Gene Therapy Market Size, Growth and Share Analysis By Product (Kymriah, Luxturna, Yescarta, Zolgensma, Strimvelis, Zynteglo), Indication (Oncology, Genetic Diseases, Others), End-User (Hospitals & Clinics, Specialty Treatment Centers), Forecast to 2025
The global gene therapy market size is expected to exhibit a robust CAGR of 40.7% over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The global gene therapy market was valued at USD 524 million in 2018. The research report profiles the global gene therapy market in great detail and provides readers with a comprehensive overview of the market. The market’s historical growth trajectory, present conditions, and future growth prospects are studied in the report. The report provides a comprehensive overview of the market’s historical growth trajectory by detailing the historical stats regarding the market.
Future projections are based on the detailed historical stats offered in the report. Based on this platform, future projections for the gene therapy market’s growth trajectory over the forecast period are provided in the report. The report also profiles the leading players in the global gene therapy market and gives readers a comprehensive analysis of the leading players in the global gene therapy market. The report also profiles the major drivers and restraints affecting the global gene therapy market. The factors making the market tick and those holding the market back are studied in detail in the report. The impact of the COVID-19 pandemic on the gene therapy market is also assessed in the report.
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Gene therapy involves therapies that target the genetic root cause of a disease and eradicate the disease at this base level. The system is focused on the use of introduced nucleic acids as an alternative to drugs. The use of edited genes can eradicate the need for drugs altogether, as, in future, scientists will be able to cure diseases by simply introducing a novel genetic component into the genome of the patient. The introduction of the CRISPR gene editing tool is a major driver for the global gene therapy market, as this has made gene editing much easier than before.
The growing prevalence of cancer has driven the demand for effective gene therapies for the same. This is likely to be a major driver for the global gene therapy market over the forecast period. The increasing prevalence of cancer has been a major strain on healthcare resources around the world. As a result, many governments as well as private players have invested significantly in finding a treatment for cancer. This is likely to remain a major driver for the global gene therapy market over the forecast period.
Gene Therapy Market Competitive Outlook:
Leading players in the global gene therapy market include Amgen Inc., Novartis AG, Spark Therapeutics Inc., Gilead Sciences Inc., uniQure NV, Orchard Therapeutics plc, Celgene Corporation, Bristol-Myers Squibb Company, Thermo Fisher Scientific Inc., CEVEC, and Lonza. Major players in the global gene therapy market are involved in discovering gene therapies for new applications. Thus, research and development is likely to be a major investment channel for major players in the gene therapy market over the forecast period.
Gene Therapy Market Segmentation:
The global gene therapy market is segmented by product, indication, end use, and region.
By product, the global gene therapy market is segmented into Kymriah, Luxturna, Yescarta, Zolgensma, Strimvelis, Zynteglo, Imlygic, and others. Kymriah and Luxturna are the first approved gene therapies and thus hold an important share in the global gene therapy market. Kymriah is used to treat acute lymphoblastic lymphoma, while Luxturna is used to treat retinal dystrophy. Imlygic is the first oncolytic viral therapy.
By indication, the global gene therapy market is segmented into oncology, genetic diseases, and others. The genetic diseases segment holds the largest share in the global gene therapy market, while the oncology segment is expected to grow at the highest rate over the forecast period.
By end use, the global gene therapy market is segmented into hospitals and clinics, specialty treatment centers, and others. Hospitals and clinics comprise the largest segment in the global gene therapy market.
Gene Therapy Market Regional Analysis:
Based on the region, the global gene therapy market report covers the recent trends and growth opportunities across Europe, North America, the Asia Pacific (APAC), and the Middle East and Africa (MEA). The global gene therapy market in Europe is predicted to have favorable growth over the forecast period for industry players coming up with innovative product launches, top companies in the region extending product distribution by securing approval from various regulatory bodies, and increasing expenditure for gene and cell therapy companies in the UK.
North America will have lions share in the market over the forecast period for the rising cases of chronic diseases, increasing healthcare expenditure, advanced & innovative healthcare infrastructure, presence of eminent market players, and availability of favorable reimbursements.
The global gene therapy market in the Middle East and Africa is predicted to hold the smallest share over the forecast period for restricted healthcare infrastructure in the region.
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The global gene therapy in the Asia Pacific region is likely to grow at a fast pace during the forecast period. The rising government initiatives for the healthcare sector development, presence of top market players in the region, launch & approval of various gene therapy products, rising prevalence of chronic diseases, and growing awareness about gene therapy are adding market growth.
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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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