The global CRISPR Technology Market is estimated to be
valued at US$ 2,251.2 Mn in 2021 and is expected to exhibit a CAGR of 19.2% over
the forecast period 2023-2030, as highlighted in a new report published by
Coherent Market Insights.
Market Overview:
CRISPR technology is a revolutionary gene-editing tool that enables scientists
to modify the DNA of living organisms with precision. The rise in genetic
disorders and the need for advanced treatment options have fueled the adoption
of CRISPR technology in various fields such as agriculture, healthcare, and
research. This technology offers several advantages, including targeted gene
editing, quicker and cost-effective research, and potential therapeutic
applications. The market for CRISPR technology is driven by the increasing
demand for advanced gene therapies, growing investments in genomic research,
and the rising prevalence of genetic disorders.
Market key trends:
One of the key trends in the CRISPR technology market is the integration of
artificial intelligence (AI) and machine learning (ML) algorithms. AI and ML
are being utilized to enhance the accuracy and efficiency of CRISPR
gene-editing techniques. AI algorithms can analyze the vast amounts of genomic
data and identify potential gene targets, while ML algorithms can predict the
effects of gene modifications. This integration of AI and ML with CRISPR
technology is expected to revolutionize genome editing and pave the way for
personalized medicine and targeted therapies.
Segment Analysis:
The CRISPR technology market can be segmented by application and end-user. Based
on application, the dominant segment in the market is the genome engineering
segment. This is due to the wide range of applications of CRISPR technology in
gene editing and genetic engineering. The genome engineering segment is
expected to witness high growth during the forecast period, driven by
increasing investments in research and development activities related to gene
therapy, drug discovery, and agriculture.
In terms of end-users, the pharmaceutical and biotechnology companies segment
is expected to dominate the market. These companies are increasingly adopting
CRISPR technology for drug discovery and development, as it offers significant
advantages over traditional methods. The pharmaceutical and biotechnology
companies segment is expected to witness high growth, driven by the increasing
demand for personalized medicine and the growing focus on precision medicine.
Key Takeaways:
The
global
CRISPR technology market is expected to witness high growth, exhibiting
a CAGR of 19.2% over the forecast period. One of the key drivers for this
growth is the increasing funding and investment in research and development
activities related to CRISPR technology. Governments and private organizations
are investing heavily in gene editing research, which is expected to drive the
market growth.
In terms of regional analysis, North America is expected to be the
fastest-growing and dominating region in the CRISPR technology market. This can
be attributed to the presence of major pharmaceutical and biotechnology companies
in the region, along with favorable government initiatives and funding for gene
editing research.
Key players operating in the CRISPR technology market include Merck KGaA,
Thermo Fisher Scientific, Origene Technologies, Inc., New England Biolabs, GenScript,
GeneCopoeia, Inc., Cellecta, Inc., Agilent Technologies, Inc., PerkinElmer,
Inc. (Horizon Discovery Ltd.), and Danaher Corporation (Integrated DNA
Technologies), among others. These key players are actively involved in
research and development activities and are focusing on strategic partnerships
and collaborations to strengthen their market position.
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