Commandité

CRISPR Market worth $7.1 Billion

0
3KB

The global CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) market shows strong growth potential in the coming years, according to a new report from MarketsandMarkets. The market, valued at $3.4 billion in 2023, is projected to reach $7.1 billion by 2028 expanding at a compound annual growth rate (CAGR) of 15.6%.

North America currently leads the global CRISPR market owing to a well-established research infrastructure, increasing demand for precision medicine, a favorable regulatory climate, and significant funding for the biotechnology and healthcare sectors. However, the high costs associated with CRISPR research and products could restrain smaller research institutions and academic centers in the region which have limited budgets.

Request for Free Sample Report

The growth of the CRISPR market is fueled by rising demand for CRISPR-based gene therapies, continuous advancements in CRISPR technology, and increased government funding and investments. For example, in February 2023, Indian biotech startup CrisprBits raised $250,000 in pre-seed funding to develop CRISPR-based diagnostics for detecting pathogens and antimicrobial resistance. However, technical challenges related to precision genome editing, off-target effects, and delivery efficiency issues pose restraints.

New Treatment Options for Genetic Diseases Offer Significant Opportunities

CRISPR technology shows immense potential in developing innovative vaccines and therapies for genetic diseases representing a major future growth opportunity. For example, Editas Medicine is testing CRISPR gene editing for sickle cell disease while Vertex Pharmaceuticals and CRISPR Therapeutics are running clinical trials for beta-thalassemia. However, developers need to overcome regulatory hurdles arising from ethical, legal, safety and social implications.

Among end-users, pharmaceutical and biotech companies dominated the market in 2023 due to rising demand for targeted and personalized genetic medicines enabled by precise CRISPR-based gene editing. Academic institutes and CROs also show high growth potential.

On the products and services front, CRISPR enzymes, kits and libraries accounted for the largest revenue share owing to significant advances in gene editing techniques. However, services like gRNA design, cell line engineering and screening are also gaining traction.

Key Players Expand Product Portfolios and Production Capabilities

Major companies operating in the global CRISPR market include Thermo Fisher Scientific, Merck KGaA, Genscript Biotech, CRISPR Therapeutics, Beam Therapeutics and Editas Medicine among others. These players are investing significantly in expanding their product portfolios and GMP manufacturing capabilities to meet increasing demand.

Request for Free Sample Report

For instance, in April 2022, Thermo Fisher Scientific launched a new GMP-grade CRISPR protein to support cell therapy research while Merck has signed licensing deals with companies like Takara Bio USA and PanCELLa Therapeutics to provide access to its CRISPR IP and technologies for specific applications.

Overall, increasing investment in R&D and strategic partnerships among developers is expected to result in new product launches and clinical breakthroughs that will catalyze the growth of the global CRISPR market size over the next five years.

Top 10 Companies in the Tissue Diagnostics Market
Top 10 Companies in Human Capital Management Market
Top 10 Companies Leading the Patient Engagement Solutions Market
Top 10 Companies in the Blood Collection Devices Market

Commandité
Commandité
Rechercher
Commandité
Catégories
Lire la suite
Autre
Power Distribution Component Market Segmentation and Opportunities Forecast by 2030
We used primary and secondary research methods to examine the Power Distribution Component...
Par Nick_Tech 2024-02-06 07:41:47 0 5KB
Networking
Fitness App Market will reach at a CAGR of 20.8% from to 2033
According to the Market Statsville Group (MSG), the Global Fitness App Market size...
Par vipinmsg 2025-04-25 06:43:53 0 2KB
Autre
Paints & Coatings Market Share Will Hit USD 141.81 billion in 2030 | Says SNS Insider
Paints & Coatings Market Overview: A market research report is an excellent source of...
Par priti1 2023-10-18 12:37:37 0 4KB
Party
巴黎世家沙漏包:時尚與功能的完美融合
在時尚界,巴黎世家(Balenciaga)的名字總是與前沿設計和卓越品質緊密相連。而巴黎世家沙漏包,則是這一品牌旗下的又一經典之作。這款包以其獨特的沙漏形狀、精湛的工藝和多功能性,迅速成為時尚界...
Par pingguo11 2024-10-23 06:38:39 0 4KB
Autre
Flats in Pune 2025 Is It the Right Time to Invest in Triton Residency?
The Pune real estate market has been one of the most promising investment avenues in India, and...
Par socialmedia1234 2025-09-11 06:13:48 0 351
Commandité
TikTikTalk https://tiktiktalk.com