According to Fact MR’s recent market research, sales of Gene Therapy to swell at propelled CAGR through 2031, as investment towards expansion of healthcare infrastructure continues rising. The goal of the survey is uncover growth opportunities, key trends, growth drivers, and challenges. It also provides recommendations to assist businesses in preparing for unforeseen challenges.
Focus on improving overall patient care will remain a chief growth driver. Besides this, Gene Therapy market will continue gaining from increasing willingness among patients and families to spend on advanced healthcare.
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Digital Transformation in Healthcare Presenting Opportunities for Gene Therapy Market Growth
Healthcare organizations around the world are deploying digital tools to accommodating changing consumer preferences. They are pressing on solving the long-standing challenge pertaining to care model innovation.
Considering this, the focus on making healthcare affordable and more transparent will increase. Adoption of care model innovation in healthcare will have a profound impact on the Gene Therapy market.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Gene Therapy market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Gene Therapy
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The report offers actionable and valuable market insights of Gene Therapy. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Gene Therapy Market across various industries and regions.
This newly published and insightful report sheds light on Market Insights of Gene Therapy, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Gene Therapy Market.
Market Snapshot
Newly released data from Fact.MR shows that global demand for gene therapy will likely reach US$ 2.3 Bn by the end of 2021. With the advent of synthetic biology, gene therapy is undergoing material shifts in a variety of research areas. Thus, the market for gene therapy is expected to surpass US$ 18.72 Bn by registering a CAGR of 23% across the forecast period 2021-2031. Yescarta-based gene therapy is expected to reign supreme, acquiring a market share worth 45% until 2031.
Key Segments Covered
· Product
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- Yescarta
- Kymriah
- Luxturna
- Strimvelis
- Gendicine
· Application
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- Ophthalmology
- Oncology
- Adenosine Deaminase/Deficient Severe Combined Immunodeficiency (ADA-SCID)
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Competitive Landscape
Gene therapy companies are focusing on investing in factories and launching newer therapies for different diseases. Some notable developments with regards for gene therapy are as follows:
- In July, 2021, BioNTech entered into a collaborative agreement with Gilead Company owned Kite to acquire its neoantigen TCR cell therapy R&D platform and manufacturing facility situated in Gaithesburg. This acquisition will enhance production capacity to support clinical trials in the U.S and complement its already existing cell therapy manufacturing facility in Germany.
- In September 2021, NeuExcel Therapeutics and Spark Therapeutics- a Roche Group company- announced a gene therapy collaboration aimed at developing a safe and effective treatment for patients suffering from Huntington’s disease. In this agreement, the latter will acquire the former’s proprietary neuro-regenerative gene therapy platform and capabilities.
Historically, between 2016 and 2020, the sales of gene therapy market surpassed US$ 2 Bn. The unceasing quest to develop highly effective mRNA vaccines to combat the novel coronavirus pandemic impelled expansion prospects for the industry throughout 2020.
Companies are focusing on investing in research and development that would cure diseases for longer run. In addition, the number of patients being diagnosed with cancer is spurring the demand for gene therapy. Thus, the demand for gene therapy is expected to propel in the forecast period. As of 2021, the market is expected to be valued at US$ 2.3 Bn.
Key Takeaways from the Market Study
- North America expected to hold more than 50% market gene therapy revenue through 2031.
- Europe is expected to possess 40% of market share for gene therapy.
- Yescarta is expected to hold more than 45% of market share in the assessment period.
- Luxturna is experiencing noteworthy growth rate, possessing nearly 35% of market share.
“With the rising frequency of rare genetic disorders, regulatory authorities across various countries are approving clinical trials for developing potential drug candidates, prompting advanced gene therapy research,” says a Fact.MR analyst
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Report Benefits & Key Questions Answered
- Gene Therapy Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Gene Therapy Historical volume analysis: The report provides a comparison of Gene Therapy’s historical sales and projected sales performance for 2021-2031.
- Gene Therapy Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Gene Therapy market. It carefully gauges the impact of changing healthcare needs of key demographics globally
- Gene Therapy Consumption by demographics: The report investigates consumer behavior affecting Gene Therapy demand outlook for the assessment period. Effect of their keenness for digital trends on Gene Therapy market is carefully analyzed
- Post COVID consumer spending on Gene Therapy: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Gene Therapy market growth.
More Valuable Insights on Gene Therapy Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Gene Therapy, Sales and Demand of Gene Therapy, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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