February 29, 2024
Middle East And Asia Pacific Cell And Gene Therapy Market

Middle East And Asia Pacific Cell And Gene Therapy Market Witnesses Trends In Adoption Of Advanced Therapeutics

The Middle East and Asia Pacific cell and gene therapy market involves developing therapies that repair or replace defective genes or cells that cause disease. The therapies include replacing damaged/malfunctioning cells with healthy cells or repairing faulty genes to cure genetic disorders. Cell therapy involves transplantation of living cells into patients to repair damaged tissues and treat diseases like cancer, neurological disorders. Gene therapy involves manipulating genes to fight or cure diseases. The market has seen growth due to rising prevalence of cancers and genetic disorders in the region.

The Global Middle East and Asia Pacific Cell and Gene Therapy Market is estimated to be valued at US$ 4147.82 Th in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the Middle East and Asia Pacific cell and gene therapy market are BASF SE, Croda Health Care, JRS Pharma, Lipoid GmbH, Azelis, U.K. Vet Chem, Gattefoss, Synergy API, Anzchem, Vantage.

The growing demand for cell and gene therapies to treat chronic diseases like cancer and neurological disorders in the region is driving the market growth. Further, the increasing investments by market players for R&D activities to develop advanced therapeutics is fueling the market expansion.

The market is also witnessing significant growth opportunities due to growing global expansion strategies adopted by key players in the Asia Pacific region. The players are focusing on partnerships, new product launches and acquisitions to strengthen their presence in developing countries and tap the high market potential.

Market key trends

Adoption of advanced technologies like CRISPR,is one of the key trends witnessed in the Middle East And Asia Pacific Cell And Gene Therapy Market Demand. These technologies are enabling development of personalized medicine and novel treatment approaches with higher efficacy and fewer side effects. Further, they are helping in overcoming challenges related to delivery, immune response and targeting of therapies. This is expected to boost the demand and uptake of advanced therapeutics in the region.

Porter’s Analysis

Threat of new entrants: High costs of establishing manufacturing facilities and funding for R&D activities poses barriers for new entrants.
Bargaining power of buyers: Large pharmaceutical companies and healthcare facilities have significant bargaining power as buyers due to their strong purchasing volumes.
Bargaining power of suppliers: Supplier markets are fragmented with no single supplier having significant control over pricing as there exists large number of suppliers for raw materials and intermediates.
Threat of new substitutes: Few alternatives are available for cell and gene therapies currently due to the complexity involved in their manufacturing and delivery; however, new alternative therapy areas pose a moderate threat over the long term.
Competitive rivalry: Significant competition exists among established players who invest heavily in expanding their product portfolios and geographical reach through partnerships and acquisitions.

The Middle East and North Africa region accounted for the largest share in terms of value for the in 2024. Growing medical tourism, improving healthcare infrastructure, and rising healthcare expenditures in countries like Saudi Arabia, UAE, and Israel have supported market growth. China is projected to witness the fastest growth over the forecast period, expanding at a CAGR of over 9%, supported by improving regulatory framework, investments in biotech sector, and focus on developing indigenous innovation.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it