New York, NY -- (SBWIRE) -- 01/30/2020 -- The updated 'Global CRISPR Technology Market Report 2030' is now available with Market Industry Reports (MIR). Researchers have provided detailed analysis on ongoing trends and developments in the product, product preference by large end-users, and strategies adopted by the key players for the competitors to identify opportunities and expand considerably. According to the report, the global CRISPR technology market was valued at over US$ 550.0 Mn in 2018 and is anticipated to grow at a CAGR of 24.0% from 2019 to 2030.

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.

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.

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Global CRISPR Technology Market predicts the future consumer demand and helps the operating players in the industry for the planning of profitable strategies for the forecast period 2019 - 2030. The literature focuses on major impacting factors that are expected to fuel the xyz market in the forthcoming years. The report also analyses changing consumer requirements including the market scenario in different regions. This information is useful for the industry players to plan production volume efficiently, while reducing wastage and producing products in compliance with environmental policies.

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.

Report Objectives

-To define, describe, and forecast the CRISPR technology market based on product and service, application, end user, and region
-To provide detailed information about factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
-To analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall market
-To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
-To strategically analyze the market structure, profile the key players of the market.To forecast the size of market segments in North America, Europe, Asia Pacific, and the Rest of the World.
-To track and analyze competitive developments such as partnerships, agreements, collaborations, expansions, acquisitions, and product launches in the market
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CRISPR Technology Market by Product & Services

On the basis of product, the CRISPR technology market is segmented into CRISPR Kits, Enzymes and Services. The CRISPR services are further sub-segmented into design & vector construction, cell line engineering, screening services and other services.
CRISPR Technology Market by Application
Based on application, the market is segmented into biological & biomedical applications, agricultural applications, industrial applications and other applications.
CRISPR Technology Market by End User
On the basis of end user, the CRISPR technology market is segmented into academic institutes & research centers, contract research organizations (CROs), pharmaceutical and biotechnology companies and other end users.

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