Growing cases of genetic disorders and fast track drug approval by regulatory agencies are generating revenue prospects for gene therapy market players.
Growing cases of genetic disorders and fast track drug approval by regulatory agencies are generating revenue prospects for gene therapy market players.
Fact.MR, New York: The latest report by Fact.MR on global gene therapy market projects a healthy growth through 2021 and was valued around US$ 5 Bn by 2026. Rising cases of cancer cases such as lymphoblastic leukemia and other rare genetic orders across countries such as United States, UK and Germany are propelling the adoption of gene therapy. Additionally, increasing application of gene therapy for diseases such as cystic fibrosis, muscular dystrophy, hemophilia, immunodeficiency syndrome and other cancer results from defective genes is spurring the growth of market. According to Fact.MR’s analysis, leading players are investing heavily in the research and development funding for the development and fast track approval of novel medicines for such rare genetic disorders.
Furthermore, government regulatory bodies such as U.S. Food & Drugs Administration (FDA), European Medicine Agencies (EMA) and others are initiating the awareness programs for these rare immunodeficiency disease. Along with that, these regulatory bodies have approved for drugs such as yescarta and kymriah, for treatment of B-cell lymphoblastic leukemia and relapsed B-cell Acute Lymphoblastic Leukemia (ALL). However, revenue for these two drugs is expected to drop over the course of time.
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Despite the market drop on the above mentioned drugs, ongoing research studies and high investments for the drug development and gene therapies for adenosine deaminase deficient severe combined immunodeficiency (ADA-SCID) will spur the growth. Backed by these factors, market players are expected register lucrative growth opportunities over the coming years.
“Manufacturers are investing heavily in research & development (R&D) for novel drug development of cancer types such as B-cell ALL, ADA-SCID and other rare immunodeficiency genetic diseases. On the back of these initiatives, immense growth revenues are expected over the coming years,” says a Fact.MR analyst.
Key Takeaways
- Global gene therapy to register 3X increase in its growth through 2021 & beyond
- Yescarta, accounting for over 50% of total market share, remains the most preferred product over other drugs among key players
- Luxturna is anticipated to take over yescarta with a noteworthy growth rate through 2026
- Application in oncology will spur the gene therapy sales throughout the forecast period
- US holds the largest market share for gene therapy, while UK and Germany are the forefront of European gene therapy market
- Rising cancer cases in Belgium and France is expected to provide wide growth opportunities for market player
Prominent Drivers
- High incidence of cancer and other genetic immunodeficiency diseases are increasing the adoption of gene therapy, spurring the growth
- Fast track drug approvals by regulatory bodies and high research & development funding for new pipeline projects is propelling the demand
Key Restraints
- High cost of treatment and lack of awareness about the rare genetic diseases will restrict the growth of gene therapy market
Discover more about the gene therapy market with 79 figures and 59 data tables, along with the table of contents.
https://www.factmr.com/report/4648/gene-therapy-market
Competitive Landscape
Novartis AG, Gilead Sciences Inc., Spark Therapeutics Inc., Sibiono GeneTech Co. Ltd., Spark Therapeutics Inc., CELGENE Corporation, and Orchard Therapeutics among others. Leading players are adopting organic and inorganic strategies such as partnerships and collaborations, acquisitions to maintain its position in the industry.
For instance, Genethon, a research center for tracking down the genesis and deciphering genome responsible for genetic diseases, on 20th April 2021, announced its first patient dosed in clinical trial for gene therapy for Duchenne Muscular Dystrophy (DMD).
Also, in March 2021, Taysha Gene Therapies, a patient-centric clinical gene therapy company, announced the collaboration to advance next-generation mini-gene payloads for AAV gene therapies for the treatment of neurodevelopmental disorders.
Furthermore, Apic Bio Inc., an innovative gene therapy company developing novel treatment options for patients with rare genetic diseases announced that it received a breakthrough, on April 21st 2021, for its Investigational New Drug (IND) application for APB-102 for the treatment of SOD-1 amyotrophic lateral sclerosis (ALS) from U.S. Food and Drug Administration.
Some of the leading players are also investing in developing new plants to expand their regional footprints, for instance, in March 2021, Biogen Inc., announced its new plan to build a new state-of-the-art gene therapy manufacturing facility in research triangle park, North Carolina to support its growing gene therapy pipeline across multiple therapeutic areas.
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More Valuable Insights on Gene Therapy Market
Fact.MR has published a latest market research report on global gene therapy market for the period 2021-2031. The study gives a detailed segmentation on the trends, challenges and drivers of the market expected to prevail in the upcoming years. In order to gain a better understanding, the market is segmented on the basis of product (yescarta, kymriah, luxturna, strimvelis, and gendicine), application (ophthalmology, oncology, adenosine deaminase deficient severe combined immunodeficiency (ADA-SCID)) across United States, Europe and rest of the world.
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