Gene Therapy Market Size is valued at USD 7.54 Bn in 2022 and is predicted to reach USD 41.38 Bn by the year 2031 at a 21.06% CAGR during the forecast period for 2023-2031.
Gene therapy is a therapeutic approach that targets the fundamental genetic problem in order to treat or prevent diseases. Gene therapy offers an alternative to medications or surgery, enabling doctors to address a condition by modifying an individual's genetic makeup. Gene therapy is now able to treat a limited number of conditions, such as Leber congenital amaurosis, an eye condition, spinal muscular atrophy, a muscle condition. Several alternative gene therapies are being investigated to ensure their efficacy and safety. Medical professionals aim to apply the promising genome editing technique soon to cure human illnesses.
The development of the gene therapy market is due to the increasing occurrence of genetic disorders and rare diseases. These conditions, previously considered incurable, are now being targeted with innovative gene therapies that offer potential cures or significant symptom alleviation. Additionally, biotechnology and molecular biology advancements have improved our understanding of gene function and regulation, enabling the advancement of more precise and effective therapies. The gene therapy market has witnessed substantial growth and advancements in recent years, signifying a transformative era in medical treatment.
However, the high cost of gene therapy products presents a challenge in the gene therapy market. These cutting-edge treatments offer promising solutions for genetic disorders and diseases, but their prohibitive prices can limit patient access and strain healthcare systems. Striking a balance between affordability and rewarding innovation is critical. Regulatory agencies, healthcare providers, and pharmaceutical companies must collaborate to develop pricing models that ensure equitable access to gene therapies while incentivizing further research and development in this transformative field.
Competitive Landscape
Some Major Key Players In The Gene Therapy Market:
- Novartis Ag
- Biogen Inc.
- Gilead Sciences, Inc.
- Bristol-Myers Squibb
- Alnylam Pharmaceuticals, Inc.
- Sarepta Therapeutics, Inc.
- Amgen, Inc.
- Orchard Therapeutics Plc
- Hoffmann-La Roche Ag
- Jazz Pharmaceuticals Plc
- Uniqure N.V.
- Johnson & Johnson
- Bluebird Bio, Inc.
- Biomarin Pharmaceutical Inc.
- Krystal Biotech, Inc.
- Shanghai Sunway Biotech Co. Ltd.
- Sibiono Genetech Co. Ltd.
- Ferring B.V.
- Vertex Pharmaceuticals Incorporated
- Pfizer, Inc.
- Sangamo Therapeutics, Inc.
- Regenxbio
- Ultragenyx Pharmaceutical Inc.
- Meiragtx Holdings Plc
- Anges, Inc.
- Others
Market Segmentation:
The Gene therapy market segmentation is based on type, Vector, therapeutic area, delivery method, and route of administration. Based on type, the market is segmented into gene silencing, cell replacement, gene augmentation, and other therapies. As per the therapeutic areas, the market is segmented into neurology, oncology, hepatology, and other therapeutic areas. According to vectors, the market is segmented into Viral vectors (Retroviral Vectors (Gamma Retroviral Vectors, Lentiviral Vectors), Adeno-Associated Viral Vectors, Other Viral Vectors), Non-Viral Vectors (Oligonucleotides, and Other Non-Viral Vectors). As per the the delivery method, the market is segmented as in Vivo and Ex Vivo. The route of administration segment includes intravenous other routes of administration.
Based On Type, Gene Slicing The Segment Is Accounted As A Major Contributor In The Gene Therapy Market.
Gene slicing is a vital technique within the gene therapy market, allowing for the precise modification of genetic material. This technology's driving force lies in its potential to treat genetic disorders, including inherited diseases, by replacing or repairing faulty genes. As gene therapy advances, the ability to accurately splice genes becomes crucial for developing targeted and effective treatments. This innovative approach holds promise for improved patient outcomes and has the potential to transform the healthcare landscape by providing personalized solutions for genetic conditions.
The Neurology Segment Witnessed Growth At A Rapid Rate.
The neurology gene therapy market is driven by the potential to treat previously untreatable neurological disorders through genetic interventions. Advancements in gene therapy techniques offer hope for conditions like Parkinson's disease and ALS. This evolving field leverages innovative technologies to target the genetic root causes of neurological ailments, with promising results in preclinical and clinical trials. As the understanding of neurogenetics deepens and the safety and efficacy of gene therapies improve, the market is poised to grow, offering new therapeutic options for patients with challenging neurological conditions.
In The Region, The North American Gene Therapy Market Holds A Significant Revenue Share.
The North American gene therapy market is driven by several factors, with one prominent driver being robust research and development initiatives. The region's advanced healthcare infrastructure, substantial investment in biotechnology, and supportive regulatory frameworks encourage innovation and the development of cutting-edge gene therapies. This fosters collaboration between academic institutions, pharmaceutical companies, and startups, creating a dynamic landscape for gene therapy advancements.
Additionally, the increasing prevalence of genetic disorders and the demand for personalized medicine contribute to the market's growth, making North America a hub for gene therapy research and adoption. In addition, Asia Pacific is estimated to grow rapidly in the global gene therapy market due to its large population with unmet medical requirements and increasing demand for novel technologies to treat rare but increasingly prevalent diseases.
Recent Developments:
- In May 2023, Novartis acquired a candidate gene therapy from Avrobio, a company experiencing financial challenges. Novartis made an unprecedented advance payment of $87.5 million for the clinical-phase asset, with no stipulations regarding future payments. The agreement encompassed AVR-RD-04, a hematopoietic stem cell gene therapy program under investigation designed to treat the uncommon genetic disorder cystinosis.
- In April 2023, Bristol-Myers Squibb expanded its global cell therapy manufacturing network. This expansion will enable in-house viral vector production via a manufacturing facility in the United States and its activities in Libertyville, Illinois. To make this happen, the business has signed an arrangement with Novartis. The facility and its operations could generate viral vectors for both of Bristol Myers Squibb's CAR T cell treatments. This advancement furthered the company's long-term goals in cell therapy.
Gene Therapy Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 7.54 Bn |
|
Revenue Forecast In 2031 |
USD 41.38 Bn |
|
Growth Rate CAGR |
CAGR of 21.06% from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Type, By Therapeutic area, By Delivery method, By Route Of Administration |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Novartis Ag, Biogen Inc., Gilead Sciences, Inc., Bristol-Myers Squibb, Alnylam Pharmaceuticals, Inc., Sarepta Therapeutics, Inc., Amgen, Inc., Orchard Therapeutics Plc, F. Hoffmann-La Roche Ag, Jazz Pharmaceuticals Plc, Uniqure N.V., Johnson & Johnson, Bluebird Bio, Inc., Biomarin Pharmaceutical Inc., Krystal Biotech, Inc., Shanghai Sunway Biotech Co. Ltd., Sibiono Genetech Co. Ltd., Ferring B.V., Vertex Pharmaceuticals Incorporated, Pfizer, Inc., Sangamo Therapeutics, Inc., egenxbio, Ultragenyx Pharmaceutical Inc., Meiragtx Holdings Plc, Anges, Inc. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Corporate
Office :
Office No.5170, 5th Floor Marvel Fuego, Magarpatta Rd, Pune, 411028
info@insightaceanalytic.com
