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CRISPR Technology Global Market Report 2022

CRISPR Technology Global Market Report 2022

  • February 2022
  • 175 pages
  • ID: 6229182
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the market are Thermo Fisher Scientific, GenScript Biotech Corporation, CRISPR Therapeutics AG, Editas Medicine, Horizon Discovery Plc., Integrated DNA Technologies Inc. (Danaher), Origene Technologies Inc., Transposagenbio Biopharmaceuticals (Hera Biolabs), Intellia Therapeutics Inc. and GeneCopoeia Inc.

The global CRISPR technology market is expected to grow from $1064.91 million in 2021 to $1327.27 million in 2022 at a compound annual growth rate (CAGR) of 24.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3112.26 million in 2026 at a CAGR of 23.7%.

The CRISPR technology market consists of sales of CRISPR technology products and services which is a gene-editing technology that allows researchers to alter DNA sequences and modify gene function.CRISPR is a group of DNA sequences present in the genomes of bacteria and archaea, which are prokaryotic species.

These sequences are obtained from bacteriophage DNA pieces that infected the prokaryote before.

The main types of products in CRISPR technology are design tools, plasmid and vector, CAS9 and G-RNA and delivery system products.CRISPR-Cas9 is a groundbreaking technology that allows geneticists and medical researchers to edit portions of the genome by removing, inserting, or changing DNA sequences.

The different applications include genome editing or genetic engineering, genetically modified organisms, agricultural biotechnology, others and are used by several sectors such as industrial biotech, biological research, agricultural research, therapeutics and drug discovery.

The application of CRISPR technology as a diagnostic tool is expected to boost the market during the period.The Sherlock CRISPR SARS-CoV-2 kit is the first diagnostic kit based on CRISPR technology for infectious diseases caused due to COVID-19.

In May 2020, FDA announced the emergency use authorization to the Sherlock BioSciences Inc’s Sherlock CRISPR SARS-CoV-2 kit which is a CRISPR-based SHERLOCK (Specific High-sensitivity Enzymatic Reporter unLOCKing) diagnostic test.This test helps in specifically targeting RNA or DNA sequences of the SARS-CoV-2 virus from specimens or samples such as nasal swabs from the upper respiratory tract and fluid in the lungs from bronchoalveolar lavage specimens.

This diagnostic kit has high specificity and sensitivity and does not provide false negative or positive results. Widening the application of CRISPR technology for the diagnosis of infectious diseases will increase the demand for CRISPR technology products and services.

Stringent government regulations are expected to retard the growth of the CRISPR technology market during the period.There is no existence of internationally agreed regulatory framework for gene editing products and countries are in the process of evaluating whether and to what extent current regulations are adequate for research conducted with gene editing and applications and products related to gene editing.

The Court of Justice of the European Union ruled that it would treat gene-edited crops as genetically modified organisms, subject to stringent regulation.In April 2019, the Australian government stated that the Office of the Gene Technology Regulator (OGTR) will regulate only the gene-editing technologies that use a template, or that insert other genetic material into the cell.

According to an article of 2020, in India, as per the National Guidelines for Stem Cell Research, genome modification including gene-editing by CRISPR-Cas9 technology of stem cells, germ-line stem cells or gamete and human embryos is restricted only to in-vitro studies. Thus, strict regulations by the government present a threat to the growth of the market.

Several advancements in CRISPR technology are trending in the market during the period.Advancements in technology will help in reducing errors, limiting unintended effects, improving the accuracy of the tool, widening its applications, developing gene therapies and more.

In 2019, a study published in Springer Nature stated the development of an advanced super-precise new CRISPR tool that allows researchers more control over DNA changes.This tool seems to have the capability of providing a wider variety of gene edits which might potentially open up conditions that have challenged gene-editors.

Also, in 2020, another study in Springer Nature stated that researchers have used enzyme engineering to boost the accuracy of the technique of error-prone CRISPR–Cas9 system to precisely target DNA without introducing as many unwanted mutations. The advancements in CRISPR technology will result in better tools that are capable of providing better outcomes.

In 2019, Cardea Bio Inc., a US-based biotechnology infrastructure company that manufactures biology-gated transistors (Cardean transistors) that utilizes biocompatible graphene instead of silicon and replaces optical signal observations with direct electrical molecular signal analysis, merged with Nanosens Innovations, Inc. The merger is aimed at accelerating the development of the genome sensor that combines Nanosens’ CRISPR-Chip technology with Cardea’s graphene biosensor infrastructure and is the first DNA search engine globally that runs on CRISPR-Chip technology. Nanosens will be operating as a subsidiary of Cardea Bio. Nanosens Innovations, Inc. is a US-based biotechnology company that develops CRISPR-Chip and FEB technology.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

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