Growth of This Market is Expected to Be Driven By the Rising Availability of Funding and Growing Applications of CRISPR

Exhaustive secondary research was conducted to collect information on the market as well as its peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

The rise in the availability of government and private funding and the adoption of CRISPR technology are the key factors driving the growth of this market.

These factors are expected to drive the adoption of CRISPR technology in this segment. In drug discovery applications, CRISPR is used to develop more physiologically relevant models (cell lines and animal models) that correlate better to the clinical setting and thereby reduce drug candidate failures in the initial steps. The ability to modify endogenous genes can help to study the effect of drugs on targets along with endogenous proteins, rather than having to rely on overexpression.

This is attributed to the fact that the CRISPR technology is being adopted quickly by academics and researchers, pharma, and biotech companies. The enzymes segment is expected to account for the largest share of the product’s market, being one of the key ingredients in the CRISPR process.

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Developments in gene therapy, drug discovery, and diagnostics, due to the application of CRISPR, are driving the growth of this biomedical segment. Many companies have also invested in drug discovery and gene therapy companies that are using CRISPR technology.

The large share of CRISPR technology in this region is majorly attributed to the rising government and private funding, the presence of major pharma and gene therapy companies, and the adoption of CRISPR in a number of applications.

Some of the key players of CRISPR in this region are Cellecta, Inc. (US), Thermo Fisher (US), GeneCopoeia, Inc. (US), Applied StemCell (US), Synthego Corporation (US), OriGene Technologies (US), Horizon Discovery (UK), Merck (Germany), and GenScript (US).