Faster Drug Approval by Regulatory Bodies is Expanding Value Pool of Gene Therapy Market - Fact.MR

DUBLIN 2, Ireland - June 23, 2020 - PRLog -- The global gene therapy market is all set to showcase upward graph of revenues in the upcoming period on the back of booming healthcare sector. The enterprises included in the healthcare industry are pouring efforts to incorporate advanced technologies for offering superior quality healthcare to all patients from across the world. One of the key techniques gaining popularity today in the sector is gene therapy.

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.

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.

"Cancer types including, DLBCL, and acute lymphoblastic leukemia (ALL) are among the major causes of mortalities across the globe, especially in developed regions. Realizing the immense potential of gene therapy in treating rare diseases, governments are investing in gene therapy treatment centers to increase access to enhanced patient pool", Says an Analyst at Fact.MR.

Some of the key players in the global gene therapy market are Gilead Sciences Inc., Novartis AG, Sibiono GeneTech Co. Ltd., Spark Therapeutics Inc., CELGENE CORPORATION, Spark Therapeutics, Inc., and Orchard Therapeutics Limited.

Read Report- https://www.factmr.com/report/4648/gene-therapy-market