Gene Therapy Market
Gene Therapy Market is expected to rise at a CAGR of 19.10%, with a value of USD 3.22 billion by 2030.
The global gene therapy market was valued at USD 524 million in 2018. The research report profiles the global gene therapy market in great detail and provides readers with a comprehensive overview of the market. The market’s historical growth trajectory, present conditions, and future growth prospects are studied in the report. The report provides a comprehensive overview of the market’s historical growth trajectory by detailing the historical stats regarding the market. Future projections are based on the detailed historical stats offered in the report. Based on this platform, future projections for the gene therapy market’s growth trajectory over the forecast period are provided in the report. The report also profiles the leading players in the global gene therapy market and gives readers a comprehensive analysis of the leading players in the global gene therapy market. The report also profiles the major drivers and restraints affecting the global gene therapy market. The factors making the market tick and those holding the market back are studied in detail in the report. The impact of the COVID-19 pandemic on the gene therapy market is also assessed in the report.
Gene therapy involves therapies that target the genetic root cause of a disease and eradicate the disease at this base level. The system is focused on the use of introduced nucleic acids as an alternative to drugs. The use of edited genes can eradicate the need for drugs altogether, as, in future, scientists will be able to cure diseases by simply introducing a novel genetic component into the genome of the patient. The introduction of the CRISPR gene editing tool is a major driver for the global gene therapy market, as this has made gene editing much easier than before.
The growing prevalence of cancer has driven the demand for effective gene therapies for the same. This is likely to be a major driver for the global gene therapy market over the forecast period. The increasing prevalence of cancer has been a major strain on healthcare resources around the world. As a result, many governments as well as private players have invested significantly in finding a treatment for cancer. This is likely to remain a major driver for the global gene therapy market over the forecast period.
Major Key Players:
Some of the Gene Therapy Market Players 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 global gene therapy market is studied across four major regions: Asia-Pacific, Europe, the Americas, the Middle East, and Africa.
According to the MRFR reports, the American regional gene therapy market is likely to dominate globally over the review timeframe. The regional market's growth is driven by the rising per capita medical care consumption and the expanding pervasiveness of quality treatment. The regional market is further divided into Latin America and North America.
The European regional market will likely register substantial growth over the review timeframe. The region is further divided into Eastern Europe and Western Europe. The well-established medical infrastructure is driving the regional market's growth.
The Asia-Pacific region is projected to grow at the highest pace over the coming years. The bringing issues are driving the regional market's growth to light about the treatment strategies and growing number of patients.
Given the lack of skilled professionals and poor health infrastructure, the gene therapy market for the Middle East African region is likely to record the CAGR over the assessment timeframe.
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