CRISPR Market

CRISPR Market Size, Share & Trends

The global CRISPR market in terms of revenue was estimated to be worth $3.4 billion in 2023 and is poised to reach $7.1 billion by 2028, growing at a CAGR of 15.6% from 2023 to 2028. The comprehensive research encompasses an exhaustive examination of industry trends, meticulous pricing analysis, patent scrutiny, insights derived from conferences and webinars, identification of key stakeholders, and a nuanced understanding of market purchasing dynamics.

The key factors driving the growth of the global CRISPR market are growing demand for CRISPR-based gene therapies, growing advancements of CRISPR technology, and growing investment and funding from the government for CRISPR technology. However, the technical challenges associated with CRISPR technology are expected to restrain market growth to a certain extent.

CRISPR Market Trends

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CRISPR Market Dynamics

DRIVER: Growing Investment and Funding from the Government for CRISPR Technology

In recent years, there has been a notable increase in investment and funding from governments worldwide specifically directed towards CRISPR technology. This has created a conducive environment for research and development in the field, enabling breakthrough discoveries and propelling the market forward. For instance, in February 2023, Indian biotechnology start-up CrisprBits has raised $250,000 in pre-seed funding from US-based VJ Group. The funding will be used to develop products, expand the team and invest in research and development. CrisprBits plans to develop CRISPR-based diagnostics to detect pathogens and antimicrobial resistance genes.

RESTRAINT: Technical challenges associated with CRISPR technology

Technical challenges associated with CRISPR technology present a significant restraint in the field of gene editing. While CRISPR holds immense potential, certain obstacles hinder its widespread implementation. These challenges arise from the complexities involved in precise genome editing, off-target effects, and delivery efficiency. Addressing these technical hurdles is crucial for harnessing the full potential of CRISPR technology and realizing its transformative impact in various industries.

OPPORTUNITY: Development of new vaccine and treatment of genetic diseases

The development of new vaccines and treatments for genetic diseases using CRISPR technology presents a transformative opportunity in the field of healthcare. CRISPR's precise gene editing capabilities hold immense potential in combating infectious diseases and addressing the underlying genetic causes of various disorders. This opportunity not only promises innovative approaches to prevent and treat diseases but also revolutionizes the way we approach healthcare interventions. For instance, Editas Medicine is conducting a phase 1/2 trial for individuals with severe sickle cell disease (SCD) but using a CRISPR system with a Cas12a protein rather than the more famous Cas9 protein. Moreover, Vertex Pharmaceuticals and CRISPR Therapeutics are working together on Beta-thalassemia. The clinical trial is in its second phase.

CHALLENGE: Regulatory Hurdles for CRISPR Advancements

Regulatory hurdles pose significant challenges in the field of CRISPR technology, impacting its widespread adoption and market growth. As a revolutionary gene editing tool, CRISPR holds immense potential but faces regulatory complexities due to ethical concerns, safety considerations, and the need for comprehensive guidelines. Addressing these regulatory challenges is crucial for fostering innovation, ensuring patient safety, and unlocking the full potential of CRISPR technology.

CRISPR Market Ecosystem

Prominent companies in the market include well established, financially stable manufacturers of CRISPR products. These companies have been operating in the market for several years and possess diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks. Prominent companies in this market include Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Genscript Biotech Corporation (China), CRISPR Therapeutics AG (Switzerland), Editas Medicine (US), Intellia Therapeutics, Inc. (US), Beam Therapeutics Inc. (US), Caribou Biosciences, Inc. (US),  Lonza Group, Ltd. (Switzerland), Danaher Corporation (US), PerkinElmer, Inc. (US), Hera Biolabs (US), OriGene Technologies, Inc. (US), Cellecta, Inc. (US), Mammoth Biosciences, Inc. (US), Applied StemCell (US), New England Biolabs Inc. (US), ToolGen Inc. (South Korea), GeneCopoeia, Inc.  (US), Twist Bioscience Corporation (US), Synthego Corporation (US), eGenesis (US), Inscripta, Inc. (US), and Precision BioSciences, Inc. (US).

The product segment accounted for the largest share of the product & services segment in CRISPR industry in 2023.

Based on products, the CRISPR market is categorized into products and services. In 2023, the products segment accounted for the largest share of the CRISPR market. The major driver propelling the demand for CRISPR products is the significant progress made in gene editing technology. CRISPR's high precision, efficiency, and cost-effectiveness have revolutionized genetic research and opened new avenues for therapeutic development.

The pharmaceutical & biotechnology companies segment dominated the end user segment in CRISPR industry in 2023.

Based on the end user, the segment of the CRISPR market is categorized into pharmaceutical & biotechnology companies, academic & research institutes, and other end users. In 2023, the pharmaceutical & biotechnology companies segment dominated the technology segment with the highest revenue share. The growing demand for innovative and targeted therapies is a major driver for pharmaceutical and biotechnology companies in the CRISPR market. CRISPR technology enables precise gene editing, offering the potential to develop personalized medicines for genetic diseases.

North America was the largest market for CRISPR industry in 2023.

Geographically, the CRISPR market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East Africa. The CRISPR market is dominated by North America in 2023 and this dominance is anticipated to continue throughout the forecast period. The established research infrastructure, technological advancements, demand for precision medicine, supportive regulatory environment, robust biotechnology and healthcare industry, and availability of funding and investment drive the growth of the CRISPR market in North America. However, the high cost associated with CRISPR research and products, which can limit the adoption of these products for some end users, especially smaller research institutions with limited budgets are negatively impacting the market growth.

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The prominent players in the CRISPR market are Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Genscript Biotech Corporation (China), CRISPR Therapeutics AG (Switzerland), Editas Medicine (US), Intellia Therapeutics, Inc. (US), Beam Therapeutics Inc. (US), Caribou Biosciences, Inc. (US),  Lonza Group, Ltd. (Switzerland), Danaher Corporation (US), PerkinElmer, Inc. (US), Hera Biolabs (US), OriGene Technologies, Inc. (US), Cellecta, Inc. (US), Mammoth Biosciences, Inc. (US), Applied StemCell (US), New England Biolabs Inc. (US), ToolGen Inc. (South Korea), GeneCopoeia, Inc.  (US), Twist Bioscience Corporation (US), Synthego Corporation (US), eGenesis (US), Inscripta, Inc. (US), and Precision BioSciences, Inc. (US).

Scope of the CRISPR Industry

This report categorizes the CRISPR market to forecast revenue and analyze trends in each of the following submarkets:

By Product & Services

• Products
  • CRISPR kits & Enzymes
  • CRISPR Libraries
  • Other Products (design tools, antibodies, other reagents)
• Services
  • gRNA Design & Vector Construction
  • Cell Line Engineering
  • Screening Services
  • Other Services (Epigenome Editing and Transcriptional Activation)

By Application

• Drug discovery & development
• Agriculture
• Other applications (biofuels, veterinary)

By End User

• Pharmaceutical & biotechnology companies
• Academic & research institutes
• Others (CROs & CDMOs)

By Region

• North America

• US
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Rest of Europe (RoE)

• Asia Pacific (APAC)

• Japan
• India
• China
• Rest of Asia Pacific (RoAPAC)

• Latin America
  • Brazil
  • RoLATAM
• Middle East Africa

Recent Developments

• In May 2023, Thermo Fisher Scientific opens cell therapy facility at UCSF to accelerate development of breakthrough therapies.  Thermo Fisher Scientific Inc. and the University of California, San Francisco accelerated advanced cell therapies for difficult to treat conditions, including cancer, rare diseases, and other illnesses, from a newly opened cGMP manufacturing facility adjacent to UCSF Medical Center’s Mission Bay campus.
• In April 2022, Thermo Fisher Scientific Inc. launched the new GMP-manufactured Gibco CTS TrueCut Cas9 Protein to support genome editing for research and manufacturing applications, including CAR T-cell therapy research.
• In November 2021, GenScript announced today that it has launched the GenWand Double-Stranded DNA (dsDNA) Service for the manufacture of CRISPR knock-in homology- directed repair (HDR) templates in T cell engineering.
• In October 2020, Merck announced that it signed agreements licensing its CRISPR technology to two companies PanCELLa, a cell therapy firm based in Toronto, Canada and Takara Bio USA, Inc., a biotechnology company based in Mountain View, California, USA.

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