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.The global CRISPR Technology market is segmented by product & services, application, end user, and region.
New York, NY -- (SBWIRE) -- 06/14/2019 -- Market Industry Reports (MIR) has published a new report titled "CRISPR Technology Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030." According to the report, 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.
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.
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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.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the 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 in detail along with the table of contents: https://www.marketindustryreports.com/6/crispr-technology-market
Key Points From Table of Contents
1. Market Share Analysis (2018)
2. Key Strategies Assessment
1. New Product Launches
2. Merger & Acquisitions
3. Agreements, Collaborations, & Partnerships
5. Other Strategies
COMPANY PROFILES (Business Overview, Products/Services Offered, Financial Performance, R&D Intensity, Marketing & Sales Intensity, Recent Developments, Analyst Corner)*
1. Merck KGaA
2. Thermo Fisher Scientific
3. Agilent Technologies
4. Integrated DNA Technologies (IDT)
6. GeneCopoeia, Inc.
7. New England Biolabs
8. Origene Technologies, Inc.
9. Transposagen Biopharmaceuticals, Inc
10. Applied StemCell. Inc. (*Financial details might not be captured in case of privately-held companies or for companies that do not report this information in public domain)
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.
Key players are looking for licensing with the other companies
The key players operating in the global CRISPR technology market include 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.
Major strategies used by the players in the market include gaining investments from various pharmaceutical entities and licensing with other companies. For instance, 2017, Horizon Discovery Group plc, announced the amendment of its existing license with the company, ERS Genomics. This amendment allows the company to use CRISPR modified cell lines for Good Manufacturing Practices (GMP) manufacturing of bio therapeutics.
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