The growth of the market is attributed to growing availability of private and government funding coupled with increasing adoption of CRISPR technology
Vancouver, BC -- (SBWIRE) -- 02/03/2021 -- CRISPR Technology Market
The CRISPR technology market is set to attain a valuation of USD 3.94 Billion by 2027, registering a CAGR of 24.2%. The applications of CRISPR technology is widespread in various industries, including pharmaceutical and biotechnology companies, CROs, academics, and government research institutes.
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Prominent Players Profiled in the Nerve Repair and Regeneration Market:
Origene Technologies, Inc., Agilent Technologies, Cellecta, Inc., GeneCopoeia, Inc., Integrated DNA Technologies (IDT), Horizon Discovery Group, Merck KGaA, New England Biolabs, Thermo Fisher Scientific and GenScript among others.
Market Drivers
The major driving force for the development of the CRISPR technology market is the advancements in the technology of the genome editing platform across various chains. The introduction of anti-CRISPR proteins is expected to create market avenues because proteins can amplify the accuracy of this technology. For instance, in 2020, an advanced Dual CRISPR-Cas12a method was developed by the University of Connecticut Health Centre, which takes just 20 minutes to detect SARS CoV-2.
The two versions of the Cas9 protein, namely eSpCas9 and SpCas9-HF, makes the implementation of CRISPR technology less time consuming, thereby providing an opportunity for the market to grow.
The primary applications of CRISPR are in the biomedical segment as the technology is used in diagnostics, drug discovery, and gene therapy. This has created the market demand for the product globally.
Product Type Outlook (Revenue, USD Billion; 2017-2027)
Enzymes
Kits and Reagents
Guide RNA
Others
Applications Outlook (Revenue, USD Billion; 2017-2027)
Biomedical
Agricultural
Industrial
Others
End User Type Outlook (Revenue, USD Billion; 2017-2027)
Pharmaceutical and Biotechnology Companies
Academics and Government Research Institutes
Contract Research Organizations (CROs)
Others
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Key Summary of the CRISPR Technology Market Report:
Insightful information regarding the global CRISPR Technology market
Identification of growth in various segments and sub-segments of the CRISPR Technology market
Strategic recommendations for investment opportunities
The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
Emerging trends and current market segment analysis to help investors formulate new business strategies
Accelerates the decision making process through the detailed description of the drivers, restraints, growth prospects, and limitations
Thorough SWOT analysis and Porter's Five Forces analysis along with feasibility analysis and investment return analysis
Regional Analysis
In 2019, the North America CRISPR technology market accounted for the largest market in terms of sales. This is due to the increasing government and private funding and the presence of major drug organizations in the region. Therefore, the adoption of CRISPR in industries is increasing.
The Asia Pacific region is expected to accelerate with the fastest growth rate attributed to the increasing research and development activities in emerging countries like China, India, and Japan. Major pharmaceutical manufacturers in the region are adopting CRISPR to make new developments to get a competitive edge.
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