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 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.