Global Gene Therapy Market is expected to reach USD 3928.86 Million by 2026, from USD 855 Million in 2018 growing at a CAGR of 21.5% during the forecast period 2026. Gene therapy progress aims to cure rare diseases and some hereditary diseases caused by a mutated or faulty gene. Moreover, ever-increasing need for new cures for orphan diseases and rising incidence of cancer caused due to mutations in genes are likely to stir up the demand for gene therapy. Gene therapy works by repairing, repressing or replacing dysfunctional genes that cause disease with the aim of reestablishing normal function.
Download Free Sample PDF Report at https://databridgemarketresearch.com/request-a-sample/?dbmr=global-gene-therapy-market
Some of the major players operating in the global gene therapy market are Novartis, Kite Pharma, Inc., GlaxoSmithKline PLC, Spark Therapeutics Inc., Bluebird bio Inc., Genethon, Transgene SA, Applied Genetic Technologies Corporation, Oxford BioMedica, and NewLink Genetics Corp, UniQure N.V, Juno Therapeutics, Celgene Corporation, Shire Plc, Sangamo Biosciences, Dimension Therapeutics, Voyager Therapeutics, Human Stem Cell Institute, Bristol Myer’s Squibb, Chiesi Farmaceutici S.p.A., Adaptimmune Therapeutics plc, Advantagene, Epeius Biotechnologies, Abeona Therapeutics, Merck KGaA among others.
For instance, according to World Health Organization (WHO), in 2015, around 8.8 million deaths were because of cancer and globally, approximately 1 in 6 deaths were because of cancer. It was also reported that low income countries have only 26% of pathology facilities for public in 2017. Whereas, 90% of high-income countries stated that treatment facilities were available compared to less than 30% of low-income countries. The total annual economic cost of cancer in 2010 was estimated at approximately US$ 1.16 trillion.
Major Market Drivers and Restraints:
- Increase in population.
- Because of the investment towards the research and developments sectors.
- Enhancement of the rare diseases
- Awareness towards the rare diseases
- Because of high initiatives and governments funding for gene therapy development.
- High investment and time consuming process for development.
- Not affordable for poor population.
According to the Food and Drug Administration (FDA), in November 2017, indicated that gene therapies would qualify for a fast approval process, which would bring more therapies to market faster. According to the US gene therapy, space has expanded significantly, underlined by the fact that over 55% of completed and ongoing trials are located in this geographic in 2017. According to The National Institutes of Health nearly 7,000 rare diseases affect more than 25 million Americans. About 80 percent of rare diseases are caused by a single-gene defect and about half of all rare diseases affect children. Since most rare diseases have no approved therapies, there is a significant unmet need. Hence due to increase in the death rates and growing awareness for the development and rare diseases will lead the growth of market for gene therapy.
Inquiry Before Buying at https://databridgemarketresearch.com/inquire-before-buying/?dbmr=global-gene-therapy-market
Global Gene Therapy Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of absorbable and non-absorbable sutures market for global, Europe, North America, Asia Pacific and South America.
Table of Contents
- Market Segmentation
- Market Overview
- Executive Summary
- Premium Insights
- Global, By Component
- Product Type
- Industry Type
10.2. North America
10.5. South America
10.6. Middle East & Africa
- Company Landscape
- Company Profiles
- Related Reports
Request for Detailed TOC at https://databridgemarketresearch.com/toc/?dbmr=global-gene-therapy-market
If you have any special requirements, please let us know and we will offer you the report as you want.
About Data Bridge Market Research
An absolute way to forecast what future holds is to comprehend the trend today!
Data Bridge set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavors to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process.
Data Bridge is an aftermath of sheer wisdom and experience which was formulated and framed in the year 2015 in Pune. We ponder into the heterogeneous markets in accord with our clients needs and scoop out the best possible solutions and detailed information about the market trends. Data Bridge delve into the markets across Asia, North America, South America, Africa to name few.
Data Bridge adepts in creating satisfied clients who reckon upon our services and rely on our hard work with certitude. We are content with our glorious 99.9 % client satisfying rate.
Data Bridge Market Research
US: +1 888 387 2818
UK: +44 208 089 1725
Hong Kong: +852 8192 7475