Gene Therapy Market Landscape
Gene Therapy Market Size, Trends and Growth Analysis By Product (Kymriah, Luxturna, Yescarta, Zolgensma, Strimvelis, Zynteglo, Others), By Indication (Oncology, Genetic Diseases, Others) and By End-User (Hospitals & Clinics, Specialty Treatment Centers), Forecast to 2025
Gene therapy market size stood at USD 524 million in 2018 and can record a fantastic growth rate of 40.7% between 2019 and 2025 (evaluation period), reveals Market Research Future (MRFR). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the gene therapy market post the coronavirus disease outbreak.
Biopharmaceutical frontrunners have been constantly fighting the novel coronavirus pandemic. The COVID-19 outbreak has set various biotech vendors on the path of investigating the SARS-CoV-2 genome, in order to achieve an effective vaccine. Many of these biotech firms have been conducting trials at an unprecedented pace and substantial funds are being allocated to conduct R&D activities. Despite the lockdown, the pandemic still remains uncontrollable and has managed to affect a large population worldwide. Therefore, private and public sectors are working in unison and harnessing the potential of gene therapy to achieve a Covid-19 breakthrough, which can mean substantial gains for the global market in the oncoming period.
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Gene therapy has gathered significant momentum backed by the potential of CAR T-cells and their rising use, which has gained the attention of several sponsors. Gene therapy forms a considerable share in the pharmaceutical sector’s pipeline and the trend can continue in line with the rising commercial availability of the products in the R&D phase over the coming years. The rapid advancements in the cellular and molecular biology area, fuelled by technological developments in gene-editing tools and genomics contribute to the gene therapy market growth.
With the surge in product approvals, the gene therapy industry is witnessing intense rivalry for buyouts, leading to significant premiums. Gene therapy market size will also be enhanced by the increasing tie ups between pharma companies to conduct clinical trials based on gene therapy for the treatment of different conditions and diseases. A case in point, in October 2020, Sangamo and Pfizer have come together and have already reached the Phase 3 clinical trial of gene therapy for the treatment of hemophilia A. The trial will involve the measuring of the bleeding rate for the 12 months of the first year after getting a dose of the gene therapy.
Gene Therapy Market Segmentation
Gene therapy market forecast by MRFR comprises a few key segments, namely product, indication, and end user.
The product-wise segments in the gene therapy market are luxturna, kymriah, zolgensma, yescarta, zynteglo, imlygic, strimvelis, and more.
The gene therapy industry, depending on indication, caters to genetic diseases/disorders, oncology, and others. The oncology segment can acquire the most significant portion of the market and also proceed at the fastest rate owing to the rising prevalence of cancer as well as the extensive pipeline associated with cancer gene therapy.
The prime end-users recognized in the gene therapy market report are specialty treatment centers, hospitals & clinics, and others. Hospitals & clinics can emerge as the leading segment on account of the surging number of hospitals across the world and the fact that they are considered to be the first treatment option for all diseases.
Gene Therapy Market Regional Insight
The gene therapy market study covers a few primary regions, namely Asia Pacific/APAC, the Americas, MEA/Middle East & Africa and Europe.
With the biggest share in the global gene therapy market, the Americas is in the lead backed by the strong presence of world-renowned vendors and the substantial healthcare expenditure. The rising cases of cancer, significant disposable income of people, and the surge in spending on R&D activities in relation to gene therapy also favor the regional market. The government support in the form of funds for researches and the growing acceptance of gene therapy for treating cancer treatment also boost the gene therapy market size in the region.
Increased financing for gene therapy by leading firms in European countries like the U.K. can be a huge growth booster in the years ahead. Regional vendors are constantly taking up strategies that help them bolster their product distribution and aim to secure approvals from various regulatory bodies, which in turn, aids gene therapy market growth.
APAC is the fastest advancing gene therapy market as it is rapidly observing a spike in the prevalence of diseases and a surge in the awareness level with regard to gene therapy. China is touted to be the hub for therapy development in the world and in today’s scenario, the number of ongoing clinical trials in the country is far more than that in the United States. Australia, New Zealand and Japan are fast emerging as strong markets in the region as well.
Browse Detailed TOC with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/reports/gene-therapy-market-8399
Gene Therapy Market Renowned Companies
The most renowned companies in the gene therapy market are Gilead Sciences, Inc. (US), Spark Therapeutics, Inc. (US), uniQure N.V. (Netherlands), CEVEC (Germany), Novartis AG (Switzerland), Bristol-Myers Squibb Company (US), Lonza (Switzerland), Thermo Fisher Scientific Inc. (US), Celgene Corporation (US), Orchard Therapeutics plc (UK), Amgen Inc. (US), and more.
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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