Asia Pacific CRISPR in agriculture market is projected to grow at a significant CAGR of 23.6% during the forecast period. The growth of the region is attributed to the continuous R&D activities being implemented in the emerging economies of Asia-Pacific including India and China. The region has well-known agriculture research facilities for the development of effective and productive crops. In addition, the increased dependency of consumers on non-vegetarian foods such as red meat, poultry meat, and seafood, among other sources are also few of the factors contributing to the market growth in the region during the forecast period. Further, key countries of the region such as China, Japan and Malaysia are contributing significantly to the CRISPR in the agriculture market due to surging demand for aquaculture in countries.
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Moreover, the agriculture sector in Malaysia covers several sectors and has been identified and included by the Malaysian government as a key area of national development. For the aquaculture sector, Malaysia is ranked as one of the top 15 producers in the world, as the sector is rapidly emerging. Thus, the growth in the aquaculture demands advanced and innovative technologies which in turn fuels the demand for the market during the forecast period.
In addition, Malaysia, Thailand, and Australia among others are also among those countries that holds the significant share in the CRISPR in the agriculture market in Asia-Pacific, as there is a large aquaculture sector and consumers prefer more non-vegetarian food such as meat, fishes and other seafoods. For instance, Australia has undertaken the step for the approval of gene-editing technology CRISPR for developing breakthrough cures for a host of ailments and diseases. This new technology has spurred numerous labs across Australia into developing the next generation of medical breakthroughs. The government has approved the use of gene editing in the region, excluding SDN-1 technology. At last, CRISPR gene editing has been approved for plants, animals, and human cell lines. Thus, these regulatory approvals will provide growth opportunities for the market in the region.
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Asia-Pacific CRISPR in Agriculture Market- Segmentation
By End-User
- Academic & Research Institutes
- Biotech Companies
By Target Type
- Crops
- Livestock
- Aquaculture Driving and Sports
