Absolute Markets Insights (AMI) reports a robust forecast for the CRISPR gene editing market during the 2021-2029 period. In its newly released report, AMI anticipates that the CRISPR gene editing market was valued at US$ 2231.72 Mn in 2020, growing at a CAGR of 19.78% over the forecast period (2021 – 2029). With the rise in cases of Covid-19 and different strains of it, the adoption of CRISPR-based diagnostics is expected to boost the CRISPR gene editing market. Moreover, the Covid-19 is pandemic is anticipated to break the barriers of commercialization faced by diagnostics based on CRISPR gene editing. It is also predicted that the diagnosis of the deadly disease and its eradication might be possible because of CRISPR Gene Editing.
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Gene Silencing and Gene Engineering Accounted for the Major Market Share in 2020
Gene silencing is a technique that reduces or deletes the production of a particular protein from its gene. Usually genes are a particular part of a DNA that contain instructions for making proteins for the body. Gene silencing is performed for removing the defective gene. This is a widely used technique in multiple diseases to cure them. Rising cases of cancers because of change in lifestyle has boosted the market for gene silencing and gene engineering. Additionally, increasing prevalence of respiratory diseases because of increasing pollution has boosted the market for gene engineering and gene silencing. According to the WHO, each year, over 400,000 children and adolescents are diagnosed with cancer. This serious ailment requires the attention of physicians around the globe. Gene silencing and engineering is a technique which is helpful in treating the disease by permanently removing the defective gene from the body, thus driving the growth of CRISPR gene editing market.
Growth in the Demand for CRISPR Gene Editing by the Pharmaceutical and Biopharmaceutical Companies
Among end-users, pharmaceutical and biopharmaceutical companies accounted for the highest market share in 2020 and is expected to be the fastest-growing segment during the forecast period. The growth of this segment is because of the CRISPR-Cas9 system, which is cheaper, faster, more efficient, and more accurate than other existing methods of genome editing. Thus, this technology is being increasingly used by biotechnology companies for high-throughput screening and precise gene manipulation. Increasing population and rise in the number of various chronic diseases like cancer for instance is another factor boosting the demand for CRISPR gene editing market. Rising demand for better products in the food industry with improved nutrient enrichment and quality as well as in the pharmaceutical industry for enhanced treatment of different chronic diseases such as cancers, respiratory diseases, genetic disorders, cardiovascular diseases, etc. are few other factors leading the market growth. Furthermore, increased investments by healthcare companies such as Thermo Fisher Scientific, Inc. to meet the rising demands for better medicines and growing prominence for the procedures of gene therapy with less turnaround time is amongst the major reasons for growth of the global CRISPR gene editing market.
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Asia Pacific Region to Grow at the Fastest rate over the Forecast Period (2021-2029)
AMI reports that the Asia Pacific region will grow at the fastest rate over the forecast period because of increased funding from the government as well as private industries for the improvement in the healthcare sector. CRISPR gene editing technology has been adopted by agricultural, biomedical, and industrial sectors, which is also expected to boost the market in the Asia Pacific region. The Asia Pacific region has a vast demand for agriculture and food which builds a great opportunity for CRISPR gene editing in the agriculture and food industry. The increasing demand for gene therapies for the prevention and diagnosis of diseases and for the development of drugs is driving the regional demand for CRISPR gene editing technology.
Some of the players operating in the CRISPR gene editing market are Beam Therapeutics, Caribou Biosciences, Inc., Creative Biolabs, CRISPR Therapeutics, Editas Medicine, Eurofins Genomics, GenScript, Horizon Discovery Ltd., Integrated DNA Technologies, Inc., Intellia Therapeutics, Inc., Lonza Group Ltd., Merck KGaA, New England Biolabs, OriGene Technologies, Inc., OXYGENE, Sangamo Therapeutics, Synthego, Thermo Fisher Scientific, ToolGen, Inc., Vigene Biosciences.
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Global CRISPR Gene Editing Market
By Offering
- Product
- Software
- Services
By Application
- Gene silencing and Engineering
- Animal
- Plant
- Homology-directed repair (HDR)
- Transient gene silencing or transcriptional repression (CRISPRi)
- Pooled genome-scale knockout screening
- Drug Discovery
- Others
By End-User
- Biotechnology and Pharmaceutical Companies
- Academic and Research Institutions
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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