Middle East And Asia Pacific Cell And Gene Therapy Market Rising Incidence Of Genetic Disorders & Chronic Diseases Rising R&D Investments And Funding Opportunities
Market Overview:
Cell and gene therapy involves modifying cells or introducing genetic material into cells to treat or prevent disease. This includes replacing defective genes that cause disease, introducing genes to help fight cancer and other diseases, and altering cells to produce therapeutic proteins. Cells from the patient's own body or cells from a donor are genetically engineered and then infused back into the patient.
Market Dynamics:
Rising incidence of genetic disorders and chronic diseases such as cancer, cardiovascular diseases, and neurological disorders is driving the growth of the market. According to WHO, cancer burden in the Middle East and Asia Pacific regions is significant, with over 4.9 million new cancer cases reported in 2020. In addition, increasing R&D investments and government funding for cell and gene therapy research is also fueling the market growth. For instance, the UK Stem Cell Foundation funded over £20 million in 2021 for stem cell research projects.
SWOT Analysis
Strength: The Middle East and Asia Pacific region presents a huge treatment-seeking population and the rise in incidence of cancers and genetic disorders. Advanced technologies and cell manufacturing capabilities. Increased investments from governments and pharmaceutical companies.
Weakness: High costs associated with cell and gene therapies. Stringent regulatory frameworks. Limited healthcare infrastructures and reimbursement programs in developing nations. Scientific and technical challenges in developing off-the-shelf therapies.
Opportunity: Rising medical tourism industries in countries. Growing geriatric population and subsequent increase in target diseases. Significant unmet needs in the treatment of rare and complex conditions. Collaborations between research institutes and industries.
Threats: Safety issues and side effects associated with some therapies. Slow conversion of pipeline candidates into commercialized products. Intense competition amongst existing and new market entrants. Impact of trade barriers and geo-political tensions.
The Middle East and Asia Pacific Cell and Gene Therapy Market Demand is estimated to be valued at US$ 2,616.8 Million in 2023 and is expected to exhibit a CAGR of 17.3% over the forecast period 2021-2028, as highlighted in a new report published by Coherent Market Insights.
Key Takeaways
The Middle East and Asia Pacific Cell and Gene Therapy market is expected to witness high growth, exhibiting CAGR of 17.3% over the forecast period, due to increasing prevalence of cancer and genetic disorders in the region.
Regional analysis: The Middle East and Asia Pacific region dominates the market and is expected to exhibit the fastest CAGR during the forecast period. Countries like China, India, Japan, Singapore hold promising opportunities due to vast patient pools, improving healthcare infrastructure, and increasing research initiatives.
Key players: Key players operating in the Middle East and Asia Pacific Cell and Gene Therapy market are Novartis International AG, Pfizer, Inc., Sanofi S.A., Amgen, Inc., Regeneron Pharmaceuticals, Inc., F. Hoffmann-La Roche AG, Bluebird Bio, Inc. (Celgene Corporation), Gene biotherapeutics, Sibiono GeneTech Co. Ltd., Kolon TissueGene, Inc., Horama S.A., MeiraGTx Limited, Gilead Sciences, Inc., Biogen INC., Organogenesis, Inc., JCR Pharmaceuticals Co. Ltd, uniQure N.V., WuxiAppTec, Lonza, and Immuneel Therapeutics Pvt Ltd. These players are focusing on expanding their presence in high growth regions through collaborations and acquisitions.
Read More: https://blogger-veritas.blogspot.com/2023/11/future-prospects-of-middle-east-and.html
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