Gene Therapy Market Research Report- Forecast till 2027
Gene therapy is a technique in which a piece of DNA is incorporated into
the cell via a vector. The key players are investing in the manufacturing of
cell and gene therapy treatments due to its target specificity. The gene
therapy is mainly of two types, somatic gene therapy, and germline gene
therapy, depending on the type of cells its targets.
According to MRFR analysis, the global gene
therapy market is expected to register a CAGR of
40.7% during the forecast period and was valued at USD 524 million in 2018.
The growth of the global gene therapy market is attributed to various
factors such as robust product pipeline, increasing investment by key players,
and high prevalence of target diseases and demand for innovative medication.
However, the high cost of product development and stringent regulatory policies
are expected to curb the growth of the global gene therapy market. The
global gene therapy market is currently dominated by several market players.
The key players are involved in product launches and strategic collaborations
to strengthen their market positions.
Major Key
Players:
Some of the key players in the global gene therapy companies 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), and Lonza (Switzerland).
Segment 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. The oncology segment is expected to hold the largest market share
and to be the fastest-growing segment due to high prevalence of cancer and
robust pipeline for cancer gene therapy.
The end-user segments of the market are
hospitals & clinics, specialty treatment centers, and others. The
hospitals & clinics segment is expected to hold the largest market share
due to increasing number of hospitals. Also, hospitals are generally the first
treatment choice for diseases.
Regional Analysis
The market has been divided, by
region, into the Americas, Europe, Asia-Pacific, and the Middle East &
Africa. The Americas is expected to be the largest market owing to the
increasing prevalence of gene therapy and rising per capita healthcare
expenditure. The gene therapy market in the Americas has further been branched
into North America and Latin America, with the North American market divided
into the US and Canada. The European gene therapy market has been categorized
as Western Europe and Eastern Europe. The Western European market has further
been classified as Germany, France, the UK, Italy, Spain, and the rest of
Western Europe. The gene therapy market in Asia-Pacific has been segmented into
Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due
to the increasing number of patients and raising awareness about the treatment
methods, the market in Asia-Pacific is expected to be the fastest-growing. The
gene therapy market in the Middle East & Africa has been divided into the
Middle East and Africa.
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