Gene Therapy Market Report, Overview, Size, Share, Growth and Industry Analysis By Product (Kymriah, Luxturna, Yescarta, Zolgensma, Strimvelis, Zynteglo), Indication (Oncology, Genetic Diseases) and End-User (Hospitals & Clinics, Specialty Treatment Centers) – Forecast to 2027
Gene Therapy Market Overview
Global Gene Therapy Market was valued USD 524 million in 2018 and expected to register a CAGR of 40.7%. Gene therapy is a cutting-edge medical treatment that includes replacing a faulty one in a cell with a normal or healthy gene. It can be used to treat a variety of chronic and hereditary diseases in people.
Gene therapy is a method of treating genetic problems by inserting a normal and healthy gene into a cell to replace defective genes in order to prevent or cure various hereditary and chronic conditions for which no final solution has been found.
Gene Therapy Market Trends
Gene therapy has shown to be a viable treatment option for a variety of ailments (including inherited disorders, some types of cancer, and certain viral infections). This procedure is still dangerous, and it is being studied to ensure that it is both safe and effective. Gene therapy is now only being investigated for disorders for which there are no alternative treatments. The gene therapy market is expanding as sophisticated medicines and gene delivery technologies become more widely available. Gene therapy is a novel medical strategy that involves the use of genes to treat disease. It is hoped that in the future, this technology would allow doctors to cure a variety of chronic conditions by inserting a gene into a patient’s cells rather than utilizing different medication or surgery. The global gene therapy market is expected to rise due to a strong product pipeline, increased investment by key companies, and the rising prevalence of target diseases and need for innovative treatments.
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The high frequency of cancer and other target diseases, the availability of reimbursements, and the increased financing for gene therapy research are all driving this market forward. As a result, a variety of payment methods, such as financial-based agreements and health-outcome-based agreements, have been proposed or implemented to improve therapy accessibility and market survival. These models have had a considerable impact on the market’s uptake of medicines. Currently, the globe is attempting to offset the negative effects of the SARS-CoV-2 epidemic in order to restore market revenue flow. Various healthcare research centers are focusing solely on COVID-19 therapeutics research. A few companies have already stated that there may be delays in product deliveries and a drop in future sales. The cell and gene therapy industries have been severely hit. Progress in ongoing R&D has been slow since many universities have shut down and ceased all non-essential research and enrollment processes for clinical trials.
Several major companies currently lead the worldwide gene therapy industry. To increase their market positions, the leading companies are involved in product launches and strategic collaborations. The growing field of advanced therapeutics and gene delivery technologies has spawned a competitive environment in which a large number of market companies are attempting to commercialize their gene therapy products. Collaborations, mergers, and acquisitions are being considered by therapy developers as a potential option for enhancing in-house knowledge and strengthening product pipelines. These factors are projected to contribute to the market’s expansion. Although the high cost of currently accessible therapies encourage therapeutic development, they also limit accessibility and may lead to market withdrawals owing to the goods’ lack of economic sustainability.
Gene Therapy Market Segmental Analysis
The global gene therapy market has been segmented based on product, indication, and end user.
The market, based on product, has been divided into kymriah, luxturna, yescarta, zolgensma, strimvelis, zynteglo, imlygic, and others.
The global gene therapy market has on the basis of indication is segmented, into oncology, genetic diseases/ disorders, and others. Due to the high frequency of cancer and a rich pipeline for cancer gene therapy, the oncology category is predicted to have the greatest market share and be the fastest-growing segment.
Hospitals and clinics, specialist treatment centers, and others are the market’s end-user segments. Because of the growing number of hospitals, the hospitals & clinics category is predicted to have the greatest market share. In addition, hospitals are frequently the primary line of treatment for diseases.
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Gene Therapy Market Regional Overview
The market has been segmented into four regions: the Americas, Europe, Asia-Pacific, and Middle East and Africa. Because of the expanding incidence of gene therapy and rising per capita healthcare expenditure, the Americas are likely to be the largest market. The rising prevalence of chronic diseases, rising healthcare expenditures, sophisticated healthcare infrastructure, reimbursement availability, and the presence of prominent market players in the region are all propelling the gene therapy market in North America forward.
Gene Therapy Market Competitive Dynamics
The notable players of the market are Amgen, Inc. (US), Novartis AG (Switzerland), Spark Therapeutics, Inc. (US), Gilead Sciences, Inc. (US), uniQure N.V. (Netherlands), Orchard Therapeutics plc (UK), Celgene Corporation (US), Bristol-Myers Squibb Company (US), Thermo Fisher Scientific Inc. (US), CEVEC (Germany), Lonza (Switzerland).
Table Of Contents
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry
5.2 Value Chain Analysis
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