NEW YORK, Jan. 30, 2020 /PRNewswire/ --

High incidence of cancer & other target diseases is a major factor driving the growth of the gene therapy market

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The global gene therapy market is projected to reach USD 13.0 billion by 2024 from USD 3.8 billion in 2019, at a CAGR of 27.8% during the forecast period. The high incidence of cancer and other target diseases, availability of reimbursement, and the launch of new products are the major factors driving the growth of this market. In addition, the strong product pipeline of market players is expected to offer significant growth opportunities in the coming years. However, the high cost of treatment is expected to hamper market growth to a certain extent in the coming years.

Neurological diseases segment accounted for the largest share of the gene therapy market, by indication, in 2018Based on indication, the market is segmented into neurological diseases, cancer, hepatological diseases, Duchenne muscular dystrophy, and other indications.The neurological diseases segment accounted for the largest share of the market in 2018.

This can be attributed to the increasing number of gene therapy products being approved for the treatment of neurological diseases and the high market penetration of oligonucleotide-based gene therapies.

Viral vectors segment to register the highest growth in the gene therapy market during the forecast periodThe gene therapy market, by vector, has been segmented into viral and non-viral vectors.In 2018, the non-viral vectors segment accounted for the largest share of this market.

However, the viral vectors segment is estimated to grow at the highest CAGR during the forecast period, primarily due to the increasing demand for CAR T-based gene therapies and the rising incidence of cancer.

North America will continue to dominate the gene therapy market during the forecast periodGeographically, the market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World.In 2018, North America accounted for the largest share of the gene therapy market, followed by Europe.

Factors such as the rising prevalence of chronic diseases, high healthcare expenditure, presence of advanced healthcare infrastructure, favorable reimbursement scenario, and the presence of major market players in the region are driving market growth in North America.

The primary interviews conducted for this report can be categorized as follows: By Company Type: Tier 1 - 32%, Tier 2 - 44%, and Tier 3 - 24% By Designation: C-level - 30%, D-level - 34%, and Others - 36% By Region: North America - 50%, Europe - 32%, Asia Pacific - 10%, and Rest of the World - 8%

List of companies profiled in the report Amgen, Inc. (US) Biogen (US) Novartis AG (Switzerland) Gilead Sciences, Inc. (US) Spark Therapeutics, Inc. (US) MolMed S.p.A. (Italy) Orchard Therapeutics plc. (UK) SiBiono GeneTech Co., Ltd. (China) Alnylam Pharmaceuticals, Inc. (US) Human Stem Cells Institute (Russia) AnGes, Inc. (Japan) Dynavax Technologies (US) Jazz Pharmaceuticals, Inc. (Ireland) Akcea Therapeutics (US) bluebird bio, Inc. (US) uniQure NV (Netherlands) AGTC (US) Mustang Bio (US) Cellectis (France) Poseida Therapeutics, Inc. (US) Sangamo Therapeutics (US)

Research Coverage:This report provides a detailed picture of the global gene therapy market.It aims at estimating the size and future growth potential of the market across different segments (by vector, indication, delivery method, and region).

The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.

Key Benefits of Buying the Report:This report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall gene therapy market and its subsegments.It will also help stakeholders better understand the competitive landscape and gain more insights to position their business better and make suitable go-to-market strategies.

Also, this report will enable stakeholders to understand the pulse of the market and provide them with information on the key market drivers, challenges, and opportunities.

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The global gene therapy market is projected to reach USD 13.0 billion by 2024 from USD 3.8 billion in 2019, at a CAGR of 27.8% - PRNewswire

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