LONDON, Jan. 12, 2017 /PRNewswire/ -- KEY FINDINGS
Asia Pacific is a dominating region for CRISPR market with its applications like agriculture and animal breeding. Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) is fragments of prokaryotic DNA containing short redundancies of base sequences. The global CRISPR Market is estimated to grow with an approximate CAGR of 35% during the forecasted period of 2016-2022. The global CRISPR market is segmented on the basis of geographical analysis, product and end-user.
Increasing demand in drug discovery, late pregnancies leading to birth disorders, synthetic genes leading the way; aging genetic disorders and investment in path breaking research technology are the drivers for CRISPR Market. Drug discovery technology market plays a dominant role in boosting the CRISPR market. Genome editing has been revolutionized with the discovery of the CRISPR-CAS9 system from streptococcus pyogenes.
The possible misuse of CRISPR gene editing tool, slow growth and lack of healthcare budgets in developing countries are some of the restraints for CRISPR Market. CRISPR is linked with various applications such as Genome editing, genetic engineering etc. These applications are considered controversial due to the ethical concerns.
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