Global CRISPR Market By Application (Genetic Engineering, CRISPR Plasmid, Gene Library, and Others), By End-User(Pharmaceutical Companies, Biotechnology Companies, Research & Development), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2019-2029

CRISPR is a technique that allows genetic engineering or genome editing, which helps in transforming an organism’s genome. The process follows the insertions, deletions, or alterations of the DNA of the living organism with the help of engineered nucleases and molecular machinery. In the recent technological development in the field of gene therapy, CRISPR is one of the controversial technology, which fully modifies the individual’s DNA to eliminate the disease. The major factor enhancing the CRISPR technology market is the increasing occurrence of genetic disorders and cancers. The global CRISPR market projected to grow at a remarkable CAGR growth between 2019 and 2027.

The increasing birth disorders due to late pregnancies also increase the risk of genetic abnormalities and is one of the main driving factor boosting the global CRISPR market. Moreover, the other factors contributing to market growth is the rising geriatric population and the increasing demand for better treatment options. According to the United Nations, in 2019, there are around 703 million people above 65 years, globally. This number is predicted to grow double in 2050. Furthermore, the drug innovation technology market plays a vital role in the field of the pharmaceutical industry due to the growing improvement of drugs for diseases like cancer, cardiovascular disease, and others. The cancer burden is growing drastically.

As per the World Health Organization, cancer is the second most leading cause of death worldwide. According to the National Cancer Institutes, in 2018, more than 1.7 Billion new cancer cases registered, out of which 6 million people dies of this disease. According to the American College of Cardiology Foundation, in the U.S., cardiovascular disease (CVD) remains the leading cause of death. More than 8 million deaths registered due to CVD in 2016 in the U.S. alone. This increasing prevalence rate of CVD and cancer will boost the demand for better treatment options and is likely to contribute to the CRISPR market growth. Other factors, such as investment in path-breaking research technology and increasing awareness regarding available therapeutics, are also propelling the CRISPR market growth. However, the potential misappropriates use of the CRISPR gene editing tools coupled with a lack of resources for R&D activities, especially in the developing countries, are likely to hamper the CRISPR market growth. Also, ethical issues around this technology are considered to be a debatable topic to operate in the human model, which may impact the growth of the market growth.

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The global CRISPR market is segmented into applications, end-users, and region. The increasing demand for drug discovery majorly drives the growth of the CRISPR market. Further, the growing occurrence of genetic sicknesses due to changing lifestyle patterns and late pregnancies has drawn the attention of the researchers towards this evolving technology. Based on the end-user segment, research & development organizations and biotechnology companies presently capture more than 60% of the overall revenue share. This is because of high investments from these end-user segments, which drives the development of this technology. Over the last few years, pharmaceutical industries are likely to gain maximum growth rate in the forecast years owing to the major improvements in the field of pharmaceutical and biotechnology fields that project vast opportunities.

Based on the region, North America is expected to gain a high market revenue share, followed by the European region owing to advanced R&D infrastructure and high investments for research activities in the regions. The Asia Pacific region is projected to show noteworthy CAGR growth due to the growing incidence rate of genetic disorders and infertility in the region. The Middle East & Africa and South America region are expected to show moderate revenue growth due to lack of awareness and lack of skilled researchers in the region.

Global CRISPR Market Segmentation:

Segmentation by Application

• Genetic Engineering
• CRISPR Plasmid
• Gene Library
• Genetically Modified Crops (GMO)
• Genome Editing
• Cell Line Engineering
• Human Stem Cells

Segmentation by End-user

• Pharmaceutical Companies
• Biotechnology Companies
• Research & Development
• Academic Institutes

Segmentation by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Intellia Therapeutics, Inc.
• Cellectis
• Precision BioSciences
• Horizon Discovery PLC
• GenScript Corporation
• Editas Medicine
• Sangamo Therapeutics, Inc. (SGMO)
• CRISPR Therapeutics A
• Lonza Group Limited
• Integrated DNA Technologies
• New England Biolabs
• OriGene Technologies, Inc.
• Transposagen Biopharmaceuticals, Inc.
• Thermo Fisher Scientific
• Caribou Biosciences, Inc.
• Sigma-Aldrich Corporation