Gene therapy is an experimental technique that uses genes to treat or prevent disease. In the future, this technique may allow doctors to treat a disorder by inserting a gene into a patient’s cells instead of using drugs or surgery. Researchers are testing several approaches to gene therapy, including. Gene therapy is designed to introduce genetic material into cells to compensate for abnormal genes or to make a beneficial protein. If a mutated gene causes a necessary protein to be faulty or missing, gene therapy may be able to introduce a normal copy of the gene to restore the function of the protein.
The Global Gene Therapy Market is expected to reach USD 3928.86 Million by 2025, from USD 855 Million in 2017 growing at a CAGR of 21.5% during the forecast period of 2018 to 2025. Gene therapy progress aims to cure rare diseases and some hereditary diseases caused by a mutated or faulty gene. Moreover, ever-increasing need for new cures for orphan diseases and rising incidence of cancer caused due to mutations in genes are likely to stir up the demand for gene therapy.
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- Based on vector type, the market is segmented into viral vector and non-viral vector. Where, viral vector is the largest contributor toward the market growth. Non-viral vector is expected to be a worthwhile market due to the technological expansion with positive consequences for gene therapies during preclinical and clinical trials to cure various diseases.
- The global gene therapy market is segmented based on vector type, application, end users and geographical segments.
- Based on application, the market is segmented into oncological disorders, rare diseases, cardiovascular diseases, neurological disorders, infectious disease, and other diseases. Viral Oncological disorders are the largest contributor toward the market growth owing to the high prevalence of cancer worldwide and availability of regulatory approved gene therapy for cancer. However, cardiovascular diseases are anticipated to be a lucrative market due to the large number of clinical trials of gene therapy for the treatment of these diseases.
- Based on end users, the market is segmented into pharmaceutical companies, research institutions and others. The major part of the revenue of gene therapy market is generated from research phase. Most of the gene therapy products are in research phases, only few products have been commercialized till date. The companies operating in the gene therapy market are also receiving various funding, grants, and investment from government bodies and venture capitalist firms which are aiding them to develop new products.
- Based on gene type, the market is segmented into Antigen, Cytokine, Tumor Suppressor, Suicide, Deficiency, Growth Factors, Receptors, and Others. Where, antigen rules the overall market comprising for two-ninths of the total share in 2016.
Key Developments in the Market:
- In 2015, Amgen (US) got approval of ‘Imlygic’ in Europe and United State to treat melanoma.
- In 2016, GlaxoSmithKline (UK) got drug “Strimvelis” approved by European drug regulatory authority for the treatment of ADA-SCID.
Global Gene Therapy Market is a professional and in depth market report that focuses on primary and secondary drivers, market share, possible sales volume, leading segments and geographical analysis of ABC industry. It shows that the rise in market value is generally attributed to the rising growth of the applicable industries and the subsequent rise in demand of applications. The Global Gene Therapy Market analysis gives an examination of various segments that are relied upon to witness the quickest growth amid the approximate forecast frame. The competitive landscape section of the Global Gene Therapy Market report brings into light a clear insight about the market share analysis of major industry players.
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Major Market Competitors/Players:
Some of the major players operating in the global gene therapy market are Voyager Therapeutics, Human Stem Cell Institute, Bristol Myer’s Squibb, Chiesi Farmaceutici S.p.A., Adaptimmune Therapeutics plc, Advantagene, Epeius Biotechnologies, Abeona Therapeutics,Novartis, Kite Pharma, Inc., GlaxoSmithKline PLC, Spark Therapeutics Inc., Bluebird bio Inc., Genethon, Transgene SA, Applied Genetic Technologies Corporation, Oxford BioMedica, and NewLink Genetics Corp, UniQure N.V, Juno Therapeutics, Celgene Corporation, Shire Plc, Sangamo Biosciences, Dimension Therapeutics,
Competitive Analysis: Global Gene Therapy Market
The global gene therapy market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of absorbable and non-absorbable sutures market for global, Europe, North America, Asia Pacific and South America.
Reasons to Purchase this Report
- Current and future of the global gene therapy market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
- Regions/countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
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