Global Gene Therapy Market Grows Exponentially Driven by Growing Number of Approvals and Strong Clinical Pipeline, According to Kuick Research
/ EIN News / – Delhi, November 25, 2021 (GLOBE NEWSWIRE) – Highlights of the Global Gene Therapy Market Report and Clinical Trials
- Global Gene Therapy Market Landscape USD 24 Billion Opportunity
- Comprehensive business and clinical overview of 16 approved gene therapies
- Gene Therapy Product Dosage and Price Analysis
- Comprehensive clinical overview of 1,700 gene therapies in clinical trials
- Information on 45 gene therapies designated orphan by indication, country, company
- Global Gene Therapy Clinical Trials Overview by Phase, Country, Formulations, Company, Indication, Target
- Global and regional market overview
For an example of a Contact report [email protected]
Gene therapy is a new treatment modality that involves inserting one or more corrective genes that have been designed in the laboratory into patients’ cells to treat disease. It is a way to correct genetic disorders by introducing a normal and healthy gene instead of defective genes into a cell, in order to prevent / cure different types of genetic and chronic disorders for which no definitive cure has been developed. To date, several gene therapy products have entered the market indicated for the treatment of several chronic and genetic disorders.
Currently, the majority of the global gene therapy market is dominated by strong sales of Spinraza and Zolgensma, which are indicated for the management of spinal muscular atrophy. In addition, the approval of a large number of chimeric antigen receptor T cell therapy products, including Yescarta, Kymriah, Abecma, and others, indicated for cancer management, which have shown high levels of high adoption. Apart from this, several other gene therapy products have also entered the market, which has provided a new paradigm in the management of several rare and chronic diseases. Although they have been shown to dramatically improve patient outcomes, the market is mostly constrained by their high prices.
The main pharmaceutical companies in the market focus on research and development activities in this area. Researchers are currently evaluating the role of therapy for various diseases, including cancer, cystic fibrosis, hemophilia, AIDS, and diabetes. For example, in November 2021, Sio Gene Therapies reported positive interim data for the Phase I / II gene therapy trial of AXO-AAV-GM1 for the treatment of GM1 gangliosidosis, a genetic disease that gradually destroys nerve cells in the brain and spinal cord. . The rapid approval of gene therapy in a wide range of diseases will further propel the market growth during the forecast period.
The global cell and gene therapy market is highly concentrated, with a small number of large players. Global pharmaceutical players are increasingly focusing on pursuing inorganic growth strategies such as acquisitions and investments to expand their presence, enhance their product portfolio and enhance their expertise in the market. For example, in July 2021, Minova Therapeutics Inc. entered into a collaboration and licensing agreement with Astellas Pharma Inc. for the research, development and commercialization of novel cell therapy programs for diseases caused by mitochondrial dysfunction. Other key players in the market are Gilead Science, Amgen, Jazz Pharmaceutical, Biogen and others.
According to the findings of our report, the global gene therapy market is expected to exceed US $ 24 billion by 2028. In the future, the increase in the prevalence of cancer and chronic diseases, the increase in the geriatric population, the increasing emphasis on cell and gene therapy and increasing healthcare spending is driving the growth of the global therapy market. Among the regions, the United States is expected to have a majority share and will increase with high CAGR rates during the forecast period. This is mainly attributed to the large number of ongoing clinical trials combined with the presence of key players focusing on research and development activities relating to cell and gene therapy. In addition, the strong adoption of gene therapy products, increasing government initiatives and the development of favorable reimbursement policies will further stimulate growth in the region.
The Global Gene Therapy Market provides insights into the global and regional market along with the analysis of different influencing factors such as drivers, restraints, and opportunities. For market estimates, data has been provided for the year 2020 as the base year, with forecast for 2021-2026. By geography, the market has been segmented into several regions including United States, Europe, China, Japan, Taiwan, South Korea, Germany, and India. As a guide, the market has been segmented into cancer, CNS and others. Apart from this, a comprehensive list of major players operating in the global Gene Therapy market are also mentioned in the report.
Head of research
Contact: Neeraj Chawla Research Head [email protected] +919810410366