The report "CRISPR Market by Product (Enzymes, Kits, Libraries), Services (gRNA design, Cell Line Engineering, Screening), Application (Drug Discovery & Development, Agriculture), End User (Pharma, Biotech, CROs, Research Institutes) - Global Forecast to 2028" is projected to reach USD 7.1 billion by 2028 from USD 3.4 billion in 2023, at a CAGR of 15.6% during the forecast period. Some of the prominent factors driving the growth of this market are technological advancements in the field of CRISPR, substantial support and funding for research and development in the CRISPR field from government and pharmaceutical companies are boosting the growth of the market. However, risk of off-target effects and safety concerns of CRISPR technology can hamper the market growth.
Browse 208 market data Tables and 40 Figures spread through 207 Pages and in-depth TOC on "CRISPR Market by Product (Enzymes, Kits, Libraries), Services (gRNA design, Cell Line Engineering, Screening), Application (Drug Discovery & Development, Agriculture), End User (Pharma, Biotech, CROs, Research Institutes) - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/crispr-technology-market-134401204.html
CRISPR products accounted for the largest share of the CRISPR market
Among the products & services, the CRISPR market is segmented into CRISPR products, and CRISPR services. In 2023, the CRISPR products segment accounted for the largest share of the CRISPR market. Growth in this market segment can be attributed to prevalence of genetic disorders, such as inherited diseases and certain types of cancers, and the potential of CRISPR products to enhance the efficacy and precision of gene editing for therapeutic purposes.
Drug Discovery & Development segment is the fastest-growing segment of the CRISPR market
In 2023, the drug discovery & development segment accounted for the fastest-growing share of the application segment of CRISPR market. Market growth can largely be attributed to the potential of CRISPR technology to develop personalized therapies by precisely editing patient-specific genetic variations. The market is also driven by its application in drug target validation and lead optimization, increasing investment from both the public and private sectors, as well as CRISPR based functional genomics screening expediting the drug discovery process.
Asia Pacific: The fastest-growing region in the CRISPR market.
The Asia Pacific CRISPR market is projected to grow at the highest CAGR during the forecast period, mainly due to increasing awareness of the importance of the research and development activities in the healthcare industry, large patient population, and advancements in sequencing technologies. The Asian market has also garnered significant attention from global players due to the increased focus on personalized medicine, driving the demand for CRISPR products.
The market for CRISPR is highly fragmented, with key players strategizing to capture the market. Prominent players in the CRISPR market are Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Genscript Biotech Corporation (China), CRISPR Therapeutics AG (Switzerland), Editas Medicine (US), Intellia Therapeutics, Inc. (US), Beam Therapeutics Inc. (US), Caribou Biosciences, Inc. (US), Lonza Group, Ltd. (Switzerland), Danaher Corporation (US), PerkinElmer, Inc. (US), Hera Biolabs (US), OriGene Technologies, Inc. (US), Cellecta, Inc. (US), Mammoth Biosciences, Inc. (US), Applied StemCell (US), New England Biolabs Inc. (US), ToolGen Inc. (South Korea), GeneCopoeia, Inc. (US), Twist Bioscience Corporation (US), Synthego Corporation (US), eGenesis (US), Inscripta, Inc. (US), and Precision BioSciences, Inc. (US).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]