Gene Editing Tools Market is estimated to have accounted for more than US$ 258 Mn in terms of value in 2018

The rising prevalence of cancer and other genetic
disorders, such as sickle cell disease, heart disease, diabetes, Alzheimer’s
disease, obesity, and others, is among the key factors impacting the growth of
gene editing tools market.

Cancer is registered to be the second most prominent
cause of death worldwide. According to the World Health Organization (WHO), the
number of deaths due to cancer worldwide in 2015 was 8.8 million. However,
cancer alone was responsible for an estimated 9.6 million deaths globally in
2018. Worldwide, approximately about 1 in 6 deaths occur owing to cancer. An
analysis states that approximately 70% of deaths due to cancer occur in low-
and middle-income countries. Thus, gene editing is most preferred for the management
of rare genetic disorders, which is driving the demand for gene editing, thus
generating a favourable revenue opportunity for gene editing tools.

According to latest research by FMI, the global gene editing tools market is estimated to have accounted for more than US$ 258 Mn in terms of value in 2018. The report on the gene editing tools market further projects that the gene editing tools market is likely to grow at a CAGR of over 18% during the period 2019-2029.

The growing prevalence and incidence of rare genetic
disorders, majorly Sickle Cell Disease (SKD), cancer, and Alzheimer’s disease,
is leading to the high demand for genome editing, and is one of the leading
factors that is contributing significantly to the growth of the gene editing
tools market. Moreover, gene editing tools, such as CRISPR, TALENs, and ZFNs,
find precise applications in the treatment of cancer. Owing to the high
efficiency and accuracy of the CRISPR-Cas9 gene editing technique, it has
emerged as a potential tool for cancer therapy. Among its various applications,
CRISPR-Cas9 has a high clinical potential to detect novel target genes for
cancer therapy.

Moreover, the introduction of technologically advanced
gene editing tools is expected to boost the growth of gene editing tools market.
Recent advancements in CRISPR gene editing tools and their ease of use have
generated significant interest in the biomedical community. Clustered Regularly
Interspaced Short Palindromic Repeats (CRISPR)-based gene editing has high
potential to cater to the therapeutic landscape of induced disorders, owing to
the presence of key players in the industry such as Intellia, CRISPR
Therapeutics, and Editas. CRISPR gene editing tools offer precise gene-targeted
treatments for β-thalassemia and SKD. Among gene editing tools, there are
potential applications for CRISPR in the gene editing tools market in human
therapeutics as well as veterinary therapeutics.

The Clustered Regularly Interspaced Short Palindromic
Repeats (CRISPR/Cas9) segment is a leading segment in terms of revenue by product
type in the gene editing tools market, and accounted for an approximate revenue
share of 75% in 2018. CRISPR/Cas9 gene editing tools are most widely used by
scientists to create transgenic animals that include zebrafish, pigs, mice,
rats, and primates. Among all the distribution channels in the gene editing
tools market, the academic and research institutes segment is expected to be most
prominent segment, followed by biotech and pharmaceutical companies.

The gene editing tools market has been analysed across the regions of North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa. North America, followed by Europe, is a prominent region in the global gene editing tools market. North America accounts for a revenue share of about 25.0% in 2018 in gene editing tools market. Europe accounting for the second-largest revenue share, and is followed by South Asia in the gene editing tools market. India, China, and Japan are among the emerging markets in the gene editing tools market. Japan is among the fastest-growing emerging markets in the global gene editing tools market, and is projected to grow at a CAGR of more than 6% during the forecast period of 2018-2028.

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The gene editing tools market report tracks some of
the key companies operating in gene editing tools market, such as Thermo Fisher
Scientific Inc., ERS Genomics, CRISPR THERAPEUTICS, Merck KGaA, Editas
Medicine, Takara Bio USA, New England Biolabs, Intellia Therapeutics, Inc., and
GenScript Biotech Corporation. Majority of the key regional players in the gene
editing tools market are focused on increasing their product reach and
connectivity with the help of domestic distributors of gene editing tools. Moreover,
the manufacturers of gene editing tools are focused to strengthening their
businesses in high-growth markets, such as India, Japan, China, and Argentina, by
expanding their sales and distribution channels across these countries.

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