New York, NY -- (SBWire) -- 08/17/2020 --According to a P&S Intelligence report, the global gene therapy market attained a revenue of $3,407.5 million in 2019 and is predicted to exhibit a 31.1% CAGR during the forecast period (2020–2030). The market is being driven by the rising research & development (R&D), increasing number of clinical trials that have shown positive results, and growing prevalence of chronic diseases. In terms of vector type, the market is divided into non-viral, viral, and other.

The advancements regarding gene therapy though can significantly aid in getting closer to dealing properly with several chronic diseases. Gene therapy is designed for introducing genetic material into cells for compensating for abnormal genes or for making a beneficial protein. In case a mutated gene causes an essential protein to be faulty or non-existent, gene therapy may potentially be able to introducing a new copy of the gene for restoring the function of the protein.

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In the gene therapy market, the Asia-Pacific region is projected to progress at the fastest pace in the years to come, which can be ascribed to the rising activities of key players in the industry, cost-effective labor, and emergence of an increasing number of group investors. Furthermore, countries in the region are implementing strict regulations for regulating the approval and development processes of gene therapy products.

The objective of this research includes;
- Major factors driving the gene therapy market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the gene therapy market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders

The major companies in the gene therapy market are engaging in partnerships and collaborations for their expansion. For example, Lonza Group Ltd. partnered with DiNAQOR AG in November 2019 for advancing the latter companies pre-clinical program revolving around the treatment of cardiac myosin-binding protein-C (MYBPC3) cardiomyopathies. The terms of the partnership state that Lonza will provide clinical, pre-clinical, and commercial production support for a gene therapy program initiated by DiNAQOR AG, DiNA-001.

Browse report overview with detailed TOC on "Gene Therapy Market Research Report - Global Industry Analysis and Growth Forecast to 2030" at: https://www.psmarketresearch.com/market-analysis/gene-therapy-market

Some other key companies operating in the gene therapy market are Spark Therapeutics Inc., bluebird bio Inc., Amgen Inc., Thermo Fisher Scientific Inc., Orchard Therapeutics plc, Pfizer Inc., REGENXBIO Inc., Novartis AG, Applied Genetic Technologies Corporation, and Adverum Biotechnologies Inc.

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