Clustered regularly-interspaced short palindromic repeats also known as CRISPR is a gene editing tool. CRIPSR commercialization began in 2012 with emergence of number of startups and venture capitalists and showing their interest in infusing money into this technology. Academic and research firms are the main consumers of CRISPR gene editing tool followed by biotechnology companies. The number of patents for CRISPR is outclassing the patents of other gene editing tools such as ZFN and TALEN. The CRISPR market is driven by high demand for plasmids, synthetic genes and high-quality gene slicing techniques. Growing drug discovery, biotechnology and proteomics markets are also driving the market growth.
Considering the global CRISPR market growth, many new pharmaceutical and biotechnology companies are making strategic moves to enter this market. A significant increase in the R&D expenditure and growth of biotechnology and pharma industries are some of the key growth drivers and CRISPR is expected to be a beneficial tool for the entire genome editing market. There are lot of segments in which genome editing market is segmented. The out all the segments, CRISPR segment is expected to be the fastest growing segment of all.
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There are other segments also which are on the upfront for a solid growth. Besides CRISPR, cell line engineering is expected to contribute meaningfully to the global CRISPR market growth. This is a good sign as this expected growth will encourage leading pharma and biotechnology companies to expand their operations in other parts of the globe after America. In line with this fact, Asian market appears in the upfront for welcoming this growth. Considering the bright opportunities in these regions, many leading companies are strategically moving to these destinations.
Moving on, there is a considerable increase in the healthcare spending in the recent times. The leading companies have increased their budget for R&D which is a good sign and will be a key growth driver for the global CRISPR market.
Scientists are looking forward for CRISPR due to its special features. CRISPR has a unique feature of detecting specific sequence of letters in the genetics. The DNA can be cut at this point then. This is very important feature about CRISPR as with this, scientists can make alterations in the genetic code and make desired DNA. This will find great use in the development of GMO crops. In addition, CRISPR can also be used to detect the alterations in the human genome causing behavioral changes. This is a great achievement in the genome editing segment and it will contribute well to the field of genetics and medicine in the coming days.
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Companies profiled include: Thermo Fisher Scientific, Editas Medicine, Caribou Biosciences, CRISPR therapeutics, Intellia, Cellectis, Horizon discovery PLC, Sigma Aldrich, Precision biosciences, GenScript, Sangamo Biosciences Inc., Lonza group limited, Integrated DNA technologies, New England Biolabs, Oregene Technologies, Transposgen Biopharmaceuticals
This Research report covers: Historical data, Revenue forecasts, growth rates and CAGR up to 2021, Industry Analysis, Competitive Analysis, Key geographic growth data
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