New York, NY -- (SBWire) -- 03/31/2020 --As per research findings of Market Industry Reports (MIR), increasing number of product approvals & R&D activities, supportive government initiatives in the gene therapy arena are set to open new avenues for stakeholders.
Major Players Include:
The global gene therapy market is largely governed by prominent players such as Novartis AG, UniQure N.V., Regenxbio Inc., Sibiono GeneTech Co. Ltd., Amgen Inc., Voyager Therapeutics, Sarepta Therapeutics, Inc., Spark Therapeutics, Inc., Audentes Therapeutics, and Orchard Therapeutics plc, among others.
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Growth Factors:
Growth opportunities in the global gene therapy market looks promising during the forecast period. Rising incidences of chronic diseases as well as genetic disorders globally, favorable initiatives from governments to support research & development of gene therapy products and technological advancements are some of the key factors driving the global gene therapy market.
Similarly, increased focus of players in this market for getting approvals for gene therapy products is anticipated to boost the gene therapy market significantly during the forecast period. For instance, in May 2019, AveXis, a U.S.-based company received FDA's approval for Zolgensma. Zolgensma is used for the treatment of a rare genetic disorder and Spinal Muscular Atrophy (SMA) in pediatric patients below the age of 2 years.
"Companies are striving to discover, develop, and deliver gene therapies for rare genetic disorders,"
From a regional perspective, Europe is expected to witness the highest CAGR in the coming years due to presence of several gene therapy products in the development stage. Whereas, North America accounts for the largest share in the gene therapy market. The large share of this region can be attributed to rising incidences of chronic diseases & genetic disorders such as cancer, hemophilia, Multiple Sclerosis (MS), and others.
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MARKET ECOSYSTEM/CLASSIFICATION
By Vector Type
Viral Vectors
Adenovirus
Lentivirus
Retrovirus
Adeno-associated virus
Herpes simplex virus
Poxvirus
Vaccinia virus
Others
Non-viral Vectors
Naked plasmid vector
Gene gun
Electroporation
Lipofection
Others
By Gene Type
Antigen
Cytokine
Tumor Suppressor
Suicide
Deficiency
Growth Factors
Receptors
Others
By Application
Oncological Disorders
Rare Diseases
Cardiovascular Diseases
Neurological Disorders
Infectious Diseases
Other Diseases
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Gene Therapy Market Companies Outlook and Trends Likely to Witness CAGR of 33.1% from 2019 to 2030
Gene Therapy Market industry development trends and strategic plan for positive Growth discuss in research report.The global gene therapy market is estimated to be over US$ 411.2 Mn in 2018. It is anticipated to grow at a double-digit CAGR of 33.1% from 2019 to 2030.