Gene Therapy Market Size Global Gathering and Future Outlook 2020 to 2027
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.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.
According to MRFR analysis, the global gene
therapy market is expected to register a CAGR of 40.7% during the forecast
period of 2019 to 2025 and was valued at USD 524 million in 2018.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.
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Segmentation
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.
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).
Regional Analysis
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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