Rising prevalence of genetic diseases and neurodegenerative disorders, increasing number of studies and research programs on genetic engineering, and growing investments in research and development activities are some key factors expected to drive market growth.
Rising prevalence of genetic diseases and neurodegenerative disorders, increasing number of studies and research programs on genetic engineering, and growing investments in research and development activities are some key factors expected to drive market growth
According to Emergen Research, the global CRISPR/CAS9 Technology market size was USD 1,404.6 million in 2020 and is expected to reach USD 6,221 million in 2028 and register a robust revenue CAGR of 20.4% during the forecast period, 2021-2028.
Market Dynamics:
CRISPR/CAS 9 is a genome editing tool that enables highly specific and rapid modification of DNA in a genome. There has been rapid adoption of CRISPR/CAS 9 technology as it is more efficient, precise, and scalable as compared to other genome editing techniques and has the potential to edit multiple loci simultaneously. Factors such as rising prevalence of genetic disorders and various types of cancers, technological advancements in gene editing, rapid adoption of CRISPR/CAS9 technology in drug discovery, and increasing need for advanced therapies for cancer are expected to drive global market revenue growth during the forecast period.
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In addition, availability of funds to accelerate research-based activities, steadily increasing number of biotechnology & pharmaceutical companies, contract research organizations and academics & government research institutes, and rising investments by public and private sectors are other factors expected to fuel global market growth going ahead.
However, ethical issues regarding genetic research, rising concerns about off-target effects, dearth of skilled professionals, and availability of cost-effective alternative technologies are some key factors that can hamper global market growth to a significant extent during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Product Segment To Register Steady Revenue Growth:
The product segment is expected to register a steady revenue growth over the forecast period. This can be attributed to high demand for kits & enzymes, libraries, vector-based CAS, DNA-free CAS and design tools for research activities, increasing investments in developing innovative tools and CRISPR gene editing kits, and growing adoption of advanced products for multiple applications such as genome engineering, easy gene knockouts, and specific genome cleavage.
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Biotechnology and Pharmaceutical Companies Segment to Account for Largest Revenue Share:
The biotechnology and pharmaceutical companies segment is expected to account for largest revenue share during the forecast period. Factors such as increasing prevalence of various chronic diseases, rising need for developing advanced solutions for treating chronic diseases, and steady adoption of CRISPR-CAS 9 for quick identification and validation of novel therapeutic targets are expected to drive revenue growth of the segment during the forecast period.
Asia Pacific To Register In Robust Revenue CAGR:
Asia Pacific market revenue is expected to expand at a robust CAGR between 2021 and 2028 owing to large patient pool, increasing research on various diseases including cancer, HIV, Alzheimer’s among others, and rising investments in research and development activities. Other factors such as increasing funds by government and private sectors to support ongoing research activities, rising number of clinical trials, and rapid advancements in gene editing are expected to fuel Asia Pacific market growth going ahead.
Major Companies in the Market Include:
- Merck KGaA
- Boston Scientific Corporation
- Thermo Fisher Scientific
- AstraZeneca PLC
- GenScript
- eGenesis
- Caribou Biosciences, Inc.
- Horizon Discovery Group plc
- Lonza
- Applied StemCell
- Synthego Corporation
- OriGene Technologies
- Hera BioLabs
- Takara Bio Inc.
- Cellecta, Inc.
- GeneCopoeia, Inc.
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For the purpose of this report, Emergen Research has segmented the global CRISPR/CAS9 Technology market on the basis of product & service, application, end-use, and region:
Product & Service Outlook (Revenue, USD Million; 2018–2028)
- By Product
- Kits & Enzymes
- Vector-based CAS
- DNA-free CAS
- Libraries
- Design Tool
- Antibodies
- Others
- By Service
- Cell Line Engineering
- gRNA Design
- Microbial Gene Editing
- DNA Synthesis
Application Outlook (Revenue, USD Million; 2018–2028)
- Biomedical
- Genome Engineering
- Disease Model Studies
- Functional Genomics
- Epigenetics
- Others
- Agricultural
End Use Outlook (Revenue, USD Million; 2018–2028)
- Biotechnology & Pharmaceutical Companies
- Contract Research Organizations (CROs)
- Academics & Government Research Institutes
Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
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