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Global CRISPR Technology Market Projected to Record 16% CAGR Due to Diagnostic Tool Demand by 2030

 


The global CRISPR technology market is expected to witness a growth rate of 16% in the next five years. Continuous advancements in CRISPR technology; rising demand for precise and efficient gene-editing tools and therapies; growing prevalence of genetic disorders; significant investments from governments, private companies, and venture capitalists; collaborations between academic institutions, biotechnology companies, and pharmaceutical firms; and integration with other technologies like artificial intelligence (AI) and nanotechnology are some of the key factors driving the CRISPR technology market growth.

Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) is a revolutionary gene-editing technology derived from bacterial defense mechanisms. It uses the Cas9 (or other Cas proteins) enzyme to precisely cut DNA at targeted locations, allowing for gene modification, deletion, or replacement. CRISPR has transformed genetic research, enabling advancements in medicine, agriculture, and biotechnology. It holds promise for treating genetic disorders, developing disease-resistant crops, and advancing synthetic biology. However, challenges like ethical concerns, off-target effects, and regulatory hurdles remain. Despite these, CRISPR continues to drive innovation in gene therapy, drug discovery, and personalized medicine, shaping the future of biotechnology.

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Growing Investments from Governments, Private Companies, and Venture Capitalists to Drive Market Growth In recent years, fundings and investments in CRISPR technology have been significant, showcasing the growing interest and support for this innovative field. In February 2024, CRISPR Therapeutics secured approximately USD 280 million through an agreement to sell its common shares to a select group of institutional investors. This investment aims to accelerate their gene-editing programs and expand their therapeutic pipeline. Another notable example is the Indian biotechnology start-up CrisprBits, which raised USD 250,000 in pre-seed funding from US-based VJ Group in February 2023. This funding is intended for developing CRISPR-based diagnostics to detect pathogens and antimicrobial resistance genes. Likewise, in July 2023, Pfizer Inc. made a USD 25 million equity investment in Caribou Biosciences, Inc. a leading clinical-stage CRISPR genome-editing biopharmaceutical company. These examples highlight the substantial financial support and confidence in the potential of CRISPR technology.

Precision and Efficiency Associated with CRISPR Technology to Fuel Market Growth Advancements in imaging technology are a major driver of the CRISPR technology market. Innovations such as CRISPR has become the most widely used gene-editing tool in medicine, agriculture, and microbiology due to its precision and efficiency. The growing demand for accurate gene-editing solutions drives market expansion. CRISPR enables targeted DNA modifications with minimal off-target effects, making it ideal for gene therapies. It outperforms other tools in success rates, enhancing its appeal to researchers and developers. Its applications span gene knockouts, insertions, corrections, and regulation in drug discovery, agriculture, and diagnostics. Continuous R&D has improved CRISPR’s specificity and expanded its applications, further fueling its adoption and market growth in gene-editing technologies.

Competitive Landscape Analysis

The global CRISPR technology market is marked by the presence of established and emerging market players such as Thermo Fisher Scientific, Inc., Merck KGaA, Agilent Technologies, Inc., CRISPR Therapeutics AG, Genscript Biotech Corporation, Lonza Group, Ltd., PerkinElmer, Inc., Caribou Biosciences, Inc., Hera Biolabs, and Editas Medicine; among others. Some of the key strategies adopted by market players include new product development, strategic partnerships and collaborations, and geographic expansion.

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Market Segmentation

This report by Medi-Tech Insights provides the size of the global CRISPR technology market at the regional- and country-level from 2023 to 2030. The report further segments the market based on offering, application, end user.

  • Market Size & Forecast (2023-2030), By Offering, USD Million
    • Products
      • CRISPR Kits & Enzymes
      • CRISPR Libraries
      • Other Products
    • Services
      • Cell Line Engineering
      • gRNA Synthesis
      • Screening and Validation
      • Other Services
  • Market Size & Forecast (2023-2030), By Application, USD Million
    • Biomedical Applications
    • Agricultural Applications
    • Other Applications
  • Market Size & Forecast (2023-2030), By End User, USD Million
    • Pharmaceutical & Biotechnology Companies
    • Academic & Research Institutes
    • Other End Users
  • Market Size & Forecast (2023-2030), By Region, USD Million
    • North America
      • US
      • Canada
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Spain
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Rest of Asia Pacific
    • Latin America
    • Middle East & Africa

About Medi-Tech Insights

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services in the areas of market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis & go-to-market strategy. Our methodology includes rigorous secondary research combined with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply side decision-makers.

Contact:

Ruta Halde
Associate, Medi-Tech Insights
 +32 498 86 80 79
 info@meditechinsights.com 

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