Dallas, Texas, United States, Oct. 25, 2021 (GLOBE NEWSWIRE) -- Global Gene Therapy Market is estimated to grow from $6,589.13 million in 2020 to $12,313.23 million by 2027, at a CAGR 27.85%.
Gene therapy is defined as an advanced medical treatment which involves the transfer of a normal/ healthy gene to replace a defective gene in a cell. It can be used to cure various chronic & genetic disorders in human beings. It is a way of fixing genetic disorders by introducing a normal & healthy gene in place of defective genes in a cell, in order to prevent/cure different types of genetic & chronic disorders for which no final cure has been developed.
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Gene therapy developers are investing in collaboration or merger and acquisition, business expansion, and new product launch deals as a viable strategy to enhance in-house expertise & strengthen product pipelines. These are expected to accelerate the global gene therapy market growth over the forecast period. For instance, In May 2019, Novartis had received approval to sell its products in Japan.
List of the key players of Global Gene Therapy Market
- BIGEN
- Gilead Sciences Inc.
- Amgen, Novartis AG
- Bluebird Bio, Inc
- Orchard Therapeutics Plc
- Spark Therapeutics
- Human Stem cell Institutes
- JAZZ Pharmaceuticals
- Sibiono Genetech Co,ltd
- UNIQURE N.V
- Mustang Bio
- Poseida Therapeutics Inc.
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Qualiket Research has segmented the Global Gene Therapy Market based on Type, Gene type, Application, and region.
By Type
- Viral
- Nonviral
By Gene Type
- Antigen
- Cytokine
- Growth Factors
- Receptors
- Others
By Application
- Oncological Disorder
- Cardiovascular Diseases
- Neurological Disorders
- Rare Diseases
- Infectious Diseases
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Key Insights & Findings:
- The factors that drive gene therapy market growth include, increase in investments in research and developments, growing technological advancements, and the increase in prevalence of target diseases.
- The increase in demand for gene therapies for the treatment of cancer is expected to grow at a high rate over the forecast period.
- North America region accounted for the largest share of the gene therapy market, followed by Europe.
- The presence of centers & institutes engaged in Research and Development on gene therapies is likely to continue driving the gene therapy market in North America.
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