The major players in the DNA-based gene therapy market are Celsion, Wave Life Sciences, Imugene, Caperna, Phylogica, Protagonist Therapeutics, Benitec Biopharma, EGEN, BioMedica, Transgene and Copernicus Therapeutics.
NEW YORK, May 30, 2022 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of “Global DNA-Based Gene Therapy Market Report 2022” – https://www.reportlinker.com/p06280834/?utm_source=GNW
The global DNA-based gene therapy market is expected to grow from $0.62 billion in 2021 to $0.68 billion in 2022 at a compound annual growth rate (CAGR) of 9.5%. The market is expected to grow to $0.96 billion in 2026 with a compound annual growth rate (CAGR) of 9.0%.
The DNA-based gene therapy market consists of sales of DNA-based gene therapy products and services, and gene therapy is used to correct defective genes responsible for disease development.
Furthermore, DNA-based therapies are used to treat genetic disorders and diseases for which there is no permanent cure such as anemia, sickle cell, cystic fibrosis, diabetes, and thalassemia.
The main techniques in DNA-based gene therapy are antigen and antigen, short inhibitory sequences, gene transfer therapy, nucleoside analogues, ribozymes, aptamers, and others. It is used to treat infections with human immunodeficiency virus (HIV), hepatitis B virus (HBV), hepatitis C virus (HCV), cytomegalovirus (CMV).
Various applications include oncology, muscular dystrophy/muscular disorders and rare diseases used by end users such as hospitals, clinics, academic and research institutes.
Increased financial support by the government and companies is expected to increase the demand for DNA-based gene therapy. DNA therapies are analogues of the naturally occurring acids or proteins that are responsible for gene expression.
Conventional therapies contain no cure for diseases such as cystic fibrosis, hemophilia, sickle cell anemia, thalassemia, and diabetes, and genotyping and molecular target identification form the backbone of these classes of drugs.
DNA drugs have greater potential in treating these diseases, as they target the genetic basis of diseases and have a permanent cure, and it is expected that the rise in financial support by the government and companies dealing in the gene therapy market will contribute to an increase in the demand for DNA-based gene therapies.
For example, in October 2019, the US National Institutes of Health (NIH) announced plans to invest $100 million over the next four years to treat HIV and sickle cell disease with gene therapies. Government support for gene therapies will contribute to market growth.
Strict regulations imposed on gene therapies raise the price of gene therapies, which in turn hinders the demand for DNA-based gene therapies. Excessive regulatory oversight creates an expensive and lengthy approval pathway that increases expenses.
According to the Foundation for Economic Education (FEE), unlike other drugs approved or regulated by the Food and Drug Administration (FDA), gene therapies are subject not only to the FDA’s regulatory structure, but also to the Recombinant DNA Advisory Committee and the Bureau of Biotechnology Activities. Also, according to a FEE estimate, an approved gene therapy drug costs nearly $5.0 billion, which is five times higher than the average cost of FDA approval. The high cost of gene therapy drugs puts them beyond the reach of financial people. This scenario is expected to limit the market growth of the DNA-based gene therapy market.
The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.
The countries covered in the DNA-based gene therapy market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06280834/?utm_source=GNW
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