CRISPR/CAS 9 Technology Market Size to Reach USD 6,221 Million in 2028 Growing at a CAGR of 20.4%, according to Emergen Research
Emergen Research has published its latest report titled “CRISPR/CAS 9 Technology Market, By Product & Service Type (Kits & Enzymes, Libraries, Design Tool, Antibodies, Cell Line Engineering, gRNA Design, Microbial Gene Editing, DNA Synthesis, Others), By Application (Biomedical, Agricultural), By End-use (Biotechnology & Pharmaceutical Companies, Contract Research Organizations, Academic & Government Research Institutes, Others), and By Region, Forecast to 2028”
According to Emergen Research, the global CRISPR/CAS 9 technology market size was USD 1,404.6 Million in 2020 and is expected to reach USD 6,221 Million in 2028 and register a revenue CAGR of 20.4% during the forecast period, 2021-2028.
Steady revenue growth of the global CRISPR/CAS 9 technology market is primarily driven by increasing government support and funding genetic engineering studies and research programs, growing use of the CRISPR technology in development of new, more advanced treatments for various diseases, including genetic disorders and neurodegenerative diseases, and increasing applications of the technology in research studies for new solutions to crop disease resistance and environmental stress tolerance in plants. CRISPR/CAS 9 is a gene-editing tool widely used by scientist to alter or edit the DNA of different species faster and with high precision.
Advanced CRISPR-based platforms are being developed to help scientists identify the root causes of neurodegenerative diseases such as Parkinson’s disease and Alzheimer’s disease. Hence, other factors contributing to the global CRISPR/CAS 9 technology market revenue growth include growing use of cutting-edge CRISPR/CAS 9 tools in new drug discovery & development and in treatment of single-gene disorders including cystic fibrosis, hemophilia, and sickle cell disease, as well as various heart diseases, HIV (Human Immunodeficiency Virus), cancer, and severe mental illnesses.
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COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Biomedical Application Segment Accounted for Largest Revenue Share in 2020:
In terms of application, the global CRISPR/CAS 9 technology market is mainly segmented into biomedical and agricultural. The biomedical segment – which is sub-categorized into genome engineering, disease model studies, functional genomics, epigenetics, and others – accounted for the largest revenue share in the global market in 2020. Increasing applications of CRISPR/CAS 9 technology in various fields of biomedical science, extensive use of nano-carriers in research and development activities, rising focus on genome engineering for advanced treatment of genetic disorders, such as cystic fibrosis, sickle cell disease, and hemophilia, are major contributors to the growth of this segment.
Biotechnology & Pharmaceutical Companies Segment to Account for Fastest Revenue CAGR:
Based on end-use, the global CRISPR/CAS 9 technology market is segmented into biotechnology & pharmaceutical companies, CROs, academic & government research institutes, and others. The biotechnology & pharmaceutical companies segment is expected to register the fastest revenue growth rate in the global market over the forecast period, owing to factors such as rapid adoption of CRISPR/CAS 9 technology to develop newer, more advanced biological models for various human diseases and rising number of pipeline projects led by leading pharmaceutical and biotechnology companies around the world.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America CRISPR/CAS 9 technology market accounted for the largest revenue share in the global market in 2020. Increased government investments in development of leading-edge solutions genetic disease treatment, increasing initiatives by agricultural companies towards the commercialization of CRISPR-edited crops, rising number of genetic engineering studies and research programs, and presence of leading industry players in the region, including Boston Scientific Corporation, Thermo Fisher Scientific, AstraZeneca PLC, and Lonza, are key factors supporting the North America CRISPR/CAS 9 technology market revenue growth.
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Major Companies in the Global CRISPR/CAS 9 Technology Market Include:
- Merck KGaA
- Boston Scientific Corporation
- Thermo Fisher Scientific
- AstraZeneca PLC
- Caribou Biosciences, Inc.
- Horizon Discovery Group plc
- Applied StemCell
- Synthego Corporation
- OriGene Technologies
- Hera BioLabs
- Takara Bio Inc.
- Cellecta, Inc.
- GeneCopoeia, Inc.
For the purpose of this report, Emergen Research has segmented the global CRISPR/CAS 9 technology market based on product & service type, application, end-use, and region:
Product & Service Type Outlook (Revenue, USD Million; 2018–2028)
- Kits & Enzymes
- Vector-based CAS
- DNA-free CAS
- Design Tool
- Cell Line Engineering
- gRNA Design
- Microbial Gene Editing
- DNA Synthesis
Application Outlook (Revenue, USD Million; 2018–2028)
- Genome Engineering
- Disease Model Studies
- Functional Genomics
End-use Outlook (Revenue, USD Million; 2018–2028)
- Biotechnology & Pharmaceutical Companies
- Contract Research Organizations (CROs)
- Academic & Government Research Institutes
Region Outlook (Revenue, USD Million; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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