The CRISPR technology market is a sector within the biotechnology and genetic engineering industry that revolves around Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) and CRISPR-associated (Cas) proteins. CRISPR technology allows precise gene editing, manipulation, and modification in various organisms. It has revolutionized genetic research, drug development, and potential gene therapies. This market includes CRISPR tools, kits, and services used by academic researchers, biotechnology companies, and pharmaceutical firms involved in gene editing and genetic engineering projects.
According to the new market research report "CRISPR Market by Product (Enzymes, Kits, Libraries), Services (gRNA design, Cell Line Engineering, Screening), Application (Drug Discovery & Development, Agriculture), End User (Pharma, Biotech, CROs, Research Institutes) - Global Forecast to 2028"
The global CRISPR market in terms of revenue was estimated to be worth $3.4 billion in 2023 and is poised to reach $7.1 billion by 2028, growing at a CAGR of 15.6% from 2023 to 2028.
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DRIVER: Growing Investment and Funding from the Government for CRISPR Technology
In recent years, there has been a notable increase in investment and funding from governments worldwide specifically directed towards CRISPR technology. This has created a conducive environment for research and development in the field, enabling breakthrough discoveries and propelling the market forward. For instance, in February 2023, Indian biotechnology start-up CrisprBits has raised $250,000 in pre-seed funding from US-based VJ Group. The funding will be used to develop products, expand the team and invest in research and development. CrisprBits plans to develop CRISPR-based diagnostics to detect pathogens and antimicrobial resistance genes.
Prominent companies in the market include well established, financially stable manufacturers of CRISPR products. These companies have been operating in the market for several years and possess diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks. Prominent companies in this market include Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Genscript Biotech Corporation (China), CRISPR Therapeutics AG (Switzerland), Editas Medicine (US), Intellia Therapeutics, Inc. (US), Beam Therapeutics Inc. (US), Caribou Biosciences, Inc. (US), Lonza Group, Ltd. (Switzerland), Danaher Corporation (US), PerkinElmer, Inc. (US), Hera Biolabs (US), OriGene Technologies, Inc. (US), Cellecta, Inc. (US), Mammoth Biosciences, Inc. (US), Applied StemCell (US), New England Biolabs Inc. (US), ToolGen Inc. (South Korea), GeneCopoeia, Inc. (US), Twist Bioscience Corporation (US), Synthego Corporation (US), eGenesis (US), Inscripta, Inc. (US), and Precision BioSciences, Inc. (US).
Report Objectives
- To provide detailed information regarding the major factors (such as drivers, restraints, opportunities, and challenges) influencing the market growth
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To strategically analyze the market structure and profile the key players of the market and comprehensively analyze their core competencies
- To forecast the size of the market segments with respect to four regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa)
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