The global Prime Editing And CRISPR Market was estimated at $2.69 billion in 2020 and is expected to hit $23.49 billion by 2030, registering a CAGR of 24.3% from 2020 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Advancements in R&D in genetic engineering, rise in demand for genetically modified crops, and surge in prevalence of chronic and genetic diseases drive the growth of the global prime editing and CRISPR market. On the other hand, several legal & ethical issues and lack of safety toward gene editing restrain the growth to some extent. However, increase in R&D activities by major key players and decrease in cost of genomic sequencing are expected to create multiple opportunities in the industry.
COVID-19 scenario-
- The outbreak of the pandemic led to increased need for development of healthcare information technology and remote monitoring services, thereby impacting the global prime editing and CRISPR market positively.
- This trend is quite likely to continue post pandemic as well, since the demand for remote monitoring services is expected to remain constant.
The global prime editing and CRISPR market is analyzed across service, application, end user, and region. Based on service, the gene editing segment contributed to more than two-fifths of the total market share in 2020, and is expected to dominate by 2030. The gene-modified cell therapy segment, on the other hand, would cite the fastest CAGR of 25.40% throughout the forecast period.
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Based on application, the agricultural research segment held the major share in 2020, accounting for nearly half of the total market share. In addition, the segment is projected to retain the lion’s share by 2030. Simultaneously, the biomedical research and therapy segment would cite the fastest CAGR of 25.00% from 2020 to 2030.
Based on region, North America accounted for the highest market share in 2020, generating nearly half of the global prime editing and CRISPR market. At the same time, the market across Asia-Pacific would manifest the fastest CAGR of 28.10% during the forecast period. The other provinces studied in the report include Europe and LAMEA.
The key market players analyzed in the global prime editing and CRISPR market report include CRISPR Therapeutics, GenScript Biotech, Beam Therapeutics, Integrated DNA Technologies (IDT), Horizon Discovery, Synthego Corporation, Intellia Therapeutics Inc., Inscripta, Precision Bioscience, and Sangoma Therapeutics. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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