The global CRISPR technology market is estimated to be valued at US$2,251.2 million in 2021 and is expected to exhibit a CAGR of 19.2% over the forecast period 2022-2028, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) technology is a powerful gene-editing tool that enables scientists to selectively modify genes within an organism. It has a wide range of applications in therapeutics, research, and agriculture. The technology has revolutionized the field of gene editing and offers immense potential in treating genetic disorders, developing new drugs, and improving crop yield. With the increasing focus on precision medicine and personalized therapies, the demand for CRISPR technology is expected to surge in the coming years.
Key Takeaways:
The global CRISPR technology market is expected to witness high growth, exhibiting a CAGR of 19.2% over the forecast period. This growth is driven by the increasing demand for efficient gene editing tools in various research applications.
Regionally, North America is expected to be the fastest-growing and dominating region in the CRISPR technology market. This can be attributed to the presence of major players in the region, technological advancements, and government support for genomics research.
Key players operating in the CRISPR technology market include Merck KGaA, Thermo Fisher Scientific, Origene Technologies, Inc., New England Biolabs, GenScript, GeneCopoeia, Inc., Cellecta, Inc., Agilent Technologies, Inc., PerkinElmer, Inc., and Danaher Corporation. These companies play a significant role in driving innovation, developing new products, and expanding their market presence.
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