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The growth of the market is attributed to growing availability of private and government funding coupled with increasing adoption of CRISPR technology
VANCOUVER, BRITISH COLUMBIA, CANADA, June 23, 2022 /EINPresswire.com / -- The global CRISPR Technology Market is projected to reach USD 3.94 billion by 2027, according to a recent report by Emergen Research. Certain factors that are driving the market growth include increasing government and personal funding, rising demand and adoption of CRISPR, and technological advancements.
The rise in funding, initiatives by the government to develop vaccines, medical technologies, drugs, devices are propellant towards the expansion of the genome editing market globally. As compared to previous systems, CRISPR has a lot of potentials and applications. Among these, one necessary application is that the use of CRISPR in understanding numerous genetic and epigenetic diseases as well as cancer. Study of cancer by the CRISPR system is usually done by 2 approaches i.e. turning on the growth suppressor genes and turning off the oncogenes. As per the precise capability of CRISPR, this method may also be used to make specific mutations in numerous cell lines so as to model the cancers. This sort of modeling may end up during a higher understanding of a range of diseases like cancer and therefore the ability to develop more effective medicine.
The latest market intelligence report provides business owners, stakeholders and field marketing executives' critical insights about the opportunities as well as strengths to help keep up with the dramatic shift in the consumer behavior and consumption power. The study methodologies used to examine the CRISPR Technology market for the forecast period. further classifies the industry by type, geography, end-use and end-user to add more precision and bring to light factors responsible for augmenting business development.
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The report also studies the key companies of the CRISPR Technology market along with analysis of their business strategies, M&A activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities. Some players analyzed in the report are:
Key Players Profiled in the Report are:
Origene Technologies, Inc., Agilent Technologies, Cellecta, Inc., GeneCopoeia, Inc., Integrated DNA Technologies (IDT), Horizon Discovery Group, Merck KGaA, New England Biolabs, Thermo Fisher Scientific and GenScript among others.
The study is a professional probe into the revenue generated and capacity estimates for the CRISPR Technology market for the forecast period 2020 - 2027 empower the business owners to maintain a competitive edge over their rivals. The research further examines and provides data on the market by type, application and geography interspersed with illustrations and other graphical representations. The market analysis not only determines the attractiveness of the industry but also the evolving challenges and opportunities and their association with the weaknesses and strengths of prominent market leaders. Other factors taken into consideration when studying the industry include profitability, manufacturing capability, distribution channels and industry cost structure and major success factors.
North American countries specially the US has always been a pioneer in the field of genome editing, majorly due to the favorable government initiatives and increase in funding. However, research and development has been immensely adopted by Asian countries like China and Japan which now possess a significant potential of the market share. Therefore, the Asia Pacific region is forecasted to grow at the highest CAGR of 25.3% throughout the forecasted period.
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For the purpose of this report, Emergen Research has segmented into the global CRISPR Technology Market on the basis of product type, application, end user type and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
Enzymes
Kits and Reagents
Guide RNA
Others
Applications Outlook (Revenue, USD Billion; 2017-2027)
Biomedical
Agricultural
Industrial
Others
End User Type Outlook (Revenue, USD Billion; 2017-2027)
Pharmaceutical and Biotechnology Companies
Academics and Government Research Institutes
Contract Research Organizations (CROs)
Others
Comprehensive Regional Analysis Covers the Following Regions:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The study dives deep into the profiles of top market players and their key financials. This comprehensive report is not only for business analysts and any existing and new entrant can use it when designing their business strategies. The research is one of its kind global analyses of aspects such as import and export status, supply chain management, profit and gross margin worldwide for the forecast period. Extensive coverage of statistics associated with recent events including acquisition and mergers and strengths and weaknesses of a company forms an important part of the study on the CRISPR Technology market.
Press Release
Some Key Highlights from the Report
Beam Therapeutics primarily owned by Feng Zhang started developing CRISPR officially declared in May 2018 because of which they were able to generate USD 87 million in series A funding. The main motive of the initiative was to utilize CRISPR technology in order to develop“precision genetic medicines”. This would further help to edit a single nucleotide base in the genome at one time.
In US, the first trial of CRISPR in humans began in April 2019. Two patients are currently being treated as a part of a study being conducted by University of Pennsylvania. In line with NPR (National Public Radio, America), each have different types of cancer that are tough to treat and each have relapsed normal treatments. As a part of the trial, researchers are taking immune cells from the patients' bodies and editing them with CRISPR after which they're putting them back. Such novel research are expected to drive the market growth throughout the region.
With different versions of CRISPR-Cas being pursued by different companies, the landscape of genome editing is changing with a variety of advantages associated with it. This is primarily due to major discoveries of nucleic acids coupled with their sensitivity and reliability in approach. Furthermore, this entire procedure eliminated the requirement of an expensive PCR platform.
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