Gene Therapy Market Trends Estimates High Demand with Key Players laxoSmithKline, Bluebird Bio, Adaptimmune Therapeutics

Based on application, it is categorized into oncological disorders, rare diseases, cardiovascular diseases, neurological disorders, infectious disease, and other diseases. Viral Oncological disorders is the largest contributor toward the market growth owing to the high prevalence of cancer worldwide and availability of regulatory approved gene therapy for cancer. However, cardiovascular diseases is anticipated to be a lucrative market due to the large number of clinical trials of gene therapy for the treatment of these diseases.

Global Gene Therapy Market: Key Geographic Segment

Based on region, the gene therapy market is divided into North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest market share in the gene therapy market in 2016, and is expected to retain its dominance throughout the forecast period.

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Gene Therapy Market – Regional Insights

On the basis of region, the global gene therapy market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the global gene therapy market, owing to well-established healthcare facilities, extensive research and development activities, high per capita healthcare expenditure, and promising medical reimbursement policies in the region. For instance, in 2018, the U.S government approved US$ 3 billion, for The National Institutes of Health research funds. Additionally, rising prevalence of cancer and various chronic diseases has boosted 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 its 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.

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This release was published on openPR.