Cell and Gene Therapy Market Size and Share Is Expected to Reach US$ 35.4 Billion and to Register a CAGR of 21.9% By 2026 | Coherent Market Insights
Global Cell and Gene Therapy Market
Cell and gene therapy aids in gene regulation, cell-cell interactions, regenerative capacity, and remodeling, thereby playing a major role in modern healthcare.
The global cell and gene therapy market size was valued at US$ 6,020.0 million in 2017 and is expected to exhibit a CAGR of 21.9% over the forecast period (2018 – 2026).
Get FREE Sample PDF Including COVID-19 Impact Analysis: https://www.coherentmarketinsights.com/insight/request-sample/2475
Figure 1. Global Cell and Gene Therapy Market Value (US$ Mn), by Region, 2017
Source: Coherent Market Insights Analysis (2018)
Increasing prevalence of cardiovascular diseases and cancer is expected to boost growth of cell and gene therapy market
Gene therapy is used to modify the course of various genetic and acquired disorders at the genetic level. Cell therapy restores a certain cell population or uses cells as therapeutic carriers in the treatment of several diseases. Increasing prevalence of cardiovascular diseases is expected to boost growth of the cell and gene therapy market. For instance, according to the World Health Organization (WHO), May 2017, around 17.9 million deaths were recorded due to cardiovascular diseases in 2016 worldwide, accounting for 31% of all deaths. According to the same source, in 2012, cancer was the second leading cause of morbidity and mortality worldwide, 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.
Major regulatory bodies are focused on introducing effective guidelines related to cell and gene therapy, which is expected to boost growth of the 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.
Tailored Information as per niche requirement:
LIMITED TIME OFFER – Hurry Up!
Get Discount For Buyers UPTO 30% OFF On Any Research Report
Apply Promo Code “CHRISTMAS2020” And Get Instant Discount Of USD 1000
Buy Now This Premium Report to Grow your Business @ https://www.coherentmarketinsights.com/insight/buy-now/2475
However, R&D in cell and gene therapy is associated with several challenges such as safety and efficacy issues, lengthy procedures for conducting clinical studies, stringent regulatory framework, and high costs, which are expected to restrict growth of the global cell and gene therapy market.
Figure 2. Global Cell and Gene Therapy Market Share (%), by Therapy Type,2018 and 2026
Source: Coherent Market Insights Analysis (2018)
The market growth in North America is driven by increasing prevalence of neurological disorders
Increasing prevalence of genetic disorders is a major factor boosting growth of the market in North America. For instance, according to the U.S. Pharmacist Journal, January 2018, annually, around 1.2 million adults are diagnosed with early symptoms of brain disorders, of which 21% are due to Alzheimer’s disease and the total number of new cases of Parkinson’s disease and traumatic brain injuries is around 135 million in U.S.
Major institutes in the region are focused on R&D in cell and gene therapy, which is also expected to boost growth of the market. For instance, according to the Catalyst report, in December 2018, around 289 novel cell and gene therapies were in development for a variety of diseases, of which around 111 medicines were for cancer and around 28 medicines were for cardiovascular disease. These medicines in development are either in clinical trials or awaiting for approval from the U.S. Food and Drug Administration (FDA).
Major 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.About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.
To know more about us, please visit our website – www.coherentmarketinsights.com
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
- CDN Newswire