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Gene Therapy Market Analysis Focusing on Top Key Players – Novartis, Kite Pharma, Inc., GlaxoSmithKline PLC, Spark Therapeutics Inc., Bluebird bio Inc., Genethon and more

12-20-2018 10:46 AM CET | Health & Medicine

Press release from: Allied Market Research

Gene Therapy Market

Gene Therapy Market

Allied Market Research recently published a report, titled, “Gene Therapy Market by Vector Type (Viral Vector and Non-viral Vector), Gene Type (Antigen, Cytokine, Tumor Suppressor, Suicide, Deficiency, Growth Factors, Receptors, and Others), and Applications (Oncological Disorders, Rare Diseases, Cardiovascular Diseases, Neurological Disorders, Infectious Disease, and Other Diseases) - Global Opportunity Analysis and Industry Forecast, 2017-2023”. According to the report, the global gene therapy market was pegged at $584 million in 2016 and is expected to garner $4,402 million by 2023, registering a CAGR of 33.3% from 2017 to 2023.

Increase in investment for R&D activities for gene therapy, increase in prevalence of cancer and other chronic diseases, and increasing awareness regarding gene therapy have boosted the growth of the market. However, high cost associated with gene therapies and unwanted immune response hinder the market growth. On the contrary, untapped potential in the emerging markets is expected to create lucrative opportunities for the market players in the near future.

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The key companies profiled in the report include
• Novartis
• Kite Pharma Inc.
• GlaxoSmithKline PLC
• Spark Therapeutics Inc.
• Bluebird bio Inc.
• Genethon
• Transgene SA
• Applied Genetic Technologies Corporation
• Oxford BioMedica
• NewLink Genetics Corp.

Other prominent players in the value chain include Amgen, Epeius Biotechnologies, Abeona Therapeutics, Sanofi, UniQure, Juno Therapeutics, Adaptimmune, Celgene, and Advantagene.

Among the vector type, viral vectors contribute to the largest share in 2016, and estimated to retain the same trend during the forecast period. Non-viral vector is anticipated to be a lucrative market due to the technological advancement of these vectors with positive results for these therapies during the preclinical and clinical trials for the treatment of various diseases.
Among the gene type, antigen dominates the overall market accounting for two-ninths of the total share in 2016. Among the applications, oncological disorders is the largest contributor towards the market growth.

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In 2016, North America accounted for maximum contribution to the total revenue generated, owing to the high prevalence rate of cancer, presence of high disposable income, and high funding for R&D activities associated with gene therapy. However, Asia-Pacific is expected to witness the highest CAGR during the analysis period, attributable to rise in incidence rate of cancer, increase in government initiative to improve healthcare infrastructure, and rise in healthcare expenditure.

Key Findings of the Gene Therapy Market:
• Non-viral vectors is projected to grow at the highest rate during the analysis period.
• Oncological disorders segment generated the highest revenue and is expected to continue its dominance in future.
• North America dominated global gene therapy market in 2016 and is projected to continue its dominance in future.
• China is expected to grow highest in the Asia-Pacific region during the forecast period.
• Antigen was the largest contributor among the gene type segments.

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About Us:

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

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