CRISPR Technology Market Report and Forecast 2023-2031

The CRISPR technology market size attained a value of USD 1.8 billion in 2022. By 2031, The market is likely to grow at a rate of 23.1% during the forecast period of 2023-2031 to attain a value of USD 11.9 billion by 2031. The growth can be attributed to the increase in the mergers and acquisitions of strategic key players.

CRISPR Technology Market: Introduction

The global CRISPR technology market is a rapidly growing market driven by the increasing demand for efficient and precise gene editing tools, the growing funding for genomics research, and advancements in CRISPR technology. The market refers to the market for the clustered regularly interspaced short palindromic repeats (CRISPR) technology, which is a revolutionary gene editing tool used to alter the DNA sequence of an organism. The market is being propelled by factors such as the increasing prevalence of genetic disorders, the rise in the geriatric population, and the growth of the biotechnology and pharmaceutical industries.

CRISPR Technology Market- Application and Usage

CRISPR technology has a wide range of applications and usage in various fields, including:
1. Gene therapy: CRISPR technology is used to treat genetic diseases by correcting or replacing the defective genes in a patient's cells. This approach has shown promising results in treating diseases such as sickle cell anaemia and cystic fibrosis.
2. Genetic engineering: CRISPR technology is used to modify the genes of plants and animals to enhance their characteristics, such as increased yield or disease resistance.
3. Drug discovery: CRISPR technology is used to identify new drug targets and test the effectiveness of potential drugs.
4. Agricultural biotechnology: CRISPR technology is used to develop crops that are resistant to pests and diseases, have a longer shelf life, and have better nutritional value.
5. Cancer research: CRISPR technology is used to study the genes that play a role in the development and progression of cancer, which could lead to the development of new cancer treatments.
6. Infectious disease research: CRISPR technology is used to study the genes of pathogens and develop new treatments for infectious diseases.

Overall, CRISPR technology has the potential to revolutionize many fields, from medicine to agriculture, by providing a precise and efficient tool for gene editing and modification.

CRISPR Technology Market Segmentations

The market can be categorised into type, Cas type, application, and end user.

Market Breakup by Type

• Cas9 and gRNA
• Design Tools
• Plasmid and Vectors
• Other Delivery System Products

Market Breakup by Cas Type

• Cas3 in Type I Systems
• Cas9 in Type II Systems
• Cas10 in Type III Systems

Market Breakup by Application

• Genome Engineering
• Disease Models
• Functional Genomics
• Knockdown/Activation
• Others

Market Breakup by End User

• Academic Research Organizations
• Biopharmaceutical Companies
• Agriculture Biotechnology Companies
• Contract Research Organizations (CROs)

CRISPR Technology Market Breakup by Region

North America

• United States of America
• Canada

Europe

• United Kingdom
• Germany
• France
• Italy
• Others

Asia Pacific

• China
• Japan
• India
• ASEAN
• Australia
• Others

Latin America

• Brazil
• Argentina
• Mexico
• Others

Middle East and Africa

• Saudi Arabia
• United Arab Emirates
• Nigeria
• South Africa
• Others

CRISPR Technology Market Scenario

The global CRISPR technology market is expected to witness significant growth in the coming years. The market is being propelled by factors such as the increasing demand for efficient and precise gene editing tools, the growing funding for genomics research, and advancements in CRISPR technology. Moreover, the rise in the geriatric population, the increasing prevalence of genetic disorders, and the growth of the biotechnology and pharmaceutical industries are also driving the growth of the market.

North America is the dominant market for CRISPR technology, followed by Europe and the Asia Pacific. The high prevalence of genetic disorders, the presence of key players in the region, and the growing funding for genomics research are driving the growth of the market in North America and Europe. The Asia Pacific region is expected to witness the highest CAGR during the forecast period, owing to the growing demand for personalized medicine, the increasing prevalence of genetic disorders, and the rising healthcare expenditure in the region. Moreover, the growing investments in research and development activities and the presence of a large patient pool are expected to fuel the growth of the CRISPR technology market in the Asia Pacific region.

The CRISPR technology market is expected to face challenges such as ethical concerns surrounding gene editing and the high cost of CRISPR technology. However, the market is expected to present numerous growth opportunities such as the increasing demand for personalized medicine, the rising investments in research and development activities, and the growing adoption of CRISPR technology in developing countries.

Key Players in the Global CRISPR Technology Market

The report gives an in-depth analysis of the key players involved in the CRISPR Technology market, sponsors manufacturing the drugs, and putting them through trials to get FDA approvals. The companies included in the market are as follows:

• Horizon Discovery Group plc
• Sangamo Therapeutics
• GenScript Biotech
• Integrated DNA Technologies, Inc
• Precision Biosciences
• Beam Therapeutics Inc
• Thermo Fisher Scientific Inc
• Intellia Therapeutics
• CRISPR Therapeutics AG
• Vertex Pharmaceuticals Incorporated
• New England Biolabs
• Agilent Technologies, Inc
• Merck KGaA