Gene Therapy Market is Projected to Register a Healthy CAGR of 23.30% in the Forecast to 2027

Research Reports

Dec 14, 2021

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.

Global Gene Therapy Market size is expected at a CAGR of 23.30% during 2021 to 2027.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.

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)

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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.

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.

Market Segmentation

Major products discussed in the MRFR review report are Kymriah, Strimvelis, Zynteglo, Imlygic, Luxturna, Zolgensma, Yescarta, and more. Luxturna and Kymriah are the most endorsed products and as a result, have secured the top spot in the global market for gene therapy. Kymriah helps in the treatment of intense lymphoblastic lymphoma, and Luxturna, on the other hand, helps treat retinal dystrophy.

Indication-wise, the key categories can be hereditary illnesses, oncology, and many more. The leading position belongs to the hereditary infections section while the oncology segment shall procure the fastest CAGR in the ensuing years.

Top end-users in the worldwide market are Hospitals & Clinics, Specialty Treatment Centers and others. Given the dramatic rise in the number of hospital and clinics offering advanced medical services and the surge in patient admission rates, the segment is bound to see massive growth over the appraisal period. 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.

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