Gene Therapy Accounts For A Major Portion Of The Cell And Gene Therapy Market And It Is Expected To Have The Most Growth
Segments covered: By Product – Cell Therapy, Gene Therapy; By Application – Oncology, Dermatology, Musculoskeletal, Others
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According to The Business Research Company’s research report on the cell and gene therapy market, the gene therapy market was the largest segment of the cell and gene therapy market segmented by product, accounting for 72.4% of the total in 2020. Going forward, the gene therapy segment is expected to be the fastest growing segment by product, at a CAGR of 30.8% during 2020-2025.
Thus, the top opportunities in the gene cell therapy industry segmented by-product will arise in the gene therapy segment, which will gain $8.97 billion of global annual sales by 2025. The top opportunities in the cell and gene therapy market segmented by the application will arise in the oncology segment, which will gain $6.73 billion of global annual sales by 2025. The cell and gene therapy market size will gain the most in the USA at $3.36 billion.
Genes are the basic physical and functional unit of heredity, received from one’s parents. Genes act as a code for the creation of all proteins in a living organism. Gene therapy seeks to manipulate a patient’s cells to alter the biological property of cells for the treatment of an inherited or acquired disease. It works by several mechanisms, including replacing a disease-causing gene with a healthy copy of the gene, inactivating an ill-functioning disease-causing gene, or introducing a modified gene into the body to treat diseases. On the other hand, cell therapy seeks to treat diseases by altering certain sets of cells. In the cell therapy market, cells which originate from the patient or a donor are modified outside the body and then injected into the patient. This technique replaces dysfunctional cells with functioning ones.
The Business Research Company’s report titled Cell And Gene Therapy Global Market Report 2020-30: COVID-19 Growth And Change covers major cell and gene therapy companies, cell and gene therapy market share by company, cell and gene therapy manufacturers, cell and gene therapy market size, and cell and gene therapy market forecasts. The report also covers the global cell and gene therapy market and its segments.
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The global cell and gene therapy market reached a value of nearly $4.39 billion in 2020, having increased at a compound annual growth rate (CAGR) of 25.5% since 2015. The market is expected to grow from $4.39 billion in 2020 to $15.48 billion in 2025 at a rate of 28.7%. The market is then expected to grow at a CAGR of 17.3% from 2025 and reach $34.31 billion in 2030.
The global cell and gene therapy market is highly concentrated, with a small number of large players. The top ten competitors in the market made up almost the entire market – up to a 97.46% share of the total market in 2019. Major players in the market include Biogen Inc., Novartis AG, Gilead Sciences, Ionis Pharmaceuticals, Inc., and Alnylam Pharmaceuticals, Inc.
Cell And Gene Therapy Global Market Report 2020-30: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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