The main driving factors for the Asia-Pacific gene therapy market are the growing gene therapy development and clinical trial activity, rising prevalence of chronic diseases, strategic developments among market players, and public and private initiatives to raise awareness on this issue.
New York, Aug. 18, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Asia-Pacific Gene Therapy Market" - https://www.reportlinker.com/p06129688/?utm_source=GNW
As a result, the industry size is set to reach $6,931.5 million by 2030, at a 36.8% CAGR during 2021–2030, according to the market research study published .
The APAC gene therapy market was moderately affected by the COVID-19 pandemic because of the lockdowns, movement restrictions, and halt of clinical trials. But, as the clinical trials were halted briefly, the market recovered quickly.
Ex-vivo and in-vivo are the bifurcations within the type segment of the APAC gene therapy market. Of these, in-vivo was the larger category in 2020 because this type of gene therapy is more effective and easier to administer.
The categories of the APAC gene therapy market on the basis of vector type are adenovirus, herpes simplex virus (HSV), non-viral, and lentivirus. The higher efficacy of adenoviral vectors will propel the adenovirus category at the highest CAGR during the forecast period.
The APAC gene therapy market, based on end user, is categorized into academic institutes and research centers and pharmaceutical and biotechnology companies. Among these, in 2020, the market was dominated by pharmaceutical and biotechnology companies, as they are receiving heavy funding, conducting numerous clinical trials, and bringing about advancements in their products.
During the forecast period, China will likely grow the fastest in the APAC gene therapy market due to the rising incidence of rare diseases and cancer and increasing strategic development activity among market players. For instance, rare diseases affect almost 20 million people in the country each year, as per an April 2019 article in South China Morning Post; as a result, the demand for gene therapies is surging here.
APAC gene therapy market players are launching new products and seeking regulatory approvals for the same.
For instance, in March 2020, Zolgensma (onasemnogene abeparvovec), developed by Novartis AG, received the approval of the Japanese Ministry of Health, Labour and Welfare for treating spinal muscular atrophy (SMA) in patients less than two years of age, including those diagnosed as pre-symptomatic. Zolgensma gene therapy is designed to replace the functioning of the non-working or missing SMN1 gene, thereby treating the disease at the source.
In the same vein, in May 2019, Novartis AG launched Kymirah in Japan for the treatment of refractory B-cell acute lymphoblastic leukemia (ALL).
The most-significant firms in the APAC gene therapy market are Novartis AG, Shanghai Sunway Biotech Co. Ltd., Sibiono GeneTech Co. Ltd., Kolon Life Science Inc., Amgen Inc., and AnGes Inc.
Read the full report: https://www.reportlinker.com/p06129688/?utm_source=GNW
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