According to a new market intelligence report by BIS Research, titled "Global CRISPR Technology Market - Analysis and Forecast, 2018-2027", the global CRISPR technology market is anticipated to grow to $10.55 billion by 2027. The global CRISPR technology market is projected to grow at a CAGR of 34.46% between the years 2018 and 2027, aided by the remarkable growth in the fields of therapeutic & drug discovery, biological research, and agricultural biotech.
Genetic diseases approximately constitute for 25% of global economic burden for disease. The rising prevalence of several genetic diseases has significantly elevated the requirement for improved gene targeting methods with greater efficiency. The recent advancements in sequencing and genomic technologies has paved pathway for the development of efficient genome editing technology, named CRISPR. Owing to its simplicity, multiplexing ability, specificity, and cost effectiveness, CRISPR technology has gained wide prominence across life science and healthcare industry. Consequently, substantial investments have been made by key stakeholders of healthcare industry to promote the growth of CRISPR technology market. Further, the increasing demand for application specific components for genome editing procedures, to significantly impact the innovations in pharmaceutical and biotechnology industry, is bolstering the growth of CRISPR technology market.
The current research environment demands efficient genome engineering tools to work in a high-throughput manner which can be attained by the development of target-specific guide RNAs and application-specific proteins, for CRISPR technology. Besides reducing turn-around time, CRISPR technology also provides nuclease engineering, control & specificity, directed editing, and precise delivery. Furthermore, the CRISPR technology market requires relaxation in the legal requirements and regulations to simplify the R&D as well as the approval process for the companies. Thus, providing companies to devote more time to solve complex challenges by innovating new components or redesigning experimental protocols to attain better process efficiency, by using the CRISPR technology.
According to Pushplata Patel an analyst at BIS Research "North America is the leading contributor to the global CRISPR technology market. The contribution of North America to the global CRISPR technology market was valued to be approximately 39% in 2017. The fields such as drug discovery, and agricultural biotech are expected to progress at significant rates, and the significant investments made by biopharmaceutical and biotechnology companies in these fields are consequentially fuelling the growth of the North America CRISPR technology market. However, Europe is expected to grow at an impressive 36.80% CAGR during the forecast period. Additionally, the Asia Pacific market contributed approximately 29% of the total global market value in 2017."
The emergence of the CRISPR technology has enabled the reduction in turnaround time, increased accuracy and efficiency, reduced the complexity, along with enhancing the safety, and also promoted innovations for genome engineering
Currently, the therapeutics and drug discovery application specific CRISPR technology is acknowledged to be the major contributor to the global CRISPR technology market and is expected to grow at 34.29% CAGR during the forecast period
The global CRISPR technology market constitutes significant contributions from several conglomerate and small-medium enterprises. More than 500 products from approximately 30 companies are available in the market.
The protein segment is expected to witness a robust CAGR of 38.97% during the forecast period. Further, the CRISPR technology market for Europe is anticipated to witness remarkable growth, owing to the increasing number of collaborations and partnerships by several companies, such as Merck KGaA and Evotech AG for application-specific CRISPR based solutions to meet the growing industry demand.
This market intelligence report provides a multidimensional view of the global CRISPR technology market regarding market size and growth potential. It aims at answering various aspects of the global CRISPR technology market with the help of the key factors driving the market, threats that can inhibit the overall market growth, and the current growth opportunities that are going to shape the future trajectory of the market expansion.
Furthermore, the competitive landscape chapter in the report explains the competitive nature of the global market and enables the reader to get acquainted with the recent market activities, such as product launches, regulatory clearance, and certifications, partnerships, collaborations, business expansions as well as mergers and acquisitions, among others. The research report provides a comprehensive analysis of the product sales, and manufacturers and trend analysis by segments and demand analysis by regions.
This report is a meticulous compilation of research on more than 32 players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 15 leading companies, market participants, and vendors. The report also profiles 21 companies including several key players, such as Agilent Technologies, Inc., Applied StemCell, Inc., Cellecta, Inc., Horizon Discovery plc, EdiGene, Inc., GeneCopoeia, Inc., Genedata AG, GeneScript, Integrated DNA Technologies (IDT), Inc., Mirus Bio LLC, New England Biolabs, OriGene Technologies, Inc., Oxford Genetics Ltd., Rockland Immunochemicals, Inc., Merck KGaA, Synthego Corporation, System Biosciences, LLC, Takara Bio Inc., Thermo Fisher Scientific, transOMIC technologies inc., and Transposagen Biopharmaceuticals.
Key questions answered in the report:
How did the CRISPR technology market evolve, and what is its scope in the future?
What are the major market drivers, challenges, and opportunities in the global CRISPR technology market?
What are the key developmental strategies that are being implemented by the key players to sustain in this market?
How will the influencing factors affect the industry attractiveness?
How is CRISPR technology being utilized for the development of therapeutics?
How will investments by public & private companies and government organizations affect the global CRISPR technology market?
What was the market size of the leading segments and sub-segments of the global CRISPR technology market in 2017?
How will the industry evolve during the forecast period 2018- 2027?
What will be the growth rate of the CRISPR technology during the forecast period?
How will each segment of the global CRISPR technology market grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2027?
Which product segment and application segment is expected to register the highest CAGR for the CRISPR technology market?
What are the major benefits of the implementation of the CRISPR technology in the different field of applications including biological research, agricultural biotech, industrial biotech, and therapeutics & drug discovery?
What is the market size of CRISPR technology in different countries of the world?
Which region will contribute to the highest sales of CRISPR technology?
Who are the key players in the CRISPR technology market and what are their contributions?
BIS Research is a global B2B market intelligence and advisory firm which focuses on those emerging trends in technology which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on Healthcare, Automotive, Aerospace and Agriculture and other key industries that are seeing rapid technological disruption.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data and other important market parameters useful in the strategic decision making for senior management.
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