Moreover, government initiatives to eliminate chronic diseases is anticipated to aid the growth in upcoming years. Additionally, increasing 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. Increasing incidences of chronic oncogenic diseases such as cancer with an estimated new cases of 18.1 million in 2018 as per the International Agency for Research on Cancer (IARC), is anticipated to display a rapid growth in application of gene therapy technologies in the upcoming years. The World Bank reported a rise in the global current health expenditure (% GDP) from 9.453% in 2011 to 10.023% in 2016. 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. Yescarta - axicabtagene ciloleucel are the most recently approved gene therapeutics available in the global market that treats large B-cell lymphoma. 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. This led to attainment of higher information about the potential applications and working of gene therapies. Incidences of cancer are increasing, and the local governing bodies are taking required initiatives to handle the problem, by development of new healing and preventive gene therapeutics.Īccording to the World Bank, more than 2,300 clinical trials on gene therapy were carried out in 2017. DUBLIN-( BUSINESS WIRE)-The "Global Gene Therapy Market Outlook and Projections, 2019-2027" report has been added to 's offering.
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