Grand View Research, Inc. - Market Research And Consulting.The global gene therapy market size is expected to reach USD 39.54 million by 2026, according to a report published by Grand View Research, Inc. Rising competition among manufacturers and high number of molecules in pipeline are supporting the growth of the market.
According to a report published by Grand View Research, Inc.; the global gene therapy market is expected to reach a valuation of over USD 39.54 million by 2026. Significant number of molecules in pipeline is expected to drive market over the forecast period (2014 to 2026).
Gene therapy can cure rare as well as hereditary diseases caused by mutated or faulty gene. Increasing use in treatment of cardiovascular and rare diseases is one of the major trends supporting growth of market for gene therapy. In addition, rising requirement for new treatment options for orphan diseases and high prevalence of cancer due to gene mutations are expected to boost market growth in the forthcoming years.
In early 2016, more than 1000 molecule in pipeline were in various clinical phases. Approximately 76.0% of these molecules are in the developing or preclinical stages presently. They are expected to be launched by 2020. This factor is anticipated to bode well for overall market growth over the forecast period. However, high concerns related to unethical practices, especially in developing countries can hinder market growth to an extent. Very few drugs have received approvals by regulatory bodies across the world. Sky high prices of gene therapeutics are also anticipated to hinder commercial access for many regions.
Full Research Report On Gene Therapy Market Analysis: www.grandviewresearch.com/industry-analysis/gene-therapy-market
The worldwide gene therapy market can be segmented on the basis of indication, vector type, and region. Based on indication, the market can be categorized into cancer, infectious diseases, cardio vascular diseases, neuro disorders, genetic disorders, and others. In 2017, cancer acquired the largest market share owing to presence of a large number of pipeline molecules. More than 60.0% of the market is occupied by cancer research. High incidence of cancer due to genetic mutation is expected to boost segment growth. Constant advancements in cancer gene studies have provided important information regarding cancer-related molecular signatures. This is also expected to support ongoing clinical trials.
On the basis of vector type, the market for gene therapy can be categorized into viral vectors and non-viral vectors. Modified viruses are the best vectors to deliver functioning gene to proposed cell target, according to scientists. Many viruses including Adeno-associated virus, herpes simplex virus, retrovirus, and lentivirus are modified in labs and are used as carriers in gene therapy drugs. Adenovirus is the most used viral vector followed by Retrovirus owing to their reduced immunogenicity. Every virus comprises disadvantage like limited DNA carrying ability or toxicity.
Geographically, the market can be divided into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Europe and U.S. are expected to hold majority of market share during the forecast period. In terms of revenue, U.S. is expected to lead the market as more than 64.0% of all clinical trials conducted in the country. Asia Pacific is anticipated to expand at notable CAGR over the forecast period due to growth in pipeline molecules. Emerging countries such as China and Russia are likely to lead by an important margin as they have approved cancer therapy drugs.
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Key companies operating in the gene therapy market include ReGenX Bio. Inc.; Dimension Therapeutics Inc.; Epeius Biotechnologies Corp; TaxusCardium Pharmaceuticals Inc.; and Biomarin Pharmaceuticals, Inc. Market growth mainly relies on crucial decisions made by manufacturers in terms of regulations, pricing, and reimbursement for treatment. Presence of a large number of pipeline molecules and intense competition among companies to augment their revenue growth is expected to drive the market in the forthcoming years.
Several startups are getting capital investments to support their research and development activities. Increasing emphasis on development of gene therapy for the treatment of rare diseases has led to competition among market players. Various established pharmaceutical and biotech companies are likely to acquire small firms. Many small companies are involved in development of in-house expertise and build their own pipelines. This factor is anticipated to create lucrative prospects for collaborations.
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