Gene Therapy Market Size, Growth and Share Analysis By Product (Kymriah, Luxturna, Yescarta, Zolgensma, Strimvelis, Zynteglo, Others), By Indication (Oncology, Genetic Diseases, Others) and By End-User (Hospitals & Clinics, Specialty Treatment Centers, Others), Forecast to 2025
Gene Therapy Market Synopsis
Research and development is driving global gene therapy alongside increased investment in product development. Growing policy funding for gene therapy studies, ethical approval of gene therapy for cancer treatment, and increasing incidence of cancer often fuel demand development for gene therapy. In addition, rapid and significant progress in the arena of molecular and cellular biology, driven by technological advances in genomics and gene-editing tools, has contributed to a growing number of approved gene therapies and an expanding pipeline.
The Global Gene Therapy Market size was recorded at a value of USD 524 million in 2018 and is touted to register a CAGR of 40.7%. Global gene therapy market growth in gene therapy is due to various factors such as a strong drug pipeline, increased investment by key players and a high prevalence of target disease, as well as demand for innovative drugs. Over recent years, the number of applications for gene therapy has risen, including the treatment of numerous rare and incurable disorders such as cancer, and genetic diseases inherited. With an advent in the number of molecules being tested across different clinical trials, the count is dominated by the trials intended to develop cancer therapies.
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Yet high cost of drug production and stringent regulatory regulations are likely to limit the expansion of the global demand for gene therapy. Today the global gene therapy market is dominated by many industry players. The key players are involved in product launches and strategic collaborations to strengthen their market positions.
Gene Therapy Market Regional Analysis
Region wise, the gene therapy market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest market share of gene therapy in 2018, and this pattern is predicted to continue throughout the projected period due to high cancer incidence, high disposable income and increased support for gene therapy-related R&D activities.
Asia-Pacific, however, is expected to record the highest growth over the forecast period, owing to an advent in the number of people prone to various chronic diseases. However, the approval and introduction of gene therapy drugs will have a positive effect on the growth of the gene therapy market in developing countries , such as Japan, Australia and New Zealand.
Gene Therapy Market Segmental Analysis
The global gene therapy market has been segmented based on product, indication, and end user.
The product-based gene therapy market was divided up into kymriah, luxturna, yescarta, zolgensma, strimvelis, zynteglo, imlygic, and others.
The global gene therapy market is segmented into oncology, genetic diseases / disorders and others based on indication. The oncology sector is expected to have the largest market share and to be the fastest developing sector due to the high prevalence of cancer and robust pipeline for cancer gene therapy.
Segmentation by end users in the gene therapy market has been done into hospitals & clinics, specialist care centers, and more. Thanks to an growing number of clinics, the group Clinics & Clinics is expected to have the highest gene therapy market share. Hospitals are also generally the first choice for treating diseases.
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Increase in support for cell therapy and gene therapy companies through European countries including the UK. Europe ‘s economy is expected to expand at a lucrative pace. In addition, European companies are committed to expanding the distribution of goods globally by gaining approval from multiple regulatory bodies.
Gene Therapy Market Competitive Dashboard
Some of the eminent players in the global gene therapy market are Novartis AG (Switzerland), Amgen, Inc. (US), Spark Therapeutics, Inc. (US), CEVEC (Germany), Gilead Sciences, Inc. (US), uniQure N.V. (Netherlands), Orchard Therapeutics plc (UK), Bristol-Myers Squibb Company (US), Celgene Corporation (US), Thermo Fisher Scientific Inc. (US), and Lonza (Switzerland).
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