Fort Collins, Colorado, Dec. 07, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, The CRISPR Technology Market is expected to value USD 3.2 Billion in 2022 and is projected to reach USD 12.5 Billion by 2032 with a CAGR of 14.7%.
The biotechnology field is experiencing a remarkable surge in technological advancements and investments, significantly driving the growth of the CRISPR technology market. In molecular biology labs, various genome editing tools are utilized. Still, the CRISPR-Cas systems have emerged as the most widely adopted ones by major biotech and pharma companies for developing drugs and therapies.
CRISPR-based molecular diagnostic technology is a cutting-edge approach that offers numerous benefits over traditional methods. It is a highly effective option for early cancer screening and detection of cancer susceptibility genes and pathogenic genes. This is due to their exceptional precision, efficiency, and versatility in editing genes, making them an up-and-coming tool for treating various genetic disorders and diseases.
With the rapid development of CRISPR-Cas systems and the discovery of novel Cas enzymes, the CRISPR-based molecular diagnostic technology has advanced significantly, creating a vast opportunity for the CRISPR market. This technology has the potential to revolutionize the field of medical diagnosis and treatment, providing accurate and efficient solutions for various diseases.
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Segmentation Overview:
The global CRISPR technology market has been segmented into product, application, end-user, and region. The CRISPR technology has contributed significantly to the growth of the biomedical segment, with the efficient utilization of genome editing for genomic modification and drug development. The biotechnology and pharmaceutical segment dominates the market, with CRISPR technology enabling easy and inexpensive access to vectors for genome editing across medicine and biotechnology. CRISPR-Cas 9 has successfully treated diseases like Alzheimer’s, Sickle cell anemia, Thalassemia, Cancer, and HIV, and many pharmaceutical companies are using it to develop drugs.
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CRISPR Technology Market Report Highlights:
- The global CRISPR technology market growth is anticipated at a CAGR of 14.7% by 2032.
- The CRISPR technology market is rapidly growing in the biotechnology field. CRISPR-Cas systems are widely adopted for developing drugs and therapies. CRISPR-based molecular diagnostic technology offers numerous benefits for early cancer screening and detection of genetic disorders.
- North America's biotechnology and pharmaceutical industry is growing due to government initiatives, private investments, and technological innovations. Key companies are constantly developing new products and technologies, creating more demand in the market.
- Some prominent players in the CRISPR technology market report include AstraZeneca plc., Addgene, Caribou Biosciences, Inc., Cellectis, CRISPR Therapeutics, Editas Medicine, Inc. eGenesis F. Hoffmann-La Roche Ltd. Horizon Discovery Group plc, GenScript, Danaher, Intellia Therapeutics, Inc. Lonza Merck KGaA, Takara Bio Inc., Thermo Fisher Scientific, Inc., Synthego, Mammoth Biosciences, Inscripta, Inc. Cibu, Vertex Pharmaceuticals.
Industry Trends and Insights:
- AstraZeneca launches Evinova, a digital health solutions provider for life sciences and healthcare. It offers global digital products and services with long-term backing from AstraZeneca and strategic collaborations with Parexel and Fortrea.
- IPI and Addgene partnered to accelerate biomedical research by developing and distributing protein and DNA reagents.
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CRISPR Technology Market Segmentation:
By Product: Enzyme, Libraries, Kits, Guide RNA.
By Application: Biomedical, agricultural, industrial, others.
By End-use: Biotechnology and pharmaceutical companies, academic & research institutes, contract research organizations (CRO), others.
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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