Market Growth Influencer
Human gene therapy is a high growth market. The growth of the market is majorly driven by the unavailability of cure for various chronic diseases especially cancer. The medical community is striving to development a proper treatment for cancer through gene therapy. Furthermore, the market is witnessing a precipitous rise in the venture capitalist investments. For instance, recently, Philadelphia based Gene Therapy Company, Spark Therapeutics, raised US$ 72.8 Million from Sofinnova Ventures to launch a gene therapy for genetic form of blindness. Moreover, there is also an increasing incidences of chronic diseases across the globe which is another factor propelling the market growth.
However, stringent regulatory approval process for gene therapy and the high cost of the gene therapy drugs are expected to hinder the growth of the market. The cost of gene therapy is approximately 1 million. Moreover, the reimbursement scenario of gene therapy is also not well defined due to which people refrain from opting for this therapy.
Gene therapy definition
Genes, carried on chromosomes, are the basic physical and functional units of heredity. Notably, gene therapy is the treatment of a disease by replacing, altering, or supplementing a gene that is absent or abnormal, and whose absence or abnormality is causing the disease.
Gene therapy is turning out to be an attractive market for the companies and investors. Furthermore, the market is incessantly gaining popularity amongst the global medical community. The advent of advanced technique for gene transfer has enabled the usage of gene therapy for various new applications. The majority of the gene therapy products are in pre-clinical or clinical research. Till date, there are only four marketed drugs namely, Glybera, Neovasculogen, Gendicine, Rexin-G, and Oncorine. However, these products constitute very less revenue to the gene therapy market. The major revenue of the gene therapy market is generated from the products used in the clinical trials.
Major Player: Human Gene Therapy Market
The prominent players present in the human gene therapy market include
- Sibiono GeneTech Co. Ltd.,
- Shanghai Sunway Biotech Co. Ltd,
- Human Stem Cells Institute,
- UniQure N.V,
- Spark Therapeutics, LLC,
- Advantagene Inc,
- Bluebird Bio,
- Oxford BioMedica Plc,
- Vical Inc amongst others.
Human Gene Therapy Market: Segmentation
For this study, the human gene therapy market is segmented into various segments such as commercialized therapies, product type, indication, and region.
On the basis of Commercialized Therapies, the market is segmented into
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On the basis of Product Type, the market is subdivided into
On the basis of Indication, the market is categorized into
Key questions answered in this report
What will the market size be in 2024 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors
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From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the Global Gene Therapy Market, high-growth regions, and market drivers, restraints, and opportunities.
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