DUBLIN/PRNewswire/ -- The "Gene Therapy Market by Vector Type, and Applications - Global Opportunity Analysis and Industry Forecast, 2017-2023" report has been added to ResearchAndMarkets.com's offering.
The global gene therapy market was valued at $584 million in 2016, and is estimated to reach $4,402 million by 2023, registering a CAGR of 33.3% from 2017 to 2023
Gene therapy is a technique that involves the delivery of nucleic acid polymers into a patients cells as a drug to treat diseases. It fixes a genetic problem at its source. The process involves modifying the protein either to change the genetic expression or to correct a mutation. The emergence of this technology meets the rise in needs for better diagnostics and targeted therapy tools.
For instance, genetic engineering can be used to modify physical appearance, metabolism, physical capabilities, and mental abilities such as memory and intelligence. In addition, it is also used for infertility treatment. Gene therapy offers a ray of hope for patients, who either have no treatment options or show no benefits with drugs currently available. The ongoing success has strongly supported upcoming researches and has carved ways for enhancement of gene therapy.
The gene therapy market is a widely expanding field in the pharmaceutical industry with new opportunities. This has piqued the interests of venture capitalists to explore this market and its commercial potential. Major factors that drive the growth of this market include high demands for DNA vaccines to treat genetic diseases, targeted drug delivery, and high incidence of genetic disorders. However, the stringent regulatory approval process for gene therapy and the high costs of gene therapy drugs are expected to hinder the growth of the market.
- High investment for R&D activities pertaining to gene therapy
- Increase in prevalence of cancer
- Growth in awareness regarding gene therapy
- High cost associated with gene therapies
- Unwanted immune responses
- Untapped potential for emerging markets
KEY MARKET SEGMENTS
By Vector Type
- Viral vector
- Adeno Associated Virus
- Herpes Simplex Virus
- Vaccinia Virus
- Non-viral vector
- Naked/Plasmid Vectors
- Gene Gun
By Gene Type
- Tumor Suppressor
- Growth factors
- Oncological Disorders
- Rare Diseases
- Cardiovascular Diseases
- Neurological Disorders
- Infectious disease
- Other Diseases
KEY PLAYERS PROFILED
- Kite Pharma, Inc.
- GlaxoSmithKline PLC
- Spark Therapeutics Inc.
- Bluebird bio Inc.
- Transgene SA
- Applied Genetic Technologies Corporation
- Oxford BioMedica
- NewLink Genetics Corp.
For more information about this report visit https://www.researchandmarkets.com/research/86pzz7/global_gene?w=5
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