Market Overview:
Cell and gene therapy involves modifying or manipulating genes or cells to treat and cure diseases. These therapies repair or replace genetic disorders and help combat various diseases like cancer, cystic fibrosis, heart diseases etc. They are seeing increasing applications due to their advantages of being highly targeted and personalized treatment options compared to conventional drugs.
Market key trends:
One of the key trends driving the Middle East And Asia Pacific Cell And Gene Therapy Market is the increasing prevalence of cancer and other genetic disorders. As per the WHO, cancer burden is significantly high in the Asia Pacific region accounting for nearly 60% of the total cancer cases reported globally. Cell and gene therapies provide highly effective treatment options for various cancers by boosting the patient’s immune system and genetically modifying their cells. This is contributing hugely to the growth of the market in the region.
Segment Analysis
The Middle East and Asia Pacific Cell And Gene Therapy Market Share is segmented into disease indications and technology. Based on disease indication, the market is classified into cancer, neurological disorders, cardiovascular diseases (CVDs), orthopedic diseases, infection diseases and others. Among these, cancer dominated the market in 2022 and is expected to witness a high growth rate over the forecast period owing to increasing prevalence of various cancers and rising availability of cell and gene therapies for cancer treatment.
Based on technology, the market is bifurcated into ex vivo cell therapy, in vivo gene therapy and others. The ex vivo cell therapy segment dominated the market in 2022 owing to increasing availability of CAR T-cell therapies for cancer treatment.
Key Takeaways
The Middle East and Asia Pacific cell and gene therapy market size was valued at USD 3600.53 Mn in 2023 and is expected to witness a CAGR of 17% over the forecast period due to increasing prevalence of chronic diseases, rising R&D investments in cell and gene therapy development, and growing government support for cell and gene therapy development and commercialization.
Regional analysis: By region, Asia Pacific dominated the market in 2023 and is expected to grow at the fastest rate over the forecast period. This is attributed to growing elderly population, rising healthcare expenditure, increasing burden of chronic diseases, and government initiatives to support healthcare infrastructure development in the region.
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 focussing on new product launches, acquisitions, and collaborations to increase their market share in this high growth market.
Read More:
https://perfectinsights.blogspot.com/2023/11/middle-east-and-asia-pacific-cell-and.html
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