Press release
Global CRISPR Technology Market Projected to Surpass $5.75 Billion by 2029 with 22.8% Annual Growth
CRISPR Technology
Anticipations of CRISPR technology being used as a diagnostic tool are set to stimulate growth in the market during this timeframe. The Sherlock CRISPR SARS-CoV-2 kit sets a precedent as the inaugural diagnostic kit rooted in CRISPR technology for infectious ailments stemming from COVID-19. In February 2021, the FDA granted the Sherlock BioSciences Inc's Sherlock CRISPR SARS-CoV-2 kit emergency use authorization. This kit, built on CRISPR-based SHERLOCK (Specific High-sensitivity Enzymatic Reporter unLOCKing) diagnostic testing, zeroes in specifically on the SARS-CoV-2's virus RNA or DNA sequences. Specimens for testing, such as nasal swabs taken from the upper respiratory tract or fluid from bronchoalveolar lavage specimens, are utilized in this test. The diagnostic tool boasts remarkable specificity and sensitivity, warding off the risk of inaccurate positive or negative outcomes. As the use of CRISPR technology broadens to include diagnostics for infectious diseases, demand for CRISPR technology products and services is predicted to rise.
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How will the growth rate of the crispr technology market shape industry trends by 2034?
The market size of CRISPR technology has seen significant expansion in the past few years. It is projected to surge from $2.05 billion in 2024 to $2.53 billion in 2025, marking a compound annual growth rate (CAGR) of 23.7%. The visible growth during the historic phase was primarily due to increased funding and a surge in expenditure on pharmaceutical research and development.
The market size of CRISPR technology is predicted to witness a dramatic surge in the forthcoming years, reaching up to $5.75 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 22.7%. This projected expansion during the forecast period is linked to the escalating demand for gene therapeutics, advancements in the realm of genome editing, rapidly growing requests for drug discovery, amplified needs for CRISPR in diagnostic procedures, an increasing requirement for CRISPR technologies in agricultural applications, and a surge in the adoption of CRISPR technologies. Notable trends expected in the forecast period involve the creation of innovative next-generation technology, enhancement of CRISPR technologies to improve new drug development results, the incorporation of AI to heighten the precision and effectiveness of gene editing through CRISPR, investment in novel methods like IDMseq for better accuracy, and the establishment of collaborations with various companies.
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What trends are poised to drive the future success of the crispr technology market?
Prominent businesses in the CRISPR technology market are focusing on strategic partnerships as a method to contribute treatment for conditions like sickle cell disease (SCD) and transfusion-dependent beta-thalassemia (TDT). This means that organizations draw on each other's strengths and capabilities in order to achieve shared advantages and attain success. For example, in November 2023, a UK-based call center firm, Vertex, formed a collaboration with CRISPR Therapeutics, a biotechnology company based in Switzerland. Their joint objective is to pioneer novel solutions and introduce the CRISPR/Cas9 Gene-Edited Therapy, known as CASGEVYTM. CASGEVY (exagamglogene autotemcel), uses the CRISPR/Cas9 system to modify genes in hematopoietic stem cells, hence permitting the generation of functional hemoglobin. This significantly reduces or even eradicates painful vaso-occlusive crises linked with sickle cell disease, as well as curtails the need for blood transfusions in patients suffering from transfusion-dependent beta-thalassemia.
Which primary segments of the crispr technology market are driving growth and industry transformations?
The CRISPR technology market covered in this report is segmented -
1) By Product Type: Design Tools, Plasmid And Vector, Cas9 And G-RNA, Delivery System Products
2) By Application: Biomedical, Agriculture, Diagnostics, Other Applications
3) By End-User: Academic Research Organizations, Biopharmaceutical Companies, Agricultural Biotechnology Companies, Contract Research Organizations (CROs)
Subsegments:
1) By Design Tools: CRISPR Design Software, sgRNA Design Tools, Bioinformatics Platforms
2) By Plasmid and Vector: Plasmid Vectors, Viral Vectors, Bacterial Vectors
3) By Cas9 and gRNA: Cas9 Proteins, Guide RNA (gRNA) Products, Cas9 Complexes
4) By Delivery System Products: Electroporation Systems, Lipid-Based Delivery Systems, Viral Delivery Systems, Nanoparticle-Based Delivery Systems
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Which geographical regions are pioneering growth in the crispr technology market?
North America was the largest region in the CRISPR technology market in 2024. Western Europe was the second largest region in the global CRISPR technology market. The regions covered in the CRISPR technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the crispr technology market landscape?
Major companies operating in the CRISPR technology market include 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.
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What Is Covered In The CRISPR Technology Global Market Report?
• Market Size Forecast: Examine the crispr technology market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the crispr technology market for a structured understanding.
• Key Players Overview: Analyze major players in the crispr technology market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the crispr technology market.
• Segment Contributions: Evaluate how different segments drive overall growth in the crispr technology market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the crispr technology market.
• Industry Challenges: Identify potential risks and obstacles affecting the crispr technology market.
• Competitive Landscape: Review strategic developments in the crispr technology market, including expansions, agreements, and new product launches.
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