IMARC Group, a leading market research company, has recently released report titled “Gene Therapy Market Report by Gene Type (Antigen, Cytokine, Tumor Suppressor, Suicide Gene, Deficiency, Growth Factors, Receptors, and Others), Vector Type (Viral Vector, Non-Viral Techniques), Delivery Method (In-Vivo Gene Therapy, Ex-Vivo Gene Therapy), Application (Oncological Disorders, Rare Diseases, Cardiovascular Diseases, Neurological Disorders, Infectious Disease, and Others), and Region 2024-2032”, Offers a comprehensive analysis of the industry, which comprises insights on the global gene therapy market report.
How Big is the Gene Therapy Market?
The global gene therapy market size reached US$ 5.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 16.8 Billion by 2032, exhibiting a growth rate (CAGR) of 13.9% during 2024-2032.
Factors Affecting the Growth of the Gene Therapy Industry:
- Increased Funding and Investment:
The gene therapy sector is experiencing funding and investment from public and private entities. It underpins the extensive research and development (R&D) efforts required to bring gene therapy products from the laboratory to the clinic. Moreover, the growing funding accelerates the pace of clinical trials, enabling researchers to swiftly evaluate the safety and efficacy of gene therapies, and augment their journey to market approval and commercialization. Besides this, the commitment to substantial investment also reflects growing confidence in the potential of gene therapies to transform the treatment of various diseases, particularly those for which there are no effective treatments.
- Increasing Incidence of Genetic Disorders and Chronic Diseases:
The global rise in genetic disorders, chronic diseases, and cancer is escalating the demand for novel and effective treatment modalities, with gene therapy emerging as a particularly promising avenue. It presents a paradigm shift in healthcare, by directly addressing the genetic roots of diseases, offering symptomatic relief and potential long-lasting and transformative treatments. For patients afflicted with intractable genetic conditions, this approach can provide groundbreaking therapeutic benefits, ranging from substantial improvements in quality of life to complete disease remission. Consequently, the healthcare community and patients are increasingly advocating for the acceleration of gene therapy research and the subsequent availability of these innovative treatments.
- Technological Advancements:
Advancements in the manufacturing processes and delivery mechanisms of gene therapy are pivotal in enhancing its scalability, cost-efficiency, and patient accessibility. Moreover, various innovations in production techniques are significantly improving the quality, yield, and purity of gene therapy products, making them safer and more effective for clinical use. Furthermore, the development of cutting-edge delivery systems, including refined viral vectors, tailored nanoparticles, and exosomes, has profoundly impacted the field. These delivery technologies are crucial for ensuring that therapeutic genes reach their target cells effectively and safely, thereby maximizing the therapeutic potential of gene therapies while minimizing adverse effects.
For an in-depth analysis, you can refer sample copy of the report : https://www.imarcgroup.com/gene-therapy-market/requestsample
Leading Companies Operating in the Global Gene Therapy Industry:
- Abeona Therapeutics Inc.
- Adaptimmune Therapeutics plc
- Adverum Biotechnologies Inc.
- Amgen Inc.
- Astellas Pharma Inc.
- Biogen Inc.
- Bluebird Bio Inc.
- Mustang Bio Inc. (Fortress Biotech Inc.)
- Novartis AG
- Orchard Therapeutics plc
- UniQure N.V.
- Voyager Therapeutics Inc.
Gene Therapy Market Report Segmentation:
By Gene Type:
- Antigen
- Cytokine
- Tumor Suppressor
- Suicide Gene
- Deficiency
- Growth Factors
- Receptors
- Others
Based on the gene type, the market has been categorized into antigen, cytokine, tumor suppressor, suicide gene, deficiency, growth factors, receptors, and others.
By Vector Type:
- Viral Vector
- Adenoviruses
- Lentiviruses
- Retroviruses
- Adeno-Associated Virus
- Herpes Simplex Virus
- Poxvirus
- Vaccinia Virus
- Others
- Non-Viral Techniques
- Naked and Plasmid Vectors
- Gene Gun
- Electroporation
- Lipofection
- Others
Viral vectors account for the largest market share due to their ability to accommodate relatively large genes and their high transduction rates, which ensure effective gene transfer.
By Delivery Method:
- In-Vivo Gene Therapy
- Ex-Vivo Gene Therapy
On the basis of delivery method, the market is classified into in-vivo gene therapy and ex-vivo gene therapy.
By Application:
- Oncological Disorders
- Rare Diseases
- Cardiovascular Diseases
- Neurological Disorders
- Infectious Disease
- Others
Oncological disorders account for the largest market share due to the increasing prevalence of cancer globally and the significant potential of gene therapy to provide innovative treatments.
Regional Insight:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
North America’s dominance in the gene therapy market is attributed to its advanced biotechnological and healthcare research infrastructure, substantial investments in gene therapy research and development (R&D), and favorable regulatory environment supporting fast-track approval of such therapies.
Global Gene Therapy Market Trends:
At present, the increasing investment and funding for gene therapy research and development (R&D) by private and public sectors are accelerating the development of gene therapy treatments. Moreover, various technologies such as CRISPR-Cas9 are transforming the field of gene editing, making it easier and more efficient to modify genes.
These advancements are enabling the development of more targeted and precise gene therapies. Besides this, the gene therapy pipeline is expanding rapidly, due to the growing number of gene therapy candidates in various stages of clinical development. Also, researchers are exploring gene therapies for various diseases, including genetic disorders, cancer, and rare diseases.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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