Market Overview:
Cell and gene therapy involves the usage of living cells or genes to treat or prevent diseases. It holds promise for treating a variety of medical conditions like cancer, diabetes, cardiovascular diseases, genetic disorders and neurological disorders. Gene therapies modify genetic material to treat or prevent the disease, while cell therapies use human cells such as stem cells and immunotherapies to treat diseases. The increasing prevalence of life-threatening diseases and limited treatment options have boosted the demand for cell and gene therapies in the Middle East and Asia Pacific region.
Market key trends:
The growing research and development in stem cell and gene therapy is one of the key trends witnessed in the Middle East and Asia Pacific Cell And Gene Therapy Market Share. Manufacturers are increasingly investing in R&D activities related to the development of advanced cell and gene therapies to treat various chronic diseases. For instance, Bone Therapeutics, a biotechnology company based in Belgium is conducting clinical trials for ALLOB stem cell therapy for the treatment of bones and spinal disk disorders in Australia. This is indicative of the growing use of stem cell therapies for orthopedic applications in the Asia Pacific region.
Porter’s Analysis
Threat of new entrants: Low barriers for new entrants as regulations are less stringent as compared to developed markets. However, high R&D costs for cell and gene therapy products act as entry barriers.
Bargaining power of buyers: Relatively low bargaining power of buyers due to specialized nature of cell and gene therapies and limited availability of alternatives. However, price sensitivity is increasing with availability of cheaper biosimilars.
Bargaining power of suppliers: High bargaining power of few suppliers for advanced techniques and raw materials required for cell and gene therapies. Intellectual property also adds to the supplier power.
Threat of new substitutes: Threat of new substitutes is low currently due to lack of established alternatives, however induced pluripotent stem cell therapies pose potential threat in future.
Competitive rivalry: High competitive rivalry due to presence of major international players and biotech startups in the region focusing on innovation.
Key Takeaways
The Middle East and Asia Pacific cell and gene therapy market is expected to witness high growth at a CAGR of 17% over the forecast period, driven by rising incidence of cancer and chronic diseases, increasing healthcare expenditure, and growing regulatory approvals.
Regional analysis: The Middle East region is expected to grow at the fastest pace during the forecast period attributed to rising healthcare infrastructure, healthcare reforms, and increasing awareness. Countries like China, Japan, and South Korea dominate the Asia Pacific market currently due to large patient pools, favorable reimbursements and supportive regulations.
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.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it