CRISPR Technology Market Overview and Introduction

Global CRISPR Technology Market is estimated to be over US$ 550.0 Million in 2018. It is anticipated to grow at a 24.0% CAGR from 2019 to 2030 and is expected to grow at a double digit CAGR during the forecasted period.The global CRISPR Technology market is segmented by product & services, application, end user, and region.

CRISPR Technology is relatively new technology used in genome editing or gene editing; CRISPR-CAS-9 is cluster of palindromic repeats and is found naturally in bacteria. These sequence enable the bacteria to protection them from virus by producing RNA segment or enzyme that cleaves the virus DNA and deactivates the virus. This ability of CRISPR-CAS9 has allowed scientist to make DNA and RNA libraries as per their need and applications. CRISPR-CAS9 technology have potential applications in the field of treating human diseases, creating gene libraries, and manipulating cell functions like metabolism.

The global CRISPR technology market is driven by growing focus of market players in CRISPR-CAS9 technology, availability of government and private funding and rising incidences related to genetic disorders are major factors driving the market. However, ethical issue, stringent regulatory policy and lack of skilled professionals are likely to restrain the market to certain extent.

CRISPR Technology Market by Product & Services

On the basis of product, the CRISPR technology market is segmented into CRISPR Kits, Enzymes and Services. The CRISPR services are further sub-segmented into design & vector construction, cell line engineering, screening services and other services.

CRISPR Technology Market by Application

Based on application, the market is segmented into biological & biomedical applications, agricultural applications, industrial applications and other applications.

CRISPR Technology Market by End User

On the basis of end user, the CRISPR technology market is segmented into academic institutes & research centers, contract research organizations (CROs), pharmaceutical and biotechnology companies and other end users.

CRISPR Technology Market by Regions

The global CRISPR technology industry can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). North America dominated the market of CRISPR technology, followed by Europe and Asia Pacific. North America will continue to dominate the global CRISPR technology market in the forecast period owing to factors such as growing research in the field of CRISPR technology and adoption of CRISPR technology. Moreover However, Asia Pacific is expected to witness the highest CAGR, with the growth in this market centered at China, India, and Japan. Factors such as the government support are driving the growth of the CRISPR technology market in this region.

CRISPR Technology Market Prominent Players

The prominent players in the global CRISPR Technology market are Thermo Fisher Scientific, Inc., GenScript, Merck KGaA, GeneCopoeia, Inc., Integrated DNA Technologies, Inc., Transposagen Biopharmaceuticals, Inc., OriGene Technologies, Inc., New England Biolabs, Agilent Technologies, and Applied StemCell, Inc., among others.