Hampering Growth of Cell and Gene Therapy Market Several Development Challenges

Launch of novel cell and gene therapy by market players is expected to augment the market growth 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.

Gene therapy aims at influencing the course of various genetic and acquired disorders at the genetic level whereas cell therapy targets various diseases at the cellular level i.e. by restoration of a certain cell population or using cells as carriers of therapeutic carrier. High prevalence of cardiovascular disease is expected to propel demand for cell and gene therapy, which in turn is expected to drive the market growth.

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According to the World Health Organization (WHO), May 2017, around 17.9 million people died due to cardiovascular disease in 2016 globally, which accounts for 31% of all worldwide deaths. According to WHO, in 2012, cancer was the second leading cause of morbidity and mortality globally, with around 14 million new cases registered in 2012 and in 2015, cancer was responsible for 8.8 million deaths, worldwide. Moreover, WHO stated that the number of new cases is expected to rise by around 70% by 2030.

Furthermore, introduction of effective guidelines is expected to propel growth of the global cell and gene therapy market over the forecast period. For instance, the U.S. Food and Drug Administration (FDA) included around 28 guidelines documents from 1998 to 2018 regarding various cell and gene therapies.

Key players operating in the global cell and gene therapy market include Amgen, Biogen, BioMarin Pharmaceuticals, Bristol-Myers Squibb Company, GlaxoSmithKline, Novartis, Pfizer, Regeneron Pharmaceuticals and Sanofi, Spark Therapeutics, Agilis Biotherapeutics, Angionetics AVROBIO, Freeline Therapeutics, Horama, MeiraGTx, Myonexus Therapeutics, Nightstar Therapeutics, Kolon TissueGene, Inc., JCR Pharmaceuticals Co., Ltd., and MEDIPOST

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