Biotech Updates

CRISPR Global Market to Increase by 24.6% in 2022

March 2, 2022

The global CRISPR technology market is projected to increase from US$1,064.91 million in 2021 to US$1,327.27 million in 2022 at a compound annual growth rate (CAGR) of 24.6%. This is according to CRISPR Technology Global Market Report 2022 released by ReportLinker.

The CRISPR technology market includes sales of CRISPR gene editing products and services such as design tools, plasmid and vector, CAS9 and G-RNA and delivery system products. The technology allows researchers to edit portions of the genome by removing, inserting, or changing DNA sequences. CRISPR-Cas9 is used in genome editing, genetic engineering, industrial biotech, biological research, agricultural research, therapeutics, and drug discovery.

According to the report, the primary reason for the market expansion is the resumption of operations of the companies using CRISPR after recovering from the impact of COVID-19 pandemic. By 2026, the CRISPR technology market is expected to reach US$3,112.26 million at a CAGR of 23.7%. The use of CRISPR technology as a diagnostic tool is expected to boost the market, particularly for infectious diseases such as COVID-19.

Get the summary of the report from ReportLinker.

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