by Market Overview:
Cell and gene therapy involves modifying cells or transferring genes into cells to treat disease. It helps replace, modify, or regenerate cells that are impaired or lacking due to disease or injury. The products include therapies for cancer, rare genetic disorders, cardiovascular diseases, and neurological disorders. Its use cases include treating conditions like inherited genetic disorders, certain types of cancer, and acquired diseases.
Market Dynamics:
The Middle East and Asia Pacific cell and gene therapy market is driven by the rising adoption of targeted therapies and increasing new product launches. Targeted therapies have revolutionized cancer treatment by precisely targeting specific molecular abnormalities within cancer cells. This helps minimize toxicity and improve survival rates. For instance, Novartis’ KYMRIAH and Gilead’s YESCARTA are two FDA-approved CAR T-cell therapies that have shown tremendous potential in treating certain blood cancers. Moreover, companies are launching new and innovative cell and gene therapy products. Immuneel Therapeutics launched its first cell therapy product in 2021 for solid cancers. Such increasing product launches are fueling market growth.
Segment Analysis
The Middle East and Asia Pacific Cell and Gene Therapy Market is dominated by the oncology segment which accounts for over 40% market share. Cancer is one of the leading causes of death in the region with increasing incidence rates yearly. Cell and gene therapies offer innovative treatment options with promising clinical outcomes for various cancers. This makes oncology the largest application segment in the given market.
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.
PEST Analysis
Political: Regulatory bodies in key markets like China, India, and the Gulf nations have introduced streamlined approval pathways for advanced therapies including cell and gene therapies in recent years to encourage clinical research. This is helping patients gain quicker access to innovative treatments.
Economic: The rapidly growing healthcare spending across Asia Pacific and the Middle East is allowing more penetration of high-cost specialty therapies like cell and gene therapies. Favorable reimbursement policies for orphan drugs in developed countries is also a major driver.
Social: Higher disease awareness, a growing geriatric population prone to chronic diseases, and willingness to pay for the latest treatments are major social factors supporting the growth of this market.
Technological: Continuous advances in gene modification tools, customizable delivery platforms, and process automation are enhancing the scalability and commercial viability of various cell and gene therapy products in clinical development.
Key Takeaways
The Middle East and Asia Pacific Cell and Gene Therapy Market is expected to witness high growth, exhibiting a CAGR of 17.3% over the forecast period, due to increasing disease burden, rising healthcare expenditure, rapidly developing research infrastructure and streamlined regulations. Regionally, Asia Pacific dominates the market and is expected to continue its lead in the upcoming years. The Asia Pacific region accounted for over 60% value share in 2021 driven by the presence of key hubs in China, Japan, South Korea with strong clinical research and supportive reimbursement.
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 key players are focusing on ramping up their manufacturing infrastructure and establishing strategic partnerships with regional clinical research organizations to strengthen their presence.
Regional analysis shows China is expected to register fastest growth owing to strategic alliances between global pharma majors and Chinese bio-manufacturers to enable technology transfer and skills enhancement in this area. Japan represents one of the most important markets due to presence of leading research organizations with active clinical programs in immuno-oncology and regenerative medicines aided by universal healthcare coverage and favorable market access regulations.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
