According to MarkNtel Advisors’ research report, the Global Cell & Gene Therapy Drug Delivery Devices Market is projected to witness around 14% CAGR during 2022-28. The market growth attributes primarily to the rapidly accelerating geriatric population, the increasing prevalence of cancer & chronic disorders, and the surging number of FDA approvals for cell & gene therapies & clinical trials. These therapies not just completely cure chronic conditions but also improve the life quality of patients.
This rapidly increasing geriatric population is significantly infusing the need to widen the understanding of the causes behind the numerous genetic & chronic diseases. In turn, it is resulting in the development of modern approaches for their treatment & prevention, further states the research report, "Global Cell & Gene Therapy Drug Delivery Devices Market Analysis, 2022."
Luxturna Grabbed the Largest Share of the Global Cell & Gene Therapy Drug Delivery Devices Market in 2021
Luxturna (voretigene neparvovec-rzyl) is the first directly administered gene therapy approved in the US that targets a disease caused by mutations in a specific gene. It works by delivering a copy of the RPE65 gene directly to retinal cells, which produce the normal protein that converts light to an electrical signal in the retina to restore the patient’s vision. It uses a naturally occurring adeno-associated virus (which has been modified using recombinant DNA techniques) as a medium to deliver the normal human RPE65 gene to the retinal cells to restore vision.
Its booming demand is primarily due to its capabilities to treat children & adult patients with confirmed biallelic RPE65 mutation-associated retinal dystrophy that causes vision loss and might result in complete blindness in certain patients.
North America to Continue Dominating the Global Market Through 2028
In recent years, North America attained more than 50% revenue share of the Global Cell & Gene Therapy Drug Delivery Devices Market, and the same trend is likely to be followed during 2022-28. It owes principally to the increasing focus of conglomerates on collaborating with small & medium enterprises and other distributing channels to develop modern & cost-effective drug delivery devices, intending to expand their global reach and boost the regional market. Moreover, the mounting need to have enhanced treatments for numerous cell & gene diseases through substantial research & diagnostics is another crucial aspect driving the regional market through 2028.
Key Market Competitors
According to MarkNtel Advisors, the leading players in the Global Cell & Gene Therapy Drug Delivery Devices Market are Amgen Inc., Bausch & Lomb Incorporated, Becton, Dickinson and Company, Bluebird bio Inc., Castle Creek Biosciences, Inc. (Fibrocell Science, Inc.), Dendreon Pharmaceuticals LLC, Helixmith Co. Ltd (ViroMed Co., Ltd), Human Stem Cells Institute, Kite Pharma Inc., Kolon TissueGene, Inc., Novartis AG, Orchard Therapeutics plc., Pfizer Inc., Renova Therapeutics, Spark Therapeutics Inc., uniQure N.V., and Vericel Corporation.
Key Questions Answered in the Study