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.
For detailed insights on enhancing your product footprint, request for a sample here https://www.factmr.com/connectus/sample?flag=S&rep_id=4648
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.
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.
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 comprehensive insights on this market adoption, ask an analyst here https://www.factmr.com/connectus/sample?flag=AE&rep_id=4648
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.
Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2019/03/05/1748160/0/en/Low-Cost-Relative-Safety-Minimal-Recovery-Time-Driving-Lithotripsy-Device-Sales-Finds-Fact-MR.html
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 analyzed. 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.
US Sales Office:
11140 Rockville Pike
Rockville, MD 20852
Tel: +1 (628) 251-1583
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: [email protected]
Visit Our Website: https://www.factmr.com