LONDON, March 15, 2016 /PRNewswire/ -- Gene therapy is a therapeutic technique which replaces damaged proteins in the cell by artificially introducing the DNA into a cell. Majority of the metabolic or genetic disorders are a consequence of either a direct genetic aberration or a dysfunctional/non-functional protein. The attempt to use nucleic acids to correct or erase the genes causing a particular disease is the basis of gene therapy. Despite the fact that gene therapy has not contributed fundamentally to the global pharmaceutical market yet, it is expected to grow at a fast pace over the next decade.
As indicated by the new estimation carried out in our most recent study, the global gene therapy industry can possibly turn into a multi-million dollar industry by the end of 2020, as new products, particularly those in the advanced stage of clinical studies or with pending approvals, may enter the market to boost the growth.
According to RNCOS' new research report "Global Gene Therapy Market Outlook 2020", a major focus has been on the ongoing clinical trials for the development of innovative products. In this context, the study provides a comprehensive overview of various aspects of the clinical trials in the gene therapy market, such as phases, geographies, vector types, etc.
The gene therapy market has very few marketed products. The market is majorly in the research phase from which most of its revenue is generated. The report also provides the sales of major marketed gene therapy products and the list of the products in clinical/pre-clinical research along with their clinical phases.
The companies operating in the gene therapy market are also receiving various funding, grants, and investment from government bodies and venture capitalist firms, which are aiding them to develop new products. The study highlights the applications for which the investments have been received.
Primarily, the gene therapy market is dominated by oncology applications with several companies and academic institutions focusing on novel and 'difficult to treat' cancers. Other therapeutic areas seeking developments in gene therapy include monogenic diseases, cardiovascular diseases, infectious diseases, inherited blindness and neurological diseases. The report provides the market analysis of key therapeutic areas along with the forecast till 2020.
North America continues to have the maximum number of clinical trials in the gene therapy segment. This is a major reason for the dominant position of North America in the gene therapy market. Based on the geography, the market is divided into four regions, namely, North America, Europe, Asia and Rest of the World. The report provides the market for each of the geography, along with its forecast till 2020.
RNCOS, in its report, further covers how major trends and drivers, mainly gene silencing, advanced therapies combining gene therapy and stem cell technology, immunodeficiency syndromes, growing interest of venture capital firms, etc. will propel the industry's growth. An analysis has also been done of a few factors limiting the growth of the industry. The report also provides insights regarding the strategies adopted by the players from 2013 to 2015 for enhancing their market share. Finally, with a view to understanding the competitive landscape, the profiles of key market players have been included in the report to present a complete picture of the global gene therapy market.
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