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

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 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. '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)'

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. 

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.  

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.