The Asia-Pacific gene therapy market will power at a rate of 36.8% in the years to come to reach USD 6,931.5 million by 2030, as stated by a market research institution, P&S Intelligence.
The factors responsible for market growth are the growing gene therapy development activities, surging chronic diseases burden, and growing count of clinical trials with positive results.
The adenovirus category will grow the fastest growth in the years to come, on the basis of vector type. This will mostly be as a result of the high level of expressions and high transduction competence of these kind of vectors.
The carcinoma category led the industry. As per the GLOBOCAN, 2.3 million cases of cancer were stated in Southeast Asia and 1.4 million people lost their lives as a result of it in 2020.
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Likewise, the extensive variety of portfolio of drugs obtainable for treating cancer has fashioned more requirement of such therapies for example Gendicine, which was the primarily approved gene therapy.
The pharma and biotech companies held the larger share in the gene therapy industry, and it will maintain the position in the years to come. This has a lot to do with the increasing R&D investments, accompanied by the active usage of gene therapy for numerous disease applications.
China had the highest revenue in the industry and it will maintain its position in the future. This has a lot to do with the increasing count of strategic expansions amongst main companies and snowballing occurrence of cancer and rare ailments.
The current positive results of gene therapy studies and clinical trials will encourage biopharma companies to emphasize on inflowing the market. For example, in May 2020, AGTC announced the positive interim Phase I/II clinical trial results, which supported decide the dose to be employed in its ongoing clinical trial on patients with XLRP as a result of alterations in the RPGR gene.
The increasing participation of private and public research institutions in gene therapy research is responsible for powering the growth of the industry in APAC. As a result of the rapid tech progressions over decades, the expansion of gene therapies has recuperated momentous interest.
This procedure is being proficient by the optimization of vectors, for example lentiviruses and retroviruses, by the initiation of novel procedures, for example induced pluripotent stem cells, in combination with the prevailing models of gene editing and even by trials in germ cells.
It is because of the positive clinical trials results, the requirement for gene therapy in the APAC region will continue to increase in the years to come.