or in the transfection technology market
. The market is segmented based on the technologies, where Bio-chemical based methods hold the major share in the market because of its cost advantage and simplicity over other technologies. Physical based methods are growing at a healthy pace because of its ability to transfect hard to transfect cells, while the viral mediated methods are growing at a steady phase.
The key growth area of transfection products is the application in therapeutic area, where transfection is effectively used in treatment of cancer and other genetic disorders. Growth in gene therapy is also driving the transfection market. Gene therapy promises to cure various diseases and disorders, and is one of the growing application in therapeutic segments with four approved drugs being in market. Electrochemotherapy is another upcoming therapeutic method being tested widely in Europe and America for treating cutaneous and sub-cutaneous tumors.
The global market for transfection products was estimated to be worth US $385 million in 2012 and is expected to reach US $601 million by 2017, growing at a CAGR of 9.32% from 2012 to 2017.
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