USD 2.54 billion
CRISPR Technology Market Size, Share, Growth Analysis, By Product Type(Products [CRISPR Libraries, CRISPR Kits & Enzymes, Other Products], Services [Cell Line Engineering), By Application(Biomedical, Industrial, Agricultural, Other Applications), 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).
CRISPR technology stands for Clustered Regularly Interspaced Short Palindromic Repeats, is a simple but effective tool for precise genome editing. Researchers working in life sciences are now able to modify any DNA sequence and, thus, the function of any gene, resulting in the ability to correct genetic defects, eliminate and fight diseases, and improve crop yield quality. By introducing cell nuclei together with man-made or synthetic guide RNA to the target cells through the assistance of Cas9 nuclease, it is now possible to produce precise cuts within the genome at the described location and either delete or insert affected components. Thus, CRISPR technology has pushed the abilities of methods used for genetic editing beyond all recognition.
The increasing microbiology use of CRISPR systems with public and private investments in genome editing research and development is a key growth driver for the global CRISPR market. Moreover, the rise in the number of genetic diseases increases the utility of CRISPR technology and its use in improving the yield of crops using CRISPR/Cas9. However, ethical concerns and limited professional knowledge on CRISPR pose threats and constrain the market growth over the outlook period. Some of the uses of CRISPR technology include transmitting and curing diseases and improving crops by correcting genetic defects. The technology is based on the sequence-engine to tissue-engine process as defined by the insertion, deletion, or modification of the DNA of a biological being with the help of engineered proteases and molecular mechanisms.
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 Application
The biomedical CRISPR Technology segment accounted for the leading share of the market revenues in 2023. The rapid use of CRISPR gene-editing technologies in several biological sciences fields has significantly promoted this segment’s higher revenue. The technology’s effectiveness and specificity have been reinforced by alternative delivery methods as well as the use of nanocarriers. The number of studies and publications that based on the usage of this method to modify the genomes of human somatic cells, as well as to induced pluripotent stem cells, have been significantly increased. In addition, there are some companies that provide and supply commercial kits and services for the researchers that are working in this domain.
The agriculture segment is expected to be the fastest-growing segment over the forecast period. The development of CRISPR technology has had a dramatic impact in the field of agriculture, as it provides some unordinary solutions to various issues, such as crop diseases, pests and resistance to environmental stress. Scientists focused on the editing of the plant genome using their ability to easily and accurately develop genetically modified crops with a better yield, nutritional value, and their increased resistance to the impact of extreme environmental conditions. The enhancement of agricultural production through the adoption of innovative breeding technology has promoted the availability of nutrient-rich foods across the globe.
CRISPR Technology Market Analysis by End-Use
In 2023, the biotechnology & pharmaceutical company segment will lead the market and account for maximum revenue share. Pharmaceutical companies use CRISPR technologies to find new therapeutic goals rapidly and to verify and develop better biological models of human diseases in less time. The market will benefit from the increasing number of biotechnology companies that use gene editing to carry out research or commercial applications. The development of new gene editing technologies by a variety of biotechnologies will ensure a significant increase in the demand. In previous years, technological development has also allowed the market participants to design genetically altered tools to fight genetic diseases.
During the forecast period, it is expected that the gene-editing segment will record the fastest growth. Gene editing or genome editing is the alteration of an organism’s DNA using a variety of approaches. This method allows for genetic content replacement, addition, or removal in pinpointed locations throughout the genome. A variety of editing techniques were developed as a result of its use in the industry. Human diseases like cystic fibrosis, sickle cell disease, HIV infection, cancer, and others are also cured and prevented by gene editing. Furthermore, the creation of revolutionary pharmaceuticals such as cell and gene treatments using CRISPR-based gene-editing approaches is in tremendous demand. CRISPR’s basic core has been enhanced to give access to the epigenome. CONTROL-SEG, an aptamer-GUIDE-seq strategy, offers sensitive and efficient monitoring of chromatin after Cas9 cuts.
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CRISPR Technology Market Regional Insights
North America held the major share of the global CRISPR gene editing market due to huge investments by the pharmaceutical and biotech companies, advanced healthcare infrastructure, increasing per capita income, early availability of therapies after approval, and presence of major research laboratories and institutions in the region. Moreover, the North American region is anticipated to exhibit the significant demand over the forecast period as the increased funding from government and private organizations, the prevalence of big pharma and gene therapy companies, and higher usage in the range of applications of CRISPR are attracting the demand for the same.
Asia Pacific is the fastest growing region in the CRISPR technology market. The emerging number of research organizations in Asia Pacific emerging countries will have the effect of enhancing the region’s industry landscape. The growth in the regional sector is likely to be driven by the current focus of major corporations to develop gene editing technology. The rapid increase of the market for bioscience is experienced in the Asia Pacific region. It occurs as a result of the high amount of funding provided by the government to the biotechnology industry to develop disease treatment. The rise in research and development efforts in China, Japan, and India will contribute to the regional market trends.
Global CRISPR Technology Market By Geography
- Largest
- Fastest
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CRISPR Technology Market Dynamics
CRISPR Technology Market Drivers
Growing Investment in Genetic Research
- There are several factors that may contribute to the success of the CRISPR gene editing business. The increase in funding for genetic research in developed countries such as those in North America and Europe is encouraging the growth of the market. Many government facilities in the US government are heavily investing in new materials, equipment, and new procedures of genetic research. In addition, government funding supports the development and production of medical discoveries concerning rare genetic diseases. For example, European markets benefit from funding for genomics research from the National Human Genome Research Institute.
Increasing Prevalence of Chronic Diseases to Drive Market
- Currently, one out of three people have a chronic illness which affects people’s health and overall conditions. The clustered regularly interspaced short palindromic repeats is the abbreviation for this technology. CRISPR has also been used as a gene-editing tool, making it a powerful tool. This method is also beneficial for diseases like Huntington’s disease, muscular dystrophy, cancer, and excessive cholesterol. Furthermore, such factors as rising disposable income, an increasing prevalence of chronic diseases, along with the changes in lifestyle will all serve as the catalyst for the expansion of the global CRISPR gene editing market.
Restraints
Higher Cost Associated with CRISPR Based Drugs and Therapies
- CRISPR-based therapies are expensive. Increased efforts, both in terms of time and input, are needed in the whole research and manufacture of maximum genome editing medicines. The number of individuals that can use CRISPR gene detection and diagnostic assay kits as well as treatments is quite broad. As a result, the burden of these costs is transferred to the patients.
Copyright Issues Impacting Innovation
- Intellectual property disputes and regulatory ambiguity represent the main constraints to the development of CRISPR technology. The main obstacle is the difficulty in investing in these markets, much related to the increasing complexity of CRISPR patent disputes among academic institutions, biotech companies, research organizations, and all the teams of lawyers and consultants associated with each side. As a result, innovation and product development are restricted.
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CRISPR Technology Market Competitive Landscape
The companies on the market are actively working to create more safety and effective characteristics of the CRISPR-based treatment of various genetic illnesses and diseases. The overall development of the CRISPR technology is largely facilitated by basic research and cooperation with business partners, research institutes, and academic centers. Advances in technology are properly monitored by the FDA and EMA authorities to ensure all progress is safe and accepted. The companies of the CRISPR market may follow the tendency to engage deeply into useful research, develop agreements with business allies, and monitor the compliance to regulations.
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 January 2024, Danaher and Innovative Genomics Institute, ARC entered a partnership to develop gene-editing therapies for rare diseases and genetic disorders. The partnership created the Danaher-IGI Beacon for CRISPR Cures. The new collaboration will be implemented through CRISPR gene editing, using a new genome editing platform to eliminate or correct genetic mutations that cause a wide range of diseases.
- In December 2023, Editas Medicine and Vertex Pharmaceuticals entered into a license agreement. According to the terms of the license agreement Vertex will be granted a non-exclusive license to use Editas’s Cas9 gene editing technology in ex vivo medicines targeting BCL11A for the treatment of sickle cell disease and beta thalassemia.
- In April 2022, Nuheara Limited entered into a global trademark license agreement with HP Inc. for the use of specific HP trademarks. The agreement covers HP’s trademarks and others, for use on CRISPR by Nuheara, personal sound amplification devices and accessories, including true HP products and software.
CRISPR Technology Key Market Trends
- Implementation of AI and Machine Learning: CRISPR technology is being used in conjunction with artificial intelligence and machine learning algorithms that are the most notable trends in the CRISPR market, appropriating CRISPR precise gene editing to enhance efficiency in target identification and off-target prediction. AI and ML data analysis tools facilitate the accelerated discovery of therapeutic targets using CRISPR predominantly in its many applications in drug discovery, diagnostics and many other domains.
- Development in Gene Editing Technology: Many Genome editing tools are being produced by companies using highly advanced methods in the production of precise and effective genes. There is a relatively high count of product launches that use Modify-R algorithm CRISPR based guide RNAs. The past few years have seen a remarkable increase in the implementation of technology, that has paved the way for the methods of developing markets and the criteria for treatment.
CRISPR Technology Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, CRISPR technology market is one of the most promising and rapidly growing segments in the biotechnological field. CRISPR has become the focus of vast attention and interest because of potential applications that include the prospects for addressing multiple genetic problems in humans, assisting in the enhancement of therapies, and helping to change the best practices in agriculture. The pace of its development can be considered impressive, and the projections indicate that the market in question will continue growing. In particular, the increased demand for personalized medicine, the innovations in the field of gene therapy, the continuous growth of genetic disorders, and the use of CRISPR for building new kinds of drugs and diagnostic products are the factors driving the market’s growth.
| 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.
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