Global Gene Therapy market witnessing exponential Growth Driven by Increasing Number of Approvals and Solid Clinical Pipeline Says Kuick Research
Delhi, Nov. 25, 2021 (GLOBE NEWSWIRE) — Global Gene Therapy Market & Clinical Trials Intelligence Report Highlights
- Global Market Gene Therapy Landscape USD 24 Billion Opportunity
- Comprehensive Commercial & Clinical insight on 16 Approved Gene Therapies
- Gene Therapy Products Dosage & Price Analysis
- Comprehensive Clinical Insight On 1700 Gene Therapies In Clinical Trials
- Information On 45 Orphan Designated Gene Therapies By Indication, Country, Company
- Global Gene Therapy Clinical Trials Insight By Phase, Country, Formulations, Company, Indication, Target
- Global & Regional Market Insight
For Report Sample Contact email@example.com
Gene therapy is a novel treatment modality which involves inserting one or more corrective genes that have been designed in the laboratory into patient cells to treat diseases. It is a way of fixing genetic disorders by introducing a normal & healthy gene in place of defective genes in a cell, in order to prevent/cure different types of genetic & chronic disorders for which no final cure has been developed. Till date, several gene therapy products have entered the market which has indicated for the treatment of several chronic and genetic disorders.
At present, the majority of the global gene therapy market is dominated by the robust sales of Spinraza and Zolgensma, which are indicated for the management of spinal muscular atrophy. In addition, the approval of large number of chimeric antigen receptor T-cell therapy products including Yescarta, Kymriah, Abecma, and others indicated for the management of cancer which has shown high adoption rates. Apart from this, several other gene therapy products have also entered the market which has provided a new paradigm in the management of several rare and chronic diseases. Although they have shown to significantly enhance patient’s outcomes, the market is mainly restrained by their hefty price tags.
The major pharmaceutical companies in the market are focusing on research and development activities in this field. Researchers are currently evaluating the role of the therapy for various diseases including cancer, cystic fibrosis, hemophilia, AIDS, and diabetes. For instance, in November 2021, Sio Gene Therapies reported positive interim data for gene therapy trial of Phase I/II of AXO-AAV-GM1 for the treatment of GM1 gangliosidosis, a genetic disorder that progressively destroys nerve cells in the brain and spinal cord. The rapid approval of the gene therapy in wide range of diseases will further propel the growth of market during the forecast period.
The global cell and gene therapy market is highly concentrated, with a small number of large players. The global pharmaceutical players are increasingly focusing on pursuing inorganic growth strategies such as acquisitions and investment to expand presence, enhance their product portfolio, and improve expertise in market. For instance, in July 2021, Minova Therapeutics Inc. entered into a collaboration and license agreement with Astellas Pharma Inc. for the research, development, and commercialization of novel cell therapy programs for diseases caused by mitochondrial dysfunction. The other key players in market are Gilead Science, Amgen, Jazz Pharmaceutical, Biogen, and others.
As per our report findings, the global gene therapy market is expected to surpass US$ 24 Billion by 2028. Going forward increasing prevalence of cancer and chronic diseases, rising geriatric population, rising focus on cell and gene therapy, and rise in healthcare expenditure will drive the growth in the global therapy market. Among regions, US is expected to have majority share and will grow with high CAGR rates during the forecast period. This is mainly attributed to large number of ongoing clinical trials combined with the presence of major key players focusing on research and development activities pertaining to cell and gene therapy. Moreover, high adoption to gene therapy products, rising government initiatives and development of favorable reimbursement policies will further drive the growth in the region.
The global gene therapy market provides insights into the global and regional market along with the analysis of different influencing factors like drivers, restraints, and opportunities. For market estimates, data has been provided for the year 2020 as the base year, with forecasts for 2021-2026. By geography, the market has been segmented into several regions including US, Europe, China, Japan, Taiwan, South Korea, Germany, and India. By indication, the market has been segmented into cancer, CNS, and others. Apart from this, a comprehensive list of key players operating in global gene therapy market is also mentioned in the report.
CONTACT: Contact: Neeraj Chawla Research Head firstname.lastname@example.org +919810410366
The content is by GlobeNewswire. DKODING Media is not responsible for the content provided or any links related to this content. DKODING Media is not responsible for the correctness, topicality or the quality of the content.