Asia-Pacific Gene Therapy Industry Analysis, Growth, Development and Demand Forecast to 2030

The Asia-Pacific (APAC) gene therapy market revenue stood at $349.1 million in 2020, and it is predicted to rise to $6,931.5 million by 2030. The market will also exhibit a CAGR of 36.8% between 2021 and 2030, as per the estimates of the market research firm, P&S Intelligence. The factors driving the market expansion are the surging gene therapy activities, rising incidence of chronic diseases, and increasing number of clinical trials being conducted with positive results across the region.

The positive results of the recently conducted gene therapy clinical trials and studies are encouraging biopharmaceutical companies to focus heavily on penetrating the gene therapy market. For example, the positive results of the interim Phase I/II clinical trials, that helped determine the dose to be administered in the patients diagnosed with X-linked retinitis pigmentosa (XLRP) because of mutations in the RPGR gene, were announced by the X-Applied Genetic Technologies Corporation (AGTC) in May 2020.

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As per the data, the company's engineered RPGR constructs and proprietary adeno-associated viruses (AAV) vector were well tolerated and had various beneficial effects of the disease markers in a canine model of XLRP. Additionally, the treated patients showed massive improvements in their visual functions. Besides the positive results of the clinical trials, the increasing therapy development activities being carried out by various private and public research companies are also driving the expansion of the Asia-Pacific gene therapy market.

Gene therapy development processes are conducted by optimizing various vectors such as lentiviruses and retroviruses, by introducing new methods such as induced pluripotent stem cells, in combination with the current gene editing models and sometimes, even by carrying out trials in germ cells. The increasing number of these research activities are fueling the popularity of gene therapy in the APAC region. Depending on type, the APAC gene therapy market is divided into ex-vivo and in-vivo categories.

Between these, the in-vivo category held the larger share in the market between 2015 and 2020, primarily due to the high efficacy and less difficulty associated with this gene therapy method. When vector type is taken into consideration, the APAC gene therapy market is classified into herpes simplex virus (HSV), lentivirus, non-viral, and adenovirus categories. Out of these, the adenovirus category is predicted to exhibit the fastest growth in the market in the coming years.

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The APAC gene therapy market is expected to exhibit the highest growth rate in China in the upcoming years. This is attributed to the increasing strategic development activities being announced by the key players and the growing prevalence of rare diseases and cancer in the country. As per an article published in the South China Morning Post in April 2019, around 20 million people are diagnosed with rare diseases in mainland China.

Therefore, the market will boom in the years to come, primarily because of the rising incidence of various chronic and rare diseases and cancer and the surging gene therapy research and development activities being carried out by various private and public companies in the APAC region.

Browse more reports:

Gene Therapy Market - https://www.psmarketresearch.com/press-release/gene-therapy-market

Radiotherapy Market - https://www.psmarketresearch.com/press-release/radiotherapy-market

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This release was published on openPR.