CRISPR Technology Market by Product, Service, Application, End User - Global Forecast to 2023
DUBLIN, Nov 22, 2018 /PRNewswire/ --
The "CRISPR Technology Market by Product, Service, Application, End User - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The market for CRISPR technology is expected to grow from USD 562 million in 2018 to USD 1,715 million by 2023, at a CAGR of 25% during the forecast period.
The rise in the availability of government and private funding and the adoption of CRISPR technology are the key factors driving the growth of this market.
By product and service, the CRISPR services segment is expected to be the fastest-growing in the CRISPR technology market during the forecast period.
The services segment forms the fastest-growing segment in the CRISPR technology market, by product and service. Based on service, the CRISPR services market is segmented into gRNA design and vector construction, cell line engineering, screening services, and other CRISPR services (mediated transcriptome editing and epigenome editing services). The cell line engineering services segment is expected to grow at the highest rate.
By application, the biomedical applications segment accounted for the largest share during the forecast period.
The major biomedical applications of CRISPR include gene therapy, drug discovery, and diagnostics. Across the globe, various gene therapy clinical trials are currently underway. These factors are expected to drive the adoption of CRISPR technology in this segment. In drug discovery applications, CRISPR is used to develop more physiologically relevant models (cell lines and animal models) that correlate better to the clinical setting and thereby reduce drug candidate failure in the initial steps. The ability to modify endogenous genes can help to study the effect of drugs on targets along with endogenous proteins, rather than having to rely on overexpression.
North America is expected to account for the largest market share during the forecast period.
North America is estimated to account for the largest share of the market in 2018. This is majorly attributed to the rising government and private funding, the presence of major pharma and gene therapy companies, and the adoption of CRISPR in several applications. Furthermore, crops that are treated with CRISPR-based gene editing are not considered as GMOs in US; this has attracted a number of agricultural companies to focus on the commercialization of CRISPR-edited crops.
Some of the key players of CRISPR in this region are Cellecta, Inc. (US), Thermo Fisher (US), GeneCopoeia, Inc. (US), Applied StemCell (US), Synthego Corporation (US), OriGene Technologies (US), Horizon Discovery (UK), Merck (Germany), and GenScript (US).
In line with the rising importance of CRISPR technology, Thermo Fisher Scientific has established its presence in diversified life sciences markets; this has helped it to minimize risks and dependency on any business segment. The company has a strong product portfolio and brand image, which enables it to strengthen its position in the market. The company has initiated a promotional campaign in which it conducts workshops and provides hands-on training to researchers in academic and research institutes working on CRISPR. This campaign is being organized to spread awareness on and promote CRISPR technology.
Recent Developments:
- In March 2018, Danaher acquired Integrated DNA Technologies to expand its genomics portfolio.
- In September 2017, Horizon Discovery acquired Dharmacon, Inc. from GE Healthcare (US) for USD 85 million.
- Between 2017 and 2018, Merck has secured patents in Australia, Canada, Europe, Israel, Singapore, South Korea, and China, covering foundational CRISPR technology, for its in-house CRISPR technology.
Key questions addressed by the report:
- Who are the major market players in the CRISPR technology market?
- What are the regional growth trends and the largest revenue-generating regions for CRISPR technology?
- What are the major applications of CRISPR technology?
- Who are the major end users of CRISPR technology?
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 CRISPR Technology: Market Overview
4.2 Europe: CRISPR Technology Market, By End User and Country (2018)
4.3 CRISPR Technology Market, By Applications, 2018
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Availability of Government and Private Funding
5.2.1.2 Growing Adoption of CRISPR
5.2.2 Restraints
5.2.2.1 Off-Target Activity and the Presence of Alternative Technologies
5.2.3 Opportunities
5.2.3.1 Emerging Markets
5.2.4 Challenges
5.2.4.1 Ethical Issues
5.2.4.2 Lack of Standardized Regulations
5.2.4.3 Pending Patent Issues & Results of Clinical Trials
5.2.4.4 High Costs of Using CRISPR
5.2.4.5 Dearth of Trained Professionals
6 CRISPR Technology Market, By Product & Service
6.1 Introduction
6.2 CRISPR Products
6.2.1 Growing R&D Activities to Drive Market Growth
6.2.2 CRISPR Enzymes
6.2.2.1 Enzymes to Account for the Largest Share of the CRISPR Products Market
6.2.3 CRISPR Libraries
6.2.3.1 Growing Interest of Researchers in the Development of Novel Therapies is Driving the Adoption of CRISPR Libraries
6.2.4 CRISPR Kits
6.2.4.1 Growth in Awareness and Increase in Research Activities are Key Factors Driving Market Growth
6.2.5 Other CRISPR Products
6.3 CRISPR Services
6.3.1 CRISPR Services to Register the Highest Growth During the Forecast Period
6.3.2 gRNA Design & Vector Construction
6.3.2.1 gRNA Design and Vector Construction Segment to Dominate the CRISPR Services Market During the Forecast Period
6.3.3 Cell Line Engineering
6.3.3.1 Cell Line Engineering to Register the Highest Growth in the CRISPR Services Market During the Forecast Period
6.3.4 Screening Services
6.3.4.1 CRISPR Screening Services are Required for the Genome-Wide Interrogation of Gene Function
6.3.5 Other CRISPR Services
7 CRISPR Technology Market, By Application
7.1 Introduction
7.2 Biomedical Applications
7.2.1 Accelerated Progress in Gene Therapy, Drug Discovery, and Diagnostics Will Drive the CRISPR Technology Market
7.3 Agricultural Applications
7.3.1 Agricultural Accelerators Set Up in the Us, Europe, and APAC are Helping With the Commercialization of New Crops
7.4 Industrial Applications
7.4.1 Start-Ups in the US Have Been Taking Advantage of the CRISPR Technology for Industrial Applications
7.5 Biological Research
7.5.1 Proof-Of-Concept Studies Help in Developing New Applications of CRISPR That Can Be Commercialized
8 CRISPR Technology Market, By End User
8.1 Introduction
8.2 Pharmaceutical and Biopharmaceutical Companies
8.2.1 Success of Clinical Trials Will Play A Key Role in the CRISPR Technology Market for Pharma and Biopharma Companies
8.3 Biotechnology Companies
8.3.1 Rising Interest of Bioagricultural and Bioindustrial Companies in CRISPR to Spur Market Growth
8.4 Academic & Research Institutes
8.4.1 Research Funding and Collaborations With Commercial Organizations Will Drive Growth of This Segment
8.5 Contract Research Organizations
8.5.1 Adoption of CRISPR Technology By Contract Research Organizations Will Be Key Driving Factor
9 CRISPR Technology Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 Strong Scientific and Industrial Base Will Ensure Sustained Growth in the Years to Come
9.2.2 Canada
9.2.2.1 Changes in Regulations Will Generate Opportunities in the CRISPR Technology Market
9.3 Europe
9.3.1 UK and Ireland
9.3.1.1 High Activity in the Area of CRISPR and CRISPR-Based Research
9.3.2 Germany
9.3.2.1 Strong Base of Pharma Companies Will Favor the Growth of CRISPR
9.3.3 France
9.3.3.1 Growing Support and Funds for CRISPR Research to Support the French Market
9.3.4 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.1.1 China to Register the Highest Growth Rate in the APAC CRISPR Technology Market During the Forecast Period
9.4.2 Japan
9.4.2.1 Growing Collaborations Between Universities and Pharma/Biotech Companies to Drive Market Growth
9.4.3 South Korea
9.4.3.1 Strong Private Investments in CRISPR Technology Applications is the Major Factor Driving Market Growth in the Country
9.4.4 Rest of APAC
9.5 Rest of the World
10 Competitive Landscape
10.1 Market Overview
10.2 Market Ranking Analysis (2017)
10.3 Competitive Situation and Trends
10.3.1 Collaborations, Agreements, and Partnerships
10.3.2 Product Launches and Approvals
10.3.3 Acquisitions
10.3.4 Patent Approvals
10.3.5 Other Developments
11 Company Profiles
- Agilent Technologies
- Cellecta, Inc.
- GeneCopoeia, Inc.
- GenScript
- Horizon Discovery Group
- Integrated DNA Technologies (IDT)
- Merck KGaA
- New England Biolabs
- Origene Technologies, Inc.
- Synthego Corporation
- Thermo Fisher Scientific
- Toolgen, Inc.
For more information about this report visit https://www.researchandmarkets.com/research/r9g3t3/crispr_technology?w=5
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