Press Release Description

Rising Funding for Genetic Research to Propel the Market Progression During 2022-2027

The Global CRISPR Gene Editing Market is projected to grow at a CAGR of 18.24% during the forecast period, 2022-27, says MarkNtel Advisors in their recent research report. The rapid increase in demand for genome editing technologies for treating hereditary & chronic disorders in humans is attributed to the positive growth of the CRISPR Gene Editing market. In addition, the rising implementation of CRISPR genome editing technology coupled with synthetic gene demand in various biopharmaceutical & biotechnology domains for research & development has primarily driven the CRISPR gene editing market over the past few years.

Furthermore, an increasing number of clinical trials associated with CRISPR technology are being performed by several market players & research institutes to develop the treatment for sickle cell diseases, beta-thalassemia, solid tumors, myeloma, and hematologic malignancies, among others. For instance, in 2018, Vertex Pharmaceutical launched the first-in-human trial of CRISPR gene editing technology for beta-thalassemia, in Germany. The COVID-19 pandemic is expected to drive the Global CRISPR Gene Editing market during the forecast years.

Moreover, the demand for efficient diagnostic tools has increased with the rising active cases of COVID-19, which subsequently encouraged the players operating in the CRISPR & CAS Gene market to develop diagnostic technologies for COVID-19 detection. Additionally, the increased product approvals for emergency use to combat the pandemic also fueled the market revenue of the CRISPR Gene Editing market across the globe.

Further, the increased product approvals enable the leading market players to expand their product portfolio & strengthen their presence in the CRISPR Gene Editing market. For instance, in 2020, the Drug Controller General of India (DCGI) approved the commercial launch of FELUDA, which is a COVID-19 detection kit developed by the TATA Group using CRISPR technology, further states the research report, "Global CRISPR Gene Editing Market Analysis, 2022-2027."

Biomedical Application Segment Holds a Prominent Share in the Market

Based on the application, the market bifurcates into Agriculture, Industrial, Biomedical, and Others. Of them, the Biomedical application held a prominent share in the CRISPR Gene Editing market on account of considerable development in drug discovery and cell & gene therapies across the world.

In addition, the commercial availability of CRISPR screening libraries from various sources has enabled scientists to make use of this technology in the functional genomics field. Moreover, CRISPR-Cas9 has proved to be a useful tool for target specification gene modification & allows the identification of drug targets or for drug validation or target optimization.

CRISPR Product Segment to Dominate the Market in the Forecasted Years

Based on the product type, the market divides into CRISPR Products & CRISPR Services. Among them, the CRISPR Products type dominates the market & is expected to remain the same during the forecasted years as well, owing to the presence of thousands of plasmids based on library type, species, and library size in the CRISPR pooled libraries.

Moreover, the kits & enzymes have a significant role in the surging demand for CRISPR product segments in various biopharmaceutical & biotechnology companies. Additionally, the growing adoption of Cas9 for specific genome disruption & replacement is further driving the demand for several products used in the CRISPR gene editing procedures.

North America to Acquire a Significant Share in the Market

Geographically, North America dominates the CRISPR Gene Editing market due to the presence of large biopharmaceutical companies & the rising number of clinical research & development in the region. Moreover, the growing prevalence of rare diseases in the US & Canada is further propelling the demand for CRISPR genome editing technologies in the region. According to the National Institute of Health, there are approximately 7,000 rare diseases affecting around 25- 30 million Americans as of 2019.

Furthermore, the various government initiatives & growing clinical research in the field of genomics (through GAAP) in Canada have increased the growth of the CRISPR Gene Editing market across North America, reveals MarkNtel Advisors in their research report, "Global CRISPR Gene Editing Market Analysis, 2022-2027."

Key Competitors

According to MarkNtel Advisors, the leading players in the Global CRISPR Gene Editing Market are Abcam Plc., Applied StemCell Inc., Agilent Technologies Inc., Cellecta Inc., CRISPR Therapeutics AG, Thermo Fischer Scientific Inc., GeneCopoeia Inc., GeneScript Biotech Corporation, Horizon Discovery Group PLC, Integrated DNA Technologies Inc., Merck KGaA, New England Biolabs, Inc., Origene Technologies Inc., Rockland Immunochemicals Inc., and Others.

 Key Questions Answered in the Study

  1. What are the current & future trends in the Global CRISPR Gene Editing Market?
  2. How has the industry been evolving in terms of geography & product adoption?
  3. How has the competition been shaping across various countries, followed by their comparative landscape?
  4. What are the key growth drivers & challenges for the Global CRISPR Gene Editing Market?
  5. What are the customer orientation, purchase behavior, and expectations from product manufacturers across various regions?

Market Segmentation:

  1. By Product Type (CRISPR Products (Kits & Enzymes, Libraries, Design Tools, Antibodies Others), CRISPR Services (gRNA Design & Vector Construction, Cell line & Engineering, Screening Services, Others))
  2. By Application (Agricultural, Industrial, Biomedical (Gene Therapy, Drug Discovery, Diagnostics), Others)
  3. By End User (Academic Institutions & Research Centers, Biotechnology Companies, Contract Research Organizations (CROs), Pharmaceutical & Biopharmaceutical Companies)
  4. By Region (North America, South America, Europe, Asia-Pacific, the Middle East & Africa)
  5. By Company (Abcam Plc., Applied StemCell Inc., Agilent Technologies Inc., Cellecta Inc., CRISPR Therapeutics AG, Thermo Fischer Scientific Inc., GeneCopoeia Inc., GeneScript Biotech Corporation, Horizon Discovery Group PLC, Integrated DNA Technologies Inc., Merck KGaA, New England Biolabs, Inc., Origene Technologies Inc., Rockland Immunochemicals Inc., Others)