In a recent published report, Kenneth Research has updated the market report for Gene Therapy Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Gene Therapy Market products.
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According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
Gene Therapy Market in its database of market research reports which provides its readers an in-depth analysis on the latest trends, growth opportunities and growth drivers that are associated with the growth of the market. The report additionally shares critical insights on Gene Therapy Market, along with the compound growth rate (CAGR) of the market for a projected period between 2021 and 2027. The report also includes analysis of the market by utilizing different analytical tools, such as PESTEL analysis and Porter’s five forces analysis. These tools also provide an in-depth analysis on the micro and macro-environmental factors that are associated with the growth of the market during the forecast period.
Kenneth Research recently added a report on Gene Therapy Market in its database of market research reports which provides its readers an in-depth analysis on the latest trends, growth opportunities and growth drivers that are associated with the growth of the market. The report additionally shares critical insights on Gene Therapy Market, along with the compound growth rate (CAGR) of the market for a projected period between 2021 and 2027. The report also includes analysis of the market by utilizing different analytical tools, such as PESTEL analysis and Porter’s five forces analysis. These tools also provide an in-depth analysis on the micro and macro-environmental factors that are associated with the growth of the market during the forecast period.
Gene therapy involves the targeting of faulty and missing genes for complete disease cure. Incidences of cancer are increasing, and the local governing bodies are taking required initiatives to handle the problem, by the development of new healing and preventive gene therapeutics.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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According to the World Bank, more than 2,300 clinical trials on gene therapy were carried out in 2017. This led to the attainment of higher information about the potential applications and working of gene therapies. Besides, gene therapy is becoming a significant sector in bioscience industry research and can be produced on a commercial scale, which is projected to further expand its application range. Yescarta – axicabtagene ciloleucel is the most recently approved gene therapeutics available in the global market that treats large B-cell lymphoma
The global gene therapy market is estimated to grow on the back of rising healthcare expenditure with increasing demand for efficient disease treating practices coupled with growing technological developments and discoveries. The World Bank reported a rise in the global current health expenditure (% GDP) from 9.453% in 2011 to 10.023% in 2016.
Increasing incidences of chronic oncogenic diseases such as cancer with an estimated new case of 18.1 million in 2018 as per the International Agency for Research on Cancer (IARC), is anticipated to display rapid growth in the application of gene therapy technologies in the upcoming years.
Additionally, increasing the application of gene therapy products for the treatment of various cardiovascular and blood disorders is also expected to back the rampant growth in the upcoming years. Moreover, government initiatives to eliminate chronic diseases is anticipated to aid the growth in upcoming years. For instance, the World Health Organization (WHO) launched an initiative to eliminate hepatitis completely by 2023.
Furthermore, experiments concerning gene therapy technologies in order to explore the benefits for various medical applications is another factor expected to propel the market growth.
Rising geriatric population across the globe holds immense opportunities for gene therapy products in the upcoming years. According to the World Bank, the population aged 65 and above, increased from 7.64% in 2010 to 8.93% of the global population in 2018. Moreover, change in climatic conditions and increase in sedentary lifestyles has led to drastic demographic changes in developed and developing countries, resulting in growing number of disease cases associated with aging. This aspect is attributed to contribute considerably to the market growth and thereby is expected to increase the adoption of gene therapy products across the globe.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”
The patient pool suffering from diabetes is expanding with growing aging population. The International Diabetes Federation reported that approximately 425 million adults (20-79 years) were living with diabetes in 2017, which is estimated to increase by 2045 to 629 million. Application of gene therapy in patients suffering with diabetes, wherein replacement of a single gene is expected to restore the function of beta cells, which secrete insulin and regulate the blood glucose level of the body is also envisaged to boost the market significantly, during the forthcoming decade.
Key Answers Captured in Report?
- Which geography would have better demand for products/services?
- What are the strategies adopted by big players in the regional market?
- Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
- What is the current & expected market size in the next five years?
- What is the market feasibility for long term investment?
- What opportunity the country would offer for existing and new players in the market?
- What is the risk involved for suppliers in the geography?
- What factors would drive the demand for the product/service in the near future?
- What is the impact analysis of various factors in market growth?
Download Sample of This Strategic Report-:
https://www.kennethresearch.com/sample-request-10210547
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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