Demand for Gene Therapy Market Scope Assessment 2021-2028

According to Transparency Market Research's latest report on the global gene therapy market for the historical period 2017-2019 and forecast period 2021-2028, promising therapeutic outcomes, new product approvals & commercialization, high prevalence, and increase in incidence of cancer are projected to drive the global gene therapy market during the forecast period

Research Report: https://www.transparencymarketresearch.com/gene-therapy-market.html

New Product Approvals & Commercialization: Major Driver

Increase in competition among the leading biopharmaceutical companies to approve and commercialize gene therapy products in different areas of unmet medical needs to gain the first mover advantage is expected to boost the growth of the gene therapy market during the forecast period

For instance, in May 2016, GlaxoSmithKline's gene therapy product, Strimvelis, received marketing approval for the treatment of patients with a very rare disease called ADA-SCID (Severe Combined Immunodeficiency, due to Adenosine Deaminase deficiency). Strimvelis is the first ex-vivo stem cell gene therapy to be approved in Europe for the treatment of ADA-SCID.

In August 2017, the U.S. FDA approved Novartis AG's flagship gene therapy product Kymriah for the treatment of children and adults up to the age of 25 years affected with B-cell precursor acute lymphoblastic leukemia (ALL)

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High Prevalence and Increase in Incidence of Cancer: Key Driver

High prevalence and increase in incidence rate of different types of cancers for which complete cure has not been developed is a key factor expected to drive the global gene therapy market during the forecast period

Diffuse large B-cell lymphoma (DLBCL), a type of white blood cell cancer, is a highly common aggressive form of non-Hodgkin lymphoma in adults. DLBCL affects around 7-8 cases per 100,000 population in the U.S. and the U.K. In the U.S., every year, around 7,500 patients are eligible for the treatment CAR-T cell therapy. DLBCL accounts for around 40% of all non-Hodgkin Lymphoma cases globally.

Gene therapy products Yescarta and Kymriah have been approved for the treatment of diffuse large B-cell lymphoma (DLBCL) and acute lymphoblastic leukemia (ALL), respectively

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High Cost of Gene Therapy and Limited Reimbursement to Hamper Global Market

Gene therapy is a highly expensive treatment available in the world. High cost of gene therapy and limited reimbursement deter patients from availing treatment. Consequently, gene therapy companies have not generated the expected revenue.

For instance, Spark Therapeutics Inc.'s gene therapy product Luxturna, for the treatment of retinal dystrophy, is priced US$ 8,50,000 per treatment, making it the world's most expensive gene therapy.

High price of gene therapy products is creating challenges for payers to make up front payment to these companies. However, biopharmaceutical companies, payers, and government institutions are working together to develop different pricing models for the reimbursement of gene therapy products.

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Gene Therapy Market: Competition Landscape

This report profiles major players in the global gene therapy market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
The global gene therapy market is consolidated, with the presence of five major global players

Leading players operating in the global gene therapy market are

Novartis AG
Orchard Therapeutics Limited
Celgene Corporation
Spark Therapeutics, Inc.
Gilead Sciences, Inc.
Sibiono GeneTech Co. Ltd., among others

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