Global gene and cell therapy market was worth USD 2504.2 million in the year 2020 and is slated to register a healthy CAGR over 2021-2026.

Industry snapshot:

• Increasing investments in cell & gene therapies (GCT), escalating healthcare expenditure, advances in cancer drug discovery, strong economic growth in emerging countries, rising pharmaceutical R&D expenditure, and public-private partnerships are boosting the market growth.
• Rising incidences of cancer and chronic diseases, along with expanding elderly demographic are slated to augment industry growth over 2021-2026.
• Insufficient reimbursements, challenges emerging from regulatory changes, limited healthcare access in certain geographies, along with high costs of therapy are restricting worldwide gene and cell therapy industry expansion.

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Segmental overview:

Vector	Retrovirus & Gammaretrovirus
	Lentivirus
	AAV
	Others
Application	Neurological Disorders
	Cardiovascular Diseases
	Oncology
	Others
Regions	North America
	Europe
	Asia Pacific
	LAMEA

 

Window to the future:

• The oncology segment is likely to showcase modest growth over 2021-2026, owing to widespread usage of gene & cell therapy in diagnosing, preventing, and treating cancer cases.

Explainer:

Gene and cell therapy (GCT) is an innovative method for creating cures and effective therapies for congenital and other disorders. By focusing on the causes of disease at the genetic level, GCT offers the ability to stop or mitigate their effects.

Major companies influencing global gene and cell therapy market dynamics are F. Hoffmann-La Roche AG, Voyager Therapeutics Inc., Novartis International AG, Sanofi S.A., Alnylam Pharmaceuticals Inc., Pfizer Inc., AnGes Inc., BlueBird Inc., Orchard Therapeutics plc, and Sarepta Therapeutics.

Oncology drug companies have been collaborating with academic and research institutions through partnerships, in or out-licensing agreements, and will continue to do so in the coming years so as to diversify their portfolio and maintain their standing in
the market.

Concluding lines:

Market research assists firms in generating maximum profits by effectively positioning their products and services in the industry. MarketStudyReport has a report titled ‘Global Gene and Cell Therapy (GCT) Market - Analysis By Vector, Application, By Region, By Country (2021 Edition): Market Insights, Pipeline, Forecast with Impact of COVID-19 (2021-2026)’ which talks about major growth determinants, potential prospects, and challenges prevailing in the industry space. This report is created after a careful investigation of the current situation and provides necessary information to the businesses operating in this field.