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).

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.