Crispr Technology MarketSize and Trends

The global CRISPR technology market is experiencing strong growth due to the increase in disease burden and rising demand and adoption of CRISPR. Moreover, increasing government and private funding and technological advancements are expected to boost growth of the market. However, factors such as high costs of CRISPR and ethical concerns related to genetic research are expected to hinder growth of the CRISPR technology market.

The global CRISPR technology market is estimated to be valued at USD 3,642.1 Mn in 2024 and is expected to exhibit a CAGR of 19.2% during the forecast period (2024-2031).

Global CRISPR Technology Market Trends:

Growing adoption of CRISPR around the world is expected to propel the growth of the global CRISPR technology market. For instance, CRISPR technology help edit the gene by changing the DNA from the harmful variant to a healthy variant. This could potentially prevent or cure a genetic disease. In June 2021, QIAGEN launched QIAprep&amp CRISPR Kit and CRISPR Q-Primer Solutions that allow researchers to analyze edited genetic material with unparalleled speed and efficiency to determine how their interventions have changed function of the DNA sequence in question.

Technological advancements in CRISPR technology is expected to drive growth of the global CRISPR technology market. For instance, in December 2020, Scientists at UC Berkeley and Gladstone Institutes developed a new CRISPR-based COVID-19 diagnostic test that, with the help of a smartphone camera, can provide a positive or a negative result in 15 to 30 minutes, which can help doctors monitor the progression of a COVID-19 infection and estimate how contagious a patient might be.