iCrowdNewswire Dec 31, 2020 8:43 AM ET
Market Research Future (MRFR) analyzed that the global gene therapy market through the study period till 2025. By 2025, the gene therapy market can rise at 40.7% CAGR. The global gene therapy market can value at USD 524 Mn by 2025. The rise in application of gene editing and genomics can underline the market expansion in the near future. The availability of affordable gene therapy and robust pipelines products can contribute to the market growth. The rise in practice of clinical gene therapy and expansion of product portfolio by different companies favoring the same can support the market rise in the near future. Increase in cases of cancer, creating the need for gene therapy, especially for patients with terminal conditions, can benefit the market. Issues concerning the market rise are discussed in the report.
Gene Therapy Market Segmentation
The gene therapy market segment assessment is done by product, end-user, and indication. The product type-based segments of the gene therapy market are Kymriah, Yescarta, Luxturna, Strimvelis, Zolgensma, Imlygic, and Zynteglo among others. The introduction of new drugs by reputed pharma companies and rise adoption of gene therapy by the growing number of cancer patients can support rise of the market in the approaching years. Yescarta and Luxturna, and the availability of blockbuster drugs can support rise of the gene therapy market across the evaluation period.
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The indication-based segments of the gene therapy are genetic disorder, and oncology among others. The oncology segment can surge at high CAGR to earn substantial turnover by 2025. The gradual increase in application of gene therapy for genetic disorder can add to the market expansion by end of the analysis period.
The end-user-based segments of the gene therapy market are specialty treatment, and hospital and clinics among others. The specialty treatment hospital segment can rise at decent pace to acquire high revenue by 2025. The rise in adoption of gene therapy across hospital and clinics can gain traction.
Gene Therapy Market Regional Analysis
The Americas can rise at decent pace in the near future due to gradual rise in prevalence of gene therapy in the region. The hike in per capita healthcare expenditure can add to the gene therapy market in the region. Latin America and North America gene therapy market can thrive in the years to come. In Europe, the gene therapy market can expand at high pace. In Asia Pacific, gene therapy market can earn decent turnover. COVID-19 pandemic is creating disruptions over a wide range of industries. Its impact on supply & demand chain and issues associated with several companies can hinder the market rise across the analysis period. Issues with commenced operations, followed by social distancing measures in the pandemic are lowering workforce that are observed to adversely impact the market across different regions. The increase in number of Phase I clinical trials for oncology treatment across the globe and early approval of drugs by the U.S Food and Drug Administration (FDA) can favor the market rise in the region. The rise in research studies and introduction of innovations in this field can influence the gene therapy market through the assessment period.
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Gene Therapy Market Key Players
Spark Therapeutics, Inc. (US), Novartis AG (Switzerland), Gilead Sciences, Inc. (US), Orchard Therapeutics plc (UK), uniQure N.V. (Netherlands), Celgene Corporation (US), Thermo Fisher Scientific Inc. (US), Bristol-Myers Squibb Company (US), CEVEC (Germany), Amgen, Inc. (US), and Lonza (Switzerland) are some reputed names in the gene therapy market that are listed by MRFR to study growth dynamics of the market.
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Keywords: Gene Therapy Market Size, Gene Therapy Market Trends, Gene Therapy Market Growth, Gene Therapy Market Insights, Gene Therapy Market Demand, Gene Therapy Market Share, Gene Therapy Market Application, Gene Therapy Market Segmentation