The Global Gene Therapy Market is subject to witness a substantial growth due to the high-end demand for latest technologies in healthcare sector and collective research and development (R&D) activities in the area of genetics. High occurrence of cancer-related diseases like breast cancer and their early detection are compelling the market growth of gene therapy.
Early detection of breast cancer involves BRC gene testing which is gaining substantial preference in recent times. Identification of severity among patients suffering from chronic diseases and successful execution of disease management are other major factors driving the growth of the gene therapy market. The chronic diseases involve such as diabetes and other cardio-vascular diseases, these diseases primarily require gene therapy for effective treatment.
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Gene therapy involves DNA testing that is used for identification and execution of the genetic analysis for detection of vulnerabilities due to hereditary diseases. Application of gene therapy extends to agriculture biotechnology, in which therapy (also called as progeny testing) is used to determine the quality of breeding livestock. In population ecosystem, genetic testing is used for tracking hereditary strengths and weakness for a particular set of population. Globally, the market is predicted to grow at significant CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the gene therapy market.
Gene therapy identifies differences among genes that are related with disease or other behaviors. The gene therapy determine person susceptibility towards genetic disease. The therapy also helps to understand the likelihood of a person to carry forward genetic mutation to their offspring. Gene therapy is performed on various blood sample taken during different period in person’s life, for example, before the birth and until death of the individual. The fast paced technological advancement in gene therapy and sequencing methodologies, has led to the vast expansion of gene therapy in numerous health care sections to determine individual’s susceptibility towards complex disorders.
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Gene therapy is performed on blood sample, hair, skin-tissue, and amniotic fluids that are found during pregnancy and surrounding fetus area. For instance, a health checkup method known as buccal smear, involves a cotton brush or a cotton swab to gather a fraction of DNA from the interior surface of the cheek. The use of fraction saline mouthwash also serves the same purpose, to collect the sample of the cells.
The market is broadly categorized into two major segments based on the vector type such as viral vector and non-viral vectors. The viral vector is considered as one of the fastest growing segment in the market with substantial revenue generation in the last few years. The viral vector segment is further divided into multiple sub-segments such as retrovirus, adenovirus, adeno-associated virus, vaccinia virus, herpes simplex virus and others. Growing popularity of the adenovirus sub-segment is attributed to their reduced immunogenicity. The non-viral vectors segment has also witnessed substantial growth owing to their capability to reduce or eliminate viral toxicity.
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The market is divided into regional market segment such as North America, Europe, Asia-Pacific and Latin America. North America region has shown major growth in recent years owing to increase in the usage of genetic services, rise in the implementation of latest technologies in medicine & pharmaceutical sector, existence of well-established healthcare infrastructure in the region, and upsurge in the expenditure for health-care services. Asia-Pacific held second highest share in the gene therapy market displaying massive growth in the forecast period. Countries like China, India, Japan and Australia are leading Asia-Pacific market with rise in preference towards health care tourism and significant investment by leading industry players considering potential growth opportunities in the region.
The major players in the gene therapy market are UniQure N.V, Spark Therapeutics LLC, Bluebird Bio Co., Juno Therapeutics, Inc., GlaxoSmithKline Co., Celgene Co., Shire Plc, Sangamo Biosciences, Inc., Dimension Therapeutics, Inc., Voyager Therapeutics, Human Stem Cell Institute, Bristol Myer’s Squibb, and Chiesi Farmaceutici S.p.A.
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