(PharmaNewsWire.Com, August 11, 2020 ) The rise in the availability of government and private funding and the adoption of CRISPR technology are the key factors driving the growth of CRISPR Technology market.
According to the research report – “[163 Pages Report] The CRISPR Technology market is expected to grow from USD 562 million in 2018 to USD 1,715 million by 2023, at a CAGR of 25% during the forecast period.”
The study involved four major activities in estimating the current market size for CRISPR technology. Exhaustive secondary research was conducted to collect information on the market as well as its peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources such as Hoovers, Bloomberg BusinessWeek, Forbes, and Dun & Bradstreet were referred to, to identify and collect information useful for a technical, market-oriented, and commercial study of the market. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, food safety organizations, regulatory bodies, trade directories, and databases. Secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, market classification, and segmentation, according to the industry trends to the bottom-most level and regional markets. It was also used to obtain information about the key developments from a market-oriented perspective.
In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the market. The primary sources from the demand side include scientists/researchers from academic & research institutes and government & private laboratories.
After the market engineering process was completed (which includes calculations for market statistics, market size estimations, market forecasting, and data triangulation), extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. Primary research was also conducted to identify market segmentation; key players; the competitive landscape of market players; and key dynamics of global CRISPR technology industry such as drivers, restraints, opportunities, challenges, industry trends, and key player strategies.
Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the total size of the CRISPR technology market. These approaches were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
The products used for CRISPR were identified through secondary research, and their market shares in the respective segments were determined through primary and secondary research. The procedure included the study of the annual and financial reports of top market players and extensive interviews with industry leaders such as CEOs, VPs, directors, and marketing executives for key insights. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The above-mentioned data is consolidated and added with detailed inputs and analysis from MarketsandMarkets and presented in this report.
In March 2018, Danaher acquired Integrated DNA Technologies to expand its Genomics portfolio. In September 2017, Horizon Discovery acquired Dharmacon, Inc. from GE Healthcare (US) for USD 85 million. Between 2017 and 2018, Merck has secured patents in Australia, Canada, Europe, Israel, Singapore, South Korea, and China, covering foundational CRISPR technology, for its in-house CRISPR technology.
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