Gene Therapy Market Overview
As per the MRFR research reports, the global gene therapy market will likely register a robust CAGR of over 23.30% during the review timeframe from 2021 to 2027. Gene therapy refers to a technique where a piece of DNA is connected to the cell via a vector. The global gene therapy market has witnessed a massive surge in demand over recent times. The major players in the gene therapy market worldwide are investing heavily in the development of cell and gene therapy medicines due to their objective explicitness.
The gene therapy market growth is driven by the high predominance of target illnesses, interest in innovative medicine, expanding venture by vital participants, and robust item pipeline. However, the market’s growth is likely to be hampered by the lack of repayment options and significant expenses related to gene therapy.
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Gene Therapy Market Segment Analysis
The global gene therapy market is divided into several segments based on product, indication, end-user, and region.
Based on product, the global market is divided into zynteglo, zolgensma, yescarta, imlygic, luxturna, kymriah, strimvelis, and much more.
By indication, the global market is split into hereditary illnesses, oncology, and much more.
Based on end-user, the gene therapy market is divided into clinics and facilities, forte treatment habitats, and much more.
Gene Therapy Market Regional Outlook
The global gene therapy market is studied across four major regions: Asia-Pacific, Europe, the Americas, the Middle East, and Africa.
According to the MRFR reports, the American regional gene therapy market is likely to dominate globally over the review timeframe. The regional market’s growth is driven by the rising per capita medical care consumption and the expanding pervasiveness of quality treatment. The regional market is further divided into Latin America and North America.
The European regional market will likely register substantial growth over the review timeframe. The region is further divided into Eastern Europe and Western Europe. The well-established medical infrastructure is driving the regional market’s growth.
The Asia-Pacific region is projected to grow at the highest pace over the coming years. The bringing issues are driving the regional market’s growth to light about the treatment strategies and growing number of patients.
Given the lack of skilled professionals and poor health infrastructure, the gene therapy market for the Middle East & African region is likely to record the CAGR over the assessment timeframe.
Gene Therapy Market Competitive Analysis
The global gene therapy market has an intensely competitive landscape with a wide number of players spread worldwide. The list of leading players in the market includes Amgen, Inc. (US), Lonza (Switzerland), uniQure N.V. (Netherlands), Thermo Fisher Scientific Inc. (US), Gilead Sciences, Inc. (US), Bristol-Myers Squibb Company (US), Orchard Therapeutics plc (UK), Spark Therapeutics, Inc. (US), Novartis AG (Switzerland), Celgene Corporation (US), CEVEC (Germany), and many others.
BlueCube Bio has officially disclosed the transition of the company’s name to Evia Bio™ simultaneously with the launch of a substantial new cryopreservation technology to be used in gene and cell therapies using Induced Pluripotent Stem Cells (iPSCs). The osmolyte-based solution boosts cell survival over commercially available DMSO-based options that are vital in comprehending the potential of these therapies.
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The Cystic Fibrosis Foundation is investing in three new early-stage research awards with a net worth of over USD1.8 Million to boost the development of potential gene therapies for cystic fibrosis (CF). Executive vice-president and chief scientific officer of the CF Foundation, William Skach, MD, said that the funding would help crucial early steps mandatory for developing genetic therapies for cystic fibrosis.
a biopharmaceutical company focused on discovering, producing, and distributing gene therapies to cure blindness diseases and developing a vaccine to fight COVID-19, Ocugen, Inc., announced that the US FDA has accepted the company’s Investigational New Drug application (IND) to start a first-in-human clinical trial of OCU400 (AAV-NR2E3).
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