The global gene therapy market was valued at $393.35 million in 2018, and is expected to grow at a CAGR of 34.8 percent from 2019 to 2026, reaching $6,205.85 million.
Genes are made up of DNA that contains the instructions for making proteins that are required for the human body to operate properly. Gene therapy is a treatment method that involves injecting DNA into a patient to address hereditary problems. The new DNA includes a working gene that can be used to reverse the consequences of an illness that generates mutations.
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Repairing, suppressing, or replacing disease-causing genes with the goal of restoring normal function is the goal of gene therapy. Some hereditary diseases, such as muscular dystrophy and cystic fibrosis, as well as certain inherited disorders, cancer, and viral infections, may benefit from this therapy. Furthermore, it assists drug development by identifying the appropriate target and method, thereby tackling the underlying cause of serious disorders. Gene therapy can repair the underlying deficiency and provide a method to create the functional protein in certain illnesses where known genetic mutations lead to poor or nonfunctional protein production. Furthermore, the risk of gene therapy is reduced because the new gene will integrate into the patient’s genome and continue to function without interfering with the functions of existing genes. As a result, the aforementioned factors contribute to the growth of the worldwide gene therapy market share.
In the realms of health sciences and pharmacology, gene treatments have ushered in a revolution. To strengthen their position in the worldwide market, key companies have implemented strategies such as product development and product launch. For example, the United States Food and Drug Administration (FDA) granted AveXis, a biotechnology firm, product approval for Zolgensma in 2019 for the treatment of children patients with spinal muscular atrophy. Furthermore, Luxturna, the first and only pharmacologic treatment for an inherited retinal condition, was approved by Spark Therapeutics, Inc. in December 2017. In addition, compared to prior years, there was an increase in new pipeline advances for gene therapy in 2018. As a result, the number of clinical trials, product launches, collaborations, and product developments is increasing, which is likely to fuel the expansion of the gene therapy market over the forecast period.
Segment of Gene Therapy Market
By Product type : Somatic Gene Therapy, Germline Gene Therapy and Others
By Application : Oncology, Rare Diseases, Infectious Disease and Others
In the worldwide gene therapy industry, there are a number of important companies are Adaptimmune Therapeutics Plc., Anchiano Therapeutics Ltd., Achieve Life Sciences, Inc., Adverum Biotechnologies, Inc., Abeona Therapeutics Inc., Applied Genetic Technologies Corporation, Arbutus Biopharma Corporation, Audentes Therapeutics, Inc., AveXis, Inc., Bluebird Bio, Inc., Celgene Corporation, CRISPR Therapeutics AG, Editas Medicine, Inc., Editas Medicine, Inc., GlaxoSmithKline Plc., Intellia Therapeutics, Inc., Merck & Co., Inc., Novartis AG, REGENXBIO Inc., Spark Therapeutics, Inc., Sangamo Therapeutics, Inc., Uniqure N. V., Voyager Therapeutics, Inc. Other prominent players in the value chain (companies not profiled in the report) includes Amgen, Epeius Biotechnologies, Sanofi, Juno Therapeutics, and Advantagene.
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Market Benefits for Gene Therapy:
● This research offers a complete quantitative analysis of current gene therapy industry trends as well as gene therapy market future estimates for the years 2018 to 2026, assisting in the identification of market opportunities.
● Market forecasts are based on a thorough examination of the industry’s most important developments.
● An in-depth gene therapy market analysis, which includes regional analysis, is expected to provide stakeholders with a detailed understanding of current trends, allowing them to formulate region-specific plans.
● The global gene therapy market is thoroughly examined in terms of kind, method, technology, end user, and geography.
● To comprehend the competitive landscape of the industry, key manufacturers’ development strategies are given.
● The market conditions in each region and country are thoroughly examined in this research.
● This research profiles key market competitors and analyses their strategies in depth, allowing readers to better understand the global industry’s competitive landscape.
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