Genes are composed of DNA (Deoxyribonucleic Acid). Gene therapy is an experimental technique which is used to treat or prevent diseases. In a gene therapy healthy gene is transferred into damaged cells to counteract for abnormal genes or make a protein of interest. Genetic disorders are the result of gene mutation. In gene mutation proteins are made incorrectly. Gene therapy is effective on wide range of previously untreated diseases like hematological, ocular, neurodegerative diseases, and several types of cancers.
The leading players in the global Gene Therapy Market are also profiled in detail in the report to provide readers with a complete understanding of the competitive landscape of the global market. Major competitive strategies employed by leading players in the market are elaborated upon in detail, so that readers can get an accurate picture of what is working in the market and what is likely to bring them sustained success. Along with this, the report also provides the readers with a handy guide to what to avoid in the Gene Therapy Market and remain free from the major concerns plaguing the market players.
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The various key competitors discussed into report are Allergan, Shire, Biomarin, Pfizer and GSK, Novartis Pharmaceuticals Corporation, Kite Pharma, Incorporated, Spark Therapeutics, Inc, GlaxoSmithKline, Adaptimmune, Bluebird bio, Celgene, Shanghai Sunway Biotec,Adaptimmune Therapeutics Plc, Anchiano Therapeutics Ltd, Achieve Life Sciences, Adverum Biotechnologies Inc, Applied Genetic Technologies Corporation, CRISPR Therapeutics AG, Editas Medicine, Inc., and GlaxoSmithKline Plc.
Increase in demand for gene therapy is due increase in number of patients suffering from hereditary disorders. HIV, Cancer, and various chronic disorders. For instance, according American Cancer society report 2018 around 609640 patients died because of cancer in United States.
Furthermore, according to World Health Organization (WHO) report 2017 reported 1.0 Million deaths were caused due to HIV-related diseases worldwide. Moreover, increase in technological developments, innovations, and pre-clinical and clinical trials are expected to boost the growth of gene therapy market.
High cost of the product is the major restraining factor, which is expected to hamper the growth of gene therapy market. Also, the lack of standard regulations is expected to hinder the gene therapy market growth.
Establishment of strategic partnership by key competitors has the positive impact on gene therapy market growth. For instance, January 2020, ASC Therapeutics partnered with Vigene Biosciences for the development of gene therapy. Furthermore, rise in prevalence of various disorders such as cancer, and other chronic diseases is expected to propel the gene therapy market growth.
Gene Therapy Market segmentation
Gene therapy market is segmented on the basis of Vector type such as Viral Vector, and Non- Viral vector. Viral Vector includes Retroviruses, Lentiviruses, Adenoviruses; Adeno- associated virus, Herpes simplex Virus, Poxvirus, and others. Non-Viral Vector includes Naked/Plasmid vector, Gene Gun, Electroporation, Lipofection, and others, by Gene Type such as Antigen, Cytokine, Tumor Suppressor, Suicide, Deficiency, Growth Factors, Receptors, and Others. The market is further segmented into application such as Oncological Disorders, Rare Diseases, cardiovascular Diseases, Neurological Disorders, infectious Diseases, and others.
The Gene Therapy Market is segmented into five regions such as North America, Europe, Latin America, Asia Pacific, Middle East and Africa.
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