Gene Therapy Market Size, Share, Trends Analysis and Growth Forecast by Type, Appraised By key Players GlaxoSmithKline, Bluebird Bio, Adaptimmune Therapeutics, Celgene Corporation

Genes are composed of deoxyribonucleic acid (DNA), which contains essential information for producing proteins that are crucial for the optimal functioning of the body. Genetic disorder is the result of gene mutations in which proteins are made incorrectly. Gene therapy is intended to introduce healthy gene into damaged cells to counteract for abnormal genes or to make a protein of interest. Mutated gene causes missing of the important protein, with the help of gene therapy normal copy of that missing or faulty protein can be introduced to restore the function of the protein. All over the world, gene therapy is being extensively studied by the researchers for the treatment of various diseases such as HIV, Cancer, Parkinson’s disease, hemophilia and even immune deficiencies through various approaches. For instance, According to 2015, 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 a disease. In the gene therapy treatment, vectors are responsible for insertion of functional gene into the genome of an individual tissues and cells, one of the most common vectors are viruses. The gene therapy treatment which was once considered as unfeasible, has now become a trend among small and big companies. Result of this has been an increased the in the number of various successful startups, backed by financiers in line with giant companies these have boosted the growth of the market.

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Gene Therapy Market – Dynamics

Demand for gene therapy is significantly increasing due to increasing number of patients suffering from hereditary disorders, cancer, HIV, and various chronic diseases. For instance, 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 published article in 2014 Regenerative Medicine reports 4749 registries of clinical trials related to stem cell treatment. Several diseases are likely to propel growth of the gene therapy market size during the forecast period. Moreover, increasing research and development funding by government agencies and commercial market players for the development of innovative, efficient, and safer gene therapy practices is boosted the market growth. For instance, 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 growth of the market.

However, unwanted immune responses related to treatment, concerns regarding unethical use of gene therapy and high cost associated with the treatment can hamper the market growth.

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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Gene Therapy Market – Competitive Advances

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.

Market Taxonomy

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
Cancer
Genetic Disorders
Neuro Disorders
Infectious Diseases
Others

On the basis of geography, the global gene therapy market is segmented into:

North America
Latin America
Europe
Asia Pacific
Middle East
Africa

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This release was published on openPR.