U.K. Cell and Gene Therapy Research Challenges Market to Surpass US$ 2525 Million by 2028
U.K. Cell and Gene Therapy Research Challenges Market, by Therapy Type (Cell Therapy (Stem Cells, T Cells, Dendritic Cells, and NK Cells) and Gene Therapy (Germline Gene Therapy and Somatic Gene Therapy)), and by Indication (Dermatology, Musculoskeletal, Oncology, Immunology, Cardiology & Neurology, and Others), is estimated to be valued at US$ 848 million in 2021 and is expected to exhibit a CAGR of 23.6% over the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
Key players operating in the market are focusing on receiving product approvals from regulatory authorities and this is expected to drive the market growth over the forecast period.
For instance, in October 2021, Novartis AG, a global healthcare company, received priority review by the U.S. Food and Drug Administration (FDA) and Supplemental Biologics License Application (sBLA) and Type II Variation acceptance by European Medicines Agency (EMA) for ‘Kymriah’ for the treatment of patients with refractory or relapsed follicular lymphoma.
U.K. Cell and Gene Therapy Research Challenges Market – Impact of Coronavirus (COVID-19) Pandemic
COVID-19 outbreak was first reported on December 31, 2019, in Wuhan, China. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 260,867,011 confirmed cases and 5,200,267 deaths due to Coronavirus (COVID-19) were reported up till November 29, 2021, across the globe.
The COVID-19 pandemic has negatively affected several markets across the globe including the UK cell and gene therapy market. The market is hampered due to disruptions in supply chain as well as manufacturing and logistics processes.
COVID-19 outbreak raised challenges in market authorization, price and reimbursement of cell and gene therapy. On the flip side, digitalization, innovative payment mechanisms, value-based pricing, telemedicine, and manufacturing resilience will be utilized to make sure that UK cell and gene therapy market access is not disrupted severely.
Browse 12 Market Data Tables and 18 Figures spread through 140 Pages and in-depth TOC on “Cell and Gene Therapy Research Challenges Market”- U.K. Forecast to 2028, U.K. Cell and Gene Therapy Research Challenges Market, by Therapy Type (Cell Therapy (Stem Cells, T Cells, Dendritic Cells, and NK Cells) and Gene Therapy (Germline Gene Therapy and Somatic Gene Therapy)), and by Indication (Dermatology, Musculoskeletal, Oncology, Immunology, Cardiology & Neurology, and Others)
To know the latest trends and insights prevalent in the U.K Cell and Gene Therapy Research Challenges Market for Hospitals & Ambulatory Settings, click the link below:
Key players operating in the market are focusing on adoption of inorganic growth strategies such as mergers, collaborations, partnerships, and acquisitions, in order to strengthen their position in the U.K. market. For instance, in April 2020, Novartis AG, a Switzerland based global pharmaceutical company, entered into partnership agreement with TScan Therapeutics, a biopharmaceutical company, to develop T-cell receptor therapies for the treatment of solid tumors.
Key Takeaways of the U.K Cell and Gene Therapy Research Challenges Market:
- The U.K. cell and gene therapy research challenges market is expected to exhibit a CAGR of 23.6% over the forecast period, owing to receiving grants by regulatory authorities. For instance, In June 2020, Kite Pharma, Inc., a Gilead Company received U.S. Food and Drug Administration (FDA) approval for ‘Tecartus’ to treat adult patients with refractory or relapsed mantle cell lymphoma (MCL). Tecartus is the first and only approved chimeric antigen receptor (CAR) T cell therapy.
- Among therapy type, cell therapy segment is expected to account for largest market share during the forecast period, owing to rise in adoption of inorganic strategies such as mergers, collaborations, partnerships, and acquisitions. For instance, in January 2018, Kite Pharma, Inc., a Gilead company, entered into a clinical trial collaboration with Pfizer, Inc., a biopharmaceutical company. An aim of this partnership is to evaluate investigational combination of Yescarta and Utomilumab of Pfizer in Large B-Cell Lymphoma.
- Key players operating in the U.K. cell and gene therapy research challenges market include Novartis International AG, Pfizer, Inc., Sanofi S.A., Amgen, Inc., PTC Therapeutics, Inc., Orchard Therapeutics Plc., Biomarin Pharmaceutical Inc., Regeneron, Bluebird Bio, Inc. (Celgene Corporation), Freeline Therapeutics Ltd, MeiraGTx Limited, Kolon TissueGene, Inc., Kite Pharma, Inc. (Gilead Sciences, Inc.), Biogen Inc., and Bristol-Myers Squibb Company
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