CRISPR Technology Market Definition
The CRISPR technology market consists of sales of CRISPR technology products and related services by entities (organizations, sole traders and partnerships) that produce CRISPR technology products and equipment.
CRISPR is a genome-editing tool. It is used by researchers/healthcare professionals to alter DNA sequences and modify gene function. CRISPR is also used for correcting genetic defects, treating human diseases, and to yield better crop varieties. CRISPR stands for Clusters Of Regularly Interspaced Short Palindromic Repeats. The CRISPR-Cas9 system consists of two key molecules, — Cas9 and guide RNA, that introduce a change or mutation into the DNA at the desired position. The Cas9 is an enzyme that acts as a pair of ‘molecular scissors’ and can cut the two strands of DNA at a specific location in the genome so that bits of DNA can then be added or removed. The guide RNA (gRNA is a small piece of pre-designed RNA sequence (about 20 bases long) located within a longer RNA scaffold. The scaffold part binds to DNA and the pre-designed sequence ‘guides’ Cas9 to the right part of the genome. This makes sure that the Cas9 enzyme cuts at the right point in the genome. High orthogonality, versatility, and efficiency of CRISPR technology make it a preferred genome editing technology.
CRISPR Technology Market Size
The global CRISPR technology market reached a value of nearly $685.5 million in 2019, having increased at a compound annual growth rate (CAGR) of 35.0% since 2015. The market is expected to grow from $685.5 million in 2019 to $1,654.2 million in 2020 at a rate of 24.6%. It is expected to reach $2,569.8 million in 2023, and $6,703.7 million in 2030.
Growth in the historic period resulted from rise in funding, and increase in pharmaceutical R&D expenditure. Factors that negatively affected growth in the historic period were regulatory challenges, and lack of standardized regulations in the majority of countries.
Going forward, rising demand for gene therapeutics, technological advancements in the fields of genome editing, growing demand for the discovery of drugs, increasing demand for CRISPR in diagnostics, rising demand for CRISPR technologies in agriculture applications, and rising adoption of CRISPR technologies will drive the growth. Factors that could hinder the growth of the CRISPR technology market in the future include ethical concerns related to genetic research, and increasing occurrence of off-target genome editing.
CRISPR Technology Market Drivers
The key drivers of the CRISPR technology market include:
Rising Demand For Gene Therapeutics
Rising focus on gene therapeutics will contribute to the growth of the market for CRISPR technology. 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. For instance, 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.ii Gene therapy works by introducing a DNA containing a functioning gene into a patient to correct the effect of a disease causing gene.iii There has been increasing preference for gene therapy in treatment of several diseases including cancer, cystic fibrosis, and AIDS.iv Rising demand for gene therapeutics will drive the market for CRISPR technology going forward.
CRISPR Technology Market Restraints
The key restraints on the CRISPR technology market include:
Ethical Concerns Related To Genetic Research
Ethical concerns related to genetic research are expected to retrain the growth of the CRISPR technology market during the forecast period. There are many ethical concerns relating to the usage of CRISPR technology due to several factors such as possibility of off-target effects, and lack of informed consent for germline therapy, among others.v Ethical concerns might have a negative impact on the growth of the market.
CRISPR Technology Market Trends
Major trends influencing the CRISPR technology market include:
Technological Advances
Scientists, researchers and companies are increasingly developing advanced CRISPR technologies for more precise editing and to get access to difficult to reach areas of human genome. For instance, In March 2020, Scientists at University of Toronto developed CHyMErA, a CRISPR-based tool for more versatile genome editingvi. In March 2020, researchers at New York genome center developed a new CRISPR screening technology to target RNA, including RNA of novel viruses like COVID. In November 2019, researchers at ETH Zurich, Switzerland, swapped CAS9 enzyme for Cas 12a, that allowed the researchers to edit genes in 25 target sitesvii. It is also estimated that hundreds of target sites can be modified using the above method. In October 2019, a team from MIT and Harvard developed new CRISPR genome editing approach called prime editing by combining CRISPR-Cas9 and reverse transcriptase into a single protein. The prime editing has the potential to directly edit human cells with high precision and efficiency.
Increased Demand For CRISPR Technology In Drug Discovery And Screening
Swift progress in drug discovery and development has increased the demand for new technologies and processes. Screening is an important phase in new drug development. It helps in target identification and validation. Gene editing technologies such as CRISPR produces good results in the screening phase by using the CRISPR–associated protein 9 (Cas9) enzyme and guide RNA to edit the genome at a particular point.viii The technology enables researchers to identify the target more accurately. CRISPR technology increases screening efficiency by its statistical significance, high effect rate through genetic ablation, and allows researchers to observe meaningful phenotypic effects.ix For example, in November 2019, German drug discovery and development company, Evotec SE received the CRISPR gene-editing technology license from Merck to discover and test new drugs.x
Opportunities And Recommendations In The CRISPR Technology Market
Opportunities – The top opportunities in the CRISPR technology market segmented by product type will arise in the Cas9 And gRNA segment, which will gain $698.9 million of global annual sales by 2023. The top opportunities in the CRISPR technology market segmented by end-user will arise in the biopharmaceutical companies, which will gain $572.9 million of global annual sales by 2023. The top opportunities in the CRISPR technology market segmented by application will arise in the biomedical, which will gain $542.9 million of global annual sales by 2023. The CRISPR technology market size will gain the most in the USA at $288.4 million.
Market-trend-based strategies for the CRISPR technology market include on developing innovative next-generation technology, developing improved CRISPR technologies for better results in new drug developments, using AI to improve efficiency and accuracy of gene editing with CRISPR, investing in new approaches such as IDMseq to increase accuracy, establishing collaborations with companies, and providing license agreements to biotechnology and pharmaceutical companies. Player-adopted strategies in the CRISPR technology market include expanding through strategic collaborations, expanding through licensing agreements, expanding through the launch of new products and services, and developing advanced next-generation technologies to remain competitive in the market.
Recommendations – To take advantage of the opportunities, the business research company recommends the CRISPR technology companies to focus on developing CRISPR technologies for agricultural applications, focus on mergers and acquisitions, offer skimmed pricing, license agreements between CRISPR technology developers and end-users and attending business events
CRISPR Technology Market Segmentation
The CRISPR technology market is segmented by product type, by end-user, by application and by geography.
By Product Type -
The CRISPR technology market can be segmented by product type
- a. Cas9 And gRNA
- b. Design Tools
- c. Plasmid And Vector
- d. Other Delivery System Products
The Cas9 And gRNA market was the largest segment of the CRISPR technology market segmented by product type, accounting for 76.4% of the total in 2019. Going forward, the design tool segment is expected to be the fastest growing segment in the CRISPR technology market, at a CAGR of 29.7% during 2019-2023.
By End-User –
The CRISPR technology market can be segmented by end-user into
- a. Academic Research Organizations
- b. Biopharmaceutical Companies
- c. Agricultural Biotechnology Companies
- d. Contract Research Organizations (CROs)
The biopharmaceutical companies market was the largest segment of the CRISPR technology market segmented by end-user, accounting for 55.0% of the total in 2019. Going forward, it is also expected to be the fastest growing segment in the CRISPR technology market segmented by end-user, at a CAGR of 26.0% during 2019-2023.
By Application –
The CRISPR technology market can be segmented by application
- a. Biomedical
- b. Agriculture
- c. Diagnostics and Others
The biomedical market was the largest segment of the CRISPR technology market segmented by application, accounting for 53.0% of the total in 2019. Going forward, it is also expected to be the fastest growing segment in the CRISPR technology market segmented by application, at a CAGR of 25.7%.
By Geography-
The CRISPR technology market is segmented into
- o North America
- o Western Europe
- o Asia Pacific
- China
- India
- Japan
- Australia
- Indonesia
- South Korea
- o Eastern Europe
- o South America
- o Middle East
- o Africa
North America was the largest region in the global CRISPR technology market, accounting for 51.3% of the total in 2019. It was followed by Asia Pacific, Western Europe, and then the other regions. Going forward, the fastest-growing regions in the CRISPR technology market will be the Middle East, and South America, where growth will be at CAGRs of 130.6% and 41.1% respectively during 2019-2023. These will be followed by Asia Pacific, and Eastern Europe, where the markets are expected to grow at CAGRs of 31.2% and 30.1% respectively during 2019-2023.
CRISPR Technology Competitive Landscape
Major Competitors are:
- • Crispr Therapeutics
- • Thermo Fisher Scientific
- • Intellia Therapeutics
- • Horizon Discovery
- • Synthego Corporation
Other Competitors Include:
- • Integrated Dna Technology (Danaher)
- • Editas Medicine
- • GenScript
- • Agilent Technologies
- • New England Biolabs
- • CSIR-Institute of Genomics & Integrative Biology (IGIB)
- • Strand Life Sciences Pvt. Ltd
- • Bio Palette Co., Ltd
- • CSL Limited
- • C4U Co., Ltd
- • BGI Group
- • Churchi Genome Engineering and Therapeutic Research Center.
- • Eurofins Genomics India
- • Setsurotech Co., Ltd
- • Institut Pasteur
- • CureVac
- • Merck
- • Cellectis
- • BiovelocITA S.r.l
- • Evotec A.G
- • SNIPR Biome
- • Oxford Genetics
- • ERS Genomics
- • Alia Therapeutics
- • Solvo
- • BioTalentum
- • Rosneft
- • BIOCAD
- • BioVendor
- • Research & Diagnostic Products
- • Contipro
- • Lonza Biotec
- • Sotio
- • Selvita
- • BioVentures Institute Ltd
- • Sigma-Aldrich
- • Poseida Therapeutics
- • NanoCellect Biomedical
- • Sherlock Biosciences
- • Repare Therapeutics
- • Inscripta, Inc.
- • Santa Cruz Biotechnology
- • Caribou Biosciences Inc
- • Beam Therapeutics
- • Egenesis Inc
- • Homology Medicines
- • Inari Agriculture, Inc
- • Precision BioSciences
- • Cell Microsystems, Inc
- • Takara Bio USA, Inc
- • GeneCopoeia
- • Origene Technologies, Inc
- • Pluristem Therapeutics Inc
- • System Biosciences
- • 54gene