Press release
CRISPR Technology Market is Projected to Expand at 16% CAGR by 2030
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Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) is a revolutionary gene-editing technology derived from bacterial defense mechanisms. It uses the Cas9 (or other Cas proteins) enzyme to precisely cut DNA at targeted locations, allowing for gene modification, deletion, or replacement. CRISPR has transformed genetic research, enabling advancements in medicine, agriculture, and biotechnology. It holds promise for treating genetic disorders, developing disease-resistant crops, and advancing synthetic biology. However, challenges like ethical concerns, off-target effects, and regulatory hurdles remain. Despite these, CRISPR continues to drive innovation in gene therapy, drug discovery, and personalized medicine, shaping the future of biotechnology.
Growing Investments from Governments, Private Companies, and Venture Capitalists to Drive Market Growth
In recent years, fundings and investments in CRISPR technology have been significant, showcasing the growing interest and support for this innovative field. In February 2024, CRISPR Therapeutics secured approximately USD 280 million through an agreement to sell its common shares to a select group of institutional investors. This investment aims to accelerate their gene-editing programs and expand their therapeutic pipeline. Another notable example is the Indian biotechnology start-up CrisprBits, which raised USD 250,000 in pre-seed funding from US-based VJ Group in February 2023. This funding is intended for developing CRISPR-based diagnostics to detect pathogens and antimicrobial resistance genes. Likewise, in July 2023, Pfizer Inc. made a USD 25 million equity investment in Caribou Biosciences, Inc. a leading clinical-stage CRISPR genome-editing biopharmaceutical company. These examples highlight the substantial financial support and confidence in the potential of CRISPR technology.
Precision and Efficiency Associated with CRISPR Technology to Fuel Market Growth
Advancements in imaging technology are a major driver of the CRISPR technology market. Innovations such as CRISPR has become the most widely used gene-editing tool in medicine, agriculture, and microbiology due to its precision and efficiency. The growing demand for accurate gene-editing solutions drives market expansion. CRISPR enables targeted DNA modifications with minimal off-target effects, making it ideal for gene therapies. It outperforms other tools in success rates, enhancing its appeal to researchers and developers. Its applications span gene knockouts, insertions, corrections, and regulation in drug discovery, agriculture, and diagnostics. Continuous R&D has improved CRISPR's specificity and expanded its applications, further fueling its adoption and market growth in gene-editing technologies.
Competitive Landscape Analysis
The global CRISPR technology market is marked by the presence of established and emerging market players such as Thermo Fisher Scientific, Inc., Merck KGaA, Agilent Technologies, Inc., CRISPR Therapeutics AG, Genscript Biotech Corporation, Lonza Group, Ltd., PerkinElmer, Inc., Caribou Biosciences, Inc., Hera Biolabs, and Editas Medicine; among others. Some of the key strategies adopted by market players include new product development, strategic partnerships and collaborations, and geographic expansion.
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Market Segmentation
This report by Medi-Tech Insights provides the size of the global CRISPR technology market at the regional- and country-level from 2023 to 2030. The report further segments the market based on offering, application, end user.
Market Size & Forecast (2023-2030), By Offering, USD Million
Products
CRISPR Kits & Enzymes
CRISPR Libraries
Other Products
Services
Cell Line Engineering
gRNA Synthesis
Screening and Validation
Other Services
Market Size & Forecast (2023-2030), By Application, USD Million
Biomedical Applications
Agricultural Applications
Other Applications
Market Size & Forecast (2023-2030), By End User, USD Million
Pharmaceutical & Biotechnology Companies
Academic & Research Institutes
Other End Users
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Contact:
Ruta Halde
Associate, Medi-Tech Insights
Phone: +32 498 86 80 79
Email: info@meditechinsights.com
Website: https://meditechinsights.com/
About Medi-Tech Insights
Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services in the areas of market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis & go-to-market strategy. Our methodology includes rigorous secondary research combined with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply side decision-makers.
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