Dublin, Aug. 15, 2024 (GLOBE NEWSWIRE) -- The "Global CRISPR Gene Editing Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The CRISPR gene editing market has witnessed a momentous growth trajectory, expanding from a valuation of $1.78 billion in 2023 to an expected $2.26 billion in 2024. This robust compound annual growth rate (CAGR) of 26.9% signals the increasing foothold of genome editing technologies in a variety of sectors, ranging from healthcare and pharmaceuticals to agriculture. The historic growth phase has been bolstered by heightened demand for genomic medicine, advancements in healthcare infrastructure, and heightened government support for genomics research.
Looking ahead to 2028, the CRISPR gene editing market size is forecasted to reach a staggering $5.92 billion, representing a compound annual growth rate (CAGR) of 27.2%. The escalation is credited to factors such as the shift towards precision medicine, the rise in investment for CRISPR technology research, and the growing need for tackling genetic disorders. The period is set to usher in significant technological advances, with implications for genetic therapy research, agricultural innovations, and the development of more sophisticated delivery methods for genomic interventions.
**Drivers of CRISPR Market Growth**
A key factor propelling market expansion is the escalating prevalence of genetic disorders globally, accentuated by factors such as aging populations and genetic mutations. CRISPR gene editing's capability to precisely modify DNA sequences positions it as a pivotal strategy in managing and potentially curing such diseases.
**Innovations in CRISR Technology**
Within a competitive landscape, market leaders are pioneering the development of cutting-edge CRISPR-based tools, expanding the toolkit available for researchers and clinicians engaged in genomic editing. Novel solutions are surfacing that streamline CRISPR experimentation, potentially accelerating breakthroughs in this realm.
**Strategic Collaborations**
Recent strategic partnerships exemplify the collaborative efforts underway to harness CRISPR technology's potential in addressing rare genetic diseases. With a focus on diseases affecting the liver, muscles, and central nervous system, these alliances underscore the integral role of CRISPR in medical research and treatment development.
**Global Market Analysis**
North America has emerged as the dominant region in the CRISPR gene editing market as of 2023, with Asia-Pacific regions projected to see the most rapid growth in the forthcoming period. The report covers an extensive geographic analysis, encompassing key global markets and assessing the nuances and dynamics peculiar to each region.
**Technological Advancements and Applications**
The CRISPR gene editing technology stands as a versatile and powerful tool for genomic alterations, leveraging mechanisms based on bacterial defense systems. Its widespread applications span from agriculture, where it could lead to superior crop traits, to the realm of medicine, offering new avenues for the treatment of genetic conditions. The spectrum of CRISPR elements, from Cas nucleases to sophisticated delivery systems, underlines the diversity of the technology's applications.
The CRISPR gene editing market is witnessing an era of prodigious growth and innovation, fueled by the relentless pursuit of advancements in the biotechnological landscape. With its profound implications for healthcare, agriculture, and beyond, CRISPR gene editing is poised to be at the forefront of a new wave in scientific and medical solutions.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $2.26 Billion |
| Forecasted Market Value (USD) by 2028 | $5.92 Billion |
| Compound Annual Growth Rate | 27.2% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes, but is not limited to:
- Thermo Fisher Scientific Inc.
- Merck KGaA
- Agilent Technologies Inc.
- GenScript
- Integrated DNA Technologies Inc.
- Takara Bio Inc.
- OriGene Technologies Inc.
- Intellia Therapeutics Inc.
- New England Biolabs
- Synthego
- Arbor Biotechnologies Inc.
- Rockland Immunochemicals Inc.
- Cellectis
- Editas Medicine
- Caribou Biosciences Inc.
- System Biosciences LLC
- Applied StemCell
- Addgene
- Mirus Bio LLC
- Excision BioTherapeutics Inc.
- GeneCopoeia Inc.
- ToolGen Inc.
- Cellecta Inc.
- CRISPR Therapeutics
- ERS Genomics Limited
For more information about this report visit https://www.researchandmarkets.com/r/ihl8vo
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