GENE THERAPY MARKET ANALYSIS

Regional Analysis

Gene Therapy Market – Regional Insights

On the basis of region, the global gene therapy market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the global gene therapy market, owing to well-established healthcare facilities, extensive research and development activities, high per capita healthcare expenditure, and promising medical reimbursement policies in the region. For instance, in 2018, the U.S government approved US$ 3 billion, for The National Institutes of Health research funds. Additionally, rising prevalence of cancer and various chronic diseases has boosted the demand for gene therapy in North America. For instance, According to 2018 American Cancer Society report cancer was responsible for 609,640 cancer deaths in U.S. alone, so Furthermore, Asia Pacific is projected to witness significant growth in the global gene therapy manufacturing market in the near future, owing to its owing to rising number of vulnerable population to various chronic diseases and wide availability of innovative products offering better solutions to the patients at marginally lower costs. For instance, in 2017, a group of researchers led by the National Cancer Center Japan (NCC), together with Toray Industries, Inc. developed a new method that could detect thirteen different cancer types with a single drop of blood.