Press release
2021| Gene Therapy Market Growth and industry share by key player's analysis- Allergan, Shire, Biomarin, Pfizer and GSK
Gene Therapy Market
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Gene therapy involves inactivating a mutated gene that is not functioning properly and introducing a new gene to assist in fighting a disease. Overall, the field of gene therapy continues to mature and advance with many products in development and nearing commercialization. For instance, Spark Therapeutics received approval of Luxturna, a rare form inherited blindness in December 2017. Gene therapy market in late 2017 also witnessed the approvals of Gilead/Kite Pharma's Yescarta and Novartis? Kymriah in the cancer therapeutic area.
Gene therapy offers promise in the treatment of range of indications in cancer and genetic disorders. Large Pharmaceuticals and Biotechnology companies? exhibit strong interest in this field and key among them include Allergan, Shire, Biomarin, Pfizer and GSK. The gene therapy space is witnessing a wave of partnerships and alliances. Pfizer has recently expanded its presence in gene therapy with the acquisition of Bamboo Therapeutics and Allergan entered the field, with the acquisition of RetroSense and its Phase I/II optogenetic program.
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North America holds a dominating position in the global gene therapy market which is followed by Europe and the Asia Pacific. The U.S. has maximum number of clinical trials ongoing followed by Europe. Moreover, the field of gene therapy in the U.S. and Europe continues to gain investor attention driven by success of high visible clinical programs and the potential of gene therapy to address strong unmet need with meaningful commercial opportunity. Moreover, the increasing partnerships and alliances and the disruptive potential of gene therapy bodes well for the sector through the forecast period.
According to a new report, the global gene therapy market is anticipated to reach USD 4,300 million by 2021. The demand for gene therapy is primarily driven by continuous technological advancements and successful progression of several clinical trials targeting treatments with strong unmet need. Moreover, rising R&D spend on platform technologies by large and emerging biopharmaceutical companies and favorable regulatory environment will accelerate the clinical development and the commercial approval of gene therapies in the foreseeable future. Despite promise, the high cost of gene therapy represents a significant challenge for commercial adoption in the forecast period.
Some of the Highlights about Table of Content of The Future of Gene Therapy Market
1 The Future of Gene Therapy Market overview
Market Introduction
Research Objectives
Years Considered
The Future of Gene Therapy Market Research Methodology
Economic Indicators
Currency Considered
2 Executive Summary
World Market Overview
Global The Future of Gene Therapy Consumption analysis and forecast
The Future of Gene Therapy Consumption CAGR by Region
3 Market Drivers, Challenges and Trends
The Future of Gene Therapy Market Drivers and Impact
Growing Demand from Key Regions
Growing Demand from Key Applications and Potential Industries
Market Challenges and Impact
The Future of Gene Therapy Market Trends
4 Marketing, Distributors and Customer
Sales Channel
Direct Channels
Indirect Channels
5 Key Players Analysis
Company Details
Main Business Overview
Product Benchmarking
Recent Developments and Technological Advancement in The Future of Gene Therapy Market
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