CRISPR is a popular gene editing technology for replacing, editing and deleting specific DNA sequences. Over the past few years, CRISPR has witnessed a widespread adoption in the life sciences market for its growing application scope ranging from therapeutic development to agricultural bioengineering. CRISPR technology is helping biologists to generate genetically modified species of plants and animals. Rising geriatric population base, growing pharmaceutical & biotechnology industries and increasing prevalence of genetic birth disorders are some of the major growth drivers of the market under the study period. Increased expenditure on research & development along with favorable funding options for genomic research is also anticipated to have a positive impact on the industry growth of the technology. In addition, continuous technological advancements in the genomic research field will further aid to the market growth for CRISPR technology over the coming years. However, stringent regulatory issues, low-awareness and less penetration in the emerging markets are the key challenges, which may hinder market growth for this gene-editing technology in the coming years.
In 2012, commercialization of this technology began with the emergence of a considerable number of venture capitalist and startups by showing their focus into CRISPR gene editing technology. Research and educational firms are the main consumers of this technology followed by bio-pharma companies. CRISPR technology is a relatively simple, cost-effective and more efficient gene editing technology, which is further adding to its popularity and adoption in the current market. Moreover, growing need of GMO crops for burgeoning population and rising demand for advanced and synthetic genes is expected to increase the market penetration of the technology over the coming years.
The global CRISPR market has been segmented based on applications into genome editing, CRISPR plasmid, genetic engineering, human stem cells, gRNA database/gene library, genetically modified organisms/crops and cell line engineering. The cell line engineering segment has accounted for the major share and is projected to grow at a substantial rate over the forecast period owing to its growing demand amongst researchers and scientist across the globe. Genetic engineering segment is also expected to grow at the fastest rate in the near future due to its rising adoption in the market for various end-use applications. Furthermore, the CRISPR market has been segmented based on end user into biotechnology companies, pharmaceutical companies, academic institutes and research and development institutes.
North America dominates the global CRISPR market and is anticipated to continue its dominance over the forecast period on account of growing biotechnology and pharmaceutical industries coupled with continuous technological innovations in the region. Asia Pacific is also expected to grow at a significant rate in the near future owing to the increasing expansion of gene editing companies and increased R&D expenditure for the economy development
The key industry players include Caribou Biosciences, Cellectis, CRISPR therapeutics, Editas Medicine, GenScript, Horizon discovery PLC, Integrated DNA technologies, Intellia, Lonza group limited, New England Biolabs, Oregene Technologies, Precision biosciences, Sangamo Biosciences Inc., Sigma Aldrich, Thermo Fisher Scientific and Transposgen Biopharmaceuticals. CRISPR is a niche product and companies are investing for the development, approval and commercialization of genetically modified products. However, misuse of this technology in human cloning is one of the major concerns for the scientist community.
In December 2015, Bayer LifeScience and CRISPR therapeutics have agreed to form a joint venture (JV) for developing, discovering and commercializing new products to cure blindness, blood disorders, and congenital disease. Bayer has invested USD 335 million in this project.
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