Facts and Factors Market Researchhas published a new report titled Cell and Gene Therapy Consumables Market By Product Type (Kits & Buffers, Diagnostic Assay, Culture Medium, and Cryopreservation Media) and By Application/ Therapeutics (Cardiovascular, Urology, Dermatology, Critical Care, Respiratory, Endocrine & Metabolic, Neuroscience, Hematology & Oncology, Obstetrics, Immunology, and Gastroenterology): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 2027.
According to the report, the globalcell and gene therapy consumables marketis predicted to be valued at approximately USD 641 million in 2018 and is expected to reach a value of around USD 6,999 million by 2027, at a CAGR of around 30.43 % between 2019 and 2027.
Cells are the key building blocks of all living things, while genes are located deep inside the cells. Genes are tiny parts of DNA that carry heritable information and directions for producing proteins that help in building and maintaining the body. Cell and gene therapies are the overlapping domains of biomedical research activities as well as biomedical treatment. The key objective of both these therapies is to treat, prevent, and cure ailments. Moreover, both these approaches have the prospective to lessen the core causes of genetic disorders as well as acquired diseases. However, the functioning of cell and gene treatment varies.
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Furthermore, the main aim of cell treatment is to treat disorders through restoration or alteration of certain sets of cells or through the use of the cells to carry therapy throughout the body. In cell treatment, cells are cultured or altered out of the body before injecting them into the body of the patient. The cells can be acquired from the patient in the form of autologous cells or from a donor in the form of allogeneic cells.
Apparently, the key objective of gene therapy is to treat diseases through the replacement, inactivation, or introduction of genes into cells i.e. either inside the body or outside of the body. Moreover, few of the treatments are considered as both cell and gene treatments. They work by shifting genes in particular types of cells and then injecting them back into the body.
Rising occurrence of target ailments to drive the market trends
The growth of the market during the forecast period is due to the high rate of incidences of chronic ailments including cancer and heart disorders. Apart from this, a rise in the occurrence of these disorders produces lucrative demand for enhanced therapies and this will culminate in the market demand over the forecast period.
Furthermore, a rise in the awareness about the gene & cell therapies will steer the market growth during the period from 2019 to 2027. Nonetheless, conducting randomized control tests will inhibit the expansion of the market during the forecast timeline. However, the growing trend for treating neurodegenerative ailments through the use of gene treatment will proliferate the market growth over the forecast period.
Kits & Buffers segment to dominate the product type landscape in terms of revenue
The growth of the segment during the forecast timespan is due to high demand for the kits & buffers across hospitals & clinics during the cell & gene treatments.
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Cardiovascular application to accrue massive gains in terms of revenue by 2027
The growth of the segment is due to the high occurrence of heart diseases caused due to the result of inherited disorders like high blood pressure and diabetes.
North America to dominate the regional market growth in terms of value
The growth of the market in the region is due to the major presence of giant players along with the high awareness about these cell & gene treatments. The U.S. is likely to be the major revenue contributor of the region during the forecast timeline.
Some of the key players in the market include Amgen Inc., ATLANTA BIOLOGICALS, bluebird bio, Inc., Cook, Dendreon Pharmaceuticals, LLC, Fibrocell Science, Inc., General Electric, Kolon TissueGene, Inc., Orchard Therapeutics plc., Pfizer, Inc., PromoCell GmbH, RENOVA THERAPEUTICS, Sibiono GeneTech Co. Ltd., Spark Therapeutics, Inc., Vericel, Helixmith Co., Ltd., and Vitrolife.
This report segments the Cell and Gene Therapy Consumables market as follows:
Cell and Gene Therapy ConsumablesMarket:By Product TypeSegment Analysis
Cell and Gene Therapy ConsumablesMarket: ByApplication/ TherapeuticsSegment Analysis
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Cell and Gene Therapy Consumables Market: Regional Segment Analysis
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