Transforming Global Markets and Our Future
“CRISPR is a gene-editing tool that makes precise DNA changes, advancing drug development, crop improvement, and disease research. It opens new business opportunities and offers solutions for genetic diseases and sustainable agriculture.“
BOSTON, Jan. 2, 2025 /PRNewswire/ — According to the latest study from BCC Research, the demand for CRISPR Technology: Global Markets was valued at $3.4 billion in 2023. This market is expected to grow from $3.8 billion in 2024 to $7.5 billion by the end of 2029 at a compound annual growth rate (CAGR) of 14.4% from 2024 to 2029.
This report on CRISPR technology offers market predictions through 2029, examining how CRISPR is used across different fields like drug development, agriculture and diagnostics. It also looks at the users of CRISPR, including biotech and pharmaceutical companies, universities, government research institutes, and contract research organizations.
Interesting facts:
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With Casegvy’s approval in late 2023, the CRISPR market is set to grow, particularly in drug development for genetic and chronic diseases. Biotech and pharma companies are driving this growth, supported by collaborations and rising private funding for innovation and expanded CRISPR use.
Factors contributing to the market’s growth include:
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Rising incidence of chronic diseases: The rise in chronic diseases like diabetes, heart disease, and arthritis is due to factors such as poor diet, lack of exercise, smoking, and longer lifespans. This increase is driving a greater demand for better healthcare to manage these long-term conditions.
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High prevalence of genetic disorders: The prevalence of genetic disorders, caused by changes in DNA, means that more people require specialized medical care. These disorders can be inherited or occur spontaneously.
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Government and private funding.: Government and private funding support R&D across various fields, driving innovation and progress. This financial support is crucial for achieving breakthroughs in areas like healthcare and technology.
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Report Synopsis
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Report Metric |
Details |
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Base year considered |
2023 |
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Forecast period considered |
2024-2029 |
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Base year market size |
$3.4 billion |
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Market size forecast |
$7.5 billion |
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Growth rate |
CAGR of 14.4% from 2024 to 2029 |
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Segments covered |
Application, End User, and Region |
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Regions covered |
North America, Europe, Asia-Pacific and |
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Countries covered |
U.S., Canada, Germany, United Kingdom, |
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Market drivers |
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This report addresses the following key questions:
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