The gene delivery systems market studied was anticipated to register a CAGR of 7.3%, over the forecast period. The significant factors attributing to the studied market's growth are the rising incidence and prevalence of chronic diseases and the increasing technological advancement in drug delivery.
- The increasing ongoing research and development in the field of genomics across the world have also been driving the growth of the market studied. Chronic diseases in developing countries are responsible for more fatalities.
- Some of the leading chronic diseases in developed countries, such as the United States, are cardiovascular diseases, infectious diseases, cancer, diabetes, and others. As per the CDC (Centers for Disease Control and Prevention), six in ten adults in the United States have a chronic disease.
- As per the statistics, globally, one in three adults has more than two or more chronic diseases, know as multiple chronic conditions. Gene delivery systems can help immensely in improving the human therapeutics used for the disease treatment.
- All these key factors are expected to boost the growth of gene delivery systems market over the forecast period.
Key Market Trends
Viral Gene Delivery Systems segment is Expected to Hold the Largest Share in the Gene Delivery Systems Market
- Dominant share is expected to be retained by the viral gene delivery systems, owing to the attributes, such as long-term expression, short term expression, and efficacy of therapeutic genes, and the rising advancement in technology over the last few years, which have opened up many opportunities for growth in the healthcare industry. The increase in the prevalence of chronic diseases, such as cancer and cardiovascular disorders, has also been aiding to the better market growth of gene delivery systems.
- The growing emphasis on governing and raising awareness about these treatments by the governments in different countries has resulted in the rapid acceptance of these gene delivery systems worldwide. The rising support for R&D, along with the strong market position of major biopharmaceutical market players, has created a better entry passage for new market entrants.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to maintain its supremacy in the overall gene delivery systems market, throughout the forecast period. The factors, such as the rising prevalence of chronic diseases in the region, technological advancement, and the domicile presence of major players in the region, have been driving the growth and responsible for the dominance of the region. The well-established biotechnology, nanotechnology, and pharmaceutical industry, coupled with rising awareness regarding advanced technologies for the treatment of genetic and chronic diseases among the population in this region, are among the key factors ensuring the dominance of the countries of this region.
The gene delivery systems market is highly competitive and consists of a few major players. In terms of market share, few of the major players have been dominating the market studied. And some prominent players have been vigorously making collaborations, acquisition, and launching new products with the other companies, in order to consolidate their market positions across the world. Some of the companies, which have been dominating the market studied are Pfizer Inc., Novartis International AG, F. Hoffmann-La Roche AG, Becton, Dickinson and Company, and Uniqure NV.
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