The US CRISPR in agriculture market is expected to grow at a CAGR of 26.1% during the forecast period. The US is the leading market for CRISPR in agriculture in North America and the largest economy across the globe. The US is one of the leading countries in planting genetically modified crops, accounting for more than 40% of acres growing genetically modified crops across the globe. Increasing research funding in the field of CRISPR technology in the country is anticipated to be a major contributor to the growth of the CRISPR in the agriculture market in the country. USDA’s Animal and Plant Health Inspection Service, the Department of Health and Human Services’ Food and Drug Administration, and the US Environmental Protection Agency are the three federal agencies that are involved in ensuring that plants produced using biotechnology such as gene editing sequencing and the many products derived from them are safe for farmers to use, safe to consume as food or feed, and safe for the environment.
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The favorable government support in the US related to the use of technology in agriculture is again supporting the market growth. Approval for the adoption of CRISPR technology by the US government for corn in 2017 is among one of them. The US Department of Agriculture (USDA) is also in the process of liberalizing some more varieties of crops that are resistant to 2, 4-D and other herbicides.
According to the Federation of American Scientists, the National Institutes of Health (NIH, US) had funded almost $1.1 billion in R&D in 2018 respectively for the CRISPR-related research activities and projects. During the year 2014, the R&D funding was around $85 million, whereas in 2015 it was around $267 million, in 2016 it was $603 million, in 2017 it was $947 million, followed by $1.1 billion in 2018. CRISPR in agriculture offers several benefits related to crop yield and production thus, being a large exporter of the crop across the globe, the US is highly exploiting this technology to fulfill the growing demand for food across the globe.
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US CRISPR in Agriculture Market Segmentation
By End-User
· Academic & Research Institutes
· Biotech Companies
By Target Type
· Crops
· Livestock
· Aquaculture Driving and Sports
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
