The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s CRISPR Technology Global Market Report 2024, the CRISPR technology market is expected to show significant growth in the forecast period.

Introduction 

The CRISPR technology market has witnessed exponential growth in recent years, with significant projections for the future. Let’s delve into the factors driving this growth and the transformative applications reshaping industries.

Market Expansion: Past and Future

• Market size soared from $1.64 billion in 2023 to $2.04 billion in 2024, with a CAGR of 24.1%.
• Forecasted to reach $4.65 billion by 2028, boasting a CAGR of 22.9%.
• Historic growth attributed to increased funding and pharmaceutical R&D expenditure.
• Future growth propelled by rising demand for gene therapeutics and technological advancements.

Driving Forces of Expansion

• Rising demand for gene therapeutics
• Technological advancements in genome editing
• Growing need for drug discovery
• Increased demand for CRISPR in diagnostics
• Adoption of CRISPR technologies in agriculture

View More On The CRISPR Technology Market Report 2024 – https://www.thebusinessresearchcompany.com/report/crispr-technology-global-market-report

Trends Shaping the Future

• Development of innovative next-generation technology
• Enhanced CRISPR technologies for drug development
• Integration of AI to improve efficiency and accuracy
• Adoption of new approaches like IDMseq
• Establishment of strategic collaborations

CRISPR in Action: Revolutionizing Diagnosis

• The Sherlock CRISPR SARS-CoV-2 kit pioneers infectious disease diagnosis.
• FDA emergency use authorization underscores its efficacy.
• High specificity and sensitivity eliminate false results.
• Widened application boosts demand for CRISPR products and services.

Key Players in the Market

• CRISPR Therapeutics
• Thermo Fisher Scientific
• Intellia Therapeutics
• Horizon Discovery
• Synthego Corporation
• Integrated DNA Technology (Danaher)
• Editas Medicine
• GenScript
• Agilent Technologies
• New England Biolabs

Innovation Driving Market Growth

• Focus on developing dedicated CRISPR products
• Example: QIAGEN NV’s QIAprep& CRISPR Kit
• Integration of Sanger method and PCR detection for enhanced precision

Market Expansion through Acquisitions

• Integrated DNA Technologies (IDT) acquires Swift Biosciences in March 2021.
• Acquisition enhances genomics capabilities for next-generation sequencing.

Market Segmentation

• Product Types: Design Tools, Plasmid and Vector, Cas9 and G-RNA, Delivery System Products
• Applications: Biomedical, Agriculture, Diagnostics, Others
• End-Users: Academic Research Organizations, Biopharmaceutical Companies, Agricultural Biotechnology Companies, Contract Research Organizations (CROs)

Regional Dominance

• North America leads the CRISPR technology market, reflecting its significant presence and innovation hubs.

Conclusion

The CRISPR technology market’s exponential growth trajectory promises transformative advancements across industries. As innovation continues to drive the market forward, strategic collaborations and technological breakthroughs will shape its dynamic landscape.

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