CRISPR Technology Market Size to Grow by USD 2.88 billion | 44% of the growth to originate from North America | 17,000+ Technavio Reports
NEW YORK, May 27, 2022 /PRNewswire/ -- The CRISPR technology market potential growth difference will grow by USD 2.88 billion from 2021 to 2026, as per the latest market analysis report by Technavio. The report predicts the market to witness an accelerating growth momentum at a CAGR of 19.34% during the projected period. The increasing demand for the treatment of genetic diseases is notably driving the CRISPR technology market growth, although factors such as ethical issues associated with CRISPR technology may impede the market growth. Furthermore, the advent of CRISPR/ Cas9 is one of the key CRISPR technology market trends that is expected to impact the industry positively in the forecast period.
The CRISPR technology market is segmented by application into biological application, agricultural application, industrial application, and others. The biological application segment held the largest market share in 2021. The segment will continue to account for the highest revenue throughout the forecast period.
The growth of the segment is attributed to the increasing number of biomedical research studies being conducted in universities and research institutions. This is due to increasing awareness about the need for multidisciplinary and interdisciplinary genetics research studies to treat complex diseases and disorders has given a boost to biomedical research.
CRISPR Technology Market: Geography Landscape
44% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for CRISPR technology in North America. Market growth in this region will be faster than the growth of the market in Europe and ROW.
The increasing spending on research, the presence of biotechnology companies and vendors that offer gene-editing services, and the high focus on biomedical research by universities and research institutions will facilitate the CRISPR technology market growth in North America over the forecast period.
The CRISPR technology market is fragmented and the vendors are deploying growth strategies such as investment in R&D to compete in the market. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Companies are launching innovative solutions to ensure their position is retained in the market. For instance, Danaher Corp. offers Alt-R CRISPR-Cas9 System, which is an optimized genome editing solution that outperforms other CRISPR approaches for producing on-target, double-stranded DNA breaks.
Exhibit 109: Intellia Therapeutics Inc. - Overview
Exhibit 110: Intellia Therapeutics Inc. - Business segments
Exhibit 111: Intellia Therapeutics Inc. - Key offerings
Exhibit 112: Intellia Therapeutics Inc. - Segment focus
10.8 Lonza Group Ltd.
Exhibit 113: Lonza Group Ltd. - Overview
Exhibit 114: Lonza Group Ltd. - Product / Service
Exhibit 115: Lonza Group Ltd. - Key news
Exhibit 116: Lonza Group Ltd. - Key offerings
10.9 New England Biolabs Inc.
Exhibit 117: New England Biolabs Inc. - Overview
Exhibit 118: New England Biolabs Inc. - Product / Service
Exhibit 119: New England Biolabs Inc. - Key news
Exhibit 120: New England Biolabs Inc. - Key offerings
10.10 OriGene Technologies Inc.
Exhibit 121: OriGene Technologies Inc. - Overview
Exhibit 122: OriGene Technologies Inc. - Product / Service
Exhibit 123: OriGene Technologies Inc. - Key offerings
10.11 PerkinElmer Inc.
Exhibit 124: PerkinElmer Inc. - Overview
Exhibit 125: PerkinElmer Inc. - Business segments
Exhibit 126: PerkinElmer Inc. - Key news
Exhibit 127: PerkinElmer Inc. - Key offerings
Exhibit 128: PerkinElmer Inc. - Segment focus
10.12 Thermo Fisher Scientific Inc.
Exhibit 129: Thermo Fisher Scientific Inc. - Overview
Exhibit 130: Thermo Fisher Scientific Inc. - Business segments
Exhibit 131: Thermo Fisher Scientific Inc. - Key news
Exhibit 132: Thermo Fisher Scientific Inc. - Key offerings
Exhibit 133: Thermo Fisher Scientific Inc. - Segment focus
11 Appendix
11.1 Scope of the report
11.2 Inclusions and exclusions checklist
Exhibit 134: Inclusions checklist
Exhibit 135: Exclusions checklist
11.3 Currency conversion rates for US$
Exhibit 136: Currency conversion rates for US$
11.4 Research methodology
Exhibit 137: Research methodology
Exhibit 138: Validation techniques employed for market sizing
Exhibit 139: Information sources
11.5 List of abbreviations
Exhibit 140: List of abbreviations
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