According to the report, the global CRISPR technology market was valued at over US$ 550.0 Mn in 2018 and is anticipated to grow at a CAGR of 24.0% from 2019 to 2030.
Market Industry Reports (MIR) has published a new report titled “CRISPR Technology Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global CRISPR technology market was valued at over US$ 550.0 Mn in 2018 and is anticipated to grow at a CAGR of 24.0% from 2019 to 2030.
The report charts the future of the Global CRISPR technology Market for the forecast period, 2019 to 2030. The perfect balance of information on various topics including the sudden upswing in spending power, end-use, distribution channels and others add great value to this literature. A collaboration of charts, graphics images and tables offers more clarity on the overall study. Researchers behind the report explore why customers are purchasing products and services from immediate competitors
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Increasing prevalence of genetic disorders, promoting the growth of market
The CRISPR technology is focused on development or growth of the gene therapeutics for the treatment of several genetic disorders including hemophilia, thalassemia, and sickle cell anemia, among others. The growing prevalence of hereditary disorders is promoting the growth of the market, for improved treatment and better quality of life for patients. According to Center for Disease Control and Prevention (CDC), in 2017, almost 1000 people in U.S. suffer from the most severe form of the thalassemia every year.
Key players are looking for licensing with the other companies
The key players operating in the global CRISPR technology market include Addgene, Caribou Biosciences, Inc., Merck KGaA, Horizon Discovery Group plc,CRISPR THERAPEUTICS, Mirus Bio LLC, Takara Bio USA, Editas Medicine, Thermo Fisher Scientific, Inc., GE Healthcare Dharmacon Inc. and Intellia Therapeutics, Inc. Companies are involved in collaborations to gain share in the market.For instance, Caribou Biosciences develop CRISPR technology in collaboration with the research based on University of California.
Major strategies used by the players in the market include gaining investments from various pharmaceutical entities and licensing with other companies. For instance, 2017, Horizon Discovery Group plc, announced the amendment of its existing license with the company, ERS Genomics. This amendment allows the company to use CRISPR modified cell lines for Good Manufacturing Practices (GMP) manufacturing of bio therapeutics.
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The updated research report on the CRISPR technology market delivers essential information on market share, size, and growth rate for the forecast period 2019 - 2030. Subject matter experts have divided the CRISPR technology market into several categories like product, technology, application, end user, and geography. They have provided deep insights on each of these segments to provide the operating players with information to expand their business and increase their clientele in the near future.
The report further elaborates crucial information on major driving factors that are expected to propel the CRISPR technology market by the end of 2025. Major challenges are also systematically mentioned for the players to take every profit-maximizing step carefully. The report also explains strengths, weaknesses, opportunities, and threats for the industry players to systematically plan their strategies and gain topmost position among competitors. The study aims at providing real-time information to the players, such as current market trends, developments in the industry, import and export status, consumer buying behavior, and more.