CRISPR Technology Market Size, Share, Growth Analysis, By End-User(Pharmaceutical and biotechnology companies and academic and research institutes), By Application(Drug discovery and development and agriculture) - Industry Forecast 2024-2031

CRISPR Technology Market size was valued at USD 2.54 billion in 2021 and is poised to grow from USD 2.94 billion in 2022 to USD 10.84 billion by 2030, growing at a CAGR of 15.6% during the forecast period (2023-2030).

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. 'Editas Medicine, Inc. (US)', 'CRISPR Therapeutics (Switzerland)', 'Intellia Therapeutics (US)', 'Caribou Biosciences, Inc. (US)', 'Cellectis (France)', 'Precision Biosciences (US)', 'Sangamo Therapeutics (US)', 'Lonza Group Ltd. (Switzerland)', 'Merck KGaA (Germany)', 'Horizon Discovery Group plc (UK)', 'Thermo Fisher Scientific (US)', 'Integrated DNA Technologies, Inc. (US)', 'GenScript Biotech Corporation (China)', 'Synthego Corporation (US)', 'New England Biolabs (US)', 'OriGene Technologies, Inc. (US)', 'Agilent Technologies, Inc. (US)', 'Takara Bio Inc. (Japan)', 'Addgene (US)', 'Eurofins Scientific (Luxembourg)'

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.

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.

North America dominated the 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.