Middle East and Asia Pacific Cell and Gene Therapy Market is Estimated To Witness High Growth Owing To Increasing Prevalence of Cancer and Genetic Disorders

Market Overview:
Cell and gene therapy involves the use of live cells or genes to treat diseases. These therapies help treat a variety of medical conditions like cancer, genetic disorders, cardiovascular diseases etc. by repairing, replacing or modifying cells in the body. The therapies involve introducing genetic material into patient’s cells to replace faulty or missing genes responsible for causing the disease.

Market key trends:
The increasing prevalence of cancer and genetic disorders across the Middle East and Asia Pacific region is driving the demand for cell and gene therapies. As per WHO, cancer burden in the region is expected to increase by over 60% in next two decades. Similarly, incidence of genetic disorders like hemophilia, sickle cell anemia etc. is also growing. Cell and gene therapies offer promise in treating these complex conditions more effectively by addressing the underlying cause of disease. Further, ongoing research and development activities for developing advanced cell and gene therapy products, growing biotech industry and increasing funding from public-private partnerships are some of the major trends fueling the growth of the market in the region over the forecast period.

Porter’s Analysis
Threat of new entrants: The threat of new entrants is low due to the extensive R&D required and high capital investments needed to develop cell and gene therapies.
Bargaining power of buyers: The bargaining power of buyers is moderate as the options available for treatment are limited, however, large healthcare providers can negotiate on pricing.
Bargaining power of suppliers: The bargaining power of suppliers is high due to the dependence of end product on the biomaterials, vectors and other components supplied by them.
Threat of new substitutes: The threat of new substitutes is low as cell and gene therapies offer personalized treatment with fewer side effects compared to other alternatives.
Competitive rivalry: Intense due to the presence of major players.

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

Strength: Cell and gene therapies offer potential cure and long term effects with fewer side effects compared to other treatment options. Strong pipeline and ongoing clinical trials.
Weakness: High costs involved, complex manufacturing processes, and safety concerns related to viral vectors. Regulatory hurdles and resistance from healthcare providers.
Opportunity: Untapped growth potential in emerging markets. Increasing investment in R&D to develop novel therapies.
Threats: Risk of product failure or recalls. Reimbursement challenges and IP issues.

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 other genetic disorders. By therapy type, cell therapy dominated the market in 2021 on account of rising clinical research on cell-based therapeutics.

Regionally, the Asia Pacific region is projected to grow at the fastest rate owing to rising healthcare expenditure, large patient pool and growing focus of market players on expanding presence in emerging economies. Countries like China, South Korea and India are expected to spearhead the demand.

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 focused on expanding their product portfolios and footprint through mergers & acquisitions.

 

Read More: https://www.ukwebwire.com/the-global-charcot-marie-tooth-disease-market-is-estimated-to-high-growth-size-and-share-analysis/

 

Leave a Comment