Gene Therapy Market Size
Gene therapy is a technique in which a piece of DNA is incorporated into the cell via a vector. The key players are investing in the manufacturing of cell and gene therapy treatments due to its target specificity. The gene therapy is mainly of two types, somatic gene therapy, and germline gene therapy, depending on the type of cells its targets.
According to MRFR analysis, the global Gene Therapy Market Size is expected to register a CAGR of 40.7% during the forecast period and was valued at USD 524 million in 2018.
The growth of the global Gene Therapy Market is attributed to various factors such as robust product pipeline, increasing investment by key players, and high prevalence of target diseases and demand for innovative medication. However, the high cost of product development and stringent regulatory policies are expected to curb the growth of the global Gene Therapy Market. The global Gene Therapy Market is currently dominated by several market players. The key players are involved in product launches and strategic collaborations to strengthen their market positions.
Major Key Players:
Some of the key players in the global Gene Therapy 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), and Lonza (Switzerland).
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.
The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is expected to be the largest market owing to the increasing prevalence of gene therapy and rising per capita healthcare expenditure. The Gene Therapy Market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European Gene Therapy Market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The Gene Therapy Market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the increasing number of patients and raising awareness about the treatment methods, the market in Asia-Pacific is expected to be the fastest-growing. The Gene Therapy Market in the Middle East & Africa has been divided into the Middle East and Africa.
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