Market Insights
According to Market Research
Future, the global Gene
Therapy Market is estimated to reach the highest market share with a growth
rate of 40.7% during the forecast period, at a market size of USD 524 million.
Gene therapy is a method in which
a slice of DNA is introduced into the cell through a vector. The most important
players invest in the production of cell and gene therapy treatments due to
their specific target. Gene therapy consists mainly of two types, somatic gene
therapy, and germline gene therapy, depending on the target cell type. The
progress of the global gene therapy market is ascribed to several factors, such
as the robustness of the product portfolio, the growing investments of the main
players, the high prevalence of target diseases, and the demand for innovative
medicines. However, the high costs of product development and stringent
regulatory policies should slow the development of the global gene therapy
market. The global gene therapy market is currently influenced by several
market participants. Key players are engaged in strategic partnerships and
product launches to strengthen their market positions.
Market Segmentation
The global gene therapy market is
classified by product, indication, and end-user.
The product-based market is divided into
kymriah, yescarta, luxturna, zynteglo, zolgensma, strimvelis, imlygic, and
others. The kymriah subsegment leads the
product segment as it was the first gene therapy approved in the US
The global indication-based gene
therapy market is segmented into oncology, genetic diseases / disorders, and so
on. The oncology segment is expected to have the largest market share and the
fastest-growing segment due to the high prevalence of cancer and the robustness
of cancer gene therapy.
The end-user segments of the
market are hospitals and clinics, specialized treatment centers, and others.
The clinic and hospital segment are expected to have the largest market share
due to the growing number of hospitals. In addition, hospitals are usually the
first choice for treating illnesses.
Regional Insights
Region-wise the global market is
split into various regional markets such as the Americas, Asia Pacific, Europe,
and the Middle East & Africa.
North America leads regionwise in
the global market in terms of share owing to high number of approved molecules
for clinical usage and increased research and development for gene studies.
Following
the US, Europe's high molecule approval stands at the second position and is
anticipated to sustain its position during the forecast period.
A
developing region such as India and China in Asia Pacific region is predicted
to offer lucrative growth prospects owing to progressive growth in the field
genes and molecular biology.
Market Players
The leading names involved in the
growth of the global gene therapy market include Amgen, Inc., Novartis AG,
Spark Therapeutics, Inc., Gilead Sciences, Inc., uniQure N.V., Orchard
Therapeutics plc, Celgene Corporation, Bristol-Myers Squibb Company, Thermo
Fisher Scientific Inc., CEVEC, and Lonza. Manufacturers emphasizing the investment
for advanced microbiology research and efforts to stay competitive in the
global market is one of the driving factors responsible for the growth of the
global market.
No comments:
Post a Comment