The Global CRISPR Market to Reach $5872.4 Million by 2028

As per a Triton Market Research report, the global CRISPR market, which generated $850.1 million in 2019, will proliferate at a CAGR of 23.95% by the year 2028.

A study by Triton Market Research with the title ‘Global CRISPR Market,’ covers the Global Analysis and Forecast for 2019-2028 by Product (Plasmids, Design Tools, Vectors, Proteins [Cpf1, Cas9, Other Proteins], Library, Control Kits, GRNA, Other Products), by Application (Genome Editing/Genetic Engineering [Agricultural Biotechnology, Genetically Modified Organisms, Other Genome Editing/Genetic Engineering], Human Stem cells, CRISPR Plasmid, gRNA Database/Gene Library, Cell Line Engineering), By End-user (Industrial Biotech, Therapeutics & Drug Discovery, Agricultural Biotech, Biological Research), and by Geographical Region (Asia-Pacific, Latin America, North America, Europe, Middle East and Africa).

CRISPR (Clustered Regularly Interspaced Short Palindrome Repeats) is a tool used by the researchers for genome editing. CRISPR finds its applications in changing the germline of people, animals and crops.

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As per the report, the global CRISPR market is expected to gain $5872.4 million by 2028, progressing with a CAGR of 23.95% in the projected years 2019-2028. The high prevalence of lifestyle-oriented diseases in emerging economies like India and China and their growing demand for a better healthcare system are primarily driving the growth of the global CRISPR market. The increasing cases of genetic diseases like cancer, hemophilia, cystic fibrosis and thalassemia across the world are giving rise to an increased demand for advanced treatments.

The rising geriatric population is leading to increased healthcare expenditure, which is also favoring market growth. Besides, changing environmental factors are increasing the incidence of genetic ailments, which is further pushing the demand for CRISPR technology. However, the changing regulatory environment is hampering CRISPR market growth. Furthermore, there is a likelihood of generation of unpredictable characteristics in genetically modified organisms. This may lead to some ethical and social issues.

The market for CRISPR is classified into three main segments product, application and end-user. The first main segment, product is divided into plasmids, design tools, vectors, proteins, library, control kits, GRNA and other products. Within protein segment, the market is segmented into Cpf1, Cas9 and other proteins. The second segment, application is segmented into genome editing/ genetic engineering, human stem cells, CRISPR plasmid, gRNA database/gene library and cell line engineering. While the sub-segment, genome editing/genetic engineering includes agricultural biotechnology, genetically modified organisms and other genome editing/genetic engineering. The third main segment, end-user, is classified into industrial biotech, therapeutics & drug discovery, agricultural biotech and biological research.

According to the geographical outlook, Asia-Pacific is anticipated to be the fastest-growing region for the CRISPR market in the forthcoming period. The increasing research work on CRISPR technology in countries like China and Japan is likely to contribute to the growth of the regional market. The growing pharmaceutical industry is also fueling the demand for such advanced technologies. Similarly, North America will be the largest CRISPR market in the world. The rising development in new drug research & discovery, coupled with the high investment in this technology & gene editing, will instigate the growth of the studied market.

Some of the key companies involved in the CRISPR market are Thermo Fisher Scientific Inc, Sigma-Aldrich (Merck KGaA), Origene Technologies Inc, GeneCopoeia Inc, Caribou Biosciences Inc, Horizon Discovery Ltd, Editas Medicine, Integrated DNA Technologies Inc, Transposagen Bio (Hera BioLabs), Precision Biosciences, New England Biolabs, Cellectis, Intellia Therapeutics Inc, Addgene, Genedata AG, Lonza, DiaCarta, Sangamo Therapeutics, GenScript, Applied StemCell and CRISPR Therapeutics.

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Question & Answer: CRISPR Market

Question 1: Which are the factors primarily driving the growth of the global CRISPR market?
Answer: The high prevalence of lifestyle-oriented diseases in emerging economies like India and China and their growing demand for a better healthcare system are primarily driving the growth of the global CRISPR market. The increasing cases of genetic diseases like cancer, hemophilia, cystic fibrosis and thalassemia across the world are giving rise to an increased demand for advanced treatments. The rising geriatric population is leading to increased healthcare expenditure, which is also favoring market growth. Besides, changing environmental factors are increasing the incidence of genetic ailments, which is further pushing the demand for CRISPR technology.

Question 2: What factors are hampering CRISPR market growth?
Answer: The changing regulatory environment is hampering the CRISPR market growth. Furthermore, there is a likelihood of generation of unpredictable characteristics in genetically modified organisms. This may lead to some ethical and social issues.

Question 3: How is the Asia-Pacific and North America influencing the CRISPR market outlook?
Answer: According to the geographical outlook, Asia-Pacific is anticipated to be the fastest-growing region for the CRISPR market in the forthcoming period. The increasing research work on CRISPR technology in countries like China and Japan is likely to contribute to the growth of the regional market. The growing pharmaceutical industry is also fueling the demand for such advanced technologies. Similarly, North America will be the largest CRISPR market in the world. The rising development in new drug research & discovery, coupled with the high investment in this technology & gene editing, will instigate the growth of the studied market.

Question 4: Which are the key companies involved in the CRISPR market?
Answer: Some of the key companies involved in the CRISPR market are Thermo Fisher Scientific Inc, Sigma-Aldrich (Merck KGaA), Origene Technologies Inc, GeneCopoeia Inc, Caribou Biosciences Inc, Horizon Discovery Ltd, Editas Medicine, Integrated DNA Technologies Inc, Transposagen Bio (Hera BioLabs), Precision Biosciences, New England Biolabs, Cellectis, Intellia Therapeutics Inc, Addgene, Genedata AG, Lonza, DiaCarta, Sangamo Therapeutics, GenScript, Applied StemCell and CRISPR Therapeutics.

Related Report:
Global DNA Vaccines Market

The global DNA vaccines market is likely to gain a growth of $37.38 billion by 2027, progressing at a CAGR of 42.03% over the forthcoming period 2019-2027.

New investment resources, the increasing adoption of innovative manufacturing technology and the growing public-private partnership for product development are leading to a surge in the new vaccine development. The cost-effectiveness of the DNA vaccines is likely to push their adoption rate in the animal healthcare sector. They are used for vaccine development against various infectious, autoimmunity and chronic diseases. Therefore, the growing prevalence of these diseases is instigating an upsurge of demand for the DNA vaccines market.

DNA vaccines for cancer treatment have been in preclinical & clinical trials and are considered to be effective. The rising demand for gene-based therapies in the treatment for HIV, cancer and retinal diseases, is creating business opportunities for market growth. Convenient storage and transportation of DNA vaccines are also favoring the growth of the DNA vaccines market.

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This release was published on openPR.