In a recent published report, Kenneth Research has updated the market report for CRISPR Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for CRISPR Market products.
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According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.
Clustered regularly-interspaced short palindromic repeats also known as CRISPR is a gene editing tool. CRIPSR commercialization began in 2012 with emergence of number of startups and venture capitalists and showing their interest in infusing money into this technology. Academic and research firms are the main consumers of CRISPR gene editing tool followed by biotechnology companies. The number of patents for CRISPR is outclassing the patents of other gene editing tools such as ZFN and TALEN. The market is driven by high demand for plasmids, synthetic genes and high quality gene slicing techniques. Growing drug discovery, biotechnology and proteomics markets are also driving the market growth.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The market is This is driven by the fact that CRISPR is a new technology which is simple, more efficient and cost effective as compared to its peers. High adoption both in biotech and pharma industry along with high level of research is also responsible for high growth rate.
The market for CRISPR technology is niche. The number of companies are still very less and most of the companies are start-ups which are going through rounds of funding. Some of the major companies include Editas, Intellia, Sigma Eldrich, Oregene, Gene Script, Thermo Fisher Scientific and others. Most of the companies are working on developing CRISPR products along with the approval and commercialization of such products. These companies have successfully attracted major investments from big VC firms and companies such as Google and DuPont. These companies are relying on the disruptive nature of the technology. CRISPR has the capability to open new markets for gene surgery and genetically modified organisms. However, there are major concerns from the scientific community regarding the misuse of such technology in human cloning. Geographically North America leads the market race followed by Europe and Asia Pacific.
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Companies profiled include:
1. Thermo Fisher Scientific
2. Editas Medicine
3. Caribou Biosciences
4. CRISPR therapeutics
7. Horizon discovery PLC
8. Sigma Aldrich
9. Precision biosciences
11. Sangamo Biosciences Inc.
12. Lonza group limited
13. Integrated DNA technologies
14. New England Biolabs
15. Oregene Technologies
16. Transposgen Biopharmaceuticals
This Research report covers
1. Historical data
2. Revenue forecasts, growth rates and CAGR up to 2028
3. Industry Analysis
4. Competitive Analysis
5. Key geographic growth data
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Key Answers Captured in Report?
- Which geography would have better demand for products/services?
- What are the strategies adopted by big players in the regional market?
- Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
- What is the current & expected market size in the next five years?
- What is the market feasibility for long term investment?
- What opportunity the country would offer for existing and new players in the market?
- What is the risk involved for suppliers in the geography?
- What factors would drive the demand for the product/service in the near future?
- What is the impact analysis of various factors in market growth?
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