November 26, 2019: Global & US Gene Therapy Market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Gene Therapy is a technique designed to introduce genetic material into cells to compensate for abnormal genes or to make a useful protein to prevent or treat genetic disease. It is also called as human gene transfer technique.
The factors that are playing a major role in the growth of Gene Therapy Market are growing occurrence of life-threatening and chronic disorders, increasing concentration to accelerate commercialization of gene therapy in developed nations. However, the high cost of gene therapy and strict regulatory laws and safety concerns are the factors restraining overall market growth in the years to come. Gene Therapy Market is segmented based on vectors type, approved gene therapy, application, and region.
Non-viral vectors and viral vectors are the vector’s type that could be explored in Gene Therapy in the forecast period. Non-viral vectors include a gene-activated matrix, naked DNA/plasmid vectors, liposomes, lipoplexes and polyplexes, and oligonucleotides. On the other hand, viral vectors comprise lentiviral vectors, adenoviral vectors, retroviral vectors, and adeno-associated virus vectors.
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Based on approval of Gene Therapy is segmented into Gendicine, Rexin-G, Oncorine, Neovasculgen, and Glybera. The market may be categorized based on applications like genetic diseases, oncology, neurological diseases, cardiovascular diseases, infectious diseases, and others could be explored in the forecast period. Gene Therapy Market is segmented geographically into Americas (North America, South America), Europe (Eastern Europe, Western Europe), Asia Pacific (India, China, Japan, New Zealand, and Australia), Middle East (UAE, Saudi, and Qatar) and Africa (South Africa).
Globally, North America may account for the significant market share of Gene Therapy and is estimated to lead the overall market in the years to come. The United States is projected to lead the overall market in terms of revenue. The reason behind the overall market growth could be the presence of key manufacturers in this region. Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period.
The key players of Gene Therapy Market are Sibiono GeneTech Co. Ltd., Spark Therapeutics, LLC, Shanghai Sunway Biotech Co. Ltd., ViroMed Co. Ltd. dba VM BioPharma, Human Stem Cells Institute, Advantagene Inc., UniQure N.V., Bluebird Bio, Genethon, Sanofi, Oxford BioMedica Plc, and Vical Inc. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition.
Gene therapy is one of the most widely researched fields in the healthcare industry. The high potential of gene therapy to cure various chronic diseases makes it a popular research area. Various researches are being performed across the globe to explore the potential of gene therapy for the treatment of incurable diseases, such as diabetes, cancer, and HIV amongst others.
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According to Radiant Insights new research report "Global & US Gene Therapy Market Forecast to 2020”, most of the gene therapy researches are being focused on finding the treatment for cancer, followed by genetic diseases and neurological disorders, respectively. In this context, the gene therapy application chapter of the report provides a comprehensive overview of various diseases in which the gene therapy is used, along with the current and future market size of gene therapy for particular disease and its geographical break up. Primarily, the gene therapy market is dominated by oncology applications, with several companies and academic institutions focusing on novel and ‘difficult to treat’ cancers. Other therapeutic areas seeking developments in gene therapy include monogenic diseases, cardiovascular diseases, infectious diseases, inherited blindness and neurological diseases. Furthermore, the chapter also provides details regarding the various aspects of the clinical trials in the different gene therapy application by phases, vector types, etc.
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 report also provides the sales of major marketed gene therapy products, and the list of the products in clinical/pre-clinical research along with their clinical phases.
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. The study highlights the applications for which the investments have been received.
North America continues to have the maximum number of clinical trials in the gene therapy segment. This is a major reason for the dominant position of North America in the gene therapy market. Based on the geography, the market is divided into four regions, namely, North America, Europe, Asia, and Rest of the World. The report provides the market for each of the geography, along with its forecast till 2020.
RNCOS, in its report, further covers how major trends and drivers, mainly gene silencing, advanced therapies combining gene therapy and stem cell technology, immunodeficiency syndromes, growing interest of venture capital firms, etc. will propel the industry’s growth. An analysis has also been done of a few factors limiting the growth of the industry. The report also provides insights regarding the strategies adopted by the players from 2013 to 2015 for enhancing their market share. Finally, with a view to understand the competitive landscape, the profiles of key market players have been included in the report to present a complete picture of the global gene therapy market.
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