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Cell and Gene Therapy Market Revenue Opportunies By Key Vendors Amgen, Biogen, BioMarin Pharmaceuticals, Bristol-Myers Squibb Company, GlaxoSmithKline, Novartis, Pfizer

04-01-2019 03:58 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Coherent Market Insights

Cell and Gene Therapy

Cell and Gene Therapy

Increasing prevalence of cancer diseases is a major factor driving the cell and gene therapy market growth. According to the World Cancer Research Funds and the American Institute for Cancer Research, in 2018, there were around 18 million cases of cancer, of which around 9.5 million were in men and around 8.5 million in women, globally. Moreover, introduction of innovative products and rich pipeline of cell and gene therapy is expected to boost the market growth. For instance, around 150 gene therapies are currently in the development stage. Gene replacement accounts for around two third of gene therapy pipeline. However, around 49% of gene therapies are under preclinical and discovery stages. During 2012-18, around 351 gene therapy deals were signed. For instance Gilead’s Kite Pharma received exclusive rights to Sangamo Therapeutics’ zinc finger nuclease gene editing technology, for $3.2bn.

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Key players in the market are focused on launching novel cell and gene therapies, in order to treat various diseases and address the critical unmet needs of patients. For instance, in June 2011, Fibrocell Technologies, Inc. received approval from the U.S. Food and Drug Administration (FDA) for Azficel-T, which can be used for the treatment of nasolabial fold wrinkles.

Moreover, in November 2011, New York Blood Center, Inc. received approval from FDA for Hemacord. It is indicated for unrelated donor hematopoietic progenitor cell transplantation procedures and in patients with disorders affecting the hematopoietic system that are inherited, acquired, or results from myeloablative treatment in children. In October 2017, Kite Pharma received approval from the U.S. FDA for Yescarta (axicabtagene ciloleucel), which is used for the treatment of adults with large B-cell lymphoma. It was the first chimeric antigen receptor (CAR) T-cell therapy to receive FDA approval for large B-cell lymphoma.

Key players in the market are focused on adopting strategies such as mergers and acquisitions to enhance their product portfolio. For instance, in June 2017, Johnson & Johnson acquired Actelion Ltd. Moreover, in October 2017, Gilead Sciences acquired Kite Pharma. Kite Pharma is involved in developing chimeric antigen receptor T-cell therapy, to recognize and attack malignant cells.

Increasing research and development activities is expected to increase demand for cell and gene therapy. According to the Catalyst report, in December 2018, around 289 novel cell and gene therapies were in development for a variety of diseases, of which around 111 medicines were for cancer and around 28 medicines were for cardiovascular disease. These medicines in development are either in clinical trials or awaiting for approval from the U.S. Food and Drug Administration (FDA).

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About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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