DUBLIN, Nov. 25, 2022 /PRNewswire/ — The “CRISPR Technology Global Market Report 2022, By Product Type, By Application, By End-User” report has been added to ResearchAndMarkets.com’s offering.
The global CRISPR technology market is expected to grow from $1064.91 million in 2021 to $1327.27 million in 2022 at a compound annual growth rate (CAGR) of 24.6%. 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 market is expected to reach $3112.26 million in 2026 at a CAGR of 23.7%.
The main types of products in CRISPR technology are design tools, plasmid and vector, CAS9 and G-RNA and delivery system products. CRISPR-Cas9 is a groundbreaking technology that allows geneticists and medical researchers to edit portions of the genome by removing, inserting, or changing DNA sequences. The different applications include genome editing or genetic engineering, genetically modified organisms, agricultural biotechnology, others and are used by several sectors such as industrial biotech, biological research, agricultural research, therapeutics and drug discovery.
The application of CRISPR technology as a diagnostic tool is expected to boost the market during the period. The Sherlock CRISPR SARS-CoV-2 kit is the first diagnostic kit based on CRISPR technology for infectious diseases caused due to COVID-19. In May 2020, FDA announced the emergency use authorization to the Sherlock BioSciences Inc’s Sherlock CRISPR SARS-CoV-2 kit which is a CRISPR-based SHERLOCK (Specific High-sensitivity Enzymatic Reporter unLOCKing) diagnostic test. This test helps in specifically targeting RNA or DNA sequences of the SARS-CoV-2 virus from specimens or samples such as nasal swabs from the upper respiratory tract and fluid in the lungs from bronchoalveolar lavage specimens. This diagnostic kit has high specificity and sensitivity and does not provide false negative or positive results. Widening the application of CRISPR technology for the diagnosis of infectious diseases will increase the demand for CRISPR technology products and services.
Stringent government regulations are expected to retard the growth of the CRISPR technology market during the period. There is no existence of internationally agreed regulatory framework for gene editing products and countries are in the process of evaluating whether and to what extent current regulations are adequate for research conducted with gene editing and applications and products related to gene editing. The Court of Justice of the European Union ruled that it would treat gene-edited crops as genetically modified organisms, subject to stringent regulation. In April 2019, the Australian government stated that the Office of the Gene Technology Regulator (OGTR) will regulate only the gene-editing technologies that use a template, or that insert other genetic material into the cell. According to an article of 2020, in India, as per the National Guidelines for Stem Cell Research, genome modification including gene-editing by CRISPR-Cas9 technology of stem cells, germ-line stem cells or gamete and human embryos is restricted only to in-vitro studies. Thus, strict regulations by the government present a threat to the growth of the market.
Several advancements in CRISPR technology are trending in the market during the period. Advancements in technology will help in reducing errors, limiting unintended effects, improving the accuracy of the tool, widening its applications, developing gene therapies and more. In 2019, a study published in Springer Nature stated the development of an advanced super-precise new CRISPR tool that allows researchers more control over DNA changes.
1) By Product Type: Design Tools; Plasmid And Vector; Cas9 And G-RNA; Delivery System Products
2) By Application: Genome Editing/Genetic Engineering; Genetically Modified Organisms; Agricultural Biotechnology; Others
3) By End-User: Industrial Biotech; Biological Research; Agricultural Research; Therapeutics And Drug Discovery
Key Topics Covered:
1. Executive Summary
2. CRISPR Technology Market Characteristics
3. CRISPR Technology Market Trends And Strategies
4. Impact Of COVID-19 On CRISPR Technology
5. CRISPR Technology Market Size And Growth
6. CRISPR Technology Market Segmentation
7. CRISPR Technology Market Regional And Country Analysis
8. Asia-Pacific CRISPR Technology Market
9. China CRISPR Technology Market
10. India CRISPR Technology Market
11. Japan CRISPR Technology Market
12. Australia CRISPR Technology Market
13. Indonesia CRISPR Technology Market
14. South Korea CRISPR Technology Market
15. Western Europe CRISPR Technology Market
16. UK CRISPR Technology Market
17. Germany CRISPR Technology Market
18. France CRISPR Technology Market
19. Eastern Europe CRISPR Technology Market
20. Russia CRISPR Technology Market
21. North America CRISPR Technology Market
22. USA CRISPR Technology Market
23. South America CRISPR Technology Market
24. Brazil CRISPR Technology Market
25. Middle East CRISPR Technology Market
26. Africa CRISPR Technology Market
27. CRISPR Technology Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The CRISPR Technology Market
29. CRISPR Technology Market Future Outlook and Potential Analysis
Thermo Fisher Scientific
GenScript Biotech Corporation
CRISPR Therapeutics AG
Horizon Discovery Plc.
Integrated DNA Technologies Inc. (Danaher)
Origene Technologies Inc.
Transposagenbio Biophramaceuticals (Hera Biolabs)
Intellia Therapeutics Inc.
Lonza Group Ltd.
New England Biolabs Inc.
Novartis International AG
GE Healthcare Dharmacon Inc.
For more information about this report visit https://www.researchandmarkets.com/r/53w4y5
Research and Markets
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SOURCE Research and Markets