Gene Therapy Market Global Industry Analysis and Growth By 2020 – Size, Share, Trends, Opportunities, Top 5 Key Players and Regional Forecast Up To 2026
Genes are genetic materials composed of deoxyribonucleic acid (DNA), responsible for producing proteins that have a key role in the optimal functioning of the body. The mutation of genes can lead to a genetic disorder in which proteins are made incorrectly. So for that, gene therapy is used to insert a healthy gene into damaged cells to make the protein of desire interest. Mutated gene result in the missing of important protein, but it can be treated with the help of gene therapy, faulty protein can be introduced to replace or restore the normal functioning of the protein.
Get Sample PDF Brochure with Impact of COVID19: https://www.coherentmarketinsights.com/insight/request-sample/1774
Gene therapy is a widely used technique for the study by researchers in order to develop treatment of various diseases such as HIV, Cancer, Parkinson’s disease, hemophilia and even immune deficiencies through various approaches. For instance, According to 2015, an article published in Journal Gene Technology and Resistance to Viruses has shown the future prospect of the bone marrow gene therapy for HIV treatment. Three primary approaches being practiced in the gene therapy are substituting a mutated gene with the healthier one, disabling a mutated gene that is functionally inappropriate and introducing a novel gene in the body to fight disease. Vectors are responsible for the insertion of a functional gene into the genome of individual tissues and cells in the gene therapy treatment and one of the most common vectors are viruses. The gene therapy treatment is gaining traction across various small and big companies this can be seen by an increased in the number of various successful startups, backed by financiers in line with giant companies, which have propelled the market growth.
Tailored Information as per niche requirement:
LIMITED TIME OFFER – Hurry Up!
Get Discount For Buyers UPTO 30% OFF On Any Research Report
Apply Promo Code “CMIFIRST1000” And Get Instant Discount Of USD 1000
Buy Now This Premium Report to Grow your Business @ https://www.coherentmarketinsights.com/insight/buy-now/1774
The growing demand for gene therapy is for treating hereditary disorder, HIV, cancer, and other chronic diseases. For instance, the 2018 American Cancer Society report showed cancer was responsible for 609,640 deaths in the U.S. Moreover, in 2017, WHO reported 1.0 million deaths were caused due to HIV-related illnesses worldwide. Increasing technological developments, innovations, and clinical and pre-clinical trials. For instance, According to a published article in 2014 Regenerative Medicine reports 4749 registries of clinical trials related to stem cell treatment. The rising prevalence of various other diseases is projected to increase the market size over the forecast period. Additionally, rising research and development funding by government agencies and commercial market players for the development of innovative, efficient, and safer gene therapy practices is further fueling market growth. For instance, the 2017 National Institutes of Health was funded US$ 1,644 million for stem cell research. Furthermore, growing awareness and community acceptance of gene therapy for various disease treatments is propelling the growth of the market.
On the other hand, concern regarding unethical use of gene therapy, unwanted immune responses, along with the high cost associated with the treatment is expected to hamper the market growth.
Based on the region, the global gene therapy market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. North America is dominating the overall market of gene therapy and this can be credited to the presence of a well-established healthcare sector, rising expenditure on healthcare coupled with the growing number of research and development programs in the region. For instance, in 2018, the U.S government approved US$ 3 billion, for The National Institutes of Health research funds. Additionally, the rising prevalence of cancer and various chronic diseases has also propelled the demand for gene therapy in North America. For instance, According to 2018 American Cancer Society report cancer was responsible for 609,640 cancer deaths in U.S. alone, so Furthermore, Asia Pacific is projected to witness significant growth in the global gene therapy manufacturing market in the near future, owing to rising number of vulnerable population to various chronic diseases and wide availability of innovative products offering better solutions to the patients at marginally lower costs. For instance, in 2017, a group of researchers led by the National Cancer Center Japan (NCC), together with Toray Industries, Inc. developed a new method that could detect thirteen different cancer types with a single drop of blood.
Key players operating in the global gene therapy market include GlaxoSmithKline plc, Bluebird Bio, Inc., Adaptimmune Therapeutics plc, Celgene Corporation, Shanghai Sunway Biotech Co. Ltd., Merck KGaA, Transgene SA, and OncoGenex Pharmaceuticals, Inc. These companies are conducting various clinical and pre-clinical developmental stages of gene therapies. Key players are engaged in developing new technologies and are focusing on collaborating with leading companies in order to retain their foothold in the global market. For instance, in 2017, the U.S. Food and Drug Administration (FDA) approved a gene therapy called Luxturna, developed by Spark Therapeuticsa Biotech Company based in Philadelphia.
Browse Research Report At: https://www.coherentmarketinsights.com/ongoing-insight/gene-therapy-market-1774
On the basis of gene therapy type, the global gene therapy market is segmented into:
- Germline Gene Therapy
- Somatic Gene Therapy
On the basis of type of vector, the global gene therapy market is segmented into:
- Viral Vector
- Non-viral Vector
On the basis of disease indication, the global gene therapy market is segmented into:
- Cardio Vascular Diseases
- Genetic Disorders
- Neuro Disorders
- Infectious Diseases
On the basis of geography, the global gene therapy market is segmented into:
- North America
- Latin America
- Asia Pacific
- Middle East
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.
To know more about us, please visit our website – www.coherentmarketinsights.com
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
- CDN Newswire