New York, NY, Jan. 18, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Gene Therapy Market by Type (Somatic Cell Gene Therapy and Germ Cell Gene Therapy) and by Application (Genetic Disorders, Cancer, Cardiovascular Disease, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024”. According to the report, the global gene therapy market was valued at approximately USD 655 million in 2017 and is expected to generate around USD 2,269 million by 2024, at a CAGR of around 19.42% between 2018 and 2024.

Gene therapy is the process where a DNA is inserted into a patient to treat a specific disease. The DNA is carefully selected to correct the effect of a mutated gene. Gene therapy is suitable for treating cancer by destroying a certain group of cells. Gene therapy has the potential to eventually eliminate genetic defects, kill cancerous cells, and prevent cardiovascular diseases. A fundamental requirement for gene therapy is the correct identification of genes coding for diseases.

Browse through 61 Tables & 21 Figures spread over 110 Pages and in-depth TOC on “Global Gene Therapy Market: Industry Type, Size, Share, Growth Analysis and Forecast, 2017–2024”.

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The global gene therapy market is likely to be driven by the growing prevalence of life-threatening genetic disorders, such as sickle-cell anemia, cystic fibrosis, down syndrome, across the globe in the future. Gene therapy aims to correct the underlying genetic cause of a disease instead of just treating the symptoms like a vast majority of drugs available in the market. Other major factors that are anticipated to drive the gene therapy market are the need for gene therapy based personalized solutions and increasing adoption of gene therapy for treatment. However, the requirement of an individual case-by-case approach and high treatment cost might hamper the gene therapy market on a global scale in the estimated timeframe.

Based on the type, the gene therapy market is bifurcated into somatic cell gene therapy and germ cell gene therapy. The somatic cell segment holds the maximum share of the global gene therapy market. Based on application, the gene therapy market is classified into genetic disorders, cancer, cardiovascular diseases, and others. Genetic disorders are likely to hold a significant market share over the forecast time period.

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North America, Europe, Asia Pacific, Latin America and the Middle East and Africa comprise the regional segment of the global gene therapy market. North America dominated the global gene therapy in 2017 market and is expected to remain the dominant region over the forecast time period as well. This can be attributed to the developed healthcare infrastructure, favorable government policies, and research activities across the region. The U.S. leads the region’s gene therapy market at the country level. It is expected to register the highest CAGR over the forecast time period, due to the advanced healthcare infrastructure, huge investments made in the research and development of gene therapy, and the presence of skilled manpower.

Europe was the second largest regional market in the year 2017 and is expected to show significant growth in the years to come. This growth can be mainly attributed to the increasing prevalence of cardiovascular diseases and cancer among the regional population.

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The Asia Pacific region is likely to register the fastest rate of growth in the gene therapy market in the upcoming years. China, India, and Japan are likely to be the fastest growing markets in the region’s gene therapy market in the future, owing to the low cost of clinical trials favoring research and development of gene therapy as a targeted treatment, increasing health awareness, the growing prevalence of cardiovascular diseases and cancer among the regional population.

The Middle Eastern and African region is projected to show sluggish growth in the upcoming years, due to lack of awareness. The Latin American region is another important regional market that is expected to experience a moderate rate of growth over the forecast time period.

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Some key players of the gene therapy market include UniQure N.V, Spark Therapeutics LLC, Bluebird Bio, Juno Therapeutics, GlaxoSmithKline, Celgene Corporation, Shire Plc, Sangamo Biosciences, Dimension Therapeutics, Voyager Therapeutics, Human Stem Cell Institute, Bristol Myer’s Squibb, and Chiesi Farmaceutici S.p.A., among others.

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This report segments the global gene therapy market into:

Global Gene Therapy Market: By Type

  • Somatic Cell Gene Therapy
  • Germ Cell Gene Therapy

Global Gene Therapy Market: By Application

  • Genetic Disorders
  • Cancer
  • Cardiovascular Disease
  • Others

Global Gene Therapy Market: By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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