Gene Therapy Market Trends, Share and Size Analysis By Product (Kymriah, Luxturna, Yescarta, Zolgensma, Strimvelis, Zynteglo, Others), By Indication (Oncology, Genetic Diseases) and By End-User (Hospitals & Clinics, Specialty Treatment Centers), Forecast to 2025
Gene Therapy Market Overviewe
Global gene therapy market, size was valued USD 524 million in 2018 and is anticipated to grow at a 40.7% CAGR during the forecast period of 2018 to 2023.
The global gene therapy market growth would depend on several drivers like robust product pipeline that would trigger competition and curb the price to make the treatment more affordable, a hike in investment from various players, demand for innovative medicines to treat diseases like cancer, the prevalence of target diseases, and others.
The gene therapy market would also benefit from the acquisition of small companies by large companies and an increasing number of clinical trials for various diseases.
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However, the gene therapy market size could get affected by the high price associated with the treatment. It is beyond normal people’s reach owing to which its market is restricted. Also, stringent policies can deter gene therapy market growth.
Gene Therapy Market Segmentation:
The global gene therapy market landscape influenced the market study of MRFR, which, in turn, segmented the market into product, indication, and end user as major segments to facilitate the market understanding.
By product, the report studied the gene therapy market on the basis of Kymriah, Yescarta, Luxturna, Zolgensma, Zynteglo, Strimvelis, Imlygic, and others. In 2018. Kymriah had a valuation of around USD 28 million.
By indication, the gene therapy market study includes oncology, genetic diseases/ disorders, and others. The genetic diseases/ disorders segment has the largest market share and the oncology segment is the fastest-developing.
By end user, the global gene therapy market includes hospitals & clinics, specialty treatment centers, and others. The hospitals & clinics have maximum market coverage.
Gene Therapy Market Regional Analysis:
The Americas would enjoy the lion’s share as the structural benefits, the investment potential of end players, government funding, and other aspects are boosting the regional gene therapy market. In Europe, similar aspects would trigger gene therapy market growth. Both these regions are spending much to develop research and development facilities.
Gene Therapy Market Competitive Landscape:
Spark Therapeutics, Inc. (US), Amgen, Inc. (US), Novartis AG (Switzerland), uniQure N.V. (Netherlands), Gilead Sciences, Inc. (US), Celgene Corporation (US), Orchard Therapeutics plc (UK), Thermo Fisher Scientific Inc. (US), CEVEC (Germany), Bristol-Myers Squibb Company (US), Lonza (Switzerland), and others are some of the prominent names involved in the global gene therapy market.
Gene Therapy Industry News:
In July 2020, Forge Biologics, a company known for its gene therapy biotech capacity, has managed to get a fund of $40 million from the Perceptive Xontogeny Venture Fund and Drive Capital. The company is known for its ability to provide manufacturing and development services to various other companies, all the while using its own force to build a strong pipeline. This funding would help the company in maintaining both these aspects.
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In July 2020, the U.S. Food and Drug Administration (FDA) declared that Neurogene’s gene therapy that would deliver a working copy of the human CLN5 gene would now be considered as an orphan drug. This would be used to treat CLN5 that can be defined as a form of late-infantile Batten disease. This will encourage various therapies for rare and serious diseases. Companies associated with the manufacturing of such treatments will get seven years of market exclusivity and also, an exemption from FDA application fees as a token of encouragement.
The COVID-19 disease has impacted the global market as gene therapy is also getting explored to understand various nuances of the disease to develop drugs.
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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