The Global CRISPR Market is expected to grow from $268 million in 2015 and CAGR 43% for the forecasted period of 2015-2021. The gene editing technology has grown significantly in the last decade. The gene editing tools have become more accessible and cost effective which has enabled a thorough understanding of human genome. CRISPR (clustered regularly interspaced short palindromic repeats) is a new gene editing tool which has opened new doors for gene editing. This technology allows researchers to perform microsurgery on genes, precisely and easily, changing a DNA sequence at exact locations on a chromosome. The global market of CRISPR is expected to grow from $268 million in 2015 and CAGR 43% for the forecasted period of 2015-2021.
CRISPR market is expected to grow on the back of several drivers such as increased R&D expenditure on biotechnology, backed by venture capitals, increasing age related genetic disorders, increasing private and government expenditure on genetic research, high prevalence rate of genetic birth disorders and high demand of synthetic genes. Several factors such as limited awareness and little presence in emerging markets are restraints in the path of growth of the market.
The Global CRISPR market is segmented on the basis of application and end users: On the basis of application the market is segmented into Genome Editing, Genetic engineering, gRNA Database/Gene Library, CRISPR Plasmid and vectors so on. CRISPR Plasmid is the highest growing segment due to high demand among scientists and researchers. By end user, the market is segmented into Biotechnology companies, Pharmaceutical companies, Academic and research Institutes, Research and development institutes, Competitive Intelligence, Merger and Acquisitions and Innovation. In end user, the academic and research is highest growing segment due to high level of R&D into genome process, development of new drugs and development of genetically modified organisms and drugs.
The geography analysis consists of North America (US, Canada), Europe (United Kingdom, France, Germany, Spain, Italy), Asia Pacific (India, China, Japan) and Rest of the world. North America is the largest geographical market (2015) in CRISPR because high level of academies and research based in region. Asia-Pacific region is expected to grow at the fastest rate in forecasted period due to increase in number of contract research organization and emergence of drug discovery.
Major industry players in CRISPR market are: Editas Medicine (US), CRISPR therapeutics (Switzerland), GenScript USA Inc. (US), Horizon Discovery Group plc (UK), Integrated DNA Technologies, Inc. (US), Lonza Group Ltd. (Switzerland), New England Biolabs, Inc. (US), OriGene Technologies, Inc. (US), Sangamo Biosciences, Inc. (US), Sigma-Aldrich Corporation (US), Thermo Fisher Scientific, Inc. (US), and Transposagen Biopharmaceuticals, Inc. (US).