In Gene and Cell Therapies Targeting CNS Disorders Market is Estimated to Witness High Growth Owing
Author : Purvaja Jadhao | Published On : 17 Jan 2024
Gene and cell therapy targeting CNS disorders involve genetic modification and cell transplantation to treat a variety of neurological conditions like Alzheimer's disease, Parkinson's disease, stroke, multiple sclerosis, and spinal cord injuries. Gene and cell therapies offer a potential long-term cure by addressing the underlying causes of these disorders. Moreover, these therapies reduce the need for lifelong drug regimens. Extensive research is ongoing to develop safe and effective gene and cell therapies for CNS disorders.
The global Gene and Cell Therapies Targeting CNS Disorders Market is estimated to be valued at US$ 1,500 million in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Expanding research activities in cell therapy represent a major growth opportunity for the Gene and Cell Therapies Targeting CNS Disorders Market. Several clinical trials are currently underway to study the potential of cell-based therapies for various CNS disorders. For instance, Nuron Biotech has initiated a phase I/II clinical trial to evaluate the safety and efficacy of NRTX-1001, a neuronal cell therapy for ALS patients. Similarly, Steminent is conducting clinical trials of STMN1 cell therapy for ischemic stroke. The success of these ongoing trials would provide strong validation of cell therapy approach and accelerate its adoption in clinical practice. This in turn would drive significant market revenue growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low in this market due to high capital requirements for R&D, manufacturing infrastructure, compliance requirements, and need to attain clinical approval for new therapies.
Bargaining power of buyers: The bargaining power of buyers is moderate as the target patient segment has limited treatment alternatives for CNS disorders. However, the presence of substitutes and bargaining by large healthcare providers keeps prices in check.
Bargaining power of suppliers: The bargaining power of suppliers is moderate given the specialized nature of raw materials and services required in gene and cell therapies for CNS disorders. Suppliers have some control over pricing but manufacturers can tap alternative suppliers to avoid complete dependence.
Threat of new substitutes: The threat of new substitutes is moderate as many drug candidates are in clinical trials. Successful development of novel alternative treatment options can challenge existing gene and cell therapies.
Competitive rivalry: Competition in the gene and cell therapies market for CNS disorders is high owing to the presence of global pharmaceutical companies and recent FDA approvals that have intensified the race to capture market share.
SWOT Analysis
Strengths: Availability of sophisticated research infrastructure, advancements in genetic engineering and cell biology techniques, collaborative research models help accelerate development.
Weaknesses: High costs of development, manufacturing challenges, limited clinical evidence, restricted patient access pose drawbacks. Safety concerns and heterogeneity of disorders pose complexity.
Opportunities: Large patient population, unmet needs, influx of funding and partnerships offer scope for further innovation and commercialization.
Threats: Stringent regulations, reimbursement issues, clinical failures, manufacturing bottlenecks can impede progress and adoption of new therapies. Insufficient awareness among patients restrains demand.
Key Takeaways
The Global Gene And Cell Therapies Targeting CNS Disorders Market is expected to witness high growth over the forecast period of 2023 to 2030. The global Gene and Cell Therapies Targeting CNS Disorders Market is estimated to be valued at US$ 2.6 billion in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030.
The United States dominates currently due to abundant funding availability, presence of major pharma companies and research centers, and favorable regulatory framework. Europe holds the second largest position and is anticipated to grow at a significant rate supported by public-private initiatives. North America is projected to maintain its dominance during the forecast period. Asia Pacific is estimated to grow at the fastest pace due to improving research infrastructure, increasing healthcare investments, and growing patient population.
Key players: Key players operating in the Gene and Cell Therapies Targeting CNS Disorders market are Biogen, Novartis, Gilead Sciences, GlaxoSmithKline, Janssen Pharmaceuticals, Spark Therapeutics, BlueRock Therapeutics and UCB.
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