December 14, 2020 08:07 ET | Source: Fortune Business Insights

Pune, India, Dec. 14, 2020 (GLOBE NEWSWIRE) -- The report mentions that the Gene Therapy Market size was USD 3.61 billion in 2019 and is projected to reach USD 35.67 billion by 2027, exhibiting a CAGR of 33.6% during the forecast period. The global gene therapy market is set to gain momentum from the rising incidence of different types of cancer. The field of this therapy is undergoing several technological advancements that would help in treating cancer in those patients who are at high risks of getting affected by this disease through genetic mutations. In 2019, the U.S. generated USD 2.16 billion in terms of revenue. The country is expected to dominate throughout the coming years stoked by the increasing usage of advanced gene therapies for the treatment of rare conditions.

KEY INDUSTRY DEVELOPMENTS:

Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/gene-therapy-market-100243

Increasing Innovations & Research Activities to Boost Growth

The U.S Food and Drug Administration (FDA) stated that it is expecting to receive more than 200 applications of this therapy by the end of 2020. This showcases that the rising number of research studies and innovations in this field would affect the gene therapy market growth positively in the near future. In North America, almost 208 companies are currently operating in this market. In addition to this, the Alliance for Regenerative Medicine declared that as of 2018, approximately 259 potential drug candidates are under Phase I clinical trials across the globe.

However, the outbreak of the COVID-19 pandemic is presently impacting the field of research. According to the director of the Office of Tissues and Advanced Therapy (FDA) named Wilson Brayan, nowadays the officials are prioritizing only those drugs that are associated with coronavirus.

To get to know more about the short-term & long-term impact of COVID-19 on this market, please click here: https://www.fortunebusinessinsights.com/industry-reports/gene-therapy-market-100243

The U.S. to Dominate Owing to Presence of Favorable Policies

In 2019, the U.S. generated USD 2.16 billion in terms of revenue. The country is expected to dominate throughout the coming years stoked by the increasing usage of advanced gene therapies for the treatment of rare conditions.

Besides, the presence of favorable reimbursement policies and guidelines would also help in propelling the market growth here. As this type of treatment is not legal in several developing nations, industry giants are emphasizing on the U.S. for launching their products.

Europe, on the other hand, is anticipated to grow significantly backed by the adoption of unique treatment options. Asia Pacific is set to hold a comparatively lower share on account of the decreasing usage of gene therapy because of its expensive nature.

Quick Buy - Gene Therapy Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/100243

List of Key Players operating in Gene Therapy Market:

Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/gene-therapy-market-100243

Global Gene Therapy Market Segmentations:

By Application

Oncology

Neurology

Others

By Vector Type

Viral

Non-viral

By Distribution Channel

Hospitals

Clinics

Others

By Geography

U.S.

Europe (U.K., Germany, France, Italy, Spain, and Rest of Europe)

Asia-Pacific (Japan, China, and Rest of Asia- Pacific)

Rest of World

Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/gene-therapy-market-100243

SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:

Have a Look at Related Reports:

India Peritoneal Dialysis Market Share & Industry Analysis, By Type (Continuous Ambulatory Peritoneal Dialysis (CAPD), Automated Peritoneal Dialysis (APD)), By Product (Devices (Cyclers/Machines), PD Solutions/Fluids, PD Sets, Catheters) Forecast, 2019-2025

Guidewire Market Share & Industry Analysis, By Product (Coronary Guidewire, Peripheral Guidewire, Urology Guidewire, Neurovascular Guidewire, and Others) By Material (Nitinol, Stainless Steel, and Others) By Coating (Coated and Non-Coated) By End User (Hospitals & Clinics, Diagnostic Centers, and Others) and Regional Forecast, 2019-2026

India Insulin Pumps Market Share & Industry Analysis, By Product (Insulin Pumps (Tethered Pumps and Patch Pumps) and Consumables (Reservoirs, Infusion Sets, and Others) and Region Forecast, 2019-2025

Lactose Market Share Trends & Industry Analysis, By Purity (Crude Lactose, Edible Lactose, and Refined-edible Grade Lactose), By Color (Yellow Lactose, Pale-yellow to White Lactose, and White Lactose), By Applications (Food, Feed, Infant Formula, and Pharmaceuticals), and Regional Forecast, 2019-2026

Contact Lenses Market Share & Industry Analysis, By Modality (Reusable and Disposable), By Design (Toric, Multi-focal, and Spherical), By Distribution Channel (Retail Stores, Online Stores, and Ophthalmlogists), and Regional Forecast, 2019-2026

About Us:

Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:

Fortune Business Insights Pvt. Ltd. 308, Supreme Headquarters, Survey No. 36, Baner, Pune-Bangalore Highway, Pune - 411045, Maharashtra, India.

Phone: US :+1 424 253 0390 UK : +44 2071 939123 APAC : +91 744 740 1245 Email: sales@fortunebusinessinsights.com Fortune Business Insights LinkedIn | Twitter | Blogs

Press Release: https://www.fortunebusinessinsights.com/press-release/global-gene-therapy-market-10136

Read more here:
Gene Therapy Market Worth USD 35.67 Billion at 33.6% CAGR; Rising Prevalence of Spinal Muscular Atrophy to Augment Growth: Fortune Business Insights -...