Dublin, Jan. 14, 2022 (GLOBE NEWSWIRE) -- The "CRISPR Gene Editing Market - A Global and Regional Analysis: Focus on Product, Application, End User, and Country-Wise Analysis - Analysis and Forecast, 2020-2031" report has been added to ResearchAndMarkets.com's offering.
The global CRISPR gene editing market was valued at $1,088.6 million in 2020, and it is expected to reach $18,856.6 million by 2031, registering a CAGR of 29.60% during the forecast period.
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, with so many advantages, limitations also exist, 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 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 specificity and cost-effectiveness, and reduce turnaround time and human errors. Further, the evolution of genome editing technologies has enabled the exploration of a wide range of applications in various fields, such as industrial, biotechnology, and agricultural research.
These advanced methods are simple, super-efficient, cost-effective, provide multiplexing and high throughput capabilities. The rising geriatric population and the increasing number of cancer cases and genetic disorders across the globe are expected to translate into significantly higher demand for the CRISPR gene editing market.
Furthermore, the companies are investing a huge amount in researching and developing 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. This will help in the growth of 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 globally 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 and major competitors in this market.
The other major contributors to the market include 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 the 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, the Asia-Pacific region is anticipated to grow at the fastest CAGR during the forecast period.
Market Growth Drivers
Prevalence of Genetic Disorders and Use of Gene Editing
Government and Private Funding
Technology Advancement in CRISPR Gene Editing
Off-Target Effects and Delivery
Ethical Concerns and Implications with Respect to Human Gene Editing
Expanding Gene and Cell Therapy Area
CRISPR Gene Editing Scope in Agriculture
Market Report Coverage - CRISPR Gene Editing
Product Type - CRISPR Products (Kits and Enzymes, Libraries, Design Tools, Antibodies, and Other Products), CRISPR Services (gRNA Design & Vector Construction, Cell Line and Engineering, Screening Services, and Other Services)
Application - Agriculture, Biomedical (Gene Therapy, Drug Discovery, And Diagnostics), Industrial, and Other Applications
End User - Academic Institutes and Research Centers, Biotechnology Companies, Contract Research Organizations (CROs), and Pharmaceutical and Biopharmaceutical Companies
Funding Scenario: Public Companies
Funding Scenario: Private Companies
Funding Scenario: Government Organizations
Regulatory Scenario of CRISPR Gene Editing Market
Legal Requirements and Frameworks in the U.S.
Clinical Trial Authorization
USFDA Guidelines for BLA Submission
Legal Requirements and Frameworks in Europe
EMA Biologics License Application Process
Legal Requirements and Frameworks in Asia-Pacific
Legal Requirements and Framework in Japan
Expedited Regulatory Designations around the World
Pricing of CRISPR Gene Editing
Reimbursement of CRISPR Gene Editing
CRISPR Gene Editing: Insurance Coverage in the U.S.
CRISPR Gene Editing Pipeline Analysis
OTQ923 and HIX763
Early Stage Emerging CRISPR Therapies
Key Companies Profiled
Applied StemCell, Inc.
Agilent Technologies, Inc.
CRISPR Therapeutics AG
Thermo Fisher Scientific, Inc.
GenScript Biotech Corporation
Horizon Discovery Group PLC
Integrated DNA Technologies, Inc.
New England Biolabs, Inc.
Origene Technologies, Inc.
Rockland Immunochemicals, Inc.
System Biosciences LLC
For more information about this report visit https://www.researchandmarkets.com/r/3y2y5q
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