Global Gene Therapy Market is valued at USD 1.5 billion in 2020 which is expected to reach USD 6.8 billion by 2027 at a CAGR 16.5% from 2020-2027. Gene Therapy Market report covers forecast analysis on a global as well as regional level. They offer historical data from 2017 to 2019 along with forecast from 2020 to 2027 based on revenue. Also, the Qualiket Research provides detailed analysis of the COVID-19 impact on global gene therapy market.
Gene therapy is a type of experimental technique in which genes are used to treat or prevent diseases. In this therapy genes are inserted into patient’s cells instead of using surgery and drugs. Gene therapy has various approaches such as replacement of muted gene, inactivating or knocking out a muted gene, and introducing new gene into the body to help fight a disease.
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Increase in prevalence of chronic diseases like cancer is expected to boost the global gene therapy market, in this forecast period. Furthermore, rise in technological advancements in genomics and gene-editing tool will have the positive impact on gene therapy market growth. In other hand, rapid and significant progress in the molecular and cellular biology arena is expected to propel the global gene therapy market growth. Moreover, rise in product approval is expected to fuel the global gene therapy market growth.
Key Players
Some key players are discussed in global gene therapy market are BIGEN, Amgen, Novartis AG, Bluebird Bio, Inc, Spark Therapeutics Orchard Therapeutics Plc, Human Stem cell Institutes, Gilead Sciences Inc., JAZZ Pharmaceuticals, Sibiono Genetech Co,ltd, UNIQURE N.V,Mustang Bio, and Poseida Therapeutics Inc.
However, high cost is the major restraining factor which is expected to hamper the global gene therapy market growth. Also, lack of skilled professionals is expected to affect the global gene therapy market growth.
Market Segmentation
The Global Gene Therapy Market is classified into type, gene type, and application. Based on type, the global gene therapy market is segmented into Viral Sector, and Nonviral Sector.
Based on the gene type, the global gene therapy market is segmented into Antigen, Cytokine, Growth Factors, Receptors, and Others.
Based on the application, the global gene therapy market is segmented into Oncological Disorder, Cardiovascular Diseases, Neurological Disorders, Rare Diseases, Infectious Diseases, and Others.
Regional Analysis
Based on the region, the global gene therapy market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East and Africa.
The North America is expected to hold the largest market share of the global gene therapy market. This region is expected to dominate the market, due to high healthcare expenditure, and the rise in the number of healthcare organizations in this region. Further, Europe is expected to account for the second-largest revenue contributor during this forecast period, owing to the increase in government support, and advanced healthcare infrastructure. Also, Asia Pacific is expected to be fastest growing region in global gene therapy market.
Key Features
- The report provides an in-depth analysis along with the current trends and future estimations of the global gene therapy market.
- Extensive analysis of key segments of the industry is provided to understand the type of gene therapy across the globe.
- The Qualiket Research provides detailed information of Key market players and their strategies are analyzed to understand the competitive outlook of the market.
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