Feb 16, 2023

News provided by Share this article Share this article DUBLIN, Feb. 15, 2023 /PRNewswire/ -- The "CRISPR Technology Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering. The global crispr technology market will grow from $1.33 billion in 2022 to $1.65 billion in 2023 at a compound annual growth rate (CAGR) of 24.6%. The CRISPR technology market is expected to grow to $3.77 billion in 2027 at a CAGR of 22.9%. North America was the largest region in the CRISPR technology market in 2022. Western Europe was the second largest region in the CRISPR technology market. The regions covered in the CRISPR technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. 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 limit 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. 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 2020, astudy 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 March 2021, Integrated DNA Technologies (IDT), a US-based genomics solutions provider, acquired Swift Biosciences. The acquisition aimed at leveraging Swift's academic and clinical research in next-generation sequencing. Swift Biosciences is a US-based company involved in creating genomics kits to prepare Next-Generation Sequencing (NGS) libraries. Reasons to Purchase Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies. Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates. Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market. Measure the impact of high global inflation on market growth. Create regional and country strategies on the basis of local data and analysis. Identify growth segments for investment. Outperform competitors using forecast data and the drivers and trends shaping the market. Understand customers based on the latest market shares. Benchmark performance against key competitors. Suitable for supporting your internal and external presentations with reliable high quality data and analysis Scope 3. CRISPR Technology Market Trends And Strategies 4. CRISPR Technology Market - Macro Economic Scenario 5. CRISPR Technology Market Size And Growth 6. CRISPR Technology Market Segmentation 7. CRISPR Technology Market Regional And Country Analysis 8. Asia-Pacific CRISPR Technology Market 9. China CRISPR Technology Market 10. India CRISPR Technology Market 11. Japan CRISPR Technology Market 12. Australia CRISPR Technology Market 13. Indonesia CRISPR Technology Market 14. South Korea CRISPR Technology Market 15. Western Europe CRISPR Technology Market 16. UK CRISPR Technology Market 17. Germany CRISPR Technology Market 18. France CRISPR Technology Market 19. Eastern Europe CRISPR Technology Market 20. Russia CRISPR Technology Market 21. North America CRISPR Technology Market 22. USA CRISPR Technology Market 23. South America CRISPR Technology Market 24. Brazil CRISPR Technology Market 25. Middle East CRISPR Technology Market 26. Africa CRISPR Technology Market 27. CRISPR Technology Market Competitive Landscape And Company Profiles 28. Key Mergers And Acquisitions In The CRISPR Technology Market 29. CRISPR Technology Market Future Outlook and Potential Analysis 30. Appendix