Gene therapy is the introduction of DNA into a patient to treat a genetic disease or a disorder. The newly inserted DNA contains a correcting gene to correct the effects of a disease, causing mutations. Gene therapy is a promising treatment for genetic diseases and also includes cystic fibrosis and muscular dystrophy. Gene therapy is a suitable treatment for infectious diseases, inherited disease and cancer. The growth of the gene therapy market is regulated due to various reason which includes the rapid involvement of synthetically modified gene to treat various diseases, it helps in designing the personalized medicine, rise in the research and development of the gene therapy among the others.
Gene Therapy Market: Key Players
The research study includes profiles of leading companies operating in the global gene therapy market. Key players profiled in the report include: Novartis AG, Spark Therapeutics LLC, Bluebird Bio, Gilead Sciences Inc., Celgene Corporation, GlaxoSmithKline, Sangamo Biosciences, Shire Plc, Voyager Therapeutics & Dimension Therapeutics.
Drivers for the Global Gene therapy Market:
Increasing incidence of cancer and rare life threatening diseases and strong clinical pipeline drugs for gene therapy are major drivers for market growth. However, the Competition among the leading pharmaceutical companies in the approval of gene therapy products is the factor boosting the market growth. Additionally, increasing investment of private and government organization in research and development of gene therapy will drives the market growth. Moreover, Increasing awareness about gene therapy and its applications is further boosting the growth of the gene therapy market.
Opportunities for the Global Gene therapy Market:
Improving regulatory scenario will boost the cancer gene therapy industry growth during analysis timeframe. Regulations are imposed on the manufacturers to ensure entry of defect free products (vectors) to the market since, they are directly associated with the health of individuals. Any defects in the gene therapy products could prove fatal for the patients hence, laws are amended such that no products are recalled during post-marketing surveillance. Therefore, increasing availability of superior quality cancer gene therapy will augment the cancer regenerative medicine market growth in the forthcoming years.
Restrains for the Global Gene therapy Market:
High cost of cancer gene therapy may create affordability issues thereby, restraining the cancer gene therapy market growth. People in emerging economies having low purchasing power would refrain themselves from purchasing expensive cancer gene therapy products. However, this factor would have mid-term impact on the cancer gene therapy industry growth and will vanish with an increase in the income level. Thus all these factors will hamper the market growth.
Region Wise, Global Gene therapy Market Analysis:
Report covers the region wise analysis, global gene therapy market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all, Europe leads the global gene therapy market share followed by North America & Asia Pacific. While the Europe leads the global gene therapy market due to the large number of aging population and technological advancement in the region. Moreover, the increasing government initiatives, rising economy and improvement in healthcare infrastructure in this region are boosting the growth of the market. Some of the key driving forces for gene therapy market are increasing R&D investment, large pool of patients and rising government funding are the factors fueling the growth of the market.
Global Gene therapy Market: Product analysis
- Adeno-associated viruses
- Retrovirus & Gamma retrovirus
- Modified Herpes Simplex Virus
- Non-viral Plasmid Vector
Global Gene therapy Market: Application analysis
- Acute Lymphoblastic Leukemia (ALL)
- Inherited Retinal Disease
- Large B-cell Lymphoma
- Melanoma (Lesions)
- Beta-Thalassemia Major/SCD
- Head & Neck Squamous Cell Carcinoma
- Peripheral Arterial Disease
- Spinal Muscular Atrophy (SMA)
Global Gene therapy Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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