the genome editing market globally. As compared to previous systems, CRISPR has a lot of potentials and applications. Among these, one necessary application is that the use of CRISPR in understanding numerous genetic and epigenetic diseases as well as cancer.
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Study of cancer by the CRISPR system is usually done by 2 approaches i.e. turning on the growth suppressor genes and turning off the oncogenes. As per the precise capability of CRISPR, this method may also be used to make specific mutations in numerous cell lines so as to model the cancers. This sort of modeling may end up during a higher understanding of a range of diseases like cancer and therefore the ability to develop more effective medicine.
Scope of Research
| Report Details | Outcome |
| The market size value in 2019 | USD 696.7 Million |
| CAGR (2023 - 2032) | 24.2% |
| The revenue forecast in 2032 | USD 11.64 Billion |
| Base year for estimation | 2022 |
| Historical data | 2019 - 2021 |
| Forecast period | 2023 - 2032 |
| Quantitative units | Revenue in USD Billion, and CAGR from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product, Technology, End User. Region |
| Regional scope | North America; Europe; Asia Pacific; Central and South America; MEA |
| Country scope | U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey |
| Key companies profiled | ThermoFisher Scientific, Merck KGaA, GenScript, Integrated DNA Technologies, Horizon Discovery Group, Toolgen, Inc.,Synthego Corporation, New England Biolabs, Cellecta, Inc., Origene Technologies, Inc. |
| Customization scope | 10 hrs of free customization and expert consultation |
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MAJOR COMPANIES and Market Share Analysis
The market for CRISPR Technology is mainly comprised of traditional players. They invest heavily in research and development which often becomes a barrier for new entrants in the market. The manufacturers involved in the CRISPR Technology market are desegregated across the value chain. Some of the prominent players in the CRISPR Technology market include:
- F. Hoffmann-La Roche Ltd.
- AstraZeneca
- Caribou Biosciences, Inc.
- Genscript
- Editas Medicine, Inc.
- Egenesis
- Horizon Discovery Group Plc
- Danaher Corporation
- Cellectis
- Intellia Therapeutics, Inc.
- Addgene
- Lonza
Strategic Development
In March 2020, Mesa Biotech declared authorization for its Accula device, a hand-held COVID-19 diagnostic assay. On a similar note, in April 2020, CSIR lab declared the event of a paper-strip check for Covid-19 that uses CRISPR-Cas9 to focus and identify the genomic sequences of the virus. In contrast to the PCR tests, this check can be done at a lower price of USD 6.59. Therefore, such initiatives are expected to encourage alternative players to leverage this crisis and launch advanced novel products.
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Key Highlights From The Report
- Beam Therapeutics primarily owned by Feng Zhang started developing CRISPR officially declared in May 2018 because of which they were able to generate USD 87 million in series A funding. The main motive of the initiative was to utilize CRISPR technology in order to develop “precision genetic medicines”. This would further help to edit a single nucleotide base in the genome at one time.
- In US, the first trial of CRISPR in humans began in April 2019. Two patients are currently being treated as a part of a study being conducted by University of Pennsylvania. In line with NPR (National Public Radio, America), each have different types of cancer that are tough to treat and each have relapsed normal treatments. As a part of the trial, researchers are taking immune cells from the patients' bodies and editing them with CRISPR after which they’re putting them back. Such novel research are expected to drive the market growth throughout the region.
- With different versions of CRISPR-Cas being pursued by different companies, the landscape of genome editing is changing with a variety of advantages associated with it. This is primarily due to major discoveries of nucleic acids coupled with their sensitivity and reliability in approach. Furthermore, this entire procedure eliminated the requirement of an expensive PCR platform.
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Emergen Research has segmented the global CRISPR Technology Market on the basis of product type, applications, end user and region:
- Product Type Outlook (Revenue, USD Billion; 2019-2032)
- Enzymes
- Kits and Reagents
- Guide RNA
- Others
- Applications Outlook (Revenue, USD Billion; 2019-2032)
- Biomedical
- Agricultural
- Industrial
- Others
- End User Type Outlook (Revenue, USD Billion; 2019-2032)
- Pharmaceutical and Biotechnology Companies
- Academics and Government Research Institutes
- Contract Research Organizations (CROs)
- Others
- Regional Outlook (Revenue, USD Billion; 2019-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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