CAS9 Technology Market Important Changes in Industry Dynamics by 2023
Posted by Akshay Solanki on February 11th, 2021
A strong commercial interest and rising application opportunities to boost the global CAS9 technology market in the forthcoming years. The market is projected to soar at a compound annual growth rate of 11.30% between 2018 and 2023.
Global CAS9 Technology Market – overview
The Global CAS9 Technology Market is growing with the rapid pace. According to a recent study report published by the Market Research Future, the Global CAS9 Technology Market is booming and expected to gain prominence over the forecast period and is projected to grow a sound pace. The market is projected to demonstrate a sound growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017-2022).
The global CAS9 technology market has been assessed as a rapidly growing market and it is expected that it will grow further in the future due to its high demand globally. It is expected to witness high growth as it is used in various process such as DNA sequence, DNA repair, gene library development, cell line engineering, and genetic engineering. It is used in treatment and other medical procedures like cancer, hepatitis B, gene therapy and more. Moreover increasing investment in the field of research and development by various companies for the development of the CAS9 technology is boosting growth of the CAS9 market further. It is also predicted that factors such as technological advancements in the field of genome editing will also drive the market growth in the coming future.
Global CAS9 Technology Market – competitive analysis
Characterized by the presence of several well-established and small players, the global market of CAS9 technology appears to be highly competitive and fragmented. International players are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers.
Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.
In October-16, CRISPR Therapeutics AG, a biopharmaceutical company focused on translating CRISPR/Cas9 gene-editing technology into transformative medicines, announced the pricing of its initial public offering of 4,000,000 common shares at a public offering price of USD 14.00 per share. In addition, CRISPR Therapeutics has granted the underwriters a 30-day option to purchase up to 600,000 additional common shares at the initial public offering price, less the underwriting discounts and commissions.
In May-16, Thermo Fisher completed its acquisition of Affymetrix for USD 14.00 per share in cash, for a total purchase price of approximately USD 1.3 billion. Completion of the transaction was followed by the approval of the merger agreement by Affymetrix stockholders at the special meeting.
In December-17, GenScript Biotech Corp., the leading global provider of gene synthesis services, announced that GenScript USA Inc., its wholly owned subsidiary, have entered into an agreement to acquire 100 percent of the issued shares of CustomArray, a privately held DNA microarray company that provides customized oligonucleotide pools and microarrays to many of the world’s leading academic and industrial organizations for applications in targeted sequencing, complex DNA libraries, synthetic biology, shRNA libraries, and CRISPR, from all of its shareholders.
Global CAS9 Technology Market – regional analysis
Depending on geographic region, CAS9 technology market is segmented into four key regions the Americas, Europe, Asia-Pacific, Middle East & Africa. Globally America is the largest market for CAS9 technology. North America is the leading market in America as countries like U.S. and Canada having strict regulation for manufacturing medical devices and giving medical services thus improving the quality of devices and technology. This results in improving the efficiency and quality of products, devices, technology and service offered by the healthcare industry in America. Europe is expected to be second largest market globally for CAS9 technology which is expected to sustain its growth in the coming future. Asia Pacific region is expected to be fastest growing region in CAS9 technology market.
Leading Key Players in CAS9 Technology Market are:
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About the AuthorAkshay Solanki
Joined: December 29th, 2020
Articles Posted: 475
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