Demand-Supply Scenario of Gene Therapy Market To Remain Balanced During Forecast Period 2022 – 2031 : Fact.MR

Gene therapies have emerged as a promising treatment approach to address various diseases such as cancer, and certain inherited disorders with a single curative dosage. Although they are poised to ensure cost savings in the long run, their high initial expenses and uncertainties regarding their prolonged efficacy are an existing challenge for market players.

Government agencies including, the Food and Drug Administration (FDA), and the European Medicines Agency (EMA), have approved the usage of drug – Kymriah, and Yescarta – to treat elapsed/refractory B-cell Acute Lymphoblastic Leukemia (ALL), and diffuse large B-cell lymphoma (DLBCL). However, the market uptake of both these gene therapy products have been below par.

Despite the ongoing issues, the worldwide revenue of gene therapy market will surpass US$ 5 Bn by 2026, exhibiting a stellar growth rate. At-scale investments in the field of gene-related R&D, and increasing number of late-stage gene therapy candidates in oncology and other genetic disorders are likely to oil the growth engine.

For detailed insights on enhancing your product footprint, request for a sample here https://www.factmr.com/connectus/sample?flag=S&rep_id=4648

Competitive Landscape

The global gene therapy market is fiercely competitive, with only a few major players. Companies like Amgen Inc., Bluebird Bio, Gilead Sciences, Inc., Novartis AG, Orchard Therapeutics, Sibiono GeneTech Co. Ltd., Spark Therapeutics (Roche AG), and UniQure N.V.,  have a sizable market share in the Gene Therapy market. To secure a position in the global market, various strategic alliances such as collaborations, acquisitions, and the launch of advanced products have been formed.

  • In October 2021, the National Institutes of Health, the United States Food and Drug Administration, ten pharmaceutical companies, and five non-profit organizations announced a collaboration to accelerate the development of gene therapies for the 30 million Americans who suffer from a rare disease. Such initiatives are expected to boost demand for gene therapy.
  • BioMarin Pharmaceutical Inc. reported updates on its investigational gene therapy programs in clinical development in February 2022. The Food and Drug Administration (FDA) issued additional requests to the Company for information needed to resolve the clinical hold of the PHEARLESS Phase 1/2 study of BMN 307 issued in September 2021.
  • Novartis acquired Gyroscope Therapeutics in December 2021, adding a one-time gene therapy that could transform care for geographic atrophy, a leading cause of blindness.
  • Abecma (idecabtagene vicleucel), a cell-based gene therapy, was approved by the US Food and Drug Administration in March 2021 to treat adult patients with multiple myeloma who have not responded to, or whose disease has returned after, at least four prior lines (different types) of therapy. Abecma is the first FDA-approved cell-based gene therapy for the treatment of multiple myeloma.

Key Takeaways of the Gene Therapy Market:

  • In terms of revenue, Yescarta holds prominence in the gene therapy market, while Luxturna stays ahead in terms of annual growth rate.
  • Over half of gene therapy research studies are focused on the field of oncology, attributable to notable rise in caseloads of various cancer types.
  • The US currently represents the most lucrative opportunities in the gene therapy market; while Europe is expected outpace the region towards the end of forecast period.
  • Fast uptake of regulatory bodies in the US and Europe for approval and commercialization of gene therapy products are likely to propel market growth.

For critical insights on this market, request for methodology here https://www.factmr.com/connectus/sample?flag=RM&rep_id=4648

Gene Therapy Market Segmentation

The Fact.MR study scrutinizes the global gene therapy market on the basis of product, application and key regions.

Product
  • Yescarta
  • Kymriah
  • Luxturna
  • Strimvelis
  • Gendicine
Application
  • Ophthalmology
  • Oncology
  • Adenosine Deaminase?Deficient Severe Combined Immunodeficiency (ADA-SCID)
Region
  • The US
  • Europe
  • Rest of World

For in-depth competitive analysis, buy now – https://www.factmr.com/checkout/4648

Market Players to Establish Proprietary Manufacturing Units

Amidst rising pool of patients suffering from cancer, governments, biopharmaceutical companies, and research institutes are significantly driving their attention towards gene-centric R&D projects. This is setting high hopes for gene therapy market players. However, as a response to increasing costs and delays associated with pulling in third-party contract manufacturers, leading market players are establishing proprietary manufacturing plants.

For instance, Novartis AG has invested US$ 500 Mn to set up its own gene therapy manufacturing facility, following Pfizer Inc. which has allocated US$ 600 Mn for the same. Such a tactic will help manufacturers safeguard proprietary production techniques and deal with concerns issued by regulatory authorities more efficiently.

As third-party contract manufacturers house limited production capacity for upcoming gene therapy methods under development stage, internal manufacturing units in the long run is an imperative for gene therapy market players.

For More Insight https://www.springwise.com/innovation/food-drink/plant-based-fish-made-from-by-products

About Us:

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analysed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

Contact:

US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: sales@factmr.com
Visit Our Website: https://www.factmr.com

Matched content

Editor’s pick

Express Press Release Distribution