Gene therapy has evolved into a favorable treatment against recessive genetic disorders and acquired genetic diseases. An advanced medical procedure, gene therapy essentially involves modification of a person’s genes to cure or treat various types of disorders and infectious diseases. The treatment holds immense potential to aid in the repair, restoration, or reconstruction of defective genetic material. With new research and developments in the administration of gene therapy, the medical fraternity is hopeful to find cures for life-threatening illnesses. Currently, the capacity of gene therapy is grounded in facilitating desired gene improvement or inducing therapeutic effect through site-specific modifications. In recent years, the prevalence of cancer in surging worldwide which has emerged as the foremost contributor to the expansion of the global gene therapy market. Owing to its promising life-saving potential, research on gene therapy attracts sound funding from multiple sources, further strengthening its growth scope across the global market.

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Gene Therapy Market Ripens with Adoption of Next-Gen Technologies and Public Support

The future of the gene therapy market rests on advanced medical technology. It has succeeded in inspiring hope among medical practitioners due to its potential to treat previously-incurable diseases. This has led companies across the globe to aggressively pursue experiments and trials in gene therapy by acquiring novel technologies and entering into joint partnerships. Further, the positive outcomes of genetic medicine have also roused the interests of government agencies in the gene therapy market, leading them to frame favorable regulations and policies. Thus, in the study period, the global gene therapy market is projected to draw high returns and investments.

Cost and Safety Factors Pertaining to Gene Therapy Hamper Rapid Market Penetration

Over the past few years, the gene therapy market has established itself as a lucrative business and an effective medical treatment. However, concerns around treatment cost and safety are expected to become pressing challenges in the years to come. Gene therapy is an incredibly expensive procedure which suggests why a substantial share of existing treatments are patient-customized. Moreover, people raise questions about the credibility of the treatment itself. Since gene therapy involves gene modification, people carry fear and anxiety over its overall safety. Despite these concerns, propelled by encouragement from the scientific community, the global gene therapy market is projected to record considerable growth over the forecast period.

North America and Europe Create Favorable Environment for Innovation in Gene Therapy

North America, followed by Europe, have emerged as the strongest contenders in the regional landscape. In these regions, strong regulatory framework, sophisticated research facilities, support from government agencies, and presence of renowned biopharma companies creates a suitable environment that enables innovation in the gene therapy market. In the near future, the combination these is poised to open new revenue streams in these regions.

Leading Companies Across Global Gene Therapy Market

World over, the major companies in the gene therapy market include CRISPR Therapeutics, Asklepios BioPharmaceutical, Passage Bio, Sangamo Therapeutics, Homology Medicines, Intellia Therapeutics, Pfizer, Poseida Therapeutics, Editas Medicine, Translate Bio, Prevail Therapeutics, Kura Oncology, Replimune, Roche, Evox Therapeutics, Krystal Biotech, StrideBio, Generation Bio, Mediphage Bioceuticals, Bluebird Bio, and Cardior.

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