The Asia-Pacific (APAC) gene therapy market revenue stood at $349.1 million in 2020, and it is predicted to rise to $6,931.5 million by 2030. The market will also exhibit a CAGR of 36.8% between 2021 and 2030, as per the estimates of the market research firm, P&S Intelligence. The factors driving the market expansion are the surging gene therapy activities, rising incidence of chronic diseases, and increasing number of clinical trials being conducted with positive results across the region.
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As per the data, the company’s engineered RPGR constructs and proprietary adeno-associated viruses (AAV) vector were well tolerated and had various beneficial effects of the disease markers in a canine model of XLRP. Additionally, the treated patients showed massive improvements in their visual functions. Besides the positive results of the clinical trials, the increasing therapy development activities being carried out by various private and public research companies are also driving the expansion of the Asia-Pacific gene therapy market.
Between these, the in-vivo category held the larger share in the market between 2015 and 2020, primarily due to the high efficacy and less difficulty associated with this gene therapy method. When vector type is taken into consideration, the APAC gene therapy market is classified into herpes simplex virus (HSV), lentivirus, non-viral, and adenovirus categories. Out of these, the adenovirus category is predicted to exhibit the fastest growth in the market in the coming years.
The APAC gene therapy market is expected to exhibit the highest growth rate in China in the upcoming years. This is attributed to the increasing strategic development activities being announced by the key players and the growing prevalence of rare diseases and cancer in the country. As per an article published in the South China Morning Post in April 2019, around 20 million people are diagnosed with rare diseases in mainland China.
