According to the new market research report “CRISPR Technology Market by Product (CRISPR Enzymes, Kits), Service (Design & Vector Construction, Cell Line Engineering, Screening), Application (Biological & Biomedical, Agricultural, Industrial), End User (Pharmaceutical & Biotechnology Companies, Academics Institutes & Research Centers, CROs) - Global Analysis & Forecast 2019-2030”, published by Market Industry Reports, the global CRISPR technology market was valued at over US$ 550.0 Mn in 2017 and is expected to grow at a double digit CAGR during the forecasted period.
New York, NY -- (SBWIRE) -- 03/05/2019 -- The Study On Major Key Players in the CRISPR Technology Market are Addgene, Caribou Biosciences, Inc., Merck KGaA, Horizon Discovery Group plc,CRISPR THERAPEUTICS, Mirus Bio LLC, Takara Bio USA, Editas Medicine, Thermo Fisher Scientific, Inc., GE Healthcare Dharmacon Inc. and Intellia Therapeutics, Inc. Companies are involved in collaborations to gain share in the market.For instance, Caribou Biosciences develop CRISPR technology in collaboration with the research based on University of California.
Key factors driving the growth of the market include the increasing funding from the private and government organizations and the high implementation of CRISPR technology. Currently, the technology is considered as a valuable tool for the biopharmaceutical and biotechnology companies to conduct highly efficient and cost effective genome editing procedures.
Increasing prevalence of genetic disorders, promoting the growth of market
The CRISPR technology is focused on development or growth of the gene therapeutics for the treatment of several genetic disorders including hemophilia, thalassemia, and sickle cell anemia, among others. The growing prevalence of hereditary disorders is promoting the growth of the market, for improved treatment and better quality of life for patients. According to Center for Disease Control and Prevention (CDC), in 2017, almost 1000 people in U.S. suffer from the most severe form of the thalassemia every year.
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Growing application of genome engineering/editing to propel the market growth
Genome editing accounted for the major share in 2015 due to increase in the adoption of various genome editing procedures for therapeutic development and germ line modifications. High implementation in plant genome editing is also supportive for the market growth.
CRISPR holds potential to become a substitute biotechnology treatment for supporting or replacement of the current single-antibody drugs. Furthermore genome editing that is proposed to switch on the immune response for cancer is anticipated to drive the industrial growth significantly.
Repeated off-target and safety studies to restrain the market growth
Reducing the length of the director sequence from 20 to 18 nucleotides can increase specificity up to 5,000 times without affecting cutting efficiency. However, every new CRISPR-based therapy requires a new sgRNA, safety and off-target studies will need to be performed each time which is expected to restrain growth of the market.
Global CRISPR Technology Market - Analysis & Forecast, By Application
- Biological & Biomedical Applications
- Agricultural Applications
- Industrial Applications
- Other Applications
Global CRISPR Technology Market - Analysis & Forecast, By End User
- Academic Institutes & Research Centers
- Contract Research Organizations (CROs)
- Pharmaceutical & Biotechnology Companies
- Other End User
View Full Report Details and Table of Contents- https://www.marketindustryreports.com/6/crispr-technology-market
Key points from TOC
11 COMPANY PROFILES
(Business Overview, Products/Services Offered, Financial Performance, R&D Intensity, Marketing & Sales Intensity, Recent Developments, Analyst Corner)*
11.1 Merck KGaA
11.2 Thermo Fisher Scientific
11.3 Agilent Technologies
11.4 Integrated DNA Technologies (IDT)
11.6 GeneCopoeia, Inc.
11.7 New England Biolabs
11.8 Origene Technologies, Inc.
11.9 Transposagen Biopharmaceuticals, Inc
11.10 Allied StemCell. Inc.
This CRISPR Technology market report holds answers to some important questions like:
- What is the size of occupied by the prominent leaders for the forecast period, 2019 to 2030? What will be the share and the growth rate of the CRISPR Technology market during the forecast period?
- What are the future prospects for the CRISPR Technology industry in the coming years?
- Which trends are likely to contribute to the development rate of the industry during the forecast period, 2019 to 2030?
- What are the future prospects of the CRISPR Technology industry for the forecast period, 2019 to 2030?
- Which countries are expected to grow at the fastest rate?
- Which factors have attributed to an increased sale worldwide?
- What is the present status of competitive development?
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