Investment and funding spur new product and application development
SANTA CLARA, California, Dec. 21, 2017 /PRNewswire/ -- Frost & Sullivan expects that multiple applications of Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) genome editing technology can generate almost $25 billion in revenue by 2030s. Various CRISPR/Cas9 systems are being developed as new diagnostic tools and others are being programmed to edit DNA at precise locations of genetic code. Frost & Sullivan Transformational Health's new analysis, Growth Insights on the Global CRISPR/Cas9 Tools Market, 2017, provides insights on existing and emerging growth opportunities in this exciting market.
Growth Insights on the Global CRISPR/Cas9 Tools Market, 2017:
- Analyzes various market segments and sub-segments, including agriculture, human therapeutics, research tools, and drug discovery activities.
- Identifies existing gaps in product and service offerings, disruptive technologies, and market and technology trends.
- Discusses the competitive and patent licensing landscapes.
Considering CRISPR's disruptive and game-changing applications, several large and small participants have invested in this domain. Similarly, funding from the National Institute of Health and other government agencies has led to significant growth in new product and application development, creating additional market and revenue growth opportunities in segments such as therapeutics and agriculture biotechnology. However, an ongoing patent war between the University of California and Broad Institute has negatively impacted the investment growth in this segment, as large investors stay on the sidelines wait for the outcome.
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"CRISPR has gained strong traction from the global research community because of its huge potential in diverse applications. Companies operating in CRISPR research tools for human therapeutics applications need to expand and strengthen their product portfolios because researchers typically prefer the single-vendor model to ensure compatibility across different products and tools," said Frost & Sullivan Transformational Healthcare Industry Analyst Piyush Bansal. "Considering this fact, the industry may witness a few mergers and acquisitions in the mid- to long- term."
Key trends in the global CRISPR tool market include:
- A Large number of partnerships and licensing activities with mid-sized and big companies looking to acquire their smaller counterparts to develop unique end-to-end products and solutions;
- Strong focus on therapeutics development over past two to three years with large pharmaceutical companies showing interest in using CRISPR for therapeutics development, drug discovery, and other research activities;
- Gene-edited agriculture products gaining popularity as sizeable agriculture companies, including Monsanto, DuPont and BASF, take initiatives to develop gene-editing crops and food products; and
- Favorable regulatory environment in both the drug discovery and agriculture biotechnology segments supporting market growth as well as new investments from existing participants and potential entrants.
"In addition, ethical considerations are important and can have legal and regulatory implications in the long term," noted Bansal. "Therefore, all industry participants need to create and adopt industry-wide application patterns and guidelines to avoid possibly large-scale negative implications."
Growth Insights on the Global CRISPR/Cas9 Tools Market, 2017 is part of Frost & Sullivan's Transformational Health Growth Partnership Program.
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Growth Insights on the Global CRISPR/Cas9 Tools Market, 2017
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