The global cell and gene therapy market is growing at a CAGR of over 24% during the forecast period 2018-2024 – PRNewswire

NEW YORK, Nov. 18, 2019 /PRNewswire/ --

The global cell and gene therapy market is growing at a CAGR of over 24% during the forecast period 20182024.

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The major drivers contributing to the growth of the global cell and gene therapy market are the growing incidence of several chronic and terminal diseases, including cancer, the launch of new products, the increasing availability in clinical evidences of these products in terms of safety and efficacy, the rapid adoption of CAR T-cell therapy, favorable regulatory support in the development of these treatment, and improved manufacturing expertise in these products.

The following factors are likely to contribute to the growth of the cell and gene therapy market during the forecast period: Increased Pool of Patient Population with Several Ailments Favorable Regulatory Support and Increasing Special Designations for Cell and Gene Therapy Products Growing Demand for CAR T-cell Therapy Products Increasing Strategic Acquisition Activities

The study considers the present scenario of the cell and gene therapy market and its market dynamics for the period 2018?2024. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply aspects of the market. The report profiles and examines leading companies and other prominent companies operating in the market.

Cell and Gene Therapy Market: Segmentation

This research report includes detailed market segmentation by product, application, end-user, and geography. The global cell therapy market is growing at a steady rate, and this trend is expected to continue during the forecast period due to the increased patient base with a wide range of diseases/ailments. The segment is likely to witness upward growth on account of expanded expertise in the manufacturing of stem cell-based products.

The gene therapy segment is expected to witness faster growth as the penetration of these products is increasing at a significant rate, especially in developed economies. The market is expected to grow during the forecast period due to the increased patient base for the existing gene remedy products, expected the launch of other gene therapy-based products for several indications, and expanded indication approvals for existing commercially available products.

The oncology segment accounts for the highest share of the global market. The growth of the oncology segment is increasing at a fast rate on account of the growing prevalence of several types of cancers. Currently, the available products not only modify the disease but also improve the quality of the patient's life, thereby decreasing the mortality rate. The market in the dermatology segment is increasing at a steady rate. This segment owns its growth to the increasing incidence and prevalence rate of several types of wounds, which are difficult to treat under normal conditions and the launch of innovative products. The dermatology segment is likely to showcase growth due to the high product availability of wound care products in the market.Hospitals are the leading end-user segment. The segment is growing mainly due to the increasing incidence/prevalence of chronic diseases such as cancer, cardiovascular diseases, diabetes, and chronic wound on account of diabetes feet, pressure ulcers, and other injuries.

Market Segmentation by Products Cell Therapy Gene TherapyMarket Segmentation by Distribution Channel Type Oncology Dermatology Musculoskeletal OthersMarket Segmentation by End-users Hospitals Wound Care Centers Cancer Care Centers Ambulatory Surgical Centers Others

Geographical Insights

The US market dominates the cell and gene therapy market in North America due to the high prevalence of chronic diseases and other conditions, which require these treatment methods. There is also comparably high utilization and wide accessibility of these therapies. The oncology segment is likely to witness significant growth in North America.The market in Europe is expected to witness upward growth in the near future on account of the growing prevalence of chronic diseases and rising elderly population. In Europe, cell and gene therapy products are considered to be part of the Advanced Therapy Medicinal Products (ATMPs), which are commonly known as regenerative medicine globally.

Market Segmentation by Geography North Americao USo Canada APACo Japano Chinao South Koreao Australia Europeo Germanyo Franceo UKo Spaino Italy Latin Americao Brazilo Mexico MEAo Turkeyo Saudi Arabiao UAE

Key Vendor AnalysisThe global market is characterized by the presence of a few global, large-scale companies and several small to medium-scale companies offering one or two cell and gene therapy products. Global players are majorly offering innovative products with the potential of disease-modifying characteristics that are generating significant revenues, especially in Europe and US regions. Most innovative and breakthrough products are approved in the European countries and the US. Vendors are targeting mostly developed economies such as the US, Germany, France, the UK, Spain, and Japan as the uptake of these products is higher in these countries than low and middle-income countries. However, the market in these regions is at the nascent stage.

Key Vendors Gilead Sciences Spark Therapeutics Novartis AG Organogenesis Amgen Osiris Therapeutics Dendreon Vericel

Other Prominent Vendors Anterogen Tego Sciences Japan Tissue Engineering JCR Pharmaceuticals Medipost MolMed AVITA Medical CollPlant Corestem Biosolution Stempeutics Research Orchard Therapeutics Takeda Pharmaceutical Company CHIESI Farmaceutici CO.DON AnGes GC Pharma JW CreaGene APAC Biotech Nipro Corp. Terumo Orthocell bluebird bio

Key Market InsightsThe report provides the following insights into the market for the forecast period 20192024. Offers sizing and growth prospects of the market for the forecast period 20192024. Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market. Includes a detailed analysis of growth drivers, challenges, and investment opportunities. Delivers a complete overview of segments and the regional outlook of the market. Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain a competitive advantage.

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