The Gene Therapy Market
deals with the development of medical technology to provide better genetic treatment for genetic disorders. Gene therapy can be defined as the treatment of a disease by modifying, replacing or supplementing a genetic combination that is absent or abnormal and is responsible for causing the disease.
Basically, gene therapy is also called as gene replacement therapy or DNA therapy. Gene therapy methods are of two types; they are Somatic gene therapy and Germline gene therapy. This has emerged as one of the most sought after research objectives in order to cure incurable diseases. Increasing instances of HIV, Cancer and other difficulties to cure diseases are driving the demand for gene therapy, in turn drives high growth for the Gene Therapy Market.
The growing popularity of DNA vaccines has positively impacted the growth of this Gene Therapy Market, and there is a high possibility of gene therapy being practiced in clinics in the next few years, as encouraging results are emerging from the phase II/III trials. Gene therapy can be potentially used to treat some diseases like cancer, HIV, and cystic fibrosis. It is anticipated that the clinical trial and biotechnology industry will largely benefit from gene therapy in the long run.
However, the growth of the Gene Therapy Market is largely dependent on the regulatory environment, and on approvals from industry bodies. Currently, most gene therapy products are still in the clinical trials phase II and phase III, of which a majority focuses on the treatment of cancer and cardiovascular diseases.
North America is dominating the Gene Therapy Market with highest market share due to higher research and development activities by pharmaceutical industry in the region. Asia-Pacific is holding the next position due to higher faster growing pharma industry which is investing heavily in research and development activities for advanced treatment. Also, this region is expected to remain as the fastest growing region till the end of the forecast period, due to increasing presence of global giants from pharma industry in the region.
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