The CRISPR market is projected to reach USD 7.1 billion by 2028 from USD 3.4 billion in 2023, at a CAGR of 15.6% during the forecast period. The key factors driving the growth of the global CRISPR market are growing demand for CRISPR-based gene therapies, growing advancements of CRISPR technology, and growing investment and funding from the government for CRISPR technology.
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CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) technology was a rapidly growing field with significant market potential. However, it’s important to note that the market landscape can change over time, so the current situation may be different.
Several companies were actively involved in the CRISPR Market, including:
Editas Medicine: A leading biotechnology company focused on developing gene editing therapies using CRISPR technology.
CRISPR Therapeutics: Another prominent player in the field, specializing in the development of gene-based medicines for various genetic diseases.
Intellia Therapeutics: A biotechnology company that utilizes CRISPR technology for developing potential cures for genetic diseases.
Sangamo Therapeutics: While not exclusively focused on CRISPR, Sangamo is a key player in the gene editing space and has developed its own genome editing technology called zinc finger nuclease (ZFN).
“Drug Discovery & Development segment is the fastest-growing segment of the CRISPR market”
In 2023, the drug discovery & development segment accounted for the fastest-growing share of the application segment of CRISPR market. Market growth can largely be attributed to the potential of CRISPR technology to develop personalized therapies by precisely editing patient-specific genetic variations. The market is also driven by its application in drug target validation and lead optimization, increasing investment from both the public and private sectors, as well as CRISPR based functional genomics screening expediting the drug discovery process.
Asia Pacific: The fastest-growing region in the CRISPR market.
The Asia Pacific CRISPR market is projected to grow at the highest CAGR during the forecast period, mainly due to increasing awareness of the importance of the research and development activities in the healthcare industry, large patient population, and advancements in sequencing technologies. The Asian market has also garnered significant attention from global players due to the increased focus on personalized medicine, driving the demand for CRISPR products.
Key Market Players
The market for CRISPR is highly fragmented, with key players strategizing to capture the market. Prominent players in the CRISPR market are Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Genscript Biotech Corporation (China), CRISPR Therapeutics AG (Switzerland), Editas Medicine (US), Intellia Therapeutics, Inc. (US), Beam Therapeutics Inc. (US), Caribou Biosciences, Inc. (US), Lonza Group, Ltd. (Switzerland), Danaher Corporation (US), PerkinElmer, Inc. (US), Hera Biolabs (US), OriGene Technologies, Inc. (US), Cellecta, Inc. (US), Mammoth Biosciences, Inc. (US), Applied StemCell (US), New England Biolabs Inc. (US), ToolGen Inc. (South Korea), GeneCopoeia, Inc. (US), Twist Bioscience Corporation (US), Synthego Corporation (US), eGenesis (US), Inscripta, Inc. (US), and Precision BioSciences, Inc. (US).
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