UK Markets closed
  • FTSE 100

    7,514.21
    +49.41 (+0.66%)
     
  • FTSE 250

    20,031.94
    +107.83 (+0.54%)
     
  • AIM

    960.24
    +4.66 (+0.49%)
     
  • GBP/EUR

    1.1841
    +0.0039 (+0.33%)
     
  • GBP/USD

    1.2479
    +0.0155 (+1.2617%)
     
  • BTC-GBP

    24,079.63
    +277.57 (+1.17%)
     
  • CMC Crypto 200

    673.84
    +431.16 (+177.67%)
     
  • S&P 500

    4,065.86
    +57.85 (+1.44%)
     
  • DOW

    32,483.07
    +259.65 (+0.81%)
     
  • CRUDE OIL

    114.91
    +0.71 (+0.62%)
     
  • GOLD FUTURES

    1,819.10
    +5.10 (+0.28%)
     
  • NIKKEI 225

    26,659.75
    +112.70 (+0.42%)
     
  • HANG SENG

    20,602.52
    +652.31 (+3.27%)
     
  • DAX

    14,165.35
    +200.97 (+1.44%)
     
  • CAC 40

    6,415.60
    +67.83 (+1.07%)
     

CRISPR Technology Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

·8-min read
ReportLinker
ReportLinker

The global CRISPR technology market is estimated to be USD 2,251. 21 million in 2021. It is expected to reach USD 6,453. 96 million by 2027, registering a CAGR of 19. 45% from 2022 to 2027.

New York, April 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "CRISPR Technology Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06271886/?utm_source=GNW
The COVID-19 pandemic is expected to have a positive impact on the market due to an increase in demand for COVID-19 diagnostic tests. For instance, In May 2020, Sherlock Biosciences announced that it had received Emergency Use Authorization from the United States Food and Drug Administration (FDA) for its Sherlock CRISPR SARS-CoV-2 kit which is used for the detection of the virus that causes COVID-19. The Sherlock CRISPR SARS-CoV-2 kit could provide results in approximately one hour, a timeframe that was much lower than the other tests available in the market at that time.

Furthermore, According to the study titled “CRISPR/Cas as a Potential Diagnosis Technique for COVID-19” published in Avicenna Journal of Medical Biotechnology in July 2020, Cas12a is DNA-specific but Cas13a works with RNA which makes it convenient in detection of SARS-CoV-2. Recently, high-sensitivity enzymatic launched (SHERLOCK) technology which is a CRISPR/Cas13 based nucleic acid detection technique for rapid detection of SARS-CoV-2 Such research studies supporting the use of CRIPR technologies also fuel the market’s growth.

Moreover, certain factors that are driving the market growth include increasing government and private funding, rising demand and adoption of crispr, and technological advancements. For the development CRISPR technology government is often funded via individual investigator grants, government, private company, such as research project and program grants that is expected to boost the market. For instance, according to the National Center for Advancing Translational Sciences in 2019, the Somatic Cell Genome Editing (SCGE) Program at the National Institutes of Health (NIH) has awarded 24 more grants to researchers across the United States and Canada. The SCGE Program has awarded a total of USD 89 million in advance genome editing grants, including CRISPR, over the next four years. This brings the total number of projects supported to 45, with approximately USD 190 million in funding spread out over six years. Such grant from the national institutes help to boost the CRISPR technology market over the forecast period.

Additionally, CRISPR technology is driving advances in genome editing across medicine, biotechnology, and agriculture, which has enabled scientists to conduct research in these field through faster and more efficient genome editing across the world. Thus, the demand for CRISPR technology is on the rise due to its easy, fast, and inexpensive access to vectors and the resulting next-generation tools. CRISPR-Cas9 therapies for a wide range of diseases, including inherited eye diseases, neurodegenerative conditions such as Alzheimer’s and Huntington’s disorders, and non-inherited diseases such as cancer and HIV. According to the study title “CRISPR-Cas9 Gene Editing for Sickle Cell Disease and ?-Thalassemia” published in the New England Journal of Medicine in January 2021, CRISPR-Cas9-based gene editing is being tested to treat two cases of inherited diseases: one in a patient with TDT (?-Thalassemia) and the other in a patient with SCD (Sickle Cell Disease). During the 12-month period following the administration of CTX001, both patients experienced early, substantial, and sustained increases in fetal hemoglobin levels with more than 99% pancellularity. Thus, the application of CRISPR technology in Sickle Cell Disease and ?-Thalassemia expected to rise its demand over the forecast period. Thus, the studied market is expected to project growth over the forecast period due to the abovementioned factors.

Key Market Trends

Biomedical is Expected to Hold Significant Market Share in the Application Segment And Expected to Do Same in the Forecast Period

Biomedical segment involves genome engineering, disease model studies, functional genomics and epigenetics among others. CRISPR/Cas9 system is broadly and successfully applied for biomedical discoveries in several areas in particular for the sensing of nucleic-acid-based biomarkers of infectious and non-infectious diseases and for the detection of mutations and deletions indicative of genetic diseases. The rising implementation of CRISPR gene-editing tools in several areas of biomedical sciences has majorly contributed to the high share of this segment.

The advent of CRISPR/Cas9 nuclease provides easy & precise genome editing. Additionally, the introduction of nano-carriers and improved delivery systems have enhanced the efficacy and specificity of this technology. Hence this technology is increasingly adopted in gene and cell therapy arena.

Moreover, CRISPR has several applications in biomedical sciences. For example, CRISPR-Cas9 based genome engineering has been widely used in regenerative medicine. Additionally, this technology has potential to improve cancer immunotherapy by fast-tracking CAR T-cell targets and generation of diseased models.

Furthermore, they also have therapeutic uses which includes treating genetic disorders, drug discovery and identifying cancer biomarker. For instance, As per the article published on Nature in June 2021, preliminary results from a landmark clinical trial suggested that administrating CRISPR–Cas9 gene editing treatment directly into the human body is considered to be safe and effective way to treat a rare, life-threatening condition.

Several companies are also continuously involved in in the market strategies like mergers, acquisition & product launched among others. For instance, in March 2021 Scientists at UC San Francisco, UC Berkeley and UCLA had received U.S. Food and Drug Administration approval for jointly launching an early phase, first-in-human clinical trial of a CRISPR gene correction therapy in patients with sickle cell disease by using the patient’s own blood-forming stem cells.

In June 2021 the companies Vertex Pharmaceuticals Incorporated and CRISPR Therapeutics announced the new data on 22 patients, with follow-up of at least 3 months and ranging from 4 months to 26 months, treated with the CTX001 (investigational CRISPR/Cas9-based gene-editing therapy). Therefore, from the aforementioned factors the biomedical segment is estimated to witness high market share over the forecasted period.

North America Dominates the Market and Expected to do Same in the Forecast Period

The CRISPR market in the North American region is expected to witness significant growth during the study period due to the technological innovations, government policies, product approvals, key initiatives by market players and multiple advantages of CRISPR technology.

The article published by National Cancer Institute titled “How CRISPR Is Changing Cancer Research and Treatment” published in July 2020, stated that the first trial in the United States to test a CRISPR-made cancer therapy was launched in 2019 at the University of Pennsylvania to find whether these treatments are safe or not. Initial findings from the study suggested that CRISPR-based treatments are safe with no evidence of an immune reaction to the CRISPR-edited cells. Such efforts by the researchers are paving way for further studies to utilize CRISPR technology for addressing unmet needs in the healthcare sector.

In March 2021, Health Canada proposed new guidelines for the Novel Food Regulations, specifically focused on plant breeding stating that gene-editing technology in agriculture such as CRISPR is just as safe as conventional plant breeding. These guidelines provide more certainty for plant breeders and crop science companies. Such steps by government is expected to expand the applications of CRISPR thus, boosting the studied market.

Furthermore, competition among the existing players has increased owing to technological developments and their potential applications. There has been an increased focus on the highly adaptable CRISPR technology. For Instance, in November 2021, CRISPR Therapeutics received Regenerative Medicine Advanced Therapy (RMAT) designation from United States (US) Food and Drug Administration (FDA) for CTX110, a wholly-owned gene-edited allogeneic CAR-T cell therapy targeting CD19+ B-cell malignancies. Such developments will help in providing effective treatments over the period of time which will boost the market growth in future.

In July 2021, Incisive Genetics Inc., headquartered in Canada, specializing in the research and development of a novel non-viral delivery platform for targeted CRISPR-based gene therapies, received USD 2.5 million in seed financing round led by Noel Hall and Sandra MacPherson of the MacHall group and Haig Farris. This funding will enable Incisive Genetics to develop its manufacturing process and capabilities, advance key studies to enhance its gene editing delivery platform technology, and further add to its intellectual property portfolio. Such funding will boost innovation in CRISPR technology thereby driving the market. Thus, due to the above-mentioned company activities and increased applications of CRISPR technology in the region, the market is anticipated to grow significantly.

Competitive Landscape

The global CRISPR Technologymarket is highly competitive and consists of a number of major players. Companies like Agilent Technologies, Cellecta, Inc., GeneCopoeia, Inc., GenScript, PerkinElmer, Inc. (Horizon Discovery Group), Danaher Corporation (Integrated DNA Technologies (IDT)), Merck KGaA, New England Biolabs, Origene Technologies, Inc., Thermo Fisher Scientific, among others, hold the substantial market share in the CRISPR technology market.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06271886/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________

CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001


Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting