CRISPR Technology Market Growth Accelerated By Adoption In Disease Treatment

CRISPR technology is revolutionizing disease treatment and prevention by enabling precise genome editing. It allows scientists to alter DNA sequences and modify gene function. CRISPR is being leveraged for developing diagnostics, treatments and cures for various genetic disorders like cystic fibrosis, Huntington's disease and some cancers. The technology provides a simple, versatile and inexpensive tool for modifying genes and regulating gene function.

The global CRISPR Technology Market is estimated to be valued at US$ 3,684.85 Bn in 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period 2024 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Adoption of CRISPR in disease treatment is a major trend fueling market growth. Researchers are increasingly utilizing the technology for developing new therapies. For example, clinical trials are underway to test CRISPR's potential for treating β-thalassemia and sickle cell disease by directly editing blood stem cells. Pioneering efforts are also being made to use CRISPR gene drives for eradicating mosquitoes that transmit malaria and other diseases. As the technology matures and precision increases, its application in disease prevention and treatment is expected to accelerate over the coming years.

Segment Analysis

The global CRISPR technology market is dominated by the products and services sub-segment. This is due to the increased demand for CRISPR services like genome editing, genotyping, and gene assembly by the biotechnology and pharmaceutical companies. The growing applications of CRISPR in genetic engineering and therapeutics is also driving the growth of this sub-segment.

Key Takeaways

The Global CRISPR Technology Market Demand is expected to witness high growth in the forecast period of 2024-2030.

Regional analysis: Asia Pacific region dominates the global CRISPR technology market and is expected to maintain its leading position during the forecast period as well. This is attributed to rising investment in biotech start-ups and genetic research in countries like China and India. Additionally, increasing prevalence of chronic diseases and growing focus on developing advanced therapeutics is anticipated to boost the adoption of CRISPR technology in the Asia Pacific region.

Key players: Key players operating in the CRISPR technology market are Intertek Group Plc, SGS SA, Eurofins Scientific SE, Thermo Fisher Scientific, Inc., ALS Limited, Asurequality Limited, Bio-Rad Laboratories, Inc., and Bureau Veritas SA. Eurofins Scientific SE holds the leading market share due to its robust portfolio of testing services for genome editing applications using CRISPR. Intertek Group Plc and SGS SA also capture significant market share owing to their global presence and wide service offerings in quality testing and analytical testing domain respectively.

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