Gene Therapy market (Oncology, Cardiovascular, Infectious Diseases, Neurological) – Industry Analysis & Forecast to 2024, there by offering insights on key present growth indicators and forecast indicators such as drivers, restrains, opportunities and trends that are involved in shaping the market.
Gene Therapy Definition
Genes, carried on chromosomes, are the basic physical and functional units of heredity. Notably, gene therapy is the treatment of a disease by replacing, altering, or supplementing a gene that is absent or abnormal, and whose absence or abnormality is causing the disease.
Gene therapy is turning out to be an attractive market for the companies and investors. Furthermore, the market is incessantly gaining popularity amongst the global medical community. The advent of advanced technique for gene transfer has enabled the usage of gene therapy for various new applications. The majority of the gene therapy products are in pre-clinical or clinical research. Till date, there are only four marketed drugs namely, Glybera, Neovasculogen, Gendicine, Rexin-G, and Oncorine. However, these products constitute very less revenue to the Gene Therapy Market. The major revenue of the gene therapy market is generated from the products used in the clinical trials.
Major Player: Human Gene Therapy Market
Market Growth Influencer
Human gene therapy is a high growth market. The growth of the market is majorly driven by the unavailability of cure for various chronic diseases especially cancer. The medical community is striving to development a proper treatment for cancer through gene therapy. Furthermore, the market is witnessing a precipitous rise in the venture capitalist investments. For instance, recently, Philadelphia based Gene Therapy Company, Spark Therapeutics, raised US$ 72.8 Million from Sofinnova Ventures to launch a gene therapy for genetic form of blindness. Moreover, there is also an increasing incidences of chronic diseases across the globe which is another factor propelling the market growth.
However, stringent regulatory approval process for gene therapy and the high cost of the gene therapy drugs are expected to hinder the growth of the market. The cost of gene therapy is approximately 1 million. Moreover, the reimbursement scenario of gene therapy is also not well defined due to which people refrain from opting for this therapy.
Human Gene Therapy Market: Segmentation
For this study, the Human Gene Therapy Market is segmented into various segments such as commercialized therapies, product type, indication, and region.
On the basis of Commercialized Therapies, the market is segmented into
On the basis of Product Type, the market is subdivided into
On the basis of Indication, the market is categorized into
Human Gene Therapy Market: Regional Analysis
On the basis of region, the human gene therapy market is segmented into four regions, namely, North America, Europe, Asia-Pacific, and Rest of the World.
North America: Human Gene Therapy Market
North America is the largest market for Human Gene Therapy. The USA, was the first country to begin gene therapy clinical trials across the world. The National Institutes of Health (NIH) of the US is playing an important part, as it compiles a database for all completed or ongoing gene therapy trials, and act as a primary source of information for trials performed in the USA.
The North American market is expected to witness a high growth due to rising venture capitalist investments, collaborations between the companies for developing new products, and initiation of new gene therapy researches in the region.
Europe: Human Gene Therapy Market
Europe is the second largest market for gene therapy. The major reason for this high share of the European market is the large number of clinical trials for gene therapy being performed in the region. Furthermore, considering the growing demand of products for gene therapy, the leading players are endeavouring to develop and launch new and innovative products in the market. For instance, in July 2015, AGTC, a clinical-stage biotechnology company, collaborated with Biogen to develop gene-based therapies for multiple ophthalmic diseases.
Asia-Pacific: Human Gene Therapy Market
Asia-Pacific region is slated to witness the highest growth in coming years. China was the first country to commercialize gene therapy in the year 2003. The region is still engaged in various researches to develop improved and cost effective gene therapies.
Market Research Future introduces about the Human Gene Therapy market (Oncology, Cardiovascular, Infectious Diseases, Neurological) – Global Industry Analysis & Forecast to 2027 which mainly includes the growth drivers, trends and restraints and how the market will grow in the future across the globe. In this report, Market Research Future has focused on the current market scenario which includes market segmentation, market dynamics, and competitive landscape along with company profiles.
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