Global CRISPR Technology Market Size And Drivers:
The global CRISPR technology market is expected to grow from $0.80 billion in 2020 to $0.95 billion in 2021 at a compound annual growth rate (CAGR) of 18.8%. 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 CRISPR technology market is expected to reach $2.22 billion in 2025 at a CAGR of 24%. The application of CRISPR technology as a diagnostic tool is expected to boost the market during the period.
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Trends In The Global CRISPR Technology 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.
Global CRISPR Technology Market Segments:
The global CRISPR technology market is further segmented –
By Product Type: Design Tools, Plasmid And Vector, Cas9 And G-RNA, Delivery System Products
By Application: Genome Editing/ Genetic Engineering, Genetically Modified Organisms, Agricultural Biotechnology, Others
By End-User: Industrial Biotech, Biological Research, Agricultural Research, Therapeutics And Drug Discovery
By Geography: The global CRISPR market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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https://www.thebusinessresearchcompany.com/report/CRISPR-technology-global-marketCRISPR Technology Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides CRISPR technology market overviews, analyzes and forecasts market size and growth for the global CRISPR technology market, CRISPR technology market share, CRISPR technology market players, CRISPR technology market segments and geographies, CRISPR technology market’s leading competitors’ revenues, profiles and market shares. The CRISPR technology market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.