According to research report titled ‘Global Gene and Cell Therapy (GCT) Market - Analysis By Vector, Application, By Region, By Country (2021 Edition): Market Insights, Pipeline, Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global gene and cell therapy (GCT) market, valued USD 2504.2 million in 2020, is anticipated to grow at a robust rate over the forecast period 2021-2026.
 

Increased investments in cell and gene therapies, escalating healthcare expenditure, advances in cancer drug discovery, strong economic growth in emerging countries, rising pharmaceutical R&D expenditure, and public-private partnerships are driving global gene and cell therapy (GCT) market growth.
 

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Besides, rising incidences of cancer and chronic diseases, expanding elderly demographic are slated to boost industry growth in coming years, claims the study.However, the market expansion is constrained by insufficient reimbursements, challenges emerging from regulatory changes, and limited healthcare access in certain geographies. Further, high costs of therapy, and disruptions caused by the coronavirus pandemic are restricting industry expansion.
 

Apart from this, this business sphere is studied from the perspective of vector (lentivirus, retrovirus & gammaretrovirus, AAV, and others), and application (oncology, cardiovascular diseases, neurological disorders, and others).
 

Proceeding further, the report incorporates a comprehensive analysis of the market by region (North America, Europe, Asia Pacific, LAMEA) and by country (United States, Canada, Germany, U.K, France, Italy, China, Japan, India, and South Korea), followed by a complete assessment of competitive landscape. 
 

Major companies influencing global gene and cell therapy (GCT) industry trends are F. Hoffman-La Roche Ltd., Voyager Therapeutics Inc., Novartis International AG, Sanofi S.A, Alnylam Pharmaceuticals Inc., Pfizer Inc., AnGes Inc., BlueBird Inc., Orchard Therapeutics PLC, and Sarepta Therapeutics.
 

To remain ahead of the competition, companies are developing their products through strategic collaborations. They are developing innovative products as well as exchanging talents and technical prowess with other such firms.
 

Oncology drug companies have long collaborated with each other as well as with academic and research institutions through partnerships, in or out-licensing agreements, and this trend has been growing over the recent years.