Gene Therapy Market Analysis
The Gene Therapy Market size was valued USD 524 million in 2018 and is likely to grow at a 40.7% CAGR between 2019- 2025, reveals the new Market Research Future (MRFR) report. Gene therapy includes repairing, replacing, or repressing dysfunctional genes that cause disease with an aim to re-establish normal function. It is a promising treatment for specific genetic diseases like cystic fibrosis, muscular dystrophy, and some inherited disorders, viral infections, and cancer. Gene therapy is used for eliminating cancerous cells, preventing cardiovascular diseases, blocking neurological disorders, and eliminating infectious pathogens. There are two types of gene therapy-germ-line/reproductive gene therapy and somatic cell gene therapy.
Various factors are adding to the global gene therapy market share. These factors, as per the new MRFR report, include increasing funding for R&D for gene therapy, availability of reimbursements, and increasing incidence of cancer as well as other target diseases. Besides, rising investments by key players, robust product pipeline, and demand for innovative medication is also adding market growth.
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On the contrary, high gene therapy costs may limit the global gene therapy market over the forecast period.
The report categorizes the gene therapy market based on end user, indication, product, regions, and key players. This therapy is a method that includes the delivery of the nucleic acid polymer as a drug into the patient’s cells to treat disease. Gene therapy helps to fix a genetic issue at its source.
Gene Therapy Market Segmentation
The Market Research Future Report provides a detailed segmental analysis of the gene therapy market by end user, indication, & product.
Based on product, the gene therapy market has been segmented into imlygic, zynteglo, strimvelis, zolgensma, yescarta, luxturna, kymriah, and others.
Based on indication, the gene therapy market has been segmented into genetic diseases/disorders, oncology, and others. Of these, the oncology segment will dominate the market over the forecast period for robust pipeline for cancer gene therapy and increasing incidence of cancer.
Based on end user, the gene therapy market is segmented into specialty treatment centers, hospitals and clinics, and others. Of these, hospitals & clinics will spearhead the market over the forecast period for the rising number of hospitals and hospitals being the foremost choice for disease treatment.
Gene Therapy Market Regional Insights
Based on the region, the global gene therapy market report covers the recent trends and growth opportunities across Europe, the Americas, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, North America will dominate the market over the forecast period. Factors propelling the global gene therapy market growth in the region include the presence of top market players in the region, availability of favorable reimbursements, presence of advanced & well-developed healthcare infrastructure, high & growing healthcare expenditure, and rising incidence of chronic diseases.
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The global gene therapy market in Europe is predicted to have a healthy growth over the forecast period for various innovative product launches made by industry players.
The gene therapy market in the Asia Pacific region is predicted to grow at the fastest pace over the forecast period. Factors propelling the global gene therapy market growth in the region include the approval & launch of gene therapy products, an increasing number of people susceptible to different chronic diseases, and rising awareness about gene therapy.
The global gene therapy market meanwhile in the MEA is predicted to have the smallest share over the forecast period for limited healthcare infrastructure.
Gene Therapy Market Key Players
Key players profiled in the gene therapy market report include Lonza (Switzerland), Thermo Fisher Scientific Inc. (US), CEVEC (Germany), Bristol-Myers Squibb Company (US), Orchard Therapeutics plc (UK),Celgene Corporation (US), uniQure N.V. (Netherlands), Spark Therapeutics, Inc. (US), Gilead Sciences, Inc. (US), Novartis AG (Switzerland), and Amgen, Inc. (US).
NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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