How Global CRISPR Technology Market Players Should Strategize For 2022-2031

The global CRISPR technology market size is expected to grow from $1.06 billion in 2021 to $1.33 billion in 2022 at a compound annual growth rate (CAGR) of 24.6%. The growth in the CRISPR market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The CRISPR technology market is expected to reach $3.11 billion in 2026 at a CAGR of 23.7%.

What is the Global CRISPR Technology Market?

The CRISPR technology market consists of sales of CRISPR technology products and services which is a gene-editing technology that allows researchers to alter DNA sequences and modify gene function. CRISPR is a group of DNA sequences present in the genomes of bacteria and archaea, which are prokaryotic species. These sequences are obtained from bacteriophage DNA pieces that infected the prokaryote before.

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What drives the Global CRISPR Technology Market?

The application of CRISPR technology as a diagnostic tool is expected to boost the market during the period. The Sherlock CRISPR SARS-CoV-2 kit is the first diagnostic kit based on CRISPR technology for infectious diseases caused due to COVID-19. In May 2020, FDA announced the emergency use authorization to the Sherlock BioSciences Inc’s Sherlock CRISPR SARS-CoV-2 kit which is a CRISPR-based SHERLOCK (Specific High-sensitivity Enzymatic Reporter unlocking) diagnostic test. This test helps in specifically targeting RNA or DNA sequences of the SARS-CoV-2 virus from specimens or samples such as nasal swabs from the upper respiratory tract and fluid in the lungs from bronchoalveolar lavage specimens. This diagnostic kit has high specificity and sensitivity and does not provide false negative or positive results. Widening the application of CRISPR technology for the diagnosis of infectious diseases will increase the demand for CRISPR technology products and services.

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Global CRISPR Technology Market Segments
The global CRISPR technology market is segmented:
By Product Type: Design Tools, Plasmid and Vector, Cas9 and G-RNA, Delivery System Products
By Application: Genome Editing/ Genetic Engineering, Genetically Modified Organisms, Agricultural Biotechnology, Others
By End-User: Industrial Biotech, Biological Research, Agricultural Research, Therapeutics and Drug Discovery
By Geography: The regions covered in the CRISPR technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

CRISPR Technology Global Market Report 2022provides market size and growth forecasts for the global CRISPR technology market, global CRISPR technology market share, CRISPR technology market segments and geographies, CRISPR technology market competitive landscape including leading competitors’ revenues, profiles and market shares. The CRISPR technology market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global CRISPR Technology Industry Playersinclude Thermo Fisher Scientific, GenScript Biotech Corporation, CRISPR Therapeutics AG, Editas Medicine, Horizon Discovery Plc., Integrated DNA Technologies Inc. (Danaher), Origene Technologies Inc., Transposagenbio Biopharmaceuticals (Hera Biolabs), Intellia Therapeutics Inc. and GeneCopoeia Inc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.