ReportCrux Market Research has published a new report titled “Gene Therapy Market by Vector Type (Viral Vectors [Lentiviruses, Herpes Simplex Virus, Poxvirus, Adenoviruses, Retroviruses, Adeno-Associated Virus, Vaccinia Virus, and Others], and Non-Viral Vectors [Electroporation, Naked/Plasmid Vectors, Gene Gun, Lipofection, and Others); by Delivery Method (In-Vivo, and Ex-Vivo); by Application (Cardiovascular Diseases, Rare Diseases, Oncological Disorders, Neurological Disorders, Infectious Disease, and Other Diseases); and by Region: Global Industry Trends, Dynamics, Competitive Insights and Forecast Analysis, 2020 – 2027”.
How much is the Gene Therapy Market worth?
Gene therapy market was valued at approximately USD 1,420.3 Million in 2019 and is expected to generate revenue of around USD 9,254.5 Million by end of 2027, growing at a CAGR of around 26.4% between 2020 and 2027
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What Is Gene Therapy Market?
Gene therapy is the method in which a DNA is implanted into a patient for treatment of a medical disorder. Gene therapy is ideal for cancer treatment by breaking down a certain group of cells. Gene therapy ultimately has the ability to destroy cancer cells, remove genetic defects, and avoid cardiovascular disease.
A basic prerequisite for gene therapy is the accurate recognition of the disease-coding genes. Gene therapy accounts for a large share of the pipeline in the pharmaceutical industry, and this is expected to continue as drugs are becoming commercially available in the R&D process in the coming years. Kymriah and Yescarta’s notable approvals in 2017 have spurred these unprecedented developments in the gene therapy market.
What is the Scope of this report?
Rapid and substantial progress in the field of cellular and molecular biology, guided by technological developments in gene-editing and genomic techniques, has led to growing number of approved gene therapies as well as to the expansion of the pipelines. According to the Alliance for Regenerative Medicine (ARM), more than 700 clinical trials were under way at the end of the second quarter of 2019.
The gene and cell therapy industry is experiencing growing pressure for gene therapy buyouts with the recent drug approvals, resulting in high market premiums. Roche purchased, for example, Spark Therapeutics, a corporation that produces and provides gene therapies, in December 2019. The need for tailored care and rising recognition and acceptance among patients of personalized medicines is likely to further activate the global gene therapy industry further in the future. However, the need for an individual case-by-case approach and high treatment costs are likely hinder the global market for gene therapy within the estimated time frame.
Which segment accounted for the largest Gene Therapy Market share?
The global market for the gene therapy is segmented into vector type, application, delivery method, and region. Based on vector type, the global market for gene therapy is divided into viral vectors, and non-viral vectors. Viral vectors are further segmented into Lentiviruses, herpes simplex virus, poxvirus, adenoviruses, retroviruses, adeno-associated virus, vaccinia virus, and others. The non-viral vectors are further segmented into electroporation, naked/plasmid vectors, gene gun, lipofection, and others. From this, the viral segment accounted for almost 63% share of the market by vector type owing to its easy modifications high accuracy in delivering the gene to the region of interest.
On the basis of delivery methods, the market is categorized in-vivo, and ex-vivo. The ex-vivo segment is likely to grow at high CAGR in the forecast period. The growth in new gene therapy pipeline innovations was seen in 2018 as opposed to previous years. Thus, the number of drug launches, clinical trials, partnerships, and product innovations is growing, which is expected to provide a lucrative opportunity for the growth of the demand for gene therapy during the forecast period. In recent years, the number of applications for gene therapy has risen, including the treatment of numerous incurable and rare diseases like inherited genetic diseases, and cancer. With an increase in the number of compounds being studied through various clinical trials, the count is controlled by the trials designed to improve cancer therapies.
On the basis of application, the market is categorized into cardiovascular diseases, rare diseases, oncological disorders, neurological disorders, infectious disease, and other diseases. The oncological disorders segment held almost 35% share of the market in 2019 Owing to increased cancer incidence worldwide, and rising regulatory acceptance of gene therapy for cancer. However, the segment of cardiovascular diseases is projected to rise at a lucrative pace during the forecast period, due to an increase in the number of gene therapy clinical trials for treating these diseases.
Read more our Analysis: https://www.reportcrux.com/summary/4121/Gene-Therapy-Market
Which region is predicted to have the largest share in the Gene Therapy Market?
Based on regions, the market is bifurcated into Middle East & Africa, Europe, North America, Latin America, and Asia Pacific. North America held almost 39% share of the overall market owing to high disposable income, increasing cancer incidence, and increased support for gene therapy related R&D activities. Asia-Pacific, however, is projected to report the highest growth over the forecast period, owing to an increase in the number of people vulnerable to various chronic diseases. Additionally, the acceptance and introduction of gene therapy drugs will have a positive effect on the development of the market in developed countries like Australia, Japan, and New Zealand as major factors in the growth of the gene therapy industry.
Which are the prominent Key Players across the globe?
Some of the major players in gene therapy market are AnGes, Inc. (Japan), Amgen, Inc. (U.S.), Gilead Sciences, Inc. (U.S.), Alnylam Pharmaceuticals, Inc. (U.S.), Jazz Pharmaceuticals, Inc. (Ireland), Orchard Therapeutics Plc. (U.K.), Novartis AG (Switzerland), Spark Therapeutics, Inc. (U.S.), Sibiono GeneTech Co. Ltd. (China), MolMed S.p.A. (Italy), Dynavax Technologies (U.S.), Sarepta Therapeutics, Inc. (U.S.), Human Stem Cells Institute (Russia), and Akcea Therapeutics (U.S.) The growing interest of both private and public investors in gene therapy is expected to accelerate the market entry of new players. It is anticipated that well-established pharmaceutical companies will enter gene therapy to lead companies to adopt strategies like mergers and acquisitions.
Read Comprehensive Overview of Report: https://www.reportcrux.com/press-release/Gene-Therapy-Market
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