Overview and Scope
Gene therapy refers to a method for treating or curing sickness that alters a person’s DNA. Gene treatments can function in a variety of ways: putting a healthy copy of the gene in place of a disease-causing gene, and putting a defective gene that causes an illness inactive.
Sizing and Forecast
The gene therapy market size has grown exponentially in recent years. It will grow from $9.66 billion in 2023 to $12.64 billion in 2024 at a compound annual growth rate (CAGR) of 30.9%. The growth in the historic period can be attributed to rising pharmaceutical r&d expenditure, a rise in public-private partnerships, government investments and rising cases of spinal muscular atrophy. .
The gene therapy market size is expected to see exponential growth in the next few years. It will grow to $27.77 billion in 2028 at a compound annual growth rate (CAGR) of 21.8%. The growth in the forecast period can be attributed to an increasing number of cancer cases, a growing aging population, increasing research and development spending in the pharmaceutical sector and a rising focus on gene therapy will drive the market.. Major trends in the forecast period include enhancing business operations through securing regulatory approvals, strengthening business activities through strategic collaborations and partnerships, expanding business capabilities through strategic acquisitions and strengthening operational capabilities through business expansions..
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Segmentation & Regional Insights
The gene therapy market covered in this report is segmented –
1) By Gene Therapy Type: Germline Therapy, Somatic Cell Therapy
2) By Vector: Viral Vector, Non-Viral Vector
3) By Application: Oncology, Orphan Disease, Knee Osteoarthritis, Neurological Disorders
4) By End Users: Biopharmaceutical Companies, Research Institutes, Other End Users
North America was the largest region in the gene therapy market in 2023. The regions covered in the gene therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Incidences of cancer and other target diseases have been increasing significantly, which is calling for effective treatments, driving the growth of the gene therapy market. The rise in the number of cancer cases across the globe is likely to contribute to the growth of the gene therapy market during the forecast period. For instance, in January 2022, according to the American Cancer Society, there will likely be 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the US, or roughly 1,670 fatalities every day. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43 percent of all new cancer cases. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43 percent of all new cancer cases. Therefore, the rise in the cancer incidence rate globally is anticipated to boost the demand for the gene therapy market over the forthcoming years. Gene therapy is one of the most effective treatments in oncology. In this treatment, new genes are introduced into a cancerous cell or the surrounding tissue to cause cell death or slow the growth of cancer.
Key Industry Players
Major companies operating in the gene therapy market report are UniQure NV, REGENXBIO Inc., Bristol-Myers Squibb, BioMarin Pharmaceuticals Inc., Jazz Pharmaceuticals Inc., Biocon, Cipla, EdiGene Inc, Takeda Pharmaceutical, Daiichi Sankyo Company, Mitsubishi Tanabe Pharma, Merck, GE Healthcare, Lonza, Pfizer, Cellular Biomedicine Group, GenScript, Albumedix Ltd, Catalent, Freeline Therapeutics, DiNAQOR AG, Vivet Therapeutics, Allergan, Amgen, Biocad, Celgene Corporation, Johnson & Johnson, Eli Lilly and Company, AstraZeneca, Bayer AG, Juno Therapeutics, Allogene Therapeutics, Bluebird Bio, Regen BioPharma, Bellicum, Biotchpharma, BrainStorm Cell Therapeutics, Pluristem, Sanofi
The gene therapy market report table of contents includes:
1. Executive Summary
2. Gene Therapy Market Characteristics
3. Gene Therapy Market Trends And Strategies
4. Gene Therapy Market – Macro Economic Scenario
5. Global Gene Therapy Market Size and Growth
…
32. Global Gene Therapy Market Competitive Benchmarking
33. Global Gene Therapy Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Gene Therapy Market
35. Gene Therapy Market Future Outlook and Potential Analysis
36. Appendix
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