Press release
Gene Therapy Market Opportunity, Trend, Drivers, Restraint, Demand, Global Business Growth of USD 12.46 billion with an Excellent CAGR of 20.9% by The End of 2029
Gene Therapy Market
Data Bridge Market Research analyses a growth rate in the global gene therapy market in the forecast period 2022-2029. The expected CAGR of global gene therapy market tend to be around 20.9% in the mentioned forecast period. The market was valued at USD 2.73 billion in 2021, and it would grow upto USD 12.46 billion by 2029.
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Drivers
Increasing Initiatives by Market Players
Biopharma companies have undertaken numerous initiatives to attain a competitive edge in the market. Several companies are adopting numerous market entry strategies, such as biopharma facility expansions, development with Contract Manufacturing Organizations (CMOs) and collaborations with other key stakeholders. For instance, in March 2020, Univercells launched Exothera, which is a viral vector CDMO that provides cell and gene therapy developers.
Rising Cases of Spinal Muscular Atrophy
Spinal Muscular Atrophy (SMA) is a rare disease but one of the most common fatal inherited diseases of infancy. With regards to its treatment, the development of gene therapy, Zolgensma (AVXS-101), has knowingly proven its efficiency in the treatment of SMA, combined with changing the disease phenotype. For instance, in May 2019, Novartis received approval from the U.S. FDA for Zolgensma, that is designed to address the primary cause of SMA. Thus, it boosts the market growth.
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About Data Bridge Market Research, Private Ltd
Data Bridge Market Research Pvt Ltd is a multinational management consulting firm with offices in India and Canada. As an innovative and neoteric market analysis and advisory company with unmatched durability level and advanced approaches. We are committed to uncover the best consumer prospects and to foster useful knowledge for your company to succeed in the market.
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