CRISPR Technology Market Recent Developments & Trends

 

A recent study by Global Market Studies has shown that the CRISPR Technology Market is rapidly growing at a CAGR of 20.1% and is expected to reach a value of USD 77 billion by 2028. The CRISPR Technology market has been growing at pace in recent years, driven by an increase in investment in research and development, growing demand for gene therapy, and the development of new applications in various industries.

The CRISPR Technology market refers to the market for products and services related to Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) Technology, which is a genome-editing tool that allows scientists to modify genes with high precision and efficiency. The CRISPR Technology market includes products and services related to genome editing, gene therapy, research tools, and agricultural products.

To access a sample of this report and more information on this market 

CRISPR Technology Market Recent Developments & Trends

Market Dynamics

Drivers & Opportunities:

  • Increasing investment in CRISPR research: Governments, universities, and private companies are investing heavily in research related to CRISPR Technology. This has led to the development of new applications and improved understanding of the technology, which is driving the growth of the market.
  • Growing demand for gene therapy: CRISPR Technology has the potential to cure genetic disorders, which has led to increasing demand for gene therapy. As a result, the market for CRISPR-based therapies is expected to grow significantly in the coming years.
  • Development of new applications: CRISPR Technology is being used in a wide range of industries, including agriculture, biotechnology, and pharmaceuticals. This has led to the development of new products and services that are driving the growth of the market.
  • Advancements in gene-editing technology: Advances in gene-editing technology are making it easier and cheaper to use CRISPR Technology. This is expanding the market and making it more accessible to researchers and companies.
  • Prevalence of genetic disorders: The prevalence of genetic disorders is increasing, which is driving demand for gene-editing therapies. CRISPR Technology has the potential to cure several genetic disorders, which is driving the growth of the market.

Restraints & Challenges:

  • Ethical concerns: CRISPR Technology has raised ethical concerns about the potential misuse of gene editing, especially in germline editing, which could have long-term and irreversible consequences.
  • Regulatory challenges: The use of CRISPR Technology in humans is subject to strict regulations, which could slow down the approval process for new treatments and limit the commercialization of CRISPR-based products.
  • Off-target effects: CRISPR Technology can sometimes have off-target effects, meaning it could accidentally modify unintended genes. This is a major challenge for researchers as it could have serious irreversible consequences for patients.
  • Intellectual property disputes: There have been several high-profile patent disputes related to CRISPR Technology, which could impact the commercialization of CRISPR-based products and limit their availability.
  • Safety concerns: The long-term safety of CRISPR-based therapies is still unknown, which could limit their adoption by healthcare providers and patients.

Recent Developments:

  • In August 2022, iNtRON Biotechnology announced the development of a customized CRISPR system for the genetic modification of bacteria and bacteriophage.
  • In May 2022, Caribou Biosciences Inc. presented data on the mechanism underlying the potential of the chRDNA genome-editing technology in primary human T cells. These developments are anticipated to drive the growth of the industry in the coming years.

Partnerships & Collaborations:

  • In January 2022, Beam Therapeutics, a young company bringing base editing to human disease partnered with a pharmaceutical giant Pfizer, announcing an exclusive four-year research collaboration focused on in vivo base editing programs.
  • Early 2022 witnessed a few collaborations in the CRISPR field. AbbVie signed a new deal with Caribou Biosciences to engineer chimeric antigen receptor T cells. Moderna funded a collaboration with Metagenomi to add CRISPR-based and other novel gene editing systems to its mRNA/LNP expertise to develop in vivo gene editing therapeutics. Bayer and Mammoth Biosciences struck a deal for USD 40 million to develop in vivo gene editing therapies.

Key Players

  • Editas Medicine
  • CRISPR Therapeutics
  • Horizon Discovery
  • Sigma-Aldrich
  • Genscript
  • Sangamo Biosciences
  • Lonza Group
  • Integrated DNA Technologies
  • New England Biolabs
  • Origene Technologies
  • Transposagen Biopharmaceuticals
  • Thermo Fisher Scientific
  • Caribou Biosciences
  • Precision Biosciences
  • Cellectis
  • Intellia Therapeutics

Frequently Asked Questions

1) What is the projected market value of the CRISPR Technology Market?

– The CRISPR Technology Market is expected to reach a value of USD 77 billion by 2028.

2) What is the estimated CAGR of the CRISPR Technology Market over the 2023 to 2028 forecast period?

– The CRISPR Technology Market is expected to grow at a CAGR of approximately 20.1% from 2023 to 2028.

3) Who are the key players in the CRISPR Technology Market?

– Editas Medicine, CRISPR Therapeutic, Horizon Discovery, Sigma-Aldrich, Genscript, Sangamo Bioscience, Lonza Group, Integrated DNA Technologies, New England Biolabs, Origene Technologies, Transposagen Biopharmaceuticals, Thermo Fisher Scientific, Caribou Biosciences, Precision Biosciences, Cellectis, Intellia Therapeutics

About Global Market Studies

Global Market Studies is a leading global market research and data services consultancy, providing actionable, objective, bespoke insights to business all over the world across multiple industry verticals also we are specialised in Healthcare market research reports and analysis. With a team of highly-experienced and domain-specific research and data experts focused on high-quality research, we are able to deliver to our clients high-quality market intelligence. Using cutting-edge, proprietary research tools we help our clients identify new market opportunities, apprehend risk early-on, maximize revenue sources and enter disruptive markets. Through a suite of impactful solutions developed using the knowledge of emerging markets, Global Market Studies is able to add real value to clients’ decision-making process so they may stay ahead of change and develop that much-needed competitive edge. We are a global market research company underpinned by quality analysis and unmatched experience combining our forte of swift turnarounds that suit your deadlines along with an ever-growing network of researchers and analysts.

Why Choose Us?

  • Insights into Market Trends: Global Market Studies reports provide valuable insights into market trends, including market size, segmentation, growth drivers, and market dynamics. This information helps clients take strategic decisions, such as product development, market positioning, and marketing strategies.
  • Competitor Analysis: Our reports provide detailed information about competitors, including their market share, product offerings, pricing, and competitive strategies. This data can be used to inform competitive strategies and to identify opportunities for growth and expansion.
  • Industry Forecasts: Our reports provide industry forecasts, which will inform your business strategies, such as investment decisions, production planning, and workforce planning. These forecasts can help you to prepare for future trends and to take advantage of growth opportunities.
  • Access to Industry Experts: Our solutions include contributions from industry experts, including analysts, consultants, and subject matter experts. This access to expert insights can be valuable for you to understand the market. 
  • Time and Cost Savings: Our team at Global Market Studies can save you time and reduce the cost of conducting market research by providing comprehensive and up-to-date information in a single report, avoiding the need for additional market research efforts.

Share this Post if you Find it Useful - 

83422+ Reports Delivered

Accurate market data is crucial to a successful business strategy. With an 85% + accuracy in all reports, makes us one of the best and most accurate firms in the world.

Need Customized ReportCall Now

Recent Post

Industry Verticals