July 05, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Gene Therapy Market.
It was estimated prior to this unanticipated outbreak that the Gene Therapy Market is likely to witness an impressive CAGR of 27.8% during 2022-2027. The prime factors contributing to the growth of the market are rising incidences of cancer, and other chronic diseases, availability of reimbursements, and increasing approvals and launches of new products.
What Is Gene Therapy?
Gene therapy is a technique which uses the introduction of DNA into a patient’s body in order to treat or prevent a disease. A functioning gene is present in the introduced DNA, to correct the effects of a disease, which causes mutations. This therapy aims at reestablishing normal function and involves repairing, repressing, or replacing dysfunctional genes that cause disease. Gene therapy:
- Serves as a promising treatment option for some genetic diseases such as muscular dystrophy and cystic fibrosis, certain inherited disorders, cancer, and viral infections.
- Addresses the root cause of severe diseases by aiding in drug development to identify the right target and approach.
- Provides a path to produce the functional protein in case of certain disorders where known genetic mutations lead to deficient or nonfunctional protein production by fixing the underlying defect.
- Poses a relatively low risk as a new gene introduced will integrate itself into the genome of the patient and continue functioning without hampering the operations of other genes.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Market Segment Analysis
Based on the indication type, the gene therapy market is segmented as neurological diseases, cancer, duchenne muscular dystrophy, heptological, and others. The cancer segment is expected to experience the highest growth in the market during the forecast period. This growth can be attributed to the approval of a growing number of gene therapies for the treatment of cancer and the rising incidences of hematologic cancers.
Based on the vector type, the market is segmented as non-viral and viral vectors. The non-viral vectors’ segment has been further bifurcated into oligonucleotides and others; and the viral vectors’ segment has been further bifurcated into retroviral vectors, adeno-associated virus vectors, and others. The non-viral vectors’ segment is expected to grow at a higher rate over the forecast period, owing to the higher market penetration of oligonucleotide-based non-viral vector gene therapies.
In terms of regions, North America is estimated to be the largest market during the forecast period with lucrative growth opportunities. This growth can be attributed to the presence of major players, rising prevalence of chronic diseases, high and increasing healthcare expenditure, presence of advanced healthcare infrastructure, and availability of reimbursements. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
Key players operating in the global Gene Therapy market are-
- Biogen, Inc.,
- Novartis International AG,
- Gilead Sciences, Inc.,
- Spark Therapeutics, Inc.,
- MolMed S.p.A.,
- Orchard Therapeutics plc.,
- Sibiono GeneTech Co. Ltd.,
- Shanghai Sunway Biotech Co., Ltd.,
- Bluebird Bio,
- Human Stem Cells Institute PJSC,
- AnGes MG, Inc.,
- Alnylam Pharmaceuticals, Inc.,
- Sarepta Therapeutics, Inc.,
- Jazz Pharmaceuticals, Inc.,
- Akcea Therapeutics,
- Dynavax Technologies Corporation.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Gene Therapy analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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