CAS9 Technology Market Size To Expand at a Notable CAGR Of 11.30 % During 2018 - 2023

CAS9 Technology Market Size To Expand at a Notable CAGR Of 11.30 % During 2018 - 2023

Pune, India, January 2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global CAS9 Technology Market.


Overview:


The escalating demand for genome editing tools such as CAS9 is being encouraged as it is cheaper, quicker, and more precise than the previous techniques of editing DNA. The distinctive benefits that can be derived from the application of CAS9 technology in regards to genetic manipulation have spurred the development of the CAS9 technology market favorably. The market is projected to achieve an 11.30 % CAGR while earning revenues worth USD 3,505.3 Mn in the course of the forecast from 2018 to 2023. The biotechnology sector has increased in terms of valuation and awareness regarding biotechnology techniques which is expected to encourage overall market growth.


The intensifying investments in the CAS9 technology are estimated to provide a suitable driving force for the market to develop. The mounting number of applications for the CAS9 technology is spurring the further development of the market. The employment of technology in the agricultural industry and the human health sector including gene therapy, immunotherapy, drug discovery, and others is motivating the expansion of the CAS9 technology market positively. The effective transgenic research followed by the effortless screening and target validation are a few of the benefits related with the application of the CAS9 technology that are anticipated to contribute to the market growth. The rising occurrence of diseases such as cancer, hemophilia, and sickle cell anemia are projected to bolster the CAS9 technology market in the coming years. The progress observed in genetic engineering-based therapeutics is effectively opening new fields in the medical sector. Massive developments in the biotechnology sector across developing Asian economies are expected to create favorable opportunities. Furthermore, the government support for biotech research and development and foreign direct investment policies are expected to create new aspects for growth for the CAS9 technology market.


The growth of the market for CAS9 technology can be restricted due to the lack of knowledge about the technology and techniques along with the accompanying risk factors and the elevated cost of implementation of the Cas9 technology. Moreover, the undefined regulatory framework is estimated to create confusion in the implementation of the technology which will also present certain challenges to the growth of the market.

Segmental Analysis


The CAS9 technology market is segmented on the basis of product type, application, delivery method, end-user, and region. On the basis of product type, the CAS9 technology market is divided into vectors and consumables. Based on application, the CAS9 technology market is segmented into disease models, knockdown/activation, molecular diagnostics, genome engineering, in-vitro genetic depletion, and others. The segmentation of the CAS9 technology market on the basis of the delivery method comprises of viral delivery methods, physical delivery methods, and non-viral delivery methods. Based on end users the CAS9 technology market is segmented into academic and research institutes, biotechnology and pharmaceutical companies, contract research organizations, and others.


Detailed


Regional Analysis


 


The regional analysis of the CAS9 technology market comprises of regions such as Europe, the Americas, the Middle East, Asia Pacific, and Africa. The Americas is responsible for the principal regional market due to the growing biotechnology industry and the speedy implementation of progressive technologies such as CAS9. The Americas is anticipated to reach USD 1388.3 million by 2023 at a CAGR of 11.52% from 2018 to 2023. The European region is responsible for the next principal market share in 2017 owing to widespread CRISPR/CAS research in the biotechnology and pharmaceutical community followed by the growing awareness for the technology. Moreover, the CAS9 technology market in the European region is projected to attain USD 1123.5 million by 2023 from USD 580.5 million in 2017. The Asia Pacific region is anticipated to record a CAGR of 11.78% through the forecast period due to the intensifying demand for genome editing and genetic engineering applications. The Middle East and African region are projected to perceive a gradual growth due to limited exposure to healthcare services, lack of awareness, underprivileged economic conditions of the patient, strict government rules and regulations, and ethical issues arising from the use of this technique.


Competitive Analysis


The growth of the market contenders is reliant on government support, market conditions and industry development. The competitors in the market are principally focusing on the development of new products. The global companies are dominating the market, but the regional and foreign players with small market shares also have established a strong presence in the market. The market contenders are increasingly optimizing their strategies to provide cost-efficient and high-quality products, to continue and prosper in a strongly competitive market setting.


The prominent competitors in the CAS9 technology market are New England Biolabs, ABM Inc., Cellecta, Inc., CRISPR Therapeutic, GenScript, Danaher Corporation (Integrated DNA Technologies, Inc.), GE Healthcare, Thermo Fisher Scientific, OriGene Technologies, Inc. Takara Bio, Inc., Lonza Group, AstraZeneca, PLC, Merck KGaA, Intellia Therapeutics, Inc., and Bio-Rad Laboratories, Inc.


About Market Research Future:


At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.


MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.


In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.


Contact


Market Research Future


Office No. 528, Amanora Chambers


Magarpatta Road, Hadapsar,


Pune - 411028


Maharashtra, India


+1 646 845 9312


Email: sales@marketresearchfuture.com


 

Leading companies partner with us for data-driven Insights.
Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo

Contact us and avail customized purchase options to meet your research needs. Get your queries resolved from an industry expert. Enquire before Buy

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.