CRISPR Market is Expected to Reach $7.1 Billion | MarketsandMarkets.
Chicago, July 28, 2023 (GLOBE NEWSWIRE) — In the near future, the CRISPR industry is poised for transformative breakthroughs that will revolutionize medicine, agriculture, and biotechnology. With continuous advancements in CRISPR gene-editing technology, its application will become more widespread and accessible, unlocking unprecedented opportunities for precision medicine and targeted therapeutics. Therapies tailored to individual genetic profiles will emerge, offering innovative treatments for previously incurable diseases. In agriculture, CRISPR will contribute to improved crop yields, disease resistance, and nutritional content, addressing global food security challenges. Additionally, the CRISPR industry will see increased focus on ethical considerations, regulatory frameworks, and safety protocols to ensure responsible and secure use of this powerful technology. As research and development accelerate, the near future holds the promise of a paradigm shift in various fields, fueling optimism for a healthier, more sustainable, and technologically advanced world powered by CRISPR.
CRISPR market in terms of revenue was estimated to be worth $3.4 Billion in 2023 and is poised to reach $7.1 Billion by 2028, growing at a CAGR of 15.6% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The major factors driving the growth of the CRISPR market are the advancements and increasing demand gene editing technology, and rising funding and investment of government and private organizations is expected to propel the growth of the market. However, ethical and regulatory considerations are expected to restrain market growth to a certain extent.
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CRISPR Market Scope:
|Market Revenue in 2023||$3.4 Billion|
|Estimated Value by 2028||$7.1 Billion|
|Growth Rate||Poised to grow at a CAGR of 15.6%|
|Market Size Available for||2021–2028|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Application, End User, and Region|
|Geographies Covered||North America, Europe, Asia Pacific, Latin America, and Middle East Africa|
|Report Highlights||Updated financial information / product portfolio of players|
|Key Market Opportunities||Development of new vaccine and treatment of genetic diseases|
|Key Market Drivers||Growing Investment and Funding from the Government for CRISPR Technology|
CRISPR market major players covered in the report, such as:
- Thermo Fisher Scientific Inc. (US)
- Merck KGaA (Germany)
- Agilent Technologies Inc. (US)
- Genscript Biotech Corporation (China)
- CRISPR Therapeutics AG (Switzerland)
- Editas Medicine (US)
- Intellia Therapeutics Inc. (US)
- Beam Therapeutics Inc. (US)
- Caribou Biosciences Inc. (US)
- Lonza Group Ltd. (Switzerland)
- Danaher Corporation (US)
- PerkinElmer Inc. (US)
- Hera Biolabs (US)
- OriGene Technologies Inc. (US)
- Cellecta Inc. (US)
- Mammoth Biosciences Inc. (US)
- Applied StemCell (US)
- New England Biolabs Inc. (US)
- ToolGen Inc. (South Korea)
- GeneCopoeia Inc. (US)
- Twist Bioscience Corporation (US)
- Synthego Corporation (US)
- eGenesis (US)
- Inscripta Inc. (US)
- Precision BioSciences Inc. (US)
- and Among Others
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This report categorizes the CRISPR market into the following segments:
CRISPR Market, by product & services
- CRISPR kits & Enzymes
- CRISPR Libraries
- Other Products (design tools, antibodies, other reagents)
- gRNA Design & Vector Construction
- Cell Line Engineering
- Screening Services
- Other Services (Epigenome Editing and Transcriptional Activation)
CRISPR Market, by Application
- Drug discovery & development
- Other applications (biofuels, veterinary)
CRISPR Market, by End User
- Pharmaceutical & biotechnology companies
- Academic & research institutes
- Others (CROs & CDMOs)
CRISPR Market, by region
- North America
- Rest of Europe (RoE)
- Asia Pacific (APAC)
- Rest of Asia Pacific (RoAPAC)
- Latin America
- Middle East Africa
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The key stakeholders in the CRISPR market include:
- Manufacturers and distributors of CRISPR products
- Pharmaceutical and biotechnology companies
- Market research and consulting firms
- R&D centers
- Researchers and scientists
- Academic & research institutes
Frequently Asked Questions (FAQs) of CRISPR Market:
Question 1. Who are the key players in the CRISPR market?
Answer: Key players in the CRISPR market include Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Genscript Biotech Corporation (China), CRISPR Therapeutics AG (Switzerland), Editas Medicine (US), Intellia Therapeutics, Inc. (US), Beam Therapeutics Inc. (US), Caribou Biosciences, Inc. (US), Lonza Group, Ltd. (Switzerland), Danaher Corporation (US), PerkinElmer, Inc. (US), Hera Biolabs (US), OriGene Technologies, Inc. (US), Cellecta, Inc. (US), Mammoth Biosciences, Inc. (US), Applied StemCell (US), New England Biolabs Inc. (US), ToolGen Inc. (South Korea), GeneCopoeia, Inc. (US), Twist Bioscience Corporation (US), Synthego Corporation (US), eGenesis (US), Inscripta, Inc. (US), and Precision BioSciences, Inc. (US).
Question 2: Which application segment dominates in the CRISPR market?
Answer: In 2023, the drug discovery & development segment accounted for the largest share of the CRISPR application market. The major driver fueling the growth of the CRISPR market in drug discovery and development is the exceptional precision and efficiency offered by CRISPR-Cas9 in editing and manipulating genes. This powerful genome editing tool enables scientists to selectively modify genes associated with diseases, providing valuable insights into disease mechanisms and potential therapeutic targets.
Question 3: Which end user segment of the CRISPR market is expected to witness lucrative growth?
Answer: Based on end user, the CRISPR market is broadly segmented into pharmaceutical & biotechnology companies, academic & research institutes, and others. The pharmaceutical & biotechnology companies segment accounted for the largest share of the end user segment in 2023. The growing demand for innovative and targeted therapies is a major driver for pharmaceutical and biotechnology companies in the CRISPR market.
Question 4: What is the market size for CRISPR market?
Answer: The CRISPR market is projected to reach USD 7.1 billion by 2028 from USD 2.9 billion in 2023, at a CAGR of 15.6% during the forecast period.
Question 5: What are the drivers and opportunities for CRISPR market?
Answer: The major factors driving the growth of the CRISPR market are the growing demand for CRISPR-based gene therapies, growing advancements of CRISPR technology, and growing investment and funding from the government for CRISPR technology is expected to propel the growth of the market. Moreover, development of new vaccine and treatment of genetic diseases are creating lucrative opportunities in the CRISPR market.
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- In May 2023, Thermo Fisher Scientific opens cell therapy facility at UCSF to accelerate development of breakthrough therapies. Thermo Fisher Scientific Inc. and the University of California, San Francisco accelerated advanced cell therapies for difficult to treat conditions, including cancer, rare diseases, and other illnesses, from a newly opened cGMP manufacturing facility adjacent to UCSF Medical Center’s Mission Bay campus.
- In April 2022, Thermo Fisher Scientific Inc. launched the new GMP-manufactured Gibco CTS TrueCut Cas9 Protein to support genome editing for research and manufacturing applications, including CAR T-cell therapy research.
- In November 2021, GenScript announced today that it has launched the GenWand Double-Stranded DNA (dsDNA) Service for the manufacture of CRISPR knock-in homology- directed repair (HDR) templates in T cell engineering.
- In October 2020, Merck announced that it signed agreements licensing its CRISPR technology to two companies PanCELLa, a cell therapy firm based in Toronto, Canada and Takara Bio USA, Inc., a biotechnology company based in Mountain View, California, USA.
- To define, describe, and forecast the CRISPR market based on products, application, and end user.
- To provide detailed information regarding the major factors influencing the growth of the market (such as drivers, restraints, challenges, opportunities, and trends).
- To strategically analyse micro markets with respect to individual growth trends, future prospects, and contributions to the overall CRISPR market.
- To analyse opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
- To strategically profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies.
- To track and analyze competitive developments such as acquisitions, product launches, expansions, agreements, partnerships, and R&D activities in the CRISPR market.
Gene Editing Market
NGS Sample Preparation Market
NGS-based RNA-sequencing Market
Next Generation Sequencing Market
Plant Breeding and CRISPR Plants Market
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