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Steady CRISPR/CAS 9 market revenue growth is due to its ability to correct genetic defects, yield better crop varieties, and to treat human diseases

VANCOUVER, BRITISH COLUMBIA, CANADA, April 13, 2023 /EINPresswire.com/ -- The global CRISPR/CAS 9 technology market size is expected to reach USD 6,221 Million at a steady revenue CAGR of 20.4% in 2028, according to latest analysis by Emergen Research. Robust global CRISPR/CAS 9 technology market revenue growth is driven to a significant extent by rising support through government and private funding. Genetic engineering is witnessing substantial transformation due to CRISPR/CAS 9, which is a gene-editing tool. CRISPR/CAS 9 allows scientist to alter DNA of different species with precision and high speed.

CRISPR-based platforms have been developed for identification of genes that are controlling cellular processes which result in neurodegenerative diseases such as Alzheimer's and Parkinson's. CRISPR can help to develop new treatments for such diseases. Researchers are using CRISPR to develop new ways to enhance environmental stress tolerance and crop diseases resistance in plants. If successful without any negative effects, this could help feed the ever-growing global population.

CAS 9 has helped in achieving significant advancements in drug discovery and precluding genetic and cardiovascular diseases in humans. Novel treatment for single-gene disorders such as hemophilia, cystic fibrosis, and sickle cell disease are being researched using CAS 9 tools. The technique is useful in prevention and cure of complex conditions such as heart diseases, cancer, HIV (Human Immunodeficiency Virus), and mental illness. With increase in research and development in technology, its potential can be explored in new areas of disease model development, target screening and drug compound, and agriculture and nutritional health products.

However, ethical concerns regarding genetic research will hinder growth of the market to a major extent. Possibility of off-target effects and lack of informed consent for germline therapy is hampering market growth.

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Market Drivers:

The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.

Report Scope:

Historical Data: 2018-2019

Forecast Period: 2021-2028

CAGR: 20.4%

Base Year: 2020

Number of Pages: 250

Some Key Highlights from the Report

In May 2021, ERS Genomics Limited and GenScript Biotech Corporation announced signing of a non-exclusive agreement granting the latter access to ERS Genomics’ CRISPR/Cas9 patent portfolio. ERS was formed to provide access to foundational CRISPR/Cas9 intellectual property that is co-owned by GenScript Biotech Corporation and Dr. Emmanuelle Charpentier. The agreement will enhance GenScript’s CRISPR offering for gene and cell therapy research.

Service segment revenue is expected to expand at a rapid rate during the forecast period as several researchers working on genome engineering are adopting CRISPR/CAS 9 products. Cell line engineering is one of the most commonly used services. Companies are leveraging this technology to engineer a wider range of CRISPR models with locus-specific modifications.

Biomedical segment accounted for a significantly large revenue share in 2020 due to increased implementation of CRISPR in several areas of biomedical science. Extensive research and implementation of nano-carriers has improved efficacy of the product and is further driving revenue growth of the segment.

Academics & government research institutes segment revenue is expected to expand at a rapid rate during the forecast period due to high number of ongoing pipeline projects. Increased investment by government and private sectors to develop more advanced technologies for treatment of chronic diseases is further driving revenue growth of this segment.

North America accounted for largest revenue share in 2020 due to increased government investment in development of innovative solutions to treat genetic diseases. Crops treated with CRISPR in countries in the region are not classified as GMOs (Genetically modified organisms), which further attract several agricultural companies to commercialize CRISPR-edited crops.

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Regional Segmentation:

North America

Latin America

Europe

Middle East & Africa

Asia Pacific

The leading market contenders listed in the report are:

Boston Merck KGaA, AstraZeneca PLC, GenScript, eGenesis, Caribou Biosciences, Inc., Horizon Discovery Group plc, Lonza, Thermo Fisher Scientific, Inc., Hera BioLabs, and Takara Bio Inc

Market Segmentations of the CRISPR/CAS 9 Technology Market

This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the forecast period. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global CRISPR/CAS 9 Technology market on the basis of product, application, and region:

Segments Covered in this report are:

Product & Service Outlook (Revenue, USD Million; 2018–2028)

By Product

Kits & Enzymes

Vector-based Cas

DNA-free Cas

Libraries

Design Tool

Antibodies

Others

By Service

Cell Line Engineering

gRNA Design

Microbial Gene Editing

DNA Synthesis

Application Outlook (Revenue, USD Million; 2018–2028)

Biomedical

Genome Engineering

Disease Model Studies

Functional Genomics

Epigenetics

Others

Agricultural

End-use Outlook (Revenue, USD Million; 2018–2028)

Biotechnology & Pharmaceutical Companies

Contract Research Organizations (CROs)

Academics & Government Research Institutes

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Insecurity about the future:

Our research and insights help our clients to anticipate upcoming revenue compartments and growth ranges. This help our client to invest or divest their assets.

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Evaluating potential business partners:

Our research and insights help our clients in identifying compatible business partners.

In conclusion, the CRISPR/CAS 9 Technology Market report is an exhaustive database that will help readers formulate lucrative strategies. The CRISPR/CAS 9 Technology Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.

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