As cited by the 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 was remunerated at USD 2504.2 million in 2020 and is estimated to expand significantly over 2021-2026.
 

Growing investments in healthcare sector, expanding research & development activities, rising number of public-private partnerships, rapid advancements in cancer drug discovery, and economic growth in emerging markets are the major factors driving global gene and cell therapy market growth.
 

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In addition, growing geriatric population, rising prevalence of cancer & chronic diseases, and increasing focus on using cell and gene therapy are also favoring the industry dynamics.
 

On the downside, high costs of such therapies, lack of reimbursements, challenges due to regulatory changes, low healthcare access, and lesser number of treatment centers are likely to act as bottlenecks for the market progression over the projected timeline.
 

On the basis of vector, global gene and cell therapy industry is segmented into AAV, lentivirus, retrovirus & gamma retrovirus and others.
 

Considering the application range, the marketplace is divided into oncology, cardiovascular disorders, neurological disorders, and others. As cited in the report, the oncology segment is anticipated to expand significantly over the estimated timeline, owing to strategic collaborations and product innovations. Companies and organizations are entering strategic partnerships to share skills and expertise to develop innovative products, thereby augmenting the segmental growth.
 

On the geographical front, the industry is categorized into North America, Asia Pacific, Europe, and Latin America. While the country level analysis includes, Canada, United States, Germany, France, U.K, Italy, Japan, India, China, and South Korea.
 

Major players swaying the global gene and cell therapy industry trends are AnGes MG Inc., Orchard Therapeutics plc, Voyager Therapeutics Inc., Sarepta Therapeutics Inc., BlueBird Inc., Pfizer Inc., Alnylam Pharmaceuticals Inc., Sanofi S.A., Novartis International AG, and F. Hoffmann-La Roche AG.