Portland, OR, Feb. 28, 2019 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, Gene Therapy Market by Vector Type (Viral Vector and Non-viral Vector), Gene Type (Antigen, Cytokine, Tumor Suppressor, Suicide, Deficiency, Growth Factors, Receptors, and Others), and Applications (Oncological Disorders, Rare Diseases, Cardiovascular Diseases, Neurological Disorders, Infectious Disease, and Other Diseases) - Global Opportunity Analysis and Industry Forecast, 2017-2023. According to the report, the global gene therapy market garnered $784 million in 2017 and is expected to reach $4,402 million by 2023, registering a CAGR of 33.3% from 2017 to 2023.
The report provides a comprehensive analysis of the gene therapy market covering details on research methodology, market size and share, market dynamics, market classification, and company profiles. The report serves as a vital tool for stakeholders such as market players and investors as it helps them identify the opportunities in the field and provides them with accurate data that empowers smart decision making.
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The report offers an analysis of the market dynamics which include the growth drivers, restraints and opportunities. Increase in funding for R&D activities pertaining to gene therapy and increase in awareness regarding gene therapy drive the market. Nonetheless, high cost associated with the treatment and unwanted immune responses restrict the growth of the industry. Conversely, increase in government support, ethical acceptance of gene therapy for cancer treatment, and rise in prevalence of cancer offer new opportunities for the growth of the market.
The report offers a broad segmentation of the global gene therapy market. It segments the market into vector type, gene type, applications, and geography. Based on vector type, it is classified into viral vector and non-viral vector. The viral vector segment captured more than half of the market share in 2017 and is likely to remain dominant during the forecast period. The gene type segment is bifurcated into antigen, cytokine, tumor suppressor, suicide, deficiency, growth factors, receptors, and others. The tumor suppressor segment is expected to grow at the fastest CAGR of 35.5% during the study period. The applications segment is divided into oncological disorders, rare diseases, cardiovascular diseases, neurological disorders, infectious disease, and other diseases. The oncological disorders segment is likely to dominate in terms of revenue through 2023. The market study covers various geographical locations such as North America, Europe, Asia-Pacific, and LAMEA.
The report also includes an analysis of the leading players operating in the gene therapy market. They include Novartis, Kite Pharma, Inc., GlaxoSmithKline PLC, Spark Therapeutics Inc., Bluebird bio Inc., Genethon, Transgene SA, Applied Genetic Technologies Corporation, Oxford BioMedica, and NewLink Genetics Corp.
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