The Global CRISPR Technology Market is estimated to be valued at US$ 3684.85 Bn in 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period to 2031.

Key Takeaways

Key players operating in the CRISPR Technology are Intertek Group Plc, SGS SA, Eurofins Scientific SE, Thermo Fisher Scientific, Inc., ALS Limited, Asurequality Limited, Bio-Rad Laboratories, Inc., and Bureau Veritas SA. The key players are investing in research and development activities to develop advanced CRISPR technologies.

There is a growing demand for CRISPR Technology Market Size  in various applications such as gene & cell therapy, drug discovery, agricultural biotechnology, and diagnosis of genetic diseases. The technology is being increasingly used for developing gene and cell therapies for cancer, HIV/AIDS, cystic fibrosis, sickle cell disease, and hereditary diseases.

Global expansion of CRISPR technology market is driven by increasing healthcare expenditure, rising R&D investments in pharmaceutical and biotech industry, and growing government support for genomic researches. Many companies have emerged in Asia Pacific and Middle East regions to develop therapies and provide CRISPR services.

Market Drivers

One of the major drivers for the growth of CRISPR technology market is the rising funding for genome editing research. There has been a significant increase in public as well as private funding to support researches involving CRISPR technology. Various government organizations as well as private foundations are financing projects involving development of CRISPR-based therapies and other applications. This rising funding is encouraging more researchers and startups to work on improving CRISPR tools, making them safer and more efficient for correcting genetic defects and treating diseases.

The current geopolitical situation is impacting the growth of the CRISPR Technology market. With rising geopolitical tensions among major economies, international collaborations in life sciences research have reduced. Many government-funded research programs for disease applications of CRISPR are now limited to domestic institutions. This has slowed progress in clinical trials for CRISPR therapeutics. However, private sector investment continues to drive the agricultural and industrial applications of CRISPR outside of human healthcare. To ensure sustainable growth, companies must diversify their research networks across geographic regions and form new international partnerships to mitigate political risks to their projects.

North America currently holds the largest share of the CRISPR technology market in terms of value, led by heavy investments from biotechnology companies and research institutes in the United States. Significant funding from the National Institutes of Health has accelerated gene-editing research. However, Asia Pacific is emerging as the fastest growing regional market for CRISPR technology. Countries like China, Japan, South Korea are rapidly building CRISPR capabilities for crop improvement, disease research, and biomanufacturing. Their governments support help boost commercialization of early-stage CRISPR applications. In the coming years, this region will witness higher adoption of CRISPR tools compared to mature markets of North America and Europe.

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