Why Is Rising Cancer Incidence Biggest APAC Gene Therapy Market Driver?

The Asia-Pacific (APAC) gene therapy market is growing on account of the increasing research and development (R&D) activities in this field, many of which are yielding positive clinical trial results, and rising incidence of chronic diseases. Because of these factors, the market generated revenue of $349.1 million in 2020, and it will grow at a 36.8% CAGR between 2021 and 2030 (forecast period), to reach $6,931.5 million by 2030. Such a treatment involves the modification or removal of the malfunctioning genes in the human body.

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The type segment of the APAC gene therapy market is bifurcated into ex vivo and in vivo, of which the in vivo bifurcation generated the higher revenue during the historical period (2015–2020). Since this procedure involves administering the therapeutic agents inside the human body, it is less complicated than ex-vivo therapy, wherein the cells need to be taken out of the human body for their genes to be modified and then put back inside.

Therefore, the key driver for the APAC gene therapy market is the rising incidence of cancer. As per the Global Cancer Observatory, Asia was to witness 9,503,710 new diagnoses of cancer in 2020. Moreover, 5.2 million of the around 9.6 million global cancer deaths in 2018 were recorded in South, East, and Southeast Asia, says the American Cancer Society. Even according to the World Health Organization (WHO), most of the cancer deaths occur in low- and middle-income countries, a large number of which are located in APAC.

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With such technical developments, new gene therapies are being put to clinical trials, many of which have shown positive results in the recent past. For example, positive interim Phase I/II clinical trial results were announced by Applied Genetic Technologies Corporation (AGTC) in May 2020. These trials were initiated to ascertain the dose of the gene therapy to be given for further trials on people with X-linked retinitis pigmentosa (XLRP) because of a mutated RPGR gene.

China dominated the APAC gene therapy market in 2020, and it will likely hold on to its position throughout the forecast period. This is attributed to the rising number of R&D initiatives by major pharmaceutical companies to address the booming prevalence of rare and severe diseases in the country. For instance, Merck & Co. Inc. and GenScript Biotech Corporation signed a non-binding memorandum of understanding in March 2019 to manufacture viral and plasmid vectors.

Hence, with the increasing incidence of rare diseases in APAC, the market will continue to grow.

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This release was published on openPR.