CRISPR Market Report, By Product Type (Enzymes, Kits and Reagents, Guide RNA, Services), By End User (Pharmaceutical Companies and Biotechnology Companies, Academics and Government Research Institutes, Others), and Regions 2024-2032

Market Overview:

"The global CRISPR market was valued at US$ 3.3 Billion in 2023 and is expected to register a CAGR of 11.2% over the forecast period and reach US$ 8.6 Billion in 2032."

Gene editing is a relatively recent biotechnological approach used to modify the genomes of living organisms to enhance their health or economic value. Today, gene editing is applied not only in medicine but also in agriculture. CRISPR technology represents a newly advanced method that enables precise and efficient gene modification in organisms.

A major factor driving the global CRISPR technology market is the rising demand for highly advanced products and technologies. The market is also being boosted by several factors, particularly the increasing prevalence of genetic disorders such as Down syndrome and growing government funding for genomics research. According to the World Health Organization (WHO), Down syndrome has a global prevalence rate of approximately 1 in 1000 to 1 in 1100. Additionally, the American Society of Hematology notes that over 300,000 newborns are affected by sickle cell disease each year. The increasing integration of genomics within the medical field has also positively influenced the global CRISPR technology market.

CRISPR Market Trends and Drivers:

The demand for CRISPR-based treatments is driving market growth, especially to meet previously unmet medical needs in areas such as cancer and rare genetic disorders. The precision and flexibility of CRISPR open up promising avenues for developing customized therapies for conditions that were once considered untreatable.

As knowledge of genetic disorders expands and genome editing technology progresses, stakeholders are intensifying their efforts to introduce CRISPR therapies to the market. This trend is expected to boost research funding, initiate more clinical trials, and facilitate regulatory approvals to meet critical patient needs worldwide.

The expanding use of gene editing technologies beyond healthcare, particularly in agriculture and biotechnology, is another significant factor propelling the CRISPR industry. CRISPR offers precise and efficient tools for bioengineering, livestock breeding, and agricultural advancements. As the global population grows and environmental challenges persist, there is increasing pressure to improve sustainability, food security, and industrial practices.

This trend supports the influx of funding for CRISPR research and commercialization, fostering opportunities for innovation and development across various sectors beyond just healthcare.

In recent years, there has been a notable increase in investment and funding from governments worldwide specifically directed towards CRISPR technology. This has created a conducive environment for research and development in the field, enabling breakthrough discoveries and propelling the market forward. For instance, in February 2023, Indian biotechnology start-up CrisprBits has raised $250,000 in pre-seed funding from US-based VJ Group. The funding will be used to develop products, expand the team and invest in research and development. CrisprBits plans to develop CRISPR-based diagnostics to detect pathogens and antimicrobial resistance genes.

CRISPR Market Segmentation:

By Product Type

• Enzymes
• Kits and Reagents
• Guide RNA
• Services

By End User

• Pharmaceutical Companies and Biotechnology Companies
• Academics and Government Research Institutes
• Others

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Leading Key Players in CRISPR Market & Competitive Landscape:

The competitive landscape of the global CRISPR market is marked by the presence of numerous prominent players striving to maintain their market positions through different strategies. Key players emphasize on product innovation to develop CRISPR that provide superior performance and address specific customer needs. In addition, strategic collaborations, mergers, and acquisitions are common strategies employed by prominent companies to expand their product portfolios, improve market presence, and gain a competitive advantage. Along with that, investments in research and development, coupled with geographical expansions, are vital for sustaining growth and competitiveness in the dynamic CRISPR market.

These companies include:

• Thermo Fisher Scientific
• Merck & Co. Inc.
• Genscript
• Sangamo Therapeutics Inc.
• Integrated DNA Technologies Inc.
• Lonza
• New England Biolabs
• CRISPR THERAPEUTICS
• Mirus Bio LLC
• Takara Bio Inc.
• Abbott Laboratories
• ABio-Rad Laboratories Inc.
• Among Others

CRISPR Market Research Scope