Global CRISPR Market: By Product Type (Vector-based Cas, DNA-free Cas), By Application (Functional Genomics, Knockdown/activation, Genome Engineering, Disease models, Other Applications), By Distribution Channel (Biotechnology & Pharmaceutical Companies, Academic & Government Research Institutes, Others), and Geography

 

CRISPR Market size is valued at USD 1,087.2 million in 2021 and is expected to reach USD 5,068.9 million by 2028, at a CAGR of 24.6% during the forecast period 2022-2028. CRISPR is an acronym for Clustered Regularly Interspaced Short Palindromic Repeat. CRISPR is also called as CRISPR/Cas9. The scientific world is attracted by this revolutionary technology. CRISPR technology is a simple yet powerful tool that is used for editing genomes. This technology is used to alter the DNA sequence and modify gene function. Its major application includes correcting genetic defects, treating, and preventing the spread of diseases and is also used improving crops. The technological advancements are the key factors attributed for the growth of the CRISPR market. Increase in the prevalence of genetic and growing drug discovery activities are expected to boost the market revenue growth. The growing demand for synthetic genes and increase in the R&D expenditure on biotechnology and raising government expenditure on genetic research is enriching the growth of the CRISPR market. However, complications such as gene editing of germ line cells are hindering the growth of the market. Since the changes made in germ line cells are transferred to the next generations. The gene editing of germ line cells also has ethical issues and is illegal in most of the countries such as the UK. Limited awareness is another factor hindering the growth of the CRISPR market. this report studies global Market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, The global CRISPR Market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global CRISPR Market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities).