Global CRISPR technology market is valued at USD449.6 million in 2017 and is
projected to grow by over 25% in 2018 to 2025, according to the market
trends report of All Market Insights. The growing adoption of CRISPR
technology is attributed to the increasing funding support granted by
governments and private institutions to this promising technology. According
to the Congressional Research Service (U.S.), the National Institutes of
Health increased their research funding on CRISPR-related research from
US$5.1 million in 2011 to $603 million in 2016. NIH confirmed this increase
in CRISPR support when they reported that their funding for CRISPR research
reached approximately US$981 million from 2006 to 2016.
The report also highlighted that the key regions in the CRISPR technology
market are North America, Europe, Asia Pacific, and Latin America. The main
reasons for North America's dominance in the market are increasing
government and private funding; the adoption of CRISPR in biomedical,
agricultural and industrial applications; and the presence of major
pharmaceutical and gene therapy countries in the region.