by The Middle East and Asia Pacific cell and gene therapy market encompasses advanced therapies for treating various genetic and acquired diseases, including cancer, cardiovascular diseases, neurological disorders, and others. Cell and gene therapies offer potential cures by addressing the underlying cause of diseases through safe and precise genetic modifications, cell replacements, or correction of defective genes. Cell therapies include stem cell therapies, immune cell therapies, and others, while gene therapies include gene replacement, gene correction, and silencing faulty genes. The regional market has witnessed significant growth due to rising prevalence of life-threatening conditions, increasing adoption of advanced treatment options, favorable reimbursement scenarios, and establishment of manufacturing facilities by key players.
The global Middle East And Asia Pacific Cell And Gene Therapy Market is estimated to be valued at Us$ 3600.53 Mn in 2023 and is expected to exhibit a CAGR Of 15.% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growth of the Middle East and Asia Pacific cell and gene therapy market is majorly driven by a conducive regulatory environment established across various countries. Regulatory authorities such as China FDA, Japanese Pharmaceuticals and Medical Devices Agency (PMDA), and South Korean Ministry of Food and Drug Safety (MFDS) have rolled out streamlined approval pathways and guidelines pertaining to clinical trials and commercialization of advanced therapies. For instance, China FDA has granted priority review status to cell and gene therapy developers, accelerating the review timeframe. This driver, coupled with rising prevalence of genetic and chronic disorders, is expected to boost adoption of cell and gene therapies during the forecast period.
Segment Analysis
The Middle East and Asia Pacific cell and gene therapy market is dominated by the oncology segment which holds around 45% of the total market share. Cell and gene therapy products are being widely used for treating cancer related indications such as leukemia, lymphoma, melanoma, breast cancer and others. The oncology segment is dominating owing to the high prevalence of cancer across the region and increasing adoption of advanced treatment options like CAR T-cell therapy and gene therapy vaccines for cancer.
PEST Analysis
Political: Governments across the region are coming up with supportive regulations to encourage cell and gene therapy research. There are also initiatives to streamline the approval process for novel therapies.
Economic: The economies of countries in the region have grown significantly in recent years boosting healthcare infrastructure and spending. This is fostering investments in advanced treatment research areas including cell and gene therapy.
Social: Rising health awareness and willingness to pay for innovative treatment options is promoting the adoption of cell and gene therapy products especially for critical illnesses.
Technological: Research institutions and companies are investing heavily in R&D to develop more effective and affordable cell and gene therapy processes and products. This is helping in clinical translation.
Key Takeaways
The Global Middle East And Asia Pacific Cell And Gene Therapy Market Demand is expected to witness high growth at a CAGR of 15% during the forecast period of 2023 to 2030. The region’s market size for 2023 is estimated to be US$ 3600.53 million.
Regional analysis:
China is expected to dominate the region accounting for over 30% market share supported by strong government funding for biotechnology sector and presence of key market players. Other high potential markets include India, Japan, South Korea and countries in Southeast Asia.
Key players:
Codexis Inc., Abzena, Ltd., Enantis s.r.o, GenScript Biotech Corp., Waters Corporation, PerkinElmer, Inc., Bruker Corporation, Agilent Technologies, Bio-Rad Laboratories Inc., and Thermo Fisher Scientific Inc., among others are some of the prominent players operating in the Middle East and Asia Pacific cell and gene therapy market. Codexis is a leading player in enzymes for next-gen sequencing and cell and gene therapy manufacturing. GenScript is a major contract development and manufacturing organization for cell and gene therapies.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
