As per 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 the year 2020 and is expected to attain a significant valuation by 2026.

Rising investments in gene and cell-based treatments, numerous R&D activities, developments in cancer medication discoveries, and growing public-private collaborations are the significant factors contributing to the expansion of worldwide gene and cell therapy market.

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Along with these, strong economic growth in emerging nations, increasing expenditures on healthcare, and growing pharmaceutical R&D investment in innovations are influencing the market dynamics.

Furthermore, increased cancer and chronic ailments occurrences, a burgeoning elderly population, and a growing emphasis on cell and gene therapeutic interventions are all the key variables that will influence the market in the forthcoming years.

On the downside, inadequate compensations, challenges caused by regulatory changes, insufficient access to healthcare, and a limited range of treatment facilities have all hampered the industry's growth in recent years. Moreover, high therapeutic expenses, restrictive legislation, and financial issues are all potential roadblocks to the market outlook.

As per vector, global gene and cell therapy industry is classified into AAV, retrovirus & gammaretrovirus, lentivirus, and others.

Based on the application spectrum, the industry is segmented into oncology, neurological disorders, cardiovascular disorders, and others. As the report cites, the oncology segment is predicted to grow significantly through 2026, owing to innovative product development by organizations via collaborative relationships and sharing of knowledge and skills with other relevant firms to stay ahead of the increased competition.

Moving on to the competitive panorama, organizations such as AnGes MG, Inc., Voyager Therapeutics, Inc., BlueBird Medical Enterprises LLC, Sarepta Therapeutics, Inc., Alnylam Pharmaceuticals, Inc., Sanofi S.A., Novartis International AG, F. Hoffmann-La Roche AG, Orchard Therapeutics, and Pfizer, Inc. are the leading conglomerates contributing to the substantial growth of global gene and cell therapy (GCT) market.