USD 2.54 billion
CRISPR Technology Market Size, Share, Growth Analysis, By Product Type (Products, Services), By Application (Biomedical, Industrial), By Application (Pharma & Biopharma Companies, Biotechnology Companies), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35H2108 |
Region:
Global |
Published Date: September, 2024
Pages:
157
|Tables:
59
|Figures:
75
CRISPR Technology Market Insights
CRISPR Technology Market size was valued at USD 3.0 billion in 2022 and is poised to grow from USD 3.50 billion in 2023 to USD 11.86 billion by 2031, growing at a CAGR of 16.50% during the forecast period (2024-2031).
The global CRISPR technology market is an emerging and promising sector within the field of biotechnology. CRISPR, an acronym for Clustered Regularly Interspaced Short Palindromic Repeats, is a groundbreaking gene-editing technology that allows precise modifications to be made to the DNA of living organisms. This technology has garnered significant attention due to its potential to address genetic disorders, drive advancements in therapy development, and revolutionize agricultural practices. The CRISPR technology market has witnessed substantial growth and is expected to continue expanding in the foreseeable future. Factors driving this growth include the increasing demand for personalized medicine, advancements in gene therapy, and the rising prevalence of genetic diseases. Additionally, the adoption of CRISPR technology in drug discovery, development, and the creation of diagnostic tools has further fueled market expansion. Furthermore, the industrial biotechnology sector is leveraging CRISPR technology for bioengineering and bio-manufacturing purposes. By employing CRISPR, researchers can develop novel enzymes, biofuels, and specialty chemicals, providing sustainable alternatives to traditional manufacturing processes. In conclusion, the global market is a rapidly evolving and promising sector with the potential to revolutionize various industries. Its applications in healthcare, agriculture, and industrial biotechnology offer the prospect of improving human health, enhancing food production, and advancing sustainable manufacturing. As research and development continue, addressing ethical and regulatory considerations is crucial to ensure responsible and beneficial use of CRISPR technology in the future.
US CRISPR Technology Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Pharmaceutical and Biotechnology companies
Fastest Growth
Pharmaceutical and Biotechnology companies
Growth Rate
15.6% CAGR
Global CRISPR Technology Market ($ Bn)
Country Share for North America Region (%)
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CRISPR Technology Market Segmental Analysis
Global CRISPR Technology Market is segmented by Product Type, Application, and region. Based on Product Type, the market is segmented into Products [CRISPR Libraries, CRISPR Kits & Enzymes, Other Products], Services [Cell Line Engineering, gRNA Design & Vector Consultation, Screening Services, Other Services]. Based on Application, the market is segmented into Biomedical, Industrial, Agricultural, and Other Applications. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
CRISPR Technology Market Analysis by End-User
By end-user, the market can be segmented into pharmaceutical and biotechnology companies and academic and research institutes. Pharmaceutical and biotechnology companies segment dominated the market. Pharmaceutical and biotechnology companies hold a significant share of the CRISPR technology market. These companies actively engage in research, development, and commercialization of CRISPR-based therapeutics and diagnostics. They have the resources, expertise, and infrastructure to drive innovation and bring CRISPR-based products to the market.
While academic and research institutions segment is experiencing significant growth and is the fastest-growing segment. These institutions play a crucial role in advancing the understanding and application of CRISPR technology. Academic and research institutes are hubs of scientific research and innovation. They conduct fundamental research on CRISPR technology, exploring its applications across various fields and expanding the knowledge base. Moreover, this segment can access grants and funding from government agencies, foundations, and other sources. This financial support enables them to conduct research, acquire equipment, and attract talented researchers, driving advancements in CRISPR technology.
Analysis by Application
By application, the market can be segmented into drug discovery and development and agriculture. The drug discovery and development segment dominated the global CRISPR technology market. This segment encompasses the application of CRISPR technology in the pharmaceutical and biotechnology industries for accelerating the process of drug discovery, target identification, validation, and preclinical and clinical studies. CRISPR-based screening platforms offer researchers a powerful tool to identify and validate potential drug targets more efficiently, which can significantly reduce the time and cost involved in the drug discovery process.
The agriculture segment is the fastest growing segment in the global CRISPR technology market. CRISPR technology is revolutionizing agriculture by offering precise and efficient gene editing tools for crop improvement. By utilizing CRISPR, researchers and agricultural companies can develop genetically modified crops with improved traits such as higher yield, enhanced nutritional content, and resistance to pests, diseases, and environmental stress. The ability of CRISPR to introduce targeted genetic modifications into crops allows for more precise and rapid trait development compared to conventional breeding methods. This addresses the growing need for sustainable and high-yielding agricultural practices to meet global food demand. The potential benefits of CRISPR-based crop improvement, including enhanced productivity, reduced environmental impact, and improved nutritional value, are driving the rapid growth of the agriculture segment in the CRISPR technology market.
Global CRISPR Technology Market By End User
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CRISPR Technology Market Regional Insights
North America dominated the global CRISPR Technology market. The region has a well-established biotechnology and pharmaceutical industry, significant research funding, and a favorable regulatory environment. The United States, in particular, is a key player in the market, with numerous companies actively involved in CRISPR research, development, and commercialization. North America benefits from a strong ecosystem of academic institutions, research organizations, and industry collaborations, fostering innovation and driving market growth.
Asia Pacific is expected to be the fastest growing region in the global CRISPR Technology market. The region is experiencing rapid economic growth, increased investments in biotechnology research, and a rising focus on healthcare advancements. Countries such as China, Japan, and India are witnessing significant developments in CRISPR technology. China, in particular, has emerged as a major player in the CRISPR market, with several research institutes and companies actively engaged in CRISPR-based research and applications. The Asia Pacific region is characterized by a large patient population, increasing government support, and a growing demand for advanced healthcare solutions, which is driving the adoption of CRISPR technology.
Global CRISPR Technology Market By Geography
- Largest
- Fastest
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CRISPR Technology Market Dynamics
CRISPR Technology Market Drivers
Growing investments and funding from governments
- Governments from all around the world have significantly increased their financing and investment in CRISPR technology. As a result, the field now offers a favourable environment for research and development, enabling ground-breaking discoveries and advancing the market.
CRISPR Technology Market Restraints
Technical challenges
- The field of gene editing is severely constrained by technical difficulties related to CRISPR technology. Despite the enormous potential of CRISPR, numerous challenges prevent its widespread application. These difficulties result from the complexity of accurate genome editing, off-target consequences, and effective delivery. For CRISPR technology to reach its full potential and experience its transformative effects across a variety of industries, it is imperative that these technological obstacles be removed.
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CRISPR Technology Market Competitive Landscape
The competitive landscape in the CRISPR technology market is characterized by the presence of several key players that are actively engaged in research, development, and commercialization of CRISPR-based products and services. These companies compete in various segments of the market, including therapeutics, diagnostics, agriculture, and research tools. The competitive landscape in the CRISPR technology market is characterized by intense research and development activities, strategic collaborations, and a focus on commercialization. As the market continues to grow, competition is expected to further intensify, driving innovation and advancements in CRISPR-based products and services.
CRISPR Technology Market Top Player’s Company Profiles
- Thermo Fisher Scientific Inc. (US)
- Merck KGaA (Germany)
- Integrated DNA Technologies (Danaher Corporation) (US)
- Agilent Technologies Inc. (US)
- Genscript Biotech Corp (China)
- New England Biolabs Inc. (US)
- Cellecta Limited (US)
- GeneCopoeia Inc. (US)
- Origene Technologies Inc. (US)
- Editas Medicine, Inc. (US)
- CRISPR Therapeutics AG (Switzerland)
- Intellia Therapeutics, Inc. (US)
- Illumina, Inc. (US)
- Base Genomics Inc. (US)
- Synthego Corporation (US)
- Prime Medicine, Inc. (US)
- Arbor Biotechnologies (US)
- Excision BioTherapeutics, Inc. (US)
- Mammoth Biosciences, Inc. (US)
CRISPR Technology Market Recent Developments
- In May 2023, Thermo Fisher Scientific started cell therapy facility to speed up development of breakthrough therapies.
- In May 2021, a non-exclusive license agreement was signed between ERS Genomics Ltd. and GenScript Biotech Corporation.
- In March 2021, Nanyang Technological University, Singapore developed a COVID-19 test that gives results within half an hour. It detects virus post mutation too.
CRISPR Technology Key Market Trends
- One key market trend in the CRISPR technology market is the increasing adoption of CRISPR in drug discovery and development. Pharmaceutical and biotechnology companies are recognizing the potential of CRISPR technology to accelerate the drug discovery process, improve target identification and validation, and enhance preclinical and clinical studies. CRISPR-based screening platforms allow researchers to identify and validate potential drug targets more efficiently, leading to the development of more effective therapies. Additionally, CRISPR enables the creation of disease models and organoids for studying disease mechanisms and evaluating drug candidates. Overall, the key market trends in the CRISPR technology market include the adoption of CRISPR in drug discovery, its applications in agriculture and food production, the development of CRISPR-based diagnostics, and the increasing emphasis on ethical and regulatory considerations. These trends highlight the expanding potential and impact of CRISPR technology across various industries.
CRISPR Technology Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global CRISPR technology market analysis, the market is driven by factors such as the demand for personalized medicine, advancements in gene therapy, and the prevalence of genetic diseases. Healthcare, agriculture, and industrial biotechnology are the key industries investing in CRISPR. In healthcare, researchers are exploring its potential for treating genetic disorders like cancer and HIV. In agriculture, CRISPR offers the ability to develop genetically modified crops with improved yield and resistance to pests. The industrial biotechnology sector is utilizing CRISPR for bioengineering and manufacturing. However, ethical concerns and potential off-target effects pose challenges. Despite these challenges, the CRISPR technology market shows great promise for revolutionizing various industries, improving human health, enhancing food production, and advancing sustainable manufacturing. Ethical and regulatory considerations are crucial for responsible and beneficial use of CRISPR technology in the future.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 3.0 billion |
| Market size value in 2031 | USD 11.86 billion |
| Growth Rate | 16.50% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on CRISPR Technology Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on CRISPR Technology Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the CRISPR Technology Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the CRISPR Technology Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the CRISPR Technology Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the CRISPR Technology Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
CRISPR Technology Market Report Snapshots
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