• Market Definition
• Research Objective
• Pipeline Analysis
• Clinical Trial Analysis
Global Gene Therapy Market Outlook
• Market Overview – Market Size and Forecast (2018–2027)
• Market Overview by Regions
• Policy & Regulatory Landscape
• Risk Analysis
• Market Drivers
• Market Challenges
Company Profiles of Top 5 Players
The increasing risk of disorders including cancer, diabetes and cardiovascular diseases (CVDs) is anticipated to drive the demand for gene therapy, thereby increasing the market growth during the forecast period. The World Health Organization estimates that Europe accounts for about 23.4% of the cancer cases that occur globally. Moreover, the cancer prevalence in the Americas was found to be 21% with 14.4% cancer deaths worldwide. Cancer incidence in Asia and Africa was about 48.4% and 5.8% respectively. The rising number of cancer patients in various regions across the globe as well as the rising research and development activities in order to develop advanced forms of gene therapy is anticipated to boost the market growth in the upcoming years. The growing geriatric population and increasing expenditure on healthcare further are additional factors estimated to drive the market growth further.
The high cost of treatments, especially for the people belonging to lower income groups in developing countries, is predicted to become a major growth restricting factor for the gene therapy market. Further, the therapy is still developing and has caused a few deaths of the patients during clinical trials in the past. This leads to a reduction in adoption of this therapy by patients, which is estimated to be another limiting factor for the market growth.
The global gene therapy market is segmented by regions into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa. At the global level, the market is predicted to grow on the back of growing healthcare expenditure along with an increasing demand for improved treatment practices all over the world. As per the World Bank, the global current healthcare expenditure (% GDP) was estimated to rise from 9.453% in 2011 to 10.023% in 2016.
The gene therapy market in North America is estimated to observe a significantly high growth on account of rising incidences of diseases such as cardiovascular disease in the region which is driving the demand for effective prevention and treatment methods. In 2018, the American Heart Association reported that around 2,300 Americans die from cardiovascular disease every day. The market in the United States is anticipated to grow exponentially as a result of growing research and development activities in the region along with the expanding applications of gene therapy. Gene therapy market in Europe is estimated to expand substantially on account of growing healthcare expenditure in the region, mainly in countries such as Germany. This can be attributed to the increasing cases of disorders in the region which raises the demand for application of modern technologies in hospitals. CLICK TO DOWNLOAD SAMPLE REPORT
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Author Credits: Radhika Gupta, Shivam Bhutani