The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The development of genome engineering with potential applications proved to reflect a remarkable impact on the future of the healthcare and life science industry. The high efficiency of the CRISPR-Cas9 system has been demonstrated in various studies for genome editing, which resulted in significant investments within the field of genome engineering. However, there are several limitations, which need consideration before clinical applications. Further, many researchers are working on the limitations of CRISPR gene editing technology for better results. The potential of CRISPR gene editing to alter the human genome and modify the disease conditions is incredible but exists with ethical and social concerns. The global CRISPR gene editing market was valued at $846.2 million in 2019 and is expected to reach $10,825.1 million by 2030, registering a CAGR of 26.86% during the forecast.
The growth is attributed to the increasing demand in the food industry for better products with improved quality and nutrient enrichment and the pharmaceutical industry for targeted treatment for various diseases. Further, the continued significant investments by healthcare companies to meet the industry demand and growing prominence for the gene therapy procedures with less turnaround time are the prominent factors propelling the growth of the global CRISPR gene editing market.
Research organizations, pharmaceutical and biotechnology industries, and institutes are looking for more efficient genome editing technologies to increase the specificity and cost-effectiveness, also to reduce turnaround time and human errors. Further, the evolution of genome editing technologies has enabled wide range of applications in various fields, such as industrial biotech and agricultural research. These advanced methods are simple, super-efficient, cost-effective, provide multiplexing, and high throughput capabilities. The increase in the geriatric population and increasing number of cancer cases, and genetic disorders across the globe are expected to translate into significantly higher demand for CRISPR gene editing market.
Furthermore, the companies are investing huge amounts in the research and development of CRISPR gene editing products, and gene therapies. The clinical trial landscape of various genetic and chronic diseases has been on the rise in recent years, and this will fuel the CRISPR gene editing market in the future.
Within the research report, the market is segmented based on product type, application, end-user, and region. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.
The exponential rise in the application of precision medicine on a global level has created a buzz among companies to invest in the development of novel CRISPR gene editing. Due to the diverse product portfolio and intense market penetration, Merck KGaA, and Thermo Fisher Scientific Inc. have been the pioneers in this field and have been the major competitors in this market. The other major contributors of the market include companies such as Integrated DNA Technologies (IDT), Genscript Biotech Corporation, Takara Bio Inc, Agilent Technologies, Inc., and New England Biolabs, Inc.
Based on region, North America holds the largest share of CRISPR gene editing market due to substantial investments made by biotechnology and pharmaceutical companies, improved healthcare infrastructure, rise in per capita income, early availability of approved therapies, and availability of state-of-the-art research laboratories and institutions in the region. Apart from this, Asia-Pacific region is anticipated to grow at the fastest CAGR during the forecast period.
Market Report Coverage - CRISPR Gene Editing
- Product Type – CRISPR Products: Kits and Enzymes (Vector-Based Cas9, and DNA-Free Cas9), Libraries, Design Tools, Antibodies, and Other Products (CRISPR/Cas9 plasmids, CRISPR Controls, and CRISPR RNAs); CRISPR Services: gRNA Design and Vector Construction, Cell Line and Engineering, Screening Services, and Other Services (Mediated Transcriptome Editing, and Epigenome Editing Services)
- Application – Agricultural, Biomedical (Gene Therapy, Drug Discovery, And Diagnostics), Industrial, and Other Applications [Genetically Modified Foods (GM Foods), Biofuel, And Animal (Livestock) Breeding]
- End-User - Academic Institutes and Research Centers, Biotechnology Companies, Contract Research Organizations (CROs), and Pharmaceutical and Biopharmaceutical Companies
- North America – U.S., Canada
- Europe – Germany, France, Italy, U.K., Spain, Switzerland, and Rest-of-Europe
- Asia-Pacific – China, Japan, India, South Korea, Singapore, Australia, and Rest-of-Asia-Pacific (RoAPAC)
- Latin America – Brazil, Mexico, and Rest-of-the-Latin America
- Prevalence of Genetic Disorders and Use of Genome Editing
- Government and Private Funding
- Technology Advancement in CRISPR Gene Editing
- CRISPR Gene Editing: Off Target Effects and Delivery
- Ethical Concerns and Implications with Respect to Human Genome Editing
- Expanding Gene and Cell Therapy Area
- CRISPR Gene Editing Scope in Agriculture
Key Companies Profiled
Abcam, Inc., Applied StemCell, Inc., Agilent Technologies, Inc., Cellecta, Inc., CRISPR Therapeutics AG, Thermo Fisher Scientific, Inc., GeneCopoeia, Inc., GeneScript Biotech Corporation, Horizon Discovery Group PLC, Integrated DNA Technologies, Inc., Merck KGaA, New England Biolabs, Inc., Origene Technologies, Inc., Rockland Immunochemicals, Inc., Synthego Corporation, System Biosciences LLC, ToolGen, Inc., Takara Bio
Key questions answered in this report:
- What is CRISPR gene editing?
- What is the timeline for the development of CRISPR technology?
- How did the CRISPR gene editing market evolve, and what is its scope in the future?
- What are the major market drivers, restraints, and opportunities in the global CRISPR gene editing market?
- What are the key developmental strategies that are being implemented by the key players to sustain this market?
- What is the patent landscape of this market? What will be the impact of patent expiry on this market?
- What is the impact of COVID-19 on this market?
- What are the guidelines implemented by different government bodies to regulate the approval of CRISPR products/therapies?
- How is CRISPR gene editing being utilized for the development of therapeutics?
- How will the investments by public and private companies and government organizations affect the global CRISPR gene editing market?
- What was the market size of the leading segments and sub-segments of the global CRISPR gene editing market in 2019?
- How will the industry evolve during the forecast period 2020-2030?
- What will be the growth rate of the CRISPR gene editing market during the forecast period?
- How will each of the segments of the global CRISPR gene editing market grow during the forecast period, and what will be the revenue generated by each of the segments by the end of 2030?
- Which product segment and application segment are expected to register the highest CAGR for the global CRISPR gene editing market?
- What are the major benefits of the implementation of CRISPR gene editing in different field of applications including biomedical research, agricultural research, industrial research, gene therapy, drug discovery, and diagnostics?
- What is the market size of the CRISPR gene editing market in different countries of the world?
- Which geographical region is expected to contribute to the highest sales of CRISPR gene editing market?
- What are the reimbursement scenario and regulatory structure for the CRISPR gene editing market in different regions?
- What are the key strategies incorporated by the players of global CRISPR gene editing market to sustain the competition and retain their supremacy?