Dublin, Feb. 07, 2022 (GLOBE NEWSWIRE) -- The "Nucleic Acid Based Gene Therapy Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.
Major players in the nucleic acid-based gene therapy market are Wave Life Sciences, Imugene, Caperna, Phylogica, Protagonist Therapeutics, Benitec Biopharma, EGEN, BioMedica, Transgene and Copernicus Therapeutics.
The global nucleic acid based gene therapy market is expected to grow from $0.56 billion in 2020 to $0.61 billion in 2021 at a compound annual growth rate (CAGR) of 8.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $0.85 billion in 2025 at a CAGR of 9%.
The nucleic acid-based gene therapy market consists of sales of nucleic acid-based gene therapy products and services. Gene therapy is used for correcting defective genes that are responsible for disease development. Moreover, nucleic acid-based therapeutics are used to treat genetic disorders and diseases for which there exists no permanent cure such as anaemia, sickle cell, cystic fibrosis, diabetes, and thalassemia.
Stringent regulations imposed on gene therapies raises the price of gene therapies, which in turn hinders the demand for nucleic acid-based gene therapies. The excessive regulatory oversights create an expensive and elongated route for approval increasing the expenses.
According to Foundation for Economic Education (FEE), unlike other drugs approved or regulated by the Food and Drug Administration (FDA), gene therapies are not only subject to the regulatory structure of FDA, but also the Recombinant DNA Advisory Committee and Office of Biotechnology Activities.
Also, as estimated by FEE, an approved gene therapy drug cost nearly $5.0 billion, which is five times higher than that of the average cost of FDA approval. The high cost of gene therapeutics drugs places them beyond the financial reach of the populace. This scenario is anticipated to restrain the market growth of the nucleic acid-based gene therapy market.
Rising financial support by the government and the companies is projected to drive the demand for nucleic acid based gene therapy. Nucleic acid therapeutics are analogs of naturally occurring acids or proteins responsible for genetic expression. The traditional therapies do not have any cure for the treatment of diseases such as cystic fibrosis, hemophilia, sickle cell anaemia, thalassemia, and diabetes.
Genetic profiling and molecular target identification form the backbone of these classes of drugs. Nucleic acid medication has greater potential for the treatment of these diseases, as they target the genetic basis of diseases and have a permanent cure. Rising financial support by the government and the companies dealing in the market for gene therapy is expected to contribute to increasing the demand for nucleic acid-based gene therapies. The government support for gene therapies will contribute to the growth of the market.
Key Topics Covered:
1. Executive Summary
2. Nucleic Acid Based Gene therapy Market Characteristics
3. Nucleic Acid Based Gene therapy Market Trends and Strategies
4. Impact Of COVID-19 On Nucleic Acid Based Gene therapy
5. Nucleic Acid Based Gene therapy Market Size and Growth
5.1. Global Nucleic Acid Based Gene therapy Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Nucleic Acid Based Gene therapy Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Nucleic Acid Based Gene therapy Market Segmentation
6.1. Global Nucleic Acid Based Gene therapy Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Anti-Sence and Anti-Gene
- Short Inhibitory Sequences
- Gene Transfer therapy
- Nucleoside Analogs
- Ribozymes
- Aptamers
- Others
6.2. Global Nucleic Acid Based Gene therapy Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Oncology
- Muscular Dystrophy/ Muscular Disorders
- Rare Diseases
6.3. Global Nucleic Acid Based Gene therapy Market, Segmentation by End User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Hospitals and Clinics
- Academic and Research Institutes
7. Nucleic Acid Based Gene therapy Market Regional and Country Analysis
7.1. Global Nucleic Acid Based Gene therapy Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Nucleic Acid Based Gene therapy Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Companies Mentioned
- Celsion Corporation
- Wave Life Sciences
- Imugene
- Caperna
- Phylogica
- Protagonist Therapeutics
- Benitec Biopharma
- EGEN
- BioMedica
- Transgene
- Copernicus Therapeutics
For more information about this report visit https://www.researchandmarkets.com/r/42pcfb
Attachment
