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The CRISPR technology market size is forecast to increase by USD 2.72 billion, at a CAGR of 18.51% between 2023 and 2028. The genetic industry is experiencing significant growth due to the increasing demand for treatments of genetic diseases and the rising adoption of genome editing across various sectors, including biotechnology, medical, and agriculture. CRISPR technology, a revolutionary gene-editing tool, is at the forefront of this trend, driving intensive research and development (R&D) activities. CRISPR's versatility and efficiency in modifying DNA sequences have made it an essential tool for creating new therapies, improving crop yields, and advancing scientific research. With the potential to cure genetic diseases, enhance food production, and revolutionize various industries, the future of CRISPR technology looks promising. The growing demand for genetic solutions and the continuous advancements in CRISPR technology are expected to fuel its adoption and expansion in the coming years.
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The market is expanding rapidly, driven by advancements in agricultural applications and new delivery methods for various technologies. In the realm of genetic illnesses and inherited conditions, clinical trials are exploring innovative solutions to improve safety and therapeutic efficacy. This includes targeting specific DNA regions to enhance disease resistance and address oncological and hematological disorders, as well as neurological disorders and infectious diseases. Investors are keenly interested in the evolving field due to its potential to revolutionize treatment approaches, though concerns about off-target toxicity and the safety and effectiveness profiles of emerging therapies remain. For instance, phage infections and the role of caspase enzymes are being studied to refine treatment strategies and mitigate risks. The integration of these developments into the market underscores a broader trend towards more precise and effective health solutions, reflecting ongoing innovation and research.
One of the key factors driving the global CRISPR technology industry growth is the increasing demand for the treatment of genetic diseases. The evolving landscape of CRISPR technology could end the after-effects of incurable diseases. CRISPR technology offers an opportunity to treat fatal and incurable genetic diseases. The demand for CRISPR technology is increasing as it is easy, fast, and gives inexpensive access to vectors. CRISPR technology has made gene editing possible and the treatment of sickle cell disease and B-thalassemia, Huntingtons', and Parkinsons' diseases. The effective cure for hereditary blindness and cancer using gene therapy is also in the pipeline. The R&D in CRISPR will allow gene editing at a much more granular level and enable the easy removal of any misbehaving gene, which is expected to decrease the effects of deadly genetic diseases such as cystic fibrosis in the forecast period.
Significant Market Trends
Advent of CRISPR/ Cas9 is one of the key CRISPR-Cas9 technology market trends that is expected to impact the industry positively in the forecast period. Technological advances such as AI, ML, blockchain, advanced analytics, Big Data, IoT, AR, and virtual reality (VR) are expected to pave the way for the adoption of progressive business solutions. Significant investments in R&D have resulted in several technological advances such as CRISPR/Cas9, which is a fast, accurate, efficient, and cost-effective genome editing tool. CRISPR/Cas9 allows researchers to edit parts of the genome by editing the DNA sequence safely and altering the entire gene function. Several other gene-editing technologies, such as transcription activator-like effector nucleases (TALEN) and zinc-finger nucleases (ZFN), have also been launched in the market.
Major Market Challenge
One of the key challenges to the global CRISPR technology industry growth is the ethical issues associated with CRISPR technology. Gene editing is considered unethical as it is associated with the injection of genes into a body and altering the entire gene structure of an organism. For instance, germline modification using CRISPR technology, which specifically targets the egg and sperm cells, enables the inserted gene to be passed on to future generations. The use of such sophisticated gene therapies may trigger an ethical debate across the world, which is a key challenge for the growth of the global CRISPR market. In the US, federal funds cannot be used for research related to CRISPR technology as it is considered unethical. Such factors may limit the growth of the market in the forecast years.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Danaher Corp.: The company offers Alt-R CRISPR-Cas9 System that is an optimized genome editing solution that outperforms other CRISPR approaches for producing on-target, double-stranded DNA breaks
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The biological application segment is estimated to witness significant growth during the forecast period. The growth of the biological application segment in the global CRISPR technology market is driven by the increasing number of biomedical research studies being conducted in universities and research institutions. The increasing awareness about the need for multidisciplinary and interdisciplinary genetics research studies to treat complex diseases and disorders has given a boost to biomedical research. Molecular oncology research studies, especially cancer biology and immuno-oncology research studies, contribute a major share of the revenue in the global CRISPR technology market.
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The biological application segment accounted for USD 481.20 million in 2018 and showed a gradual increase during the forecast period. Various vendors provide optimized services such as DNA and ribonucleic acid (RNA) oligos, custom sequencing, and standard gene, complex gene, gene strand, and gene expression. The increasing funding for academic biomedical research further promotes and improves research quality. For instance, in June 2023, the National Institutes of Health (NIH) announced funding USD22 million from the NIHs Somatic Cell Genome Editing (SCGE) program, researchers at the Innovative Genomics Institute (IGI) at UC Berkeley, The Ohio State University Wexner Medical Center and College of Medicine, and UC San Francisco are developing new approaches to treat multiple neurodegenerative diseases as well as clinical tests to help new CRISPR-based therapies reach patients. Thus, the biological application segment of the global CRISPR technology market will witness growth during the forecast period.
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North America is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The growth of the CRISPR technology market in North America is driven by the increasing spending on research, the presence of biotechnology companies and vendors that offer gene-editing services, and the high focus on biomedical research by universities and research institutions. The application of gene editing or modification services in the region range from antibody construction to protein modification and mutation. CRISPR-Cas9-based genome engineering is significantly used for the development of regenerative medicines. It has the potential to cure cancer with immunotherapy by fast-tracking CAR T-cell targets.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The market is significantly influenced by advancements in biotechnological procedures and gene editing technologies. Innovations in genome editing technology, such as CRISPR and Cas genes, are being integrated into therapy delivery systems, which are crucial for addressing unmet medical conditions and rare genetic diseases. This integration promotes sustainability and enhances nutritional value through improved food security and environmental cleanup. Academic institutions and regulatory agencies are critical in overseeing the commercialization of these technologies, navigating regulatory obstacles, and managing intellectual property conflicts including patent rights and license terms. Investors are attracted to this market due to its potential for creativity and substantial returns in adjacent markets. Additionally, industrial biotechnology contributes to advancements in industrial processes and biofuel production. The gene editing tools market and electroporation technologies further drive public trust and investment in this evolving field.
Market Scope |
|
Report Coverage |
Details |
Page number |
143 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 18.51% |
Market growth 2024-2028 |
USD 2.72 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
15.88 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 46% |
Key countries |
US, UK, Canada, Germany, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Addgene Inc., Agilent Technologies Inc., Applied StemCell Inc., Caribou Biosciences Inc., Cellecta Inc., CRISPR Therapeutics AG, Danaher Corp., Editas Medicine Inc., GeneCopoeia Inc., GenScript Biotech Corp., Intellia Therapeutics Inc., Lonza Group Ltd., Merck KGaA, Mirus Bio LLC, New England Biolabs Inc., Novartis AG, OriGene Technologies Inc., Perkin Elmer Inc., Synthego Corp., and Thermo Fisher Scientific Inc. |
Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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