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.
Industry
Updates
-
Pfizer
and Novartis lead a wave of pharmaceutical spending on gene therapy. According
to a Reuters analysis, eleven pharmaceutical companies led by Pfizer and Novartis
have allocated $ 2 billion jointly since 2018 to invest in the gene therapy
industry to better control the production of the world's most expensive drugs.
No comments:
Post a Comment