CRISPR Technology Market: Introduction
- CRISPR is a genome-editing tool. It is used by researchers/health care professionals to alter DNA sequences and modify gene function.
- CRISPR is also used to correct genetic defects, treat human diseases, and yield better crop varieties
- CRISPR stands for Clusters of Regularly Interspaced Short Palindromic Repeats. The CRISPR-Cas9 system consists of two key molecules: Cas9 and guide RNA, which introduces a change or mutation into the DNA at the desired position.
- Cas9 is an enzyme that acts as a pair of ‘molecular scissors’ and can cut the two strands of DNA at a specific location in the genome so that bits of DNA can then be added or removed
- The guide RNA (also known as gRNA) is a small piece of pre-designed RNA sequence (about 20 bases long) located within a longer RNA scaffold. The scaffold part binds to DNA and the pre-designed sequence ‘guides’ Cas9 to the right part of the genome.
- This makes sure that the Cas9 enzyme cuts at the right point in the genome. High orthogonality, versatility, and efficiency of CRISPR technology make it a preferred genome editing technology.
Key Drivers, Restraints, and Opportunities of Global CRISPR Technology Market
- Rise in focus on gene therapeutics is projected to contribute to the growth of the global CRISPR technology market. Globally, focus on gene therapeutics has increased due to several factors including rise in prevalence of various genetic disorders such as hemophilia and thalassemia.
- According to a study conducted by McMaster University in 2019, over 1.12 million men had hemophilia, and of these 0.4 million had severe hemophilia
- Gene therapy works by introducing a DNA containing a functioning gene into a patient to correct the effect of a disease causing gene
- Preference for gene therapy in treatment of several diseases including cancer, cystic fibrosis, and AIDS has increased
- Rise in demand for gene therapeutics is anticipated to drive the global CRISPR technology market in the next few years
- Scientists, researchers, and companies are increasingly developing advanced CRISPR technologies for more precise editing and to get access to difficult to reach areas of the human genome
- In March 2020, scientists at the University of Toronto developed CHyMErA, a CRISPR-based tool for more versatile genome editing
- In March 2020, researchers at New York genome center developed a new CRISPR screening technology to target RNA, including RNA of novel viruses such as COVID-19. In November 2019, researchers at ETH Zurich, Switzerland, swapped CAS9 enzyme for CAS 12a, which allowed the researchers to edit genes in 25 target sites.
- Ethical concerns related to genetic research are expected to restrain the global CRISPR technology market during the forecast period. Usage of CRISPR technology has led to ethical concerns due to factors such as possibility of off-target effects and lack of informed consent for germline therapy. Ethical concerns could have a negative impact on the growth of the market.
North America to Dominate Global CRISPR Technology Market
- North America is likely to account for the largest share of the global market in 2031. This is attributed to rise in government and private funding, presence of major pharma and gene therapy companies, and adoption of CRISPR in a number of applications.
- Furthermore, crops that are treated with CRISPR-based gene editing are not considered GMOs in the U.S. this has attracted a number of agricultural companies to focus on the commercialization of CRISPR-edited crops.
Key Players of Global CRISPR Technology Market
- CRISPR Therapeutics
- Thermo Fisher Scientific
- GeneCopoeia, Inc.
- Intellia Therapeutics
- Horizon Discovery
- OriGene Technologies
- Synthego Corporation
- Lonza Biotec
- Integrated DNA Technology (Danaher)
- Agilent Technologies
- CSIR-Institute of Genomics & Integrative Biology (IGIB)
- BGI Group
- Eurofins Genomics India
- Setsurotech Co., Ltd.
- Merck KGaA
Global CRISPR Technology Market, Research Scope
Global CRISPR Technology Market, by Product Type
- Cas9 & gRNA
- Design Tools
- Plasmid & Vector
- Other Delivery System Products
Global CRISPR Technology Market, by Application
- Diagnostics and Others
Global CRISPR Technology Market, by End-user
- Academic Research Organizations
- Biopharmaceutical Companies
- Agricultural Biotechnology Companies
- Contract Research Organizations (CROs)
Global CRISPR Technology Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.