Gene therapy is a medical treatment which involves the replacement of defective cells with healthy cells to treat a disease. It also helps in treating various genetic diseases in which the mutated genes are replaced with the functional genes. Gene therapy possesses a great untapped potential that can help eradicate diseases. Experts in the field believe that this therapy will be particularly helpful for people suffering from hereditary diseases such as Huntington’s disease, Alzheimer’s disease, Parkinson’s disease, and several others. Gene therapy finds a wide range of applications in treating genetic disorders, cardiovascular diseases (CVDs), infectious diseases, neurological diseases, oncology, and others.
Oncology: The Dominant Application Segment
Oncology is the dominant application segment for gene therapy. This growth is attributed to the growing focus on R&D activities by various academic institutes and international players in the field of gene therapy in order to find cure for difficult-to-treat cancers. Moreover, factors such as supportive government initiatives, rising cases of cancers, increased investments for R&D from various government and private organizations are also boosting the growth of this application segment. Other application areas such as CVDs, clinical trials, and infectious diseases are also anticipated to witness a rapid development in the forthcoming years.
One of the recent updates in the field of gene therapy includes the successful clinical trial of gene therapy for the treatment of Idiopathic Pulmonary Fibrosis or IPF. In 2018, experts at the Telomere and Telomerase Group at the Spanish Cancer Research Centre completed a medical trial and successfully cured IPF in mice with the assistance of gene therapy that lengthens the telomeres.
Market Overview
According to the findings of a research report made available by Radiant Insights, Inc.; the global gene therapy market is expected to expand at a healthy growth rate in the near future. The key factors driving the growth of this market include increasing investments for R&D activities and rising awareness about gene therapy. In addition, globally increasing target population base is also predicted to boost the gene therapy market demand over the next few years. Furthermore, technological advances in the field are also likely to contribute towards market growth. Human Stem Cells Institute; Sibiono GeneTech Co. Ltd.; Spark Therapeutics, LLC; and ViroMed Co. Ltd. dba VM BioPharma are some of the major companies operating in the market.
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