The Business Research Company’s CRISPR Technology Market Report – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, April 21, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Rising focus on gene therapeutics will contribute to the growth of the market for CRISPR technology. Globally, there has been a growing focus on gene therapeutics due to several factors, including increasing prevalence of various genetic disorders such as hemophilia and thalassemia. For instance, according to a study conducted by McMaster University in 2019, more than 1.12 million men had hemophilia and among those, 0.4 million had severe hemophilia. Gene therapy works by introducing DNA containing a functioning gene into a patient to correct the effect of a disease-causing gene. There has been an increasing preference for gene therapy in treatment of several diseases including cancer, cystic fibrosis, and AIDS. This rising demand for gene therapeutics will drive the market for CRISPR technology going forward.
CRISPR is a genome-editing tool. It is used by researchers/healthcare professionals to alter DNA sequences and modify gene function. CRISPR is also used for correcting genetic defects, treating human diseases, and to yield better crop varieties. CRISPR stands for Clusters Of Regularly Interspaced Short Palindromic Repeats. The CRISPR-Cas9 system consists of two key molecules, — Cas9 and guide RNA, that introduce a change or mutation into the DNA at the desired position. Cas9 is an enzyme that acts as a pair of ‘molecular scissors’ and can cut the two strands of DNA at a specific location in the genome so that bits of DNA can then be added or removed. The guide RNA (gRNA is a small piece of pre-designed RNA sequence (about 20 bases long) located within a longer RNA scaffold. The scaffold part binds to DNA and the pre-designed sequence ‘guides’ Cas9 to the right part of the genome. This makes sure that the Cas9 enzyme cuts at the right point in the genome. High orthogonality, versatility, and efficiency of CRISPR technology make it a preferred genome editing technology.
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The global CRISPR technology market is expected to grow from $0.8 billion in 2020 to $0.95 billion in 2021 at a compound annual growth rate (CAGR) of 18.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The CRISPR market size is expected to reach $2.22 billion in 2025 at a CAGR of 24%.
Major players in the CRISPR technology market are Thermo Fisher Scientific, GenScript Biotech Corporation, CRISPR Therapeutics AG, Editas Medicine, Horizon Discovery Plc., Integrated DNA Technologies, Inc. (Danaher), Origene Technologies, Inc., Transposagenbio Biopharmaceuticals (Hera Biolabs), Intellia Therapeutics Inc., and GeneCopoeia Inc.
The CRISPR technology market covered in this report is segmented by product type into design tools, plasmid and vector, CAS9 and G-RNA, delivery system products. The CRISPR technology market is also segmented by application into genome editing/ genetic engineering, genetically modified organisms, agricultural biotechnology, others and by end-user into industrial biotech, biological research, agricultural research, therapeutics and drug discovery.
CRISPR Technology Market – By Product Type (Cas9 And gRNA, Design Tools, Plasmid And Vector, Other Delivery System Products), By End-User (Academic Research Organizations, Biopharmaceutical Companies, Agricultural Biotechnology Companies, Contract Research Organizations (CROs), By Application (Biomedical, Agriculture, Diagnostics and Others), And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides CRISPR technology market overview, forecast CRISPR technology market size and growth for the whole market, CRISPR technology market segments, and geographies, CRISPR technology market trends, CRISPR technology market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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