The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s CRISPR technology market report forecasts the CRISPR technology market size to grow to $3.77 Billion by 2027, with a CAGR (compound annual growth rate) of almost 23%.

Learn More On The CRISPR Technology Market Report 2023 – https://www.thebusinessresearchcompany.com/report/crispr-technology-global-market-report

CRISPR Technology Market Size Forecast
The global CRISPR technology market is expected to grow from $1.33 billion in 2022 to $1.65 billion in 2023 at a compound annual growth rate (CAGR) of 24.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global CRISPR technology market size is expected to grow to $3.77 billion in 2027 at a CAGR of 22.9%.

North America held the largest CRISPR technology market share.

Key CRISPR Technology Market Driver ­– Rise In The Application Of CRISPR Technology As A Diagnostic Tool
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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Key CRISPR Technology Market Trend – Adopting Several Advancements
Advancements in technology will help in reducing errors, limiting unintended effects, improving the accuracy of the tool, widening its applications, developing gene therapies and more. In 2020, astudy in Springer Nature stated that researchers have used enzyme engineering to boost the accuracy of the technique of error-prone CRISPR–Cas9 system to precisely target DNA without introducing as many unwanted mutations. The advancements in CRISPR technology will result in better tools that are capable of providing better outcomes.

CRISPR Technology Market Segment
1) By Product Type: Design Tools, Plasmid And Vector, Cas9 And G-RNA, Delivery System Products
2) By Application: Genome Editing/ Genetic Engineering, Genetically Modified Organisms, Agricultural Biotechnology, Other Applications
3) By End-User: Industrial Biotech, Biological Research, Agricultural Research, Therapeutics And Drug Discovery

CRISPR Technology Market Major Players and Strategies
Major players in the CRISPR technology market are 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.

In March 2021, Integrated DNA Technologies (IDT), a US-based genomics solutions provider, acquired Swift Biosciences. The acquisition aimed at leveraging Swift’s academic and clinical research in next-generation sequencing. Swift Biosciences is a US-based company involved in creating genomics kits to prepare Next-Generation Sequencing (NGS) libraries.

The CRISPR Technology Global Market Report 2023 covers regional data on CRISPR technology market size, CRISPR technology market trends and drivers, opportunities, strategies, and CRISPR technology market competitor analysis. The countries covered in the CRISPR technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

CRISPR is a gene-editing technology that allows researchers to alter DNA sequences and modify gene function. It is useful in gene editing.

View More Reports Related To The CRISPR Technology Market –
Assisted Reproductive Technology Global Market Report 2023
Genetic Testing Global Market Report 2023
Gene Editing Global Market Report 2023

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