Market Industry Reports (MIR) has published a new report titled “CRISPR Technology Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global CRISPR technology market was valued at over US$ 550.0 Mn in 2017 and is expected to grow at a double digit CAGR during the forecasted period.
The prominent players in the global CRISPR Technology market are Thermo Fisher Scientific, Inc., GenScript, Merck KGaA, GeneCopoeia, Inc., Integrated DNA Technologies, Inc., Transposagen Biopharmaceuticals, Inc., OriGene Technologies, Inc., New England Biolabs, Agilent Technologies, and Applied StemCell, Inc., among others.
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CRISPR or clustered regularly interspaced short palindromic repeats as it is called are a family of DNA sequences found within the genomes of prokaryotic organisms such as bacteria and archaea. These DNA sequences are derived from viruses that have previously infected the prokaryotic and are now being used to detect and destroy DNA from viruses during subsequent infections. The main component of CRISPR is an enzyme called Cas9 that is used as a guide to recognize and leave specific strands of DNA that are complementary to the CRISPR sequence. Cas9 combined with the CRISPR from the basis of technology known as CRISPR/Cas9 which is used to edit genes within organisms.
The CRISPR market is on a high growth rate due to various factors such as growing applications of genome editing, availability of government and private funding and the technological developments in the CRISPR/Cas9 methodology. However lack of skilled professionals and stringent regulatory norms regarding studies for the technology hinder the CRISPR market to some extent.
On the basis of geographic representation and use of technology, the CRISPR technology market is segmented into the regions of North America, Europe, Asia-Pacific regions and the Rest of the World (RoW). The North American market dominates as the largest share in the CRISPR technology market due to their growing research and advancements in the CRISPR technology space. However it should be noted that the Asia-Pacific regions are expected to have the highest CAGR with the primary growth areas expected to be China, India and Japan. Growing government support and increasing public awareness about CRISPR technology are some factors for the growth spike in the following areas.
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The global CRISPR technology market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). North America dominated the market of CRISPR technology, followed by Europe and Asia Pacific. North America will continue to dominate the global CRISPR technology market in the forecast period owing to factors such as growing research in the field of CRISPR technology and adoption of CRISPR technology. Moreover However, Asia Pacific is expected to witness the highest CAGR, with the growth in this market centered at China, India, and Japan. Factors such as the government support are driving the growth of the CRISPR technology market in this region.
Report holds answers to important questions :
1.What will the local and international competition for vendors operating in the CRISPR Technology Market look like during the forecast period, 2019 to 2030?
2.What impact will innovative technology and product substitutes have on the use of a service and product?
3.What are the trade barriers in the CRISPR Technology Market?
4.What are the important catalysts that will shape the preference of the customers during the forecast period, 2019 to 2030?
5.What will be the expected ROI (return on investment)? How much profit will the CRISPR Technology Market players make?
6.Which distribution trends and developments will continue to dominate the CRISPR Technology Market in the coming years?
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