NEW YORK, June 22, 2022 /PRNewswire/ -- As per Zion Market Research study, The size of the global CRISPR genome editing market is likely to reach a value of USD 15.84 billion by 2028, growing at a CAGR of 29.50% during the forecast period from USD 1.08 billion in 2021.
Key Industry Insights & Finding of the CRISPR Genome Editing Market Reports:
- As per the analysis shared by our research analyst, the CRISPR Genome Editing Market is expected to grow annually at a CAGR of around 29.50 % (2022-2028).
- Through the primary research, it was established that the CRISPR Genome Editing Market was valued approximately USD 1.08 Billion in 2021 and is projected to reach to roughly USD 15.84 Billion by 2028.
- Investments made by pharmaceutical & biotech businesses, rise in per capita income, enhanced health systems, accessibility of therapies, and affordability of state-of-the-art testing facilities & organizations in the region, North America has the largest proportion of the CRISPR gene editing market.
- CRISPR allows for desired agricultural features by transferring DNA from the crop's own naturally occurring genetic variants, rather than from alternative reproductively incompatible creatures.
- Around 40 nations prohibited or outlawed CRISPR genome editing research in the last decade. This has hampered the worldwide CRISPR genome editing business by constraining further research and development.
Zion Market Research published the latest report titled as "CRISPR Genome Editing Market By End-User (Academics & Government Institutes, Biotechnology & Pharma Companies, Contract Research Organizations, & Others), By Application (Cell Line Engineering, Genetic Engineering, Diagnostic Applications, Drug Discovery & Development, & Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028." into their research database.
CRISPR Genome Editing Market : Overview
CRISPR gene editing is a molecular genetically engineered approach for altering the genomes of living organisms. It's built on a reduced form of the CRISPR-Cas9 antiviral defense mechanism found in bacteria. The approach is important in biotechnology and medicine because it enables genes to be altered in vivo with exceptional accuracy, at a low cost, and with simplicity. It can be employed in the development of novel medications, farm goods, and genetically engineered organisms, as well as for disease and pest management. It may also be used to treat heritable gene illnesses and also diseases that are caused by somatic mutations.
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Industry Dynamics:
CRISPR Genome Editing Market : Growth Drivers
- Rise in government funding for CRISPR genome editing projects to drive market growth.
Governments in numerous nations throughout the world have made large expenditures in genomics in past years, which have aided in the discovery and research of innovative CRISPR genome editing technologies. Furthermore, the availability of funding support has allowed university and government organizations to conduct extensive genome engineering research. The quantity of CRISPR genomics research efforts has increased significantly as a result of major government funding in genomics. This, in turn, is likely to fuel the global CRISPR genome editing market's expansion throughout the forecast period.
CRISPR Genome Editing Market : Restraints
- Off-target effects likely to restrict the market growth.
Off-target consequences from CRISPR-Cas9 are a big problem. Because Cas9 causes double-stranded breaks can potentially lead to cancer tumor formation. Moreover, the high incidence of off-target activity mutations in locations besides the targeted on-target location is a major source of worry. CRISPR can, for example, target a tumor suppressor gene or stimulate a cancer-causing mutation. This unfavorable consequence has caused problems for several firms conducting clinical studies. Clinical studies have been halted, and regulatory officials are demanding further study to improve the method's safety thereby restraining the market growth.
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Global CRISPR Genome Editing Market : Opportunities
- Use of CRISPR in agriculture to provide growth opportunities for market.
CRISPR allows for desired agricultural features by transferring DNA from the crop's own naturally occurring genetic variants, rather than from alternative reproductively incompatible creatures. This removes the possibility of foreign DNA contamination in the resulting plant and final items. Because the CRISPR procedure does not incorporate foreign DNA into the genetic material, many scientific experts regard plant products to be non-GMO, and at least some plants generated using this technology are non-GMO. This expands its application in agriculture, offering the potential for the worldwide CRISPR genome editing market to expand.
Global CRISPR Genome Editing Market : Challenges
- Ethical concerns regarding human gene editing using CRISPR to challenge the market growth.
Human genome editing, according to bioethicists and experts, should not be tried since it affects genes and has a mutant impact that may be passed down generations. The majority of stakeholders feel that ongoing public discourse and debate are necessary to allow the public to determine whether or not CRISPR genome editing must be permitted for human genes. Because of bioethical concerns, around 40 nations prohibited or outlawed CRISPR genome editing research in the last decade. This has hampered the worldwide CRISPR genome editing business by constraining further research and development.
Global CRISPR Genome Editing Market : Segmentation
- The global market is segregated on the basis of end-user, application, and region..
Academics & government institutes, biotechnology & pharmaceutical firms, contract research organizations, and others are the types of end-users. Biotechnology & pharmaceutical businesses accounted for the greatest proportion of the global CRISPR genome editing market by end-user in 2021. Infectious illnesses and cancer are becoming more common, which is fueling research efforts throughout the world. The need for genetic modification in biotechnology and pharmaceutical industries is likely to rise as a result of this.
The market categories depending on the application include cell line engineering, genetic engineering, diagnostic applications, drug discovery & development, and others. The bulk of the market was responsible for the application of CRISPR technology for cell line genetic alteration in stem cell treatment and gene therapy, and it is predicted to grow fast. The ability to use this technology to create new compounds that may be used to treat diseases like malignant tumors and contagious diseases is anticipated to boost its popularity in the coming years.
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List of Key Players of CRISPR Genome Editing Market :
- Thermo Fisher Scientific
- Merck KGaA
- GenScript
- Sangamo Therapeutics
- Lonza
- CRISPR Therapeutics AG
- Precision Biosciences.
Key questions answered in this report:
- What are the growth rate forecast and market size for CRISPR Genome Editing Market ?
- What are the key driving factors propelling the CRISPR Genome Editing Market forward?
- What are the most important companies in the CRISPR Genome Editing Market Industry?
- What segments does the CRISPR Genome Editing Market cover?
- How can I receive a free copy of the CRISPR Genome Editing Market sample report and company profiles?
Report Scope:
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Recent Developments
- In 2020, Canadian Government provided a support of around USD 14-15 million through the Ministry of Innovation Science and Industry Science to Genome Canada for supporting research in 11 CRISPR genome editing projects in field of health (reproduction and cancer), agriculture, and environmental preservation.
- In 2021, a new gene-editing platform was launched at the University of Liverpool in collaboration with Inscripta to promote research of CRISPR genome editing.
Regional Dominance:
- North America to lead the global market during coming period.
Due to significant investments made by pharmaceutical & biotech businesses, rise in per capita income, enhanced health systems, accessibility of therapies, and affordability of state-of-the-art testing facilities & organizations in the region, North America has the largest proportion of the CRISPR gene editing market. Apart from that, throughout the forecast period, Asia Pacific is expected to develop at the quickest CAGR in the global CRISPR genome editing market.
Global CRISPR Genome Editing Market is segmented as follows:
CRISPR Genome Editing Market : By End-User Outlook (2022-2028)
- Academics & Government Institutes
- Biotechnology & Pharma Companies
- Contract Research Organizations
- Others
CRISPR Genome Editing Market : By Application Outlook (2022-2028)
- Cell Line Engineering
- Genetic Engineering
- Diagnostic Applications
- Drug Discovery & Development
- Others
CRISPR Genome Editing Market : By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Press Release For CRISPR Genome Editing Market : https://www.zionmarketresearch.com/news/global-crispr-genome-editing-market
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