The detailed analysis of the global CRISPR market shows that in terms of revenue, the industry is estimated to grow at a CAGR of 23.95% during the forecasting years 2019-2028. The market that was valued at $850.1 million in 2019, is predicted to reach $5872.4 million by the year 2028.
The chief factor enhancing the CRISPR (Clustered Regularly Interspaced Short Palindrome Repeats) market is the growing incidence of genetic ailments. Several start-ups and research firms have emerged in recent years. As per an article, the US Food and Drug Administration (FDA) has approved to perform a coronavirus test with the help of gene-editing technology CRISPR.
Scientists reported that roughly 20 human trials highlighting CRISPR are now in progress or soon will be hurled out. While the act of eradicating cells from the body, editing them and substituting them to help cure a patient is a productive pursuit, the ability to edit cells inside the body will open up the entire realm of human diseases to treatment and even eradication.
The study aims to get an overview of the CRISPR market in terms of various factors. Within this report, the key insights and the market definition regarding the CRISPR industry have been discussed. Also, regulatory outlook, value chain outlook, supply chain outlook, Porter’s five forces model and market attractiveness index have been studied in detail.
The growing lifestyle-oriented diseases, surging prevalence of genetic diseases, increasing application of drugs, rising aging population and incidence of genetic ailments are the drivers of the CRISPR market. However, the industry is facing market restraints like ethical and social issues associated with the technology and changing regulatory environment, which are obstructing the industry growth. Key opportunities like increased demand for CRISPR technology and advancements in the applications of gene-based therapy can be leveraged by the industry to gain the expected growth. However, challenges like alternate technologies and lack of awareness regarding the CRISPR technology are being faced by this market.
Geographies covered in the CRISPR market by region are:
• North America: The United States and Canada
• Europe: Germany, The United Kingdom, Spain, Italy, Russia, France and Rest of Europe
• Latin America: Mexico, Brazil and Rest of Latin America
• The Asia-Pacific: Japan, China, India, South Korea, ASEAN countries, New Zealand & Australia and Rest of Asia-Pacific
• The Middle East and Africa: Saudi Arabia, Turkey, South Africa, the United Arab Emirates and Rest of Middle East & Africa
The CRISPR market has been segmented as follows:
• By Product
o Plasmids
o Vectors
o Proteins
• CAS 9
• CPF1
• Other Proteins
o Designing Tools
o gRNA
o Control Kits
o Library
o Other Products
• By Application
o Genetic Engineering/Genome Editing
• Genetically Modified Organisms
• Agricultural Biotechnology
• Other Genome Editing/Genetic Engineering
o CRISPR Plasmid
o gRNA Database/Gene Library
o Human Stem Cells
o Cell Line Engineering
• By End-user
o Therapeutics and Drug Discovery
o Biological Research
o Agricultural Biotech
o Industrial Biotech
The key players engaged in the CRISPR market are Integrated DNA Technologies Inc, Genedata AG, Transposagen Bio (Hera BioLabs), Cellectis, Thermo Fisher Scientific Inc, Lonza, GeneCopoeia Inc, Precision Biosciences, CRISPR Therapeutics, Addgene, Horizon Discovery Ltd, New England Biolabs, Applied StemCell, GenScript, DiaCarta, Sangamo Therapeutics, Intellia Therapeutics Inc, Editas Medicine, Sigma-Aldrich (Merck KGaA), Caribou Biosciences Inc and Origene Technologies Inc.
The strategic analysis for each of these companies has been covered in detail. The CRISPR market by company profile helps to dive into the data about the key market players in this industry.