May 11, 2022
According to the industry analysis 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)’ available with MarketStudyReport, global gene and cell therapy market, which generated revenues worth USD 2504.2 million in 2020, is estimated to expand substantially during 2021-2026.
Growing investments in cell and gene therapies, rising R&D activities, an increasing number of public-private partnerships, mounting health care expenditure, advancements in cancer drug discovery, surging pharmaceutical R&D expenditure, and strong economic growth in developing markets are some of the major factors driving the growth of the global gene and cell therapy market.
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However, factors such as inadequate reimbursements, low healthcare access, limited number of treatment centers, expensive therapies, and stringent regulations, could hinder the market progression in the upcoming years.
The gene and cell therapy market is fragmented in terms of vector type, application scope, and regional contribution.
Based on vector type, the market is segmented on the basis of Retrovirus & Gammaretrovirus, AAV, Lentivirus, and others.
Moving on to application scope, the market is divided into cardiovascular disorders, oncology, neurological disorders, and others. Among these, the oncology segment is estimated to expand substantially over the forecast period, owing to rising product innovation through strategic partnerships, sharing skills & expertise as well as collaborating with each other & academic and research institutions, and making in or out-licensing deals.
The geographical analysis of this business space extends to Latin America, Asia-Pacific, North America, Middle East & Africa, and Europe, with major emphasis on countries such as South Korea, China, India, Japan, France, the U.K., Germany, U.S., and Canada.
The key players in the global gene and cell therapy industry include F. Hoffman-La Roche Ltd., Sanofi S.A., Pfizer Inc., Sarepta Therapeutics Inc., Orchard Therapeutics plc, Novartis International AG, Alnylam Pharmaceuticals Inc., BlueBird Inc., Voyager Therapeutics, and AnGes MG, Inc.