Research Nester released a report titled “CRISPR and CAS Gene Technology Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global CRISPR and CAS gene technology market in terms of market segmentation by products & services, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global CRISPR and CAS gene technology marketis projected to grow with a high CAGR during the forecast period, i.e., 2022-2030, on account of the growing number of applications of CRISPR and CAS gene technology and rising government and private expenditure regarding technological medical research. As per research conducted by the National Cancer Institute of U.S., CRISPR and CAS gene technology may be used in cancer immunotherapies, as proved from a clinical trial conducted in 2019 at the University of Pennsylvania in which patients’ immune cells were modified genetically to destroy their cancer.
The market is segmented by products & services and application. Based on products & services, the services segment is anticipated to hold the largest share during the forecast period as the technology is gaining worldwide recognition for its usage in genome editing in view of its simplicity and efficiency.
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On the basis of region, the global CRISPR and CAS gene technology market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, Asia Pacific is projected to grow at the highest CAGR throughout the forecast period, which can be credited to the increasing government & private investments in CRISPR and CAS gene technology in the region. Furthermore, the market in North America is predicted to occupy the largest share ascribing to the presence of leading pharma and biotech organizations in the region, who are extensively involved in the research and development for innovative gene technology procedures.
Growing Applications of CRISPR and CAS Gene Technology to Drive Market Growth
CRISPR and CAS gene technology has enabled efficient and targeted genome modification in many species that have been unmanageable using traditional genetic manipulation techniques. It has been estimated that this can help in creating a huge impact in editing plant genomes thereby facilitating several beneficial agricultural applications, which is considered to be major factor driving growth in the region.
However, pending patent issues and outcomes of clinical trials of the technology is estimated to restrain market growth in the near future.
This report also provides the existing competitive scenario of some of the key players of the global CRISPR and CAS gene technology marketwhich includes company profiling of Thermo Fisher Scientific Inc., Origene Technologies, Addgene, Inc., Merck KGaA, GenScript Biotech, Cellecta, Inc., Caribou Biosciences, Inc., Horizon Discovery Group, Mammoth Biosciences Inc., Inscripta, Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global CRISPR and CAS gene technology marketthat will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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