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CRISPR Technology Market Growth Trends from 2024 to 2033 | Key Players Crispr Therapeutics, Thermo Fisher Scientific, Intellia Therapeutics, Horizon Discovery, Synthego Corporation,
CRISPR Technology Market Share
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According to The Business Research Company's, The crispr technology market size has grown exponentially in recent years. It will grow from $1.64 billion in 2023 to $2.04 billion in 2024 at a compound annual growth rate (CAGR) of 24.1%. The growth in the historic period can be attributed to rise in funding, and increase in pharmaceutical r&d expenditure.
The crispr technology market size is expected to see exponential growth in the next few years. It will grow to $4.65 billion in 2028 at a compound annual growth rate (CAGR) of 22.9%. The growth in the forecast period can be attributed to rising demand for gene therapeutics, technological advancements in the fields of genome editing, growing demand for the discovery of drugs, increasing demand for crispr in diagnostics, rising demand for crispr technologies in agriculture applications, and rising adoption of crispr technologies . Major trends in the forecast period include developing innovative next-generation technology, developing improved crispr technologies for better results in new drug developments, using ai to improve efficiency and accuracy of gene editing with crispr, investing in new approaches such as idmseq to increase accuracy, establishing collaborations with companies, and providing license agreements to biotechnology and pharmaceutical companies.
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Market Drivers and Trends:
The application of CRISPR technology as a diagnostic tool is expected to boost the market during the period. The Sherlock CRISPR SARS-CoV-2 kit is the first diagnostic kit based on CRISPR technology for infectious diseases caused due to COVID-19. In February 2021, FDA announced the emergency use authorization to the Sherlock BioSciences Inc's Sherlock CRISPR SARS-CoV-2 kit which is a CRISPR-based SHERLOCK (Specific High-sensitivity Enzymatic Reporter unLOCKing) diagnostic test. This test helps in specifically targeting RNA or DNA sequences of the SARS-CoV-2 virus from specimens or samples such as nasal swabs from the upper respiratory tract and fluid in the lungs from bronchoalveolar lavage specimens. This diagnostic kit has high specificity and sensitivity and does not provide false negative or positive results. Widening the application of CRISPR technology for the diagnosis of infectious diseases will increase the demand for CRISPR technology products and services.
Major companies operating in the CRISPR technology market are focusing on developing innovative products, such as dedicated CRISPR products, to provide reliable services to customers. Dedicated CRISPR products are tools and reagents that are specifically designed for CRISPR gene editing. For instance, in June 2021, QIAGEN NV, a Germany-based provider of sample and assay technologies, launched QIAprep& CRISPR Kit and CRISPR Q-Primer Solutions. They are specifically made with an all-in-one, sensitive method for identifying knock-ins from tiny insertions during gene editing and knockouts produced from guide RNA (gRNA). The Sanger method of DNA sequencing, coupled with downstream PCR detection, is combined with liquid-based sample preparation in kits and solutions.
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Major Key Players of the Market:
Crispr Therapeutics, Thermo Fisher Scientific, Intellia Therapeutics, Horizon Discovery, Synthego Corporation, Integrated Dna Technology (Danaher), Editas Medicine, GenScript, Agilent Technologies, New England Biolabs, CSIR-Institute of Genomics & Integrative Biology (IGIB), Strand Life Sciences Pvt. Ltd., Bio Palette Co. Ltd., CSL Limited, C4U Co. Ltd., BGI Group, Churchi Genome Engineering and Therapeutic Research Center., Beam Therapeutics Inc., Eurofins Genomics India, Setsurotech Co. Ltd., Merck Japan, Institut Pasteur, CureVac, Cellectis, BiovelocITA S.r.l., Evotec A.G., SNIPR Biome, Oxford Genetics, ERS Genomics, Alia Therapeutics, Solvo, BioTalentum, Rosneft, BIOCAD, BioVendor, Research & Diagnostic Products, Contipro, Lonza Biotec, Sotio, Selvita, BioVentures Institute Ltd, Sigma-Aldrich, Poseida Therapeutics, NanoCellect Biomedical, Sherlock Biosciences, Repare Therapeutics, Inscripta Inc., Santa Cruz Biotechnology, Caribou Biosciences Inc., Egenesis Inc., Homology Medicines, System Biosciences, Takara Bio USA Inc., Inari Agriculture Inc., Precision BioSciences, Cell Microsystems Inc., GeneCopoeia Inc., Horizon Discovery Group, Merck KGaA, Origene Technologies Inc., Pluristem Therapeutics Inc.
CRISPR Technology Market 2024 Key Insights:
• The crispr technology market size is expected to see exponential growth in the next few years. It will grow to $4.65 billion in 2028 at a compound annual growth rate (CAGR) of 22.9%.
• Crispr Technology Revolutionizes Infectious Disease Diagnosis With The Sherlock Crispr Sars-Cov-2 Kit
• Innovation In The Crispr Technology Market
• North America was the largest region in the CRISPR technology market in 2023
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