Global CRISPR market is estimated to grow at a CAGR of 33.26% during the forecast period to reach a total market size of US$3086.697 million by 2023 from US$551.242 million in 2017.
The global CRISPR market is a growing industry with major investments from developed countries. Global genome editing market is witnessing high growth rate after the discovery of cutting-edge tool- CRISPR, a shorthand for Clustered Regularly Interspaced Short Palindromic Repeats. CRISPR-based tools are increasingly being adopted by the enterprises globally for new developments in fields like genome editing, genetic engineering, biotechnology, pharmaceutical, and agriculture.
CRISPR-based products are applicable to any system containing genome. Gene designing tools were launched by many firms in the market due to high target efficiency and wide applications. Design tools are the major product segment of the global CRISPR market, followed by CAS9 and G RNA in terms of market share. A major vendor, Thermo Fisher Scientific launched design tools based on CRISPR, to simplify its application in genome editing and gene synthesis.
After the introduction of CRISPR-based tools for genome manipulations in Genetic Engineering, the segment is witnessing a significant growth. Applications of CRISPR-based tools in genetic engineering is expected to grow at a substantial rate over the forecast period. G-RNA databases/libraries form a major segment of the global CRISPR market. Application of CRISPR-based tools in cell line editing and gene manipulations will also grow at a moderate rate over the next five years.
Globally, North America held the significant market share of the global CRISPR market in 2017. The US-based gene editing market is witnessing a robust growth of CRISPR-based technologies. Companies from Germany, Switzerland and other European countries are showing interest in CRISPR research and development by continuously investing in the global CRISPR-based tools along with many firms acquiring patent rights in specific regions for various CRISPR-based tools.
Genome editing, biotechnology, Agricultural crops, drug discovery are receiving huge investments from prominent firms. CRISPR Industry has several major players such as Addgene, CRISPR Therapeutics, GE Healthcare Dharmacon Inc., GenScript Biotech Corporation, Integrated DNA Technologies, Inc., Intellia Therapeutics, Inc., Thermo Fisher Scientific, Inc., and Transposagen Biopharmaceuticals, Inc. among others. Vendors of these solutions are exploring possibilities of various applications of CRISPR-CAs9 tool in gene therapy have raised more than US$ 500 million. Bayer and CRISPR Therapeutics collaborated to form a major joint venture Casebia Therapeutics in 2016 to explore possibilities of curing genetic diseases using CRISPR-based tools.
Major industry players profiled as part of the report Addgene, CRISPR Therapeutics, Editas Medicine, Egenesis, Inc., and GE Healthcare among others.