by Market Overview:
Cell and gene therapy offers new treatment approaches for various life-threatening diseases by replacing or repairing defective genes or cells. With growing investments in the R&D of gene editing and cell-based technologies, these therapies hold promise for cancer, genetic disorders, and regenerative medicine in the coming years.
Market Dynamics:
The increasing prevalence of chronic diseases such as cancer and cardiovascular diseases coupled with a rise in healthcare expenditure in the region is expected to boost the cell and gene therapy market between 2021 and 2028. Additionally, favorable government initiatives to support clinical research and the advancement of cell-based manufacturing facilities will also contribute significantly to the market growth over the forecast period.
Market key trends:
The Middle East and Asia Pacific Cell and Gene Therapy Market has been witnessing high growth owing to the increasing prevalence of cancer and other genetic diseases in the region. Cell and gene therapy offers promising alternative treatment options for diseases that were otherwise difficult to treat. Advancements in genetic engineering techniques have enabled the development of more targeted therapies. Also, rising investment by governments and private players in the development of novel therapies has boosted the market growth.
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.
SWOT Analysis
Strengths: An emerging alternative to conventional medicine. High efficacy and precision of cell and gene therapies.
Weaknesses: High costs associated with R&D and production. Challenges with mass production and scaling up.
Opportunities: Rising healthcare expenditure in developing countries. Increasing collaborations for clinical trials and product development.
Threats: Stringent regulatory landscape. Risk of immune rejection and other safety issues. Technology challenges in ensuring product quality and stability.
Key Takeaways
The Middle East and Asia Pacific Cell and Gene Therapy Market size was valued at US$ 2,616.8 million in 2021 and is expected to reach US$ 9,372.4 million by 2028, expanding at a CAGR of 17.3% over the forecast period. The high growth can be attributed to the growing geriatric population, rising awareness about genetic diseases, and increasing healthcare spending in the region.
Regional analysis: The Asia Pacific region dominated the market and is expected to grow at the fastest pace over the next few years due to rapidly developing healthcare infrastructure, supportive regulations, and large patient pool in countries like China, India, and Japan.
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.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
