Gene Editing Tools Market is expected to grow at CAGR of 18% by 2029

Sales in the global Gene Editing Tools Market are slated to top US$ 481.3 Mn in 2022. Expanding at a healthy 18.8% CAGR, the market size is projected to total US$ 1.6 Bn by 2029.

“The usage of gene editing tools in personalized/specialized medicine and rising markets in emerging nations will be providing growth prospects for players functioning in the global gene editing tools market” states the FMI analyst.

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Important Highlights

India, China, and Japan, are the fastest growing markets amid the forecast period.

CRISPR-Cas9 products have emerged as potential tool for cancer therapy due to the high accuracy and efficiency of the gene editing technique.

Academic and research institutes accounts for the biggest market share throughout the forecast period trailed by biotech and pharmaceutical companies.

Drivers

Increasing levels of investments in R&D for scientific research and life sciences will boost the market expansion.

Increasing application areas for genome editing will be driving the demand.

Increasing effectiveness and efficiency of genome editing methods with the assistance of these tools will be driving the market growth.

Growing prevalence of long-term chronic illnesses, for instance, heart disease, Alzheimer’s, cancer, diabetes and several others ensuing in high demands for the market

Restraints

Complications related to patent dispute amid several companies identified in the market will be restricting the market growth

High cost associated with the genomic equipment is likely to challenge the growth of this market.

Competitive Landscape

Major players identified in the global gene editing tools market are ERS Genomics, Thermo Fisher Scientific Inc., GenScript Biotech Corporation, Editas Medicine, Merck KGaA, Takara Bio USA, Intellia Therapeutics, Inc., New England Biolabs, and CRISPR THERAPEUTICS. Most of the key regional players in the gene editing tools market are focusing on boosting their product connectivity and reach with the assistance of local distributors of gene editing tools.