Jan 25, 2023

Udaipur, INDIA 20 Maxwell House, Singapore, Jan. 25, 2023 (GLOBE NEWSWIRE) -- According to the latest report published by Growth Plus Reports, the global gene therapy market is expected to clock US$ 4.64 billion by 2030 and to grow at a CAGR of 8.1% during the forecast period. Gene therapy focuses on cell reprogramming to provide a novel remedy/treatment method for a disease by replacing the damaged gene. This sort of treatment shows promising outcomes for a variety of diseases or disorders, including heart disease, hemophilia/acquired hemophilia, cancer, and many more. Gene therapy has several uses, the most important of which is the development of vaccines for various infectious or chronic illnesses. This exclusive information is published by Growth Plus Reports in its report titled “Gene Therapy Market – Global Outlook & Forecast 2022-2030” Get a Sample Copy of the Research Report: https://www.growthplusreports.com/inquiry/request-sample/gene-therapy-market/8079 Market Drivers The market's expansion can be attributed to the rising prevalence of chronic diseases such as cancer, central nervous system disease, metabolic disorders, cardiovascular disease, and so on. Additionally, the growing R&D activity has resulted in the continuously increasing introduction of innovative products/therapies and the enhancement of the product pipeline. Furthermore, rising financings such as IPOs (initial public offerings), venture capital financing, follow-on financing, and expanding partnerships and acquisitions significantly influence market growth. For instance, in 2022, Bayer AG and Mammoth Biosciences Inc. announced a strategic collaboration for the development of novel in-vivo gene editing technology. Bayer's gene therapy platform is strengthened further and Mammoth's vision of unlocking the full potential of novel CRISPR systems is also being supported. Additionally, Mammoth is expected to receive an upfront payment of USD 40 million, with potential future payments of more than a billion USD upon successful achievement. The gene therapy market has been analyzed from four perspectives: vector type, delivery type, application, end-users, and region. Excerpts from ‘By Vector Type Segmentation’ The vector type in the global gene therapy market has been bifurcated into: Viral Non-Viral Non-viral vector has the largest revenue share in the market as this is a safer treatment approach with a cheap cost, making it accessible to those with limited financial resources. This segment also possesses a high gene capacity, a low immunogenic response, a high transfection efficiency, and the ability to be chemically adaptable. Furthermore, rising cancer and other targeted illness cases and increased funding in gene therapy also contribute to the growth of this segment, thereby propelling the gene therapy market. While viral vectors are the most effective in gene therapy, they offer limited applications as a result of the limitation of chemical flexibility, thus depicting a steady growth during the projected timeline. Excerpts from ‘By Region Segmentation’ Geographically, the global gene therapy market has been segmented into: North America