New York, US, July 01, 2021 (GLOBE NEWSWIRE) — Gene Therapy Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “Gene Therapy Market Information by Indication, End-User, Product, and Region – Forecast till 2025”, the market was valued USD 524 million in 2018 and estimated to register 40.7% CAGR by 2025.
Market Scope:
The important players are focusing on capitalizing in the production of cell and gene therapy remedies due to its target specificity. The gene therapy comprising of two main types, such as germline gene therapy and somatic gene therapy, is largely contingent on the type of cells it is intended for. The overall gene therapy market development is accredited to many factors such as robust product channels, growing investment by key companies, and high occurrence of target illnesses and call for advanced medication. Though, the elevated cost of product growth and strict regulatory strategies are expected to control the development of the gene therapy market.
Market Drivers:
The market for gene therapy is estimated to be strengthened by a robust product pipeline. The growing financing by key players is predicted to create a positive backdrop for development in the coming years. In addition, the elevated occurrence of target diseases and innovative medication requirements is anticipated to spur the gene therapy market in the future.
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Market Competitive Landscape:
The formidable companies in the gene therapy market are:
- Orchard Therapeutics plc (U.K.)
- Amgen, Inc. (U.S.)
- CEVEC (Germany)
- Lonza (Switzerland)
- Novartis AG (Switzerland)
- Spark Therapeutics, Inc. (U.S.)
- Gilead Sciences, Inc. (U.S.)
- uniQure N.V. (Netherlands)
- Celgene Corporation (US)
- Bristol-Myers Squibb Company (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
Market Restraints:
The gene therapy market is assessed to be restricted due to the elevated cost of product development for several therapies. Furthermore, the rigorous regulatory policies are predicted to further reduce the growth momentum in the forecast period.
Browse In-depth Market Research Report (111 Pages) on Gene Therapy: https://www.marketresearchfuture.com/reports/gene-therapy-market-8399
COVID 19 Analysis
The use of genetics was a central tool in understanding the effect of several disease, even the COVID-19 infection. The element of precision in gene therapy is estimated to create more opportunities for the market as it can be deployed effectively to treat disease that don’t have any treatment yet. Gene therapies available today are set to deliver an effective treatment choice for patients that have advanced resistance to chemotherapies across numerous cancer indications. For instance, Avellino Lab USA, Inc. recently posted that more than two million of its SARS-CoV-2/COVID-19 tests (AvellinoCoV2) have been performed in the United States. Avellino was one of the initial private companies in the U.S. to obtain an Emergency Use Authorization (EUA) from the FDA for AvellinoCoV2 last year. The AvellinoCoV2 test focuses on the N-gene region of the SARS-CoV-2 virus, which has been proven to be less disposed to mutations perceived in COVID-19 variants, aiding in preventing false negatives that can happen when targeting areas of the virus that are more vulnerable to changes.
Market Segmentation
By product, Kymriah is forecasted to be the fastest-growing segment in the coming period.
Based on the indications, the oncology segment is likely to hold the chief market share and be the fastest-growing segment due to the high cancer and a strong pipeline for cancer gene therapy.
In the end-user segments, the hospitals & clinics segment is anticipated to hold the chief market share due to the growing number of hospitals. Also, hospitals are mostly the first medication choice for diseases.
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Regional Insights
The Americas is projected to be the prime regional market for gene therapy due to the mounting incidence of gene therapy and intensifying per capita healthcare spending. The gene therapy market in the Americas is being driven by the regional markets in North America and Latin America, with the North American being backed by the demand from the U.S. and Canada.
The European gene therapy market is estimated to develop at a steady pace with increased production capability and innovation therapy.
The gene therapy market in Asia-Pacific is likely to be motivated by an increased presence of global players in countries such as Japan, China, India, Australia, and South Korea. Owing to the increasing number of patients and rising mindfulness about the treatment approaches, the gene therapy market in the Asia-Pacific is likely to be the fastest-growing region. The gene therapy market in the Middle East & Africa is estimated to grow at a relatively slower rate in the forecast period.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
