Faster Drug Approval by Regulatory Bodies is Expanding Value Pool of Gene Therapy Market
Gene therapy is undergoing material shifts in numerous research areas with the advent of synthetic biology.
Influenced by its potential in developing drugs that pose the potential to address rarely-occurring disorders, gene therapy is increasingly becoming an area of interest for myriads academic institutes and research centers, especially in the field of oncology.
Amidst spurts in gene therapy, the healthcare vertical must re-evaluate its development and reimbursement framework for therapies and treatment methods that steer away from the conventional approach to diseases cure.
Market players are teaming with biopharmaceutical companies, research institutes, and clinical research organizations (CROs) to form and scale up key healthcare technologies as well as novel services and products.
Following an astounding growth curve, the global gene therapy market revenue will surge over 3X over 2020-2026.
While over 150 empirical novel drugs have been patented for gene therapy in recent past, Fact.MR underlines that the number is likely to increase (10-15 annually) in the near term.
Yescarta Maintains its Lead, Luxturna to Witness Rapid Adoption Upswing
Capturing over half of total gene therapy market value, Yescarta continues to generate greater total returns to shareholders (TRS), compared to other drugs.
The gene therapy drug received approval from the food & drug administration (FDA) for treating adults having diffuse large B-cell lymphoma (DLBCL).
However, this study reveals that Yescarta is expected to lose its grip in the market revenue in due course of time.
Market players are also allocating their capital to Kymriah, which has been approved by the FDA as a one-team treatment for adults having relapsed/refractory B-cell ALL (ALL).
That being said, cost constraint associated with the drug is likely to hinder its adoption in gene therapy research. Furthermore, Luxturna is experiencing noteworthy growth rate, and would represent multibillion-dollar opportunity in 2026.
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Europe to Outperform the US
At present, the US gene therapy market is reflecting opportunities of growth and profitability, procuring nearly 3/5 of total market stack.
In response to rising cancer caseloads, governments in the region have been showing immediacy by increasing their spending in oncology research, and development of novel drugs and therapeutics.
Further, the FDA has granted approval to certain drugs – Yescarta, and Kymriah – for treating rare diseases.
In a similar fashion, the gene therapy market in Europe is also expected to offer potential growth avenues. Fact.MR suggests that the region will outpace North America towards the end of projection period.
The European Medicine Agency (EMA) has approved the use and commercialization of Strimvelis, which is yet to receive approval in the US, for treatment of severe adenosine deaminase-deficient severe combined immunodeficiency (ADA-SCID).
Rise in Gene Therapy Treatment Centers to Shape Market Landscape
Given faster regulatory uptake for drug approvals and potential success rates of gene therapy, market players are focusing on establishing gene therapy treatment centers, particularly in the developed regions.
In addition, governments are increasing their expenditure in upgrading their healthcare system in order to address a larger number patient pool requiring gene therapy.
Gilead Sciences Inc., for instance, has decided to increase the number of gene therapy centers to 90.
In addition, the firm has established the Kite Connect Program to deliver information and aid such as insurance benefits throughout the Yescarta therapy process.
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Gene Therapy Market Segmentation
The Fact.MR study scrutinizes the global gene therapy market on the basis of product, application and key regions.
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Gene Therapy Market - Scope Of The Report
The latest study by Fact.MR on gene therapy market underlines a 6-year forecast between 2020 and 2026. The study examines key trends that are currently shaping the growth trajectory of gene therapy market.
This report elucidates on major dynamics including, drivers, restraints and opportunities for leading as well as emerging market players associated with the development of gene therapy.
The study further covers factors that are responsible for influencing the growth outlook of the gene therapy market over the time ahead.
A comprehensive analysis of gene therapy market value chain assessment, implementation of business tactics, and supply chain assessment across the regional markets has been enclosed in the report.
A list of prominent players running in the gene therapy market along with their business footprint complements the authenticity of this detailed research study.
Gene Therapy Market: Report Summary
The research study provides a comprehensive assessment on diverse factors such as product developments, demand and supply, manufacturing capacities, and value creation in gene therapy market across the globe.
The report offers a precise projection about the gene therapy market via a conservative scenario as well as an optimistic scenario, with prime focus on the adoption radar of gene therapy market over the forecast period.
Furthermore, price point comparison by region with global average price is covered in the detailed report.
Gene Therapy Market: Analysis on Market Size Evaluation
The report analyzes gene therapy market for every market segment, in terms of value (US$ Mn). A Y-o-Y growth of key gene therapy market segments, along with assessment of lucrative opportunities has been included in the report. Further, the absolute dollar opportunity analysis of each segment adds value to the report.
Absolute dollar opportunity is essential in examining the scale of opportunity that a manufacturer/distributor can seek to achieve long-term returns along with recognizing potential growth avenues, taking into account sales and distribution viewpoint in the global gene therapy market.
Gene Therapy Market: Inspected Assessment on Regional Segments
The gene therapy market study elaborates important sections that have aided to provide forecast for all the regional markets.
These chapters consist of the regional macros (political, economic, and business environment projection), which are anticipated to have a measurable impact on the growth curve of gene therapy market during the forecast period.
The report also deduces value creation on regional as well as country level on demand for gene therapy, along with the growth projection, price index, and impact assessment in each region and country. In addition to this, for every regional market, Y-o-Y growth evaluations have also been added in the report.
Gene Therapy Market: In-Depth Analysis on Competitive Landscape
The report puts emphasis on the prominent players of gene therapy market in tandem with their detailed backgrounds.
Critical and updated information associated with the market participants -primarily engaged in the development of gene therapy - has been collected with the help of an in-depth dashboard view.
Market share evaluation and comparison of key players covered in the report enables the readers to implement proactive decisions in boosting their revenue pool.
Company profiles included in the report includes requisites including, product footprint, and vital growth tactics along with thorough SWOT analysis on every market player.
Company foothold is sized up and elaborated through the matrix for each leading player, which aids in carefully presenting market status, and foreseeing the degree of competition in gene therapy market.
Key players with strong market presence in global gene therapy market are, but not limited to, Novartis AG, Gilead Sciences Inc., Spark Therapeutics Inc., Sibiono GeneTech Co. Ltd., Spark Therapeutics, Inc., CELGENE CORPORATION, and Orchard Therapeutics Limited, among others.
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