FREMONT, California, Aug. 6, 2019 /PRNewswire/ -- According to a new market intelligence report by BIS Research titled "Global Cell and Gene Therapy Market- Analysis and Forecast, 2019-2025", the global cell and gene therapy market was valued at $1.07 billion in 2018 and is projected to grow over $8.95 billion by 2025. The global cell and gene therapy market is expected to grow at a double-digit compound annual growth (CAGR) rate of 36.52% during the forecast period 2019-2025. The growth of the market propelled primarily due to the impressive growth of the underlying service market of cell and gene therapy.
Browse 13 Market Data Tables and 147 Figures spread through 243 Pages and in-depth TOC on "Global Cell and Gene Therapy Market"
As per the World Health Organization, the global healthcare expenditure is on a rise to be an exorbitant $8.5 trillion in 2020, owing to an increasing economic burden of chronic diseases, which is estimated to constitute almost 43% of the global economic burden. Thus, the soaring demand for better treatment outcome is leading to an ascending need for preventive, precise healthcare and tailored medication. The growth of the precision medicine market over the last few years (2010-2017) has been colossal and has significantly contributed to giving rise to a number of parallel fields of study and possible healthcare implementations.
Cell and gene therapy are overlapping fields of biomedical research having similar therapeutic goals, which target DNA or RNA inside or outside the body. Both therapies aim at modifying genetic material for treatment of a disease. Gene therapy uses genetic material, or DNA, to manipulate a patient's cells for the treatment of an inherited or acquired disease, while cell therapy is the introduction of new cells into a patient's body to grow, replace or repair damaged tissue to treat a disease. Different types of cells can be used in cell therapy, including stem cells, lymphocytes, dendritic cells and pancreatic islet cells.
According to Nitish Singh, Lead Analyst at BIS Research, "North America is the leading contributor in the global cell and gene therapy market and holds the maximum share of the global market value in 2018. This region is anticipated to grow at a CAGR of 33.81% during the forecast period 2019-2025 and continue dominating the global market in 2025 as well. However, it is the Asia-Pacific region that is expected to witness the maximum growth at an impressive CAGR of 40.34% during the forecast period from 2019-2025."
BIS Research Report: https://bisresearch.com/industry-report/cell-gene-therapy-market.html
- In 2018, Provenge has been acknowledged as the major contributor to the global cell and gene therapy market and is expected to grow at a CAGR of 7.82% during the forecast period 2019-2025.
- Oncology is expected to witness a robust CAGR of 36.87% during the forecast period 2019-2025. However, the cell and gene therapy market for neurology/psychiatry is anticipated to witness the fastest growth during the forecast period 2019-2025.
- Dendreon Pharmaceuticals LLC. is currently the largest shareholder in the cell and gene therapy market. This market dominance is attributed to the company's presence within the market through its expansive product portfolio, led by dedicated gene therapy-based products and services.
This market intelligence report provides a multi-dimensional view of the global cell and gene therapy market in terms of market size and growth potential. This research report aims at answering various aspects of the global cell and gene therapy market with the help of key factors driving the market, restraints that can possibly inhibit the overall growth of the market, and the current growth opportunities that are going to shape the future trajectory of the market expansion.
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Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with the recent market activities, including product launches and approvals, partnerships, collaborations, business expansions, as well as mergers and acquisitions, among others. The research report provides a comprehensive analysis of the product sales, manufacturers, service providers, and trend analysis by segment, and growth share analysis by geographical region. Additionally, the report provides a comprehensive attractive analysis and opportunity analysis for the entire cell and gene therapy market for 2018 and 2025.
This report is a meticulous compilation of research on more than 60 players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 15 leading companies, market participants, and vendors. The report also comprises 17 detailed company profiles including several key players, such as Amgen Inc., Bluebird Bio Inc. Dendreon Pharmaceuticals LLC., Fibrocell Science, Inc., Human Stem Cell Institute, Kite Pharma, Inc., Kolon TissueGene, Inc., Novartis AG, Orchard Therapeutics plc., Organogenesis Holdings Inc., Pfizer, Inc., Spark Therapeutics, Inc., Vericel Corporation, and ViroMed Co., Ltd.
Key Questions Answered in the Report
- What was the revenue generated by the global cell and gene therapy market in 2018 and how is it expected to grow during the forecast period from 2019 to 2025?
- What are the major market drivers, challenges, and opportunities in the global cell and gene therapy market?
- What are the underlying structures resulting in the emerging trends within the global cell and gene therapy market?
- How the product segment, which includes therapeutic market and pipeline analysis of the global cell and gene therapy market, is expected to grow during the forecast period?
- How is the therapeutic class segment including rare diseases, oncology, hematology, cardiovascular, ophthalmology, neurology and other therapeutic classes of the global cell and gene therapy market expected to grow during the forecast period?
- What is the scope of the global cell and gene therapy market in North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World? Which therapeutics application type dominate these regions?
- What are the key developmental strategies being implemented by the major players in order to sustain in the competitive market? What are the key regulatory implications in developed and developing regions for cell and gene therapy?
- Who are the leading players with significant offerings to the global cell and gene therapy market? What is the current market dominance for each of these leading players?
- What is the compound growth rate expected to be witnessed by the leading players in the market during the forecast period 2019-2025?
- Who are the key manufacturers and service providers in the global cell and gene therapy market, and what are their contributions? What is the growth potential of each major cell and gene therapy manufacturer?
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
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