Gene Therapy Market Overview
As per the reports by MRFR, the gene therapy market is projected to grow at a robust pace with a CAGR of 40.7% from 2019 to 2025.
Gene therapy refers to a strategy in which a piece of DNA is connected to the cell via a vector. The middle participants are placing resources into building cell and gene therapy medicines due to their objective explicitness. The therapy is a principal of two types, Gene Therapy treatment, and physical quality treatment, depending upon the type of cells its objectives.
The global market for gene therapy has been experiencing massive growth over recent years, attributing to several growth-driving aspects. Some of the factors responsible for the growth of the gene therapy market include a high preponderance of target illnesses and interest for creative medicine, a growing venture by vital participants, and a robust item pipeline. The gene therapy market is flourishing with numerous active market players that are focusing on the growth of the market to a remarkable extent. These players are making a significant contribution to the growth of the gene therapy market on a global level.
Furthermore, the global market for gene therapy is being driven by factors like developing financing by key players, increased target infections, and creative medicine requirements. However, the growth of the gene therapy market is anticipated to be restricted by the increased expense of item improvement for certain treatments and the comprehensive administrative approaches.
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Gene Therapy Market Segment Analysis
The global market for gene therapy is divided into various segments based on product, indication, end-user, and region.
Based on product, the gene therapy market is divided into zynteglo, yescarta, luxturna, strimvelis, zolgensma, imlygic, kymriah, and much more.
Based on indication, the global market for gene therapy is divided into hereditary illnesses, oncology, and much more.
The market is split into clinics and facilities, forte treatment habitats, and more based on end-users.
The global gene therapy market is studied across several regions, including the Middle East & Africa, Europe, Asia-Pacific, North America, and South America.
The North American regional market for gene therapy dominates the global market owing to the increasing per capita medical care consumption and the growing pervasiveness of quality treatment. The growth of the US and Canada gene therapy markets is the propelling aspect for the region’s growth.
The European regional market for gene therapy is further divided into Eastern Europe and Western Europe. Technological advances and advanced healthcare infrastructure are mainly driving the growth of the regional market.
The Asia-Pacific regional gene therapy market is anticipated to record the highest growth over the review timeframe owing to the growing number of patients and bringing problems to light about the treatment policies. The region is further divided into Australia, South Korea, India, China, Japan, and the remainder of Asia-Pacific.
The Middle East and African regional market are expected to witness sluggish growth over the forecasted era due to the lack of awareness and proper healthcare infrastructure.
The global market for gene therapy has a highly intense competitive landscape given the huge number of market players spread worldwide. The players in the market are adopting several new strategies such as partnerships, product development, innovations, mergers, etc., to grow their businesses. The list of leading players in the gene therapy market include companies such as Lonza (Switzerland), uniQure N.V. (Netherlands), Thermo Fisher Scientific Inc. (US), Gilead Sciences, Inc. (the US), Bristol-Myers Squibb Company (US), Spark Therapeutics, Inc. (the US), Orchard Therapeutics plc (UK), CEVEC (Germany), Celgene Corporation (US), Novartis AG (Switzerland), Amgen, Inc. (the US), and many others.
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October 2021- The leader in precision genetic medicine for rare diseases, Sarepta Therapeutics, Inc., announced the partnership with Roche in the U.S. and countries across the globe, of study SRP-9001-301 called EMBARK, a vital study of SRP-9001 for the treatment of Duchenne muscular dystrophy. SRP-9001 is a new gene transfer therapy aimed to offer its micro-dystrophin-encoding gene to muscle tissue for the directed production of the micro-dystrophin protein.
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