GENE THERAPY MARKET ANALYSIS

Market Challenges And Opportunities

Demand for gene therapy is significantly increasing due to increasing number of patients suffering from hereditary disorders, cancer, HIV, and various chronic diseases. For instance, 2018 American Cancer Society report showed cancer was responsible for 609,640 deaths in the U.S. Moreover, in 2017, WHO reported 1.0 million deaths were caused due to HIV-related illnesses worldwide. Increasing technological developments, innovations, and clinical and pre-clinical trials. For instance, According to published article in 2014 Regenerative Medicine reports 4749 registries of clinical trials related to stem cell treatment. Several diseases are likely to propel growth of the gene therapy market size during the forecast period. Moreover, increasing research and development funding by government agencies and commercial market players for the development of innovative, efficient, and safer gene therapy practices is boosted the market growth. For instance, 2017 National Institutes of Health was funded US$ 1,644 million for stem cell research. Furthermore, growing awareness and community acceptance of gene therapy for various disease treatments is propelling growth of the market.

However, unwanted immune responses related to treatment, concerns regarding unethical use of gene therapy and high cost associated with the treatment can hamper the market growth.