CRISPR Technology Market - Forecast(2023 - 2028)
CRISPR Technology Market size is forecast to reach $2.46 billion by 2025, growing at a CAGR of 24.25 % during the forecast period 2019-2025. Increasing availability of private and government funding and rising incidences of related to genetic disorders are the major factors driving the growth of the market. Need for advanced therapies for cancer and technological advancements in the gene editing techniques along with favorable regulatory technique will further enhance the overall market demand of CRISPR technology during the forecast period.
Key Takeaways
North America dominates the CRISPR Technology Market owing to adoption of CRISPR technology by the biopharmaceutical companies and growing research by the academic & research organizations.
The growing funding from government and private sectors and the increasing use of CRISPR technology in various industries & the development in the drug discovery is likely to aid in the market growth of CRISPR technology.
Detailed analysis on the Strength, Weakness and opportunities of the prominent players operating in the market will be provided in the CRISPR technology market report.
High cost associated with the CRISPR and ethical issues in some countries can create a hurdle for the growth of the market.
Product & Services - Segment Analysis
The services segment held the largest share in the CRISPR technology market in 2018 and is estimated to grow with a CAGR of 16.8% during the forecast period 2019-2025.This is mainly owing to the increasing application of services mostly in biomedical and biological industries. CRISPR kits and enzymes are also used in agricultural and industrial sectors. Cas9 homologs include Streptococcus pyogense and Staphylococcus aureus. Cas9 tools will play a multifarious role in agriculture by enabling the industry in editing crops to make them more nutritious, enhanced taste, disease resistant, and less susceptible to drought. In services segment, cell line engineering segment is estimated to be the fastest growing segment.
Application - Segment Analysis
The biomedical segment accounted for the major share in the CRISPR technology market in 2018 and is estimated to grow at a CAGR of 14.60% during the forecast period 2019-2025. The growth in this segment can be attributed to the increasing usage of CRISPR technology in gene therapy, drug discovery and diagnostics. The most widely used of CRISPR technology is I the treatment of Cancer. Depending on CRISPR's precise functionality, this tool can also be used to create specific mutations in different cell lines to model the cancers. Such form of modeling will lead to a better understanding of a variety of diseases like cancer and the ability to develop effective drugs further. CRISPR-CAS-9 is a cluster of palindromic repeats and is found naturally in bacteria. The ability of CRISPR-CAS-9 has allowed scientists to make DNA and RNA libraries as per their need and applications. CRISPR-CAS-9 technology has potential applications in the field of treating human diseases, creating gene libraries and manipulating cell functions like metabolism.The technology of generating extrachromosomal DNA by CRISPR is referred as CRISPR-C. Bacterial genomes editing with Cas9 enzymes has been explored as a transformative genome engineering tool.
Geography - Segment Analysisg with
North America dominated the CRISPR technology market share accounting for more than 54.13%, followed by Europe. The presence of major pharm and gene therapy companies and the rising government and private funding is helping in this region growth. The adoption of CRISPR in several applications and the increasing R&D by the research institutes and organizations are also supporting the growth of this market in this region. Crops that are treated with CRISPR-based gene editing are not considered as GMOs in US, therefore this has attracted a number of agricultural companies to focus on the commercialization of CRISPR-edited crops.
However, Asia-Pacific is estimated to grow at a higher CAGR during the forecast period. This is owing to the registered clinical trials based on CRISPR-edited cells on various diseases such as HIV infection and cancers and ongoing researchers to support CRISPR technology by countries such as China and Japan. The Chinese government has a strong commitment to CRISPR work and has funded 42 CRISPR projects worth 23 million yuan ($3.5 million).
Drivers – CRISPR Technology Market
Demand for drug discovery and the rising size of the geriatric population
The demand for drug discovery technologies plays an important role in the pharmaceutical field as they are crucial to the commercial introduction of new drugs. Using Cas9 methods, new treatments are being tested for single-gene diseases such as cystic fibrosis, haemophilia, and sickle cell disease. This technique is expected to be useful for the prevention and treatment of complex conditions such as cancer, heart disease, mental illness, and infection with the human immunodeficiency virus (HIV). The major influence on healthcare spending trends in both developed and developing countries is the aging population in developed countries such as Western Europe, the US, etc. where the proportion of elderly people who predominantly use healthcare services is high due to the availability of multiple long-term social care services and insurance policies.
Increasing availability of government and private funding and growing adoption of CRISPR technology
The technology's potential has been explored in new areas of animal and disease model growth, drug compound and target testing, and agricultural and nutritional health products, as research and development investment in technology is increasing by quantum leaps. In 2017, as per the Defense Advanced Research Projects Agency (DARPA), the DARPA has announced to invest $65 million over the course of next four years till 2021 in order to make CRISPR Gene Editing Safer and to counter bioterrorism threats.CRISPR-Cas9 technology should play a multi-faceted role in agriculture, allowing the industry editing crops to make them more nutritious, taste-enhanced, disease-resistant, and less drought-prone.
Challenges – CRISPR Technology Market
High cost associated with the CRISPR
High cost associated with the CRISPR technology and Lack of awareness and the possible misuse of the CRISPR gene editing technology are the key factors that hamper the growth of the CRISPR industry. This technology suffers from a serious problem in developing countries such as Asia and Africa, where the alleged users are unaware of its enormous application in several major research projects in developed countries .CRISPR is related to a number of applications, such as genome editing, genetic engineering, etc., which are considered controversial because of ethical concerns in the human model systems. Lack of skilled professionals are also likely to restrain the growth of the market.
CRISPR Technology Industry Outlook
Product launches, merger&acquisitions and R&D activities are key strategies adopted by players in the CRISPR technology market. In 2018, the CRISPR technology market share was consolidated by the top ten players present in the market. CRISPR technology top 10 companies are Thermo Fisher Scientific, Merck KGaA, GenScript, Integrated DNA Technologies, Horizon Discovery Group, Agilent Technologies, Cellecta Inc. Gene Copoeia, Inc., New England Biolabs, Origene Technologies Inc. among others. Universities and research institutes dominate the patent landscape of CRISPR-Cas9 over commercial companies. Companies make up approximately 40% of the top 15 patent owners in the CRISPR-Cas9 patent space, while five universities and four research institutes are among the top 15 owners. American and Chinese academic institutions are actively engaged in CRISPR domain.
Acquisitions/Product Launches
In 2017, Synthego and Thermo Fisher Scientific collaborated to manufacture and distribute synthetic guide RNA products for CRISPR genome engineering.
In September 2017, Horizon Discovery acquired Dharmacon, Inc. from GE Healthcare for $85 million.
In March 2018, Danaher acquired Integrated DNA Technologies to expand its Genomics portfolio.
In May 2018, Feng Zhang's company Beam Therapeutics, new startup to develop CRISPR, officially came out with USD 87 million in series A funding and a mission to develop "precision genetic medicines" that use CRISPR technology to edit just one nucleotide base, or "letter," in the genome at a time.
Key Takeaways
North America dominates the CRISPR Technology Market owing to adoption of CRISPR technology by the biopharmaceutical companies and growing research by the academic & research organizations.
The growing funding from government and private sectors and the increasing use of CRISPR technology in various industries & the development in the drug discovery is likely to aid in the market growth of CRISPR technology.
Detailed analysis on the Strength, Weakness and opportunities of the prominent players operating in the market will be provided in the CRISPR technology market report.
High cost associated with the CRISPR and ethical issues in some countries can create a hurdle for the growth of the market.
Product & Services - Segment Analysis
The services segment held the largest share in the CRISPR technology market in 2018 and is estimated to grow with a CAGR of 16.8% during the forecast period 2019-2025.This is mainly owing to the increasing application of services mostly in biomedical and biological industries. CRISPR kits and enzymes are also used in agricultural and industrial sectors. Cas9 homologs include Streptococcus pyogense and Staphylococcus aureus. Cas9 tools will play a multifarious role in agriculture by enabling the industry in editing crops to make them more nutritious, enhanced taste, disease resistant, and less susceptible to drought. In services segment, cell line engineering segment is estimated to be the fastest growing segment.
Application - Segment Analysis
The biomedical segment accounted for the major share in the CRISPR technology market in 2018 and is estimated to grow at a CAGR of 14.60% during the forecast period 2019-2025. The growth in this segment can be attributed to the increasing usage of CRISPR technology in gene therapy, drug discovery and diagnostics. The most widely used of CRISPR technology is I the treatment of Cancer. Depending on CRISPR's precise functionality, this tool can also be used to create specific mutations in different cell lines to model the cancers. Such form of modeling will lead to a better understanding of a variety of diseases like cancer and the ability to develop effective drugs further. CRISPR-CAS-9 is a cluster of palindromic repeats and is found naturally in bacteria. The ability of CRISPR-CAS-9 has allowed scientists to make DNA and RNA libraries as per their need and applications. CRISPR-CAS-9 technology has potential applications in the field of treating human diseases, creating gene libraries and manipulating cell functions like metabolism.The technology of generating extrachromosomal DNA by CRISPR is referred as CRISPR-C. Bacterial genomes editing with Cas9 enzymes has been explored as a transformative genome engineering tool.
Geography - Segment Analysisg with
North America dominated the CRISPR technology market share accounting for more than 54.13%, followed by Europe. The presence of major pharm and gene therapy companies and the rising government and private funding is helping in this region growth. The adoption of CRISPR in several applications and the increasing R&D by the research institutes and organizations are also supporting the growth of this market in this region. Crops that are treated with CRISPR-based gene editing are not considered as GMOs in US, therefore this has attracted a number of agricultural companies to focus on the commercialization of CRISPR-edited crops.
However, Asia-Pacific is estimated to grow at a higher CAGR during the forecast period. This is owing to the registered clinical trials based on CRISPR-edited cells on various diseases such as HIV infection and cancers and ongoing researchers to support CRISPR technology by countries such as China and Japan. The Chinese government has a strong commitment to CRISPR work and has funded 42 CRISPR projects worth 23 million yuan ($3.5 million).
Drivers – CRISPR Technology Market
Demand for drug discovery and the rising size of the geriatric population
The demand for drug discovery technologies plays an important role in the pharmaceutical field as they are crucial to the commercial introduction of new drugs. Using Cas9 methods, new treatments are being tested for single-gene diseases such as cystic fibrosis, haemophilia, and sickle cell disease. This technique is expected to be useful for the prevention and treatment of complex conditions such as cancer, heart disease, mental illness, and infection with the human immunodeficiency virus (HIV). The major influence on healthcare spending trends in both developed and developing countries is the aging population in developed countries such as Western Europe, the US, etc. where the proportion of elderly people who predominantly use healthcare services is high due to the availability of multiple long-term social care services and insurance policies.
Increasing availability of government and private funding and growing adoption of CRISPR technology
The technology's potential has been explored in new areas of animal and disease model growth, drug compound and target testing, and agricultural and nutritional health products, as research and development investment in technology is increasing by quantum leaps. In 2017, as per the Defense Advanced Research Projects Agency (DARPA), the DARPA has announced to invest $65 million over the course of next four years till 2021 in order to make CRISPR Gene Editing Safer and to counter bioterrorism threats.CRISPR-Cas9 technology should play a multi-faceted role in agriculture, allowing the industry editing crops to make them more nutritious, taste-enhanced, disease-resistant, and less drought-prone.
Challenges – CRISPR Technology Market
High cost associated with the CRISPR
High cost associated with the CRISPR technology and Lack of awareness and the possible misuse of the CRISPR gene editing technology are the key factors that hamper the growth of the CRISPR industry. This technology suffers from a serious problem in developing countries such as Asia and Africa, where the alleged users are unaware of its enormous application in several major research projects in developed countries .CRISPR is related to a number of applications, such as genome editing, genetic engineering, etc., which are considered controversial because of ethical concerns in the human model systems. Lack of skilled professionals are also likely to restrain the growth of the market.
CRISPR Technology Industry Outlook
Product launches, merger&acquisitions and R&D activities are key strategies adopted by players in the CRISPR technology market. In 2018, the CRISPR technology market share was consolidated by the top ten players present in the market. CRISPR technology top 10 companies are Thermo Fisher Scientific, Merck KGaA, GenScript, Integrated DNA Technologies, Horizon Discovery Group, Agilent Technologies, Cellecta Inc. Gene Copoeia, Inc., New England Biolabs, Origene Technologies Inc. among others. Universities and research institutes dominate the patent landscape of CRISPR-Cas9 over commercial companies. Companies make up approximately 40% of the top 15 patent owners in the CRISPR-Cas9 patent space, while five universities and four research institutes are among the top 15 owners. American and Chinese academic institutions are actively engaged in CRISPR domain.
Acquisitions/Product Launches
In 2017, Synthego and Thermo Fisher Scientific collaborated to manufacture and distribute synthetic guide RNA products for CRISPR genome engineering.
In September 2017, Horizon Discovery acquired Dharmacon, Inc. from GE Healthcare for $85 million.
In March 2018, Danaher acquired Integrated DNA Technologies to expand its Genomics portfolio.
In May 2018, Feng Zhang's company Beam Therapeutics, new startup to develop CRISPR, officially came out with USD 87 million in series A funding and a mission to develop "precision genetic medicines" that use CRISPR technology to edit just one nucleotide base, or "letter," in the genome at a time.
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