Global Gene Therapy Market, By Vector Type (Viral Vector, Non-Viral Vector), Applications (Oncological Disorders, Rare Diseases, Cardiovascular Diseases, Neurological Disorders, Infectious Disease, Other Diseases), Gene Type (Antigen, Cytokine, Tumor Suppressor, Suicide, Deficiency, Growth Factors, Receptors, Others), End Users (Pharmaceutical Companies, Research Institutions, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East And Africa)- Industry Trends and Forecast to 2025
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- Increase in population.
- Because of the investment towards the research and developments sectors.
- Enhancement of the rare diseases
- Awareness towards the rare diseases
- Because of high initiatives and governments funding for gene therapy development.
Gene therapy progress aims to cure rare diseases and some hereditary diseases caused by a mutated or faulty gene. Moreover, ever-increasing need for new cures for orphan diseases and rising incidence of cancer caused due to mutations in genes are likely to stir up the demand for gene therapy. Gene therapy works by repairing, repressing or replacing dysfunctional genes that cause disease with the aim of reestablishing normal function.
For instance, according to World Health Organization (WHO), in 2015, around 8.8 million deaths were because of cancer and globally, approximately 1 in 6 deaths were because of cancer. It was also reported that low income countries have only 26% of pathology facilities for public in 2017. Whereas, 90% of high-income countries stated that treatment facilities were available compared to less than 30% of low-income countries. The total annual economic cost of cancer in 2010 was estimated at approximately US$ 1.16 trillion.
According to the Food and Drug Administration (FDA), in November 2017, indicated that gene therapies would qualify for a fast approval process, which would bring more therapies to market faster. According to the US gene therapy, space has expanded significantly, underlined by the fact that over 55% of completed and ongoing trials are located in this geographic in 2017. According to The National Institutes of Health nearly 7,000 rare diseases affect more than 25 million Americans. About 80 percent of rare diseases are caused by a single-gene defect and about half of all rare diseases affect children. Since most rare diseases have no approved therapies, there is a significant unmet need. Hence due to increase in the death rates and growing awareness for the development and rare diseases will lead the growth of market for gene therapy.
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Global Gene Therapy Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of absorbable and non-absorbable sutures market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors
- Kite Pharma Inc.,
- GlaxoSmithKline PLC,
- Spark Therapeutics Inc.,
- Bluebird bio Inc.,
- Transgene SA,
- Applied Genetic Technologies Corporation,
- Oxford BioMedica, and
- NewLink Genetics Corp,
- UniQure N.V,
- Juno Therapeutics,
- Celgene Corporation,
- Shire Plc,
- Sangamo Biosciences,
- Dimension Therapeutics,
- Voyager Therapeutics,
- Human Stem Cell Institute,
- Bristol Myer’s Squibb,
- Chiesi Farmaceutici S.p.A.,
- Adaptimmune Therapeutics plc,
- Epeius Biotechnologies,
- Abeona Therapeutics,
- Merck KGaA among others.
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