The Gene Therapy Market Analysis size is anticipated to grow at a 40.7% CAGR between 2019-2024, as per the recent Market Research Future (MRFR) report. Gene therapy, simply put, is an experimental method that uses genes for treating or preventing a disease. It is likely to allow doctors in the future to treat a disorder by inserting genes into the cells of a patient rather than using medications or surgery. Gene therapy is widely used for eliminating cancerous cells, preventing cardiovascular diseases, eliminating infectious pathogens, and blocking neurological disorders.
Gene therapy uses parts of the DNA, generally the gene, to prevent or treat a disease. The DNA is chosen carefully for correcting the effects of mutated genes, which is causing the disease. It is a promising treatment for genetic diseases such as cystic fibrosis and muscular dystrophy. It is of two types- germline gene therapy and somatic gene therapy.
Numerous factors are adding to the global gene therapy market growth. These factors, according to the recent MRFR report, include the demand for innovative medicines, rising prevalence of target
disease, increasing investments by key players, and robust product pipeline. High prevalence of cancer, availability of reimbursement, and increasing government initiatives are also adding to the global gene therapy market growth.
On the contrary, stringent regulatory policies, side effects, and the high price of product development are factors that may limit the global gene therapy market growth over the forecast period.
Gene Therapy Market Segmentation
The MRFR report provides an inclusive segmental analysis of the global gene therapy market based on end user, indication, and product.
By product, the global gene therapy market is segmented into imlygic, zynteglo, strimvelis, zolgensma, yescarta, luxturna, and kymriah.
By indication, the global gene therapy market is segmented into genetic disorders/diseases, oncology, and others. Of these, the oncology segment will lead the market during the forecast period.
By end user, the global gene therapy market is segmented into specialty treatment centers, hospitals and clinics, and others. Among these, hospitals and clinics will dominate the market over the forecast period as hospitals are the first choice of treatment for diseases.
Browse Complete Report: https://www.marketresearchfuture.com/reports/gene-therapy-market-8399
Gene Therapy Market Regional Analysis
By region, the global gene therapy market report covers the recent growth opportunities and trends across the Americas, the Asia Pacific (APAC), the Middle East & Africa, as well as, Europe. Of these, the Americas is predicted to dominate the gene therapy market during the forecast period. Factors adding to the gene therapy market growth in the region include the rising per capita healthcare expenditure, increasing use of gene therapy, high funding on research and development activities, rise in government initiative, and increasing prevalence of cancer.
The global gene therapy market in the APAC region is predicted to grow at the fastest pace over the forecast period. Factors adding to the gene therapy market growth include the rising awareness about gene therapy, rising number of patients, increase in healthcare expenditure, increasing prevalence of cancer, and availability of reimbursements.
The global gene therapy market in Europe will have healthy growth over the forecast period for new product launches by industry players.
The global gene therapy market in the MEA is predicted to have a small share during the forecast period for limited healthcare infrastructure.
Gene Therapy Market Landscape
Eminent players profiled in the global gene therapy market report include Lonza (Switzerland), CEVEC (Germany), Thermo Fisher Scientific Inc. (US), Bristol-Myers Squibb Company (US), Celgene Corporation (US), Orchard Therapeutics plc (UK), uniQure N.V. (Netherlands), Gilead Sciences, Inc. (US), Spark Therapeutics, Inc. (US), Novartis AG (Switzerland), and Amgen, Inc. (US). Key players have incorporated strategies such as collaborations, mergers, new product launches, acquisitions, strategic alliances, and extensive R&D activities to stay ahead in the competition.
Bluebird Bio’s Zynteglo, the ultra-pricey flagship gene therapy to treat transfusion-dependent beta-thalassemia, finally receives clearance for its launch in Germany.