Dublin, April 19, 2022 (GLOBE NEWSWIRE) -- The "CRISPR Technology Global Market Report 2022, By Product Type, By Application, By End-User" report has been added to ResearchAndMarkets.com's offering.
The global CRISPR technology market is expected to grow from $1064.91 million in 2021 to $1327.27 million in 2022 at a compound annual growth rate (CAGR) of 24.6%. The market is expected to reach $3112.26 million in 2026 at a CAGR of 23.7%.
The main types of products in CRISPR technology are design tools, plasmid and vector, CAS9 and G-RNA and delivery system products. CRISPR-Cas9 is a groundbreaking technology that allows geneticists and medical researchers to edit portions of the genome by removing, inserting, or changing DNA sequences. The different applications include genome editing or genetic engineering, genetically modified organisms, agricultural biotechnology, others and are used by several sectors such as industrial biotech, biological research, agricultural research, therapeutics and drug discovery.
The application of CRISPR technology as a diagnostic tool is expected to boost the market during the period. The Sherlock CRISPR SARS-CoV-2 kit is the first diagnostic kit based on CRISPR technology for infectious diseases caused due to COVID-19. In May 2020, FDA announced the emergency use authorization to the Sherlock BioSciences Inc's Sherlock CRISPR SARS-CoV-2 kit which is a CRISPR-based SHERLOCK (Specific High-sensitivity Enzymatic Reporter unLOCKing) diagnostic test. This test helps in specifically targeting RNA or DNA sequences of the SARS-CoV-2 virus from specimens or samples such as nasal swabs from the upper respiratory tract and fluid in the lungs from bronchoalveolar lavage specimens. This diagnostic kit has high specificity and sensitivity and does not provide false negative or positive results. Widening the application of CRISPR technology for the diagnosis of infectious diseases will increase the demand for CRISPR technology products and services.
Stringent government regulations are expected to retard the growth of the CRISPR technology market during the period. There is no existence of internationally agreed regulatory framework for gene editing products and countries are in the process of evaluating whether and to what extent current regulations are adequate for research conducted with gene editing and applications and products related to gene editing. The Court of Justice of the European Union ruled that it would treat gene-edited crops as genetically modified organisms, subject to stringent regulation.
Several advancements in CRISPR technology are trending in the market during the period. Advancements in technology will help in reducing errors, limiting unintended effects, improving the accuracy of the tool, widening its applications, developing gene therapies and more. In 2019, a study published in Springer Nature stated the development of an advanced super-precise new CRISPR tool that allows researchers more control over DNA changes. This tool seems to have the capability of providing a wider variety of gene edits which might potentially open up conditions that have challenged gene-editors. Also, in 2020, another study in Springer Nature stated that researchers have used enzyme engineering to boost the accuracy of the technique of error-prone CRISPR-Cas9 system to precisely target DNA without introducing as many unwanted mutations. The advancements in CRISPR technology will result in better tools that are capable of providing better outcomes.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market.
Report Scope
Markets Covered:
1) By Product Type: Design Tools; Plasmid And Vector; Cas9 And G-RNA; Delivery System Products
2) By Application: Genome Editing/Genetic Engineering; Genetically Modified Organisms; Agricultural Biotechnology; Others
3) By End-User: Industrial Biotech; Biological Research; Agricultural Research; Therapeutics And Drug Discovery
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Companies Mentioned
- Thermo Fisher Scientific
- GenScript Biotech Corporation
- CRISPR Therapeutics AG
- Editas Medicine
- Horizon Discovery Plc.
- Integrated DNA Technologies Inc. (Danaher)
- Origene Technologies Inc.
- Transposagenbio Biophramaceuticals (Hera Biolabs)
- Intellia Therapeutics Inc.
- GeneCopoeia Inc.
- Merck KGaA
- Lonza Group Ltd.
- New England Biolabs Inc.
- Sangamo Therapeutics
- Applied StemCell
- Novartis International AG
- Egenesis Inc.
- GE Healthcare Dharmacon Inc.
- Agilent Technologies
- Caribou Biosciences
- Addgene
- Synthego Corporation
- Precision Biosciences
- Cellecta Inc.
For more information about this report visit https://www.researchandmarkets.com/r/mxj24b
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