Middle East And Asia Pacific Cell And Gene Therapy Market Is Estimated To Witness High Growth Owing To Opportunity For Addressing Major Diseases
Cell and gene therapies are advanced therapeutic techniques that involve the modification of cells or genes to treat diseases. They have immense potential in addressing various life-threatening diseases such as cancer, cardiac disorders, neurological disorders, and genetic disorders. Cell therapy involves transplantation, often autologous transplantation, of modified cells into the patient's body to replace or repair damaged cells, while gene therapy involves manipulation of genetic material of cells to fight diseases.
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 Opportunity:
The opportunity for addressing major diseases represents a key growth opportunity in the Middle East and Asia Pacific cell and gene therapy market. Cell and gene therapies have shown promising results in treating several life-threatening diseases for which there are limited treatment options currently available. For instance, CAR T-cell therapy has emerged as a breakthrough in cancer treatment by significantly improving survival rates in blood cancer patients. Similarly, gene therapies have potential for single dose treatment of rare genetic disorders. The ability of cell and gene therapies to potentially cure diseases rather than provide chronic treatment presents a massive market opportunity. The growing research focus on developing these therapies for various cancer types, neurological disorders, cardiovascular diseases and others will help address high unmet needs and drive robust market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate. The cell and gene therapy market requires high R&D investment and regulatory approvals which act as a barrier for new players. However, the increasing market opportunities and growth prospects will attract new players over the forecast period.
Bargaining power of buyers: The bargaining power of buyers is moderate. The presence of many providers and treatments provides options to buyers. However, high treatment costs reduce switching between providers.
Bargaining power of suppliers: The bargaining power of suppliers is high due to the specialized knowledge and capability required for supplying novel treatment technologies, cell/gene culturing and other supplies. This makes suppliers vital to the market.
Threat of new substitutes: The threat of new substitutes is low as cell and gene therapies are highly differentiated with no close substitute. However, alternative treatment options like drugs and medical devices pose a moderate threat.
Competitive rivalry: The competitive rivalry is high due to increasing number of market players, high R&D investments, regional expansions and price-based competition.
SWOT Analysis
Strengths: Growing incidences of cancer and genetic disorders, favorable regulatory environment, advances in cell culturing & gene therapies.
Weaknesses: High treatment costs, need for specialized infrastructure & trained staff, low patient access in developing regions.
Opportunities: Personalized medicines, emerging Asian markets like China & India, new application areas like neurology disorders.
Threats: Supply chain issues, dependency on donors, slow adoption due to new technology.
Key Takeaways
The Global Middle East And Asia Pacific Cell And Gene Therapy Market Demand 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.
The Middle East and Asia Pacific cell and gene therapy market is expected to witness high growth over the forecast period due to growing population, increasing healthcare investments and favorable regulatory scenario. The Asia Pacific region is expected to witness fastest growth owing to increasing research activities and rising healthcare adoption in China and India. The MEA region is also anticipated to emerge as a lucrative market due to increasing government funding for advanced therapies in GCC countries. Furthermore, presence of major market players and rising research focus makes Asia Pacific a frontrunner in cell and gene therapy innovations.
Key players operating in the Middle East and Asia Pacific cell and gene therapy market are 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. Major players are focusing on geographic and application expansions through partnerships with local players. They are also investing in development of novel and personalized therapies to strengthen their market position.
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