COVID-19 Impact on Gene Therapy Market
In a recent press release, bluebird bio, one of the leading gene therapy developers, announced that COVID-19 has delayed the EU launch and US filing of the company’s gene therapy candidate Zynteglo (LentiGlobin). The company now expects to dose the first commercial patient with Zynteglo in Germany in the second half of 2020. Earlier, the company had communicated the first half of the year as the launch date.
Gene Therapy Market before COVID-19
Gene therapy market is characterized by close to 500 drug candidates that are currently under development. According to a market report released last year, the gene therapy market was estimated to be over USD 10 billion by 2030. The infographic below presents key facts related to the gene therapy market.
Earlier this year, a number of industry players, including contract manufacturers announced significant investments in the gene therapy space.
Gene Therapy Market after COVID-19
As highlighted earlier, players, such as bluebird bio have certainly been impacted by COVID-19. While some other players, such as Pfizer have announced little impact on their gene therapy development plans.
Roots Analysis has put together a proprietary model taking into consideration several parameters to evaluate the impact of COVID-19 on the gene therapy market. The parameters considered for the analysis include:
- The breadth of the impact
- Length of the impact
- The capability of developers (in terms of cash flow and financial well-being)
- Regulatory environment
- Impact on other stakeholders (such as contract manufacturers)
A number of gene therapy developers are also re-shifting their focus to develop novel vaccines for COVID-19. The revised short-term focus across these established developers is likely to contribute significantly to the impact the gene therapy market.
Overall, the gene therapy market is likely to witnesses a short-term decline in the overall market growth rate. The ability of the developers to adapt to novel trial designs, manage the supply chain, and navigate regulatory environment is likely to play a critical role in minimizing the impact of COVID-19.
To know more about the gene therapy programs that have been impacted by COVID-19, and the impact of the pandemic on the overall market size, drop a note at firstname.lastname@example.org.