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Demand For Gene Therapeutics Leads To High Growth Rates For The CRISPR Technology Market

CRISPR Technology Market Report - Opportunities And Strategies - Forecast To 2030

CRISPR Technology Market Report - Opportunities And Strategies - Global Forecast To 2030

The Business Research Company’s CRISPR Technology Market Report - Opportunities And Strategies - Global Forecast To 2030

LONDON, GREATER LONDON, UK, November 20, 2020 /EINPresswire.com/ -- Global CRISPR technology market analysis shows rapid growth in the industry. Rising focus on gene therapeutics will contribute to this. Globally, there has been a growing focus on gene therapeutics due to several factors, including increasing prevalence of various genetic disorders such as hemophilia and thalassemia. According to a study conducted by McMaster University in 2019, more than 1.12 million men had hemophilia, and among those 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. There has been an increasing preference for gene therapy in treatment of several diseases, including cancer, cystic fibrosis, and AIDS. Rising demand for gene therapeutics will drive the market for CRISPR technology going forward.

The global CRISPR technology market size reached a value of nearly $0.68 billion in 2019, having increased at a compound annual growth rate (CAGR) of 35.0% since 2015. The market is expected to grow from $0.685 million in 2019 to $1.65 billion in 2020 at a rate of 24.6%. It is expected to reach $2.57 billion in 2023, and $6.70 billion in 2030.

The CRISPR technology market can be segmented by product type into Cas9 and gRNA, design tools, plasmid and vector, and other delivery system products, with the Cas9 And gRNA market accounting for 76.4% of the total in 2019. The CRISPR technology market can be segmented by end-user into academic research organizations, biopharmaceutical companies, agricultural biotechnology companies, contract research organizations (CROs), and by application into biomedical, agriculture, diagnostics and others.

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