The global CRISPR technology market reached a value of nearly $685.5 million in 2019, having increased at a compound annual growth rate (CAGR) of 35.0% since 2015. The market is expected to grow from $685.5 million in 2019 to $1,654.2 million in 2020 at a rate of 24.6%. It is expected to reach $2,569.8 million in 2023, and $6,703.7 million in 2030.
Growth in the historic period resulted from rise in funding, and increase in pharmaceutical R&D expenditure. Factors that negatively affected growth in the historic period were regulatory challenges, and lack of standardized regulations in the majority of countries. Going forward, rising demand for gene therapeutics, technological advancements in the fields of genome editing, growing demand for the discovery of drugs, increasing demand for CRISPR in diagnostics, rising demand for CRISPR technologies in agriculture applications, and rising adoption of CRISPR technologies will drive the growth. Factors that could hinder the growth of the CRISPR technology market in the future include ethical concerns related to genetic research, and increasing occurrence of off-target genome editing.
Top Companies Covered in this Report:
Crispr Therapeutics; Thermo Fisher Scientific; Intellia Therapeutics; Horizon Discovery; Synthego Corporation
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The CRISPR technology market is segmented by product type into Cas9 And gRNA, design tool, plasmid and vector, and other delivery system products. The Cas9 And gRNA market was the largest segment of the CRISPR technology market segmented by product type, accounting for 76.4% of the total in 2019. Going forward, the design tool segment is expected to be the fastest growing segment in the CRISPR technology market, at a CAGR of 29.7% during 2019-2023.
The CRISPR technology market is segmented by end-user into biopharmaceutical companies, agricultural biotechnology companies, academic research organizations, and contract research organizations (CROs). The biopharmaceutical companies market was the largest segment of the CRISPR technology market segmented by end-user, accounting for 55.0% of the total in 2019. Going forward, it is also expected to be the fastest growing segment in the CRISPR technology market segmented by end-user, at a CAGR of 26.0% during 2019-2023.
The CRISPR technology market is segmented by application into biomedical, agriculture, diagnostics, and others. The biomedical market was the largest segment of the CRISPR technology market segmented by application, accounting for 53.0% of the total in 2019. Going forward, it is also expected to be the fastest growing segment in the CRISPR technology market segmented by application, at a CAGR of 25.7%.
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Fundamentals of Table of Content:
1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered
2 Global Growth Trends
2.1 CRISPR Technology Market Size
2.2 CRISPR Technology Growth Trends by Regions
2.3 Industry Trends
3 Market Share by Key Players
3.1 CRISPR Technology Market Size by Manufacturers
3.2 CRISPR Technology Key Players Head office and Area Served
3.3 Key Players CRISPR Technology Product/Solution/Service
3.4 Date of Enter into CRISPR Technology Market
3.5 Mergers & Acquisitions, Expansion Plans
4 Breakdown Data by Product
4.1 Global CRISPR Technology Sales by Product
4.2 Global CRISPR Technology Revenue by Product
4.3 CRISPR Technology Price by Product
5 Breakdown Data by End User
5.2 Global CRISPR Technology Breakdown Data by End User
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This release was published on openPR.