The global Gene Therapy Market was valued at $584 million in 2016, and is estimated to reach $4,402 million by 2023, registering a CAGR of 33.3% from 2017 to 2023. Gene therapy is a technique that involves the delivery of nucleic acid polymers into a patients cells as a drug to treat diseases. It fixes a genetic problem at its source. The process involves modifying the protein either to change the genetic expression or to correct a mutation.
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The gene therapy market is a widely expanding field in the pharmaceutical industry with new opportunities. This has piqued the interests of venture capitalists to explore this market and its commercial potential. Major factors that drive the growth of this market include high demands for DNA vaccines to treat genetic diseases, targeted drug delivery, and high incidence of genetic disorders. However, the stringent regulatory approval process for gene therapy and the high costs of gene therapy drugs are expected to hinder the growth of the market.
Kite Pharma, Inc.
Spark Therapeutics Inc.
Bluebird bio Inc.
Applied Genetic Technologies Corporation
NewLink Genetics Corp.
Research Methodology regarding Gene Therapy Market
Research methodology regarding the Gene Therapy Market borderlines on the specific procedures or techniques used to identify, select, process, and analyze information. A robust research methodology is carried out with an extreme systematic and a theoretical analysis to the said field of study. It encompasses concepts such as the required paradigm, theoretical models, quantitative and qualitative techniques. All possible parameters that may affect the markets covered in this research study are accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. To get a better hold on the market size of the current report, both, primary as well as secondary research methods are applied.
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Questions the Gene Therapy Market Report answers:
- What is the size of occupied by the prominent leaders for the forecast period 2023?
- Which companies are dominating the competitive landscape across different region and what strategies have they applied to gain a competitive edge?
- What are the major factors responsible for the growth of the Gene Therapy market across the different regions?
- What are the challenges faced by the companies operating in the Gene Therapy Market?
- What are the future prospects for the Gene Therapy Market industry in the coming years 2023?
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This post was originally published on Space Market Research