Osteoarthritis Gene Therapy Market Overview
According to the latest research by Future Market Insights, the osteoarthritis gene therapy market is expected to grow at a CAGR of 8.7%. The demand outlook is anticipated to develop steadfast during the forecast period.
The providers of this therapy are expected to go through a high demand phase that would offer them various opportunities for progress.
What are the major drivers of the Osteoarthritis Gene Therapy demand?
Osteoarthritis (OA) is one of the leading cause of disability in the western world. According to the Osteoarthritis Foundation International, the prevalence of OA is approximately 500 million people, globally.
The disease is characterized by being incurable, incurring immense treatment cost but responding very poorly to the treatment. The fact that OA is a debilitating disease and gene therapy provides a hope for treatment and pain reduction, there is a very high demand for this therapy, globally. This is one of the major driver for this market.
The presence of a large number of geriatric and target patients, as well as improved healthcare infrastructure in several countries in the Asia-Pacific region, is expected to open up market opportunities during the forecast period.
CRISPR/Cas9 system: The latest technique in gene therapy
A novel approach to gene editing using the CRISPR / Ca9 system bypasses disease-causing mutations in a gene, providing treatment for single-gene-related genetic diseases such as cystic fibrosis, certain types of sickle cell anemia and other rare diseases.
The CRISPR / Ca9 system has created promising new therapies for genes that can target and correct disease-causing mutations in a gene. In this process, Cas9 - a bacterial protein - cuts DNA at a specific location where it can edit, trim the genetic sequence, or insert a new sequence before repairing the DNA.
U.S. and Canada: Osteoarthritis Gene Therapy demand outlook
The Osteoarthritis gene therapy market in the U.S. and Canada regions is expected to be slightly affected due to the COVID-19 pandemic. The demand is supposed to show slight growth due to the government investments in various R&D activities in cell based research.
Since the gene therapy can be personalized for every patient’s need, this is anticipated to drive the demand outlook in these regions.
Europe: Osteoarthritis Gene Therapy demand outlook
The European region dominated osteoarthritis gene therapy market during the year 2020. This can be attributed to various reasons that contribute to the demand of this therapy such as rising prevalence of osteoarthritis cases in the region, increased geriatric population due to increased access to advanced medical care and rising obesity rates in various countries of Europe.
Who are the key players in the Osteoarthritis Gene Therapy market?
The key players in osteoarthritis gene therapy demand outlook are
- Smith & Nephew
- Kolon TissueGene
- Medipost co ltd
- and Mundipharma.
On 19th November 2018, Mundipharma signed a multi-year agreement with Kolon Life Sciences, where they secured the exclusive rights for Invossa osteoarthritis therapy in Japan. This collaboration was intended to ensure that all the patients suffering from osteoarthritis in Japan had access to latest breakthrough treatments like Invossa.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
By Site of Injection:
- Adeno-associated virus (AAV)
- Hospitals and clinics
- Orthopedic Centers
- Assisted living Facilities
- Nursing Homes
- Ambulatory Surgical Centers
- North America
- Latin America
- South Asia
- East Asia