The increasing funding for gene therapy research, high incidence of cancer, and rising product approvals worldwide are propelling the growth of the gene therapy market. Also, rapid progress in the molecular and cellular biology arena is contributing to the growth of the gene therapy market.
Gene therapy involves improving or replacing dysfunctional genes to reestablish normal functions. This is even the best treatment option for some of the genetic diseases and inherited diseases and even cancer. Besides, gene therapy helps in the drug development process to identify the right target and approach.
While all these factors are expected to propel the gene therapy market growth over the coming years, the market is not completely free of challenges. High upfront costs, rising costs of gene therapy research, and budget constraints in the healthcare firms are expected to hamper the gene therapy market growth through 2025.
Gene Therapy Market size shall reach a value of $2,221.Million in 2022 to $7695.6 Million in 2031, growing with a CAGR of 16.6% during the forecast period of 2022 to 2031.
Gene Therapy Market Growth and Trends
The global surge in research and development in genetics is leading to massive growth in the gene therapy market. Gene therapy is primarily driven by the potential shown by CAR T-cell usage that has gained significant attention from commercial and non-commercial sponsors and has a significant share in the pharmaceutical industry channel which will be a continuing trend over the next few years. Rapid progress in the field of molecular and cellular biology, propelled by rapid technological development in genomics and gene-editing tools, has resulted in increase in approved gene therapies along an ever-expanding channel. Despite budget impacts and affordability not being considered as key components of the value of novel therapy treatments, they are certainly significant elements for decision-making related to access. With the rise in diseases such as cystic fibrosis, cancer, heart disease, diabetes, AIDS, haemophilia, gene therapy is used to replace a faulty gene or adds a new gene as a remedy for cure or boost the body’s ability to battle against diseases. This is a key factor driving the growth of the gene therapy market with the increase in research in this arena. The gene therapy market has observed a pull-back of several products owing to their non-financial viability in earlier years. The value offered to healthcare systems and patients has to be balanced with the financial sustainability for developers as well as payers, which has made the gene therapy sector experience rise in competition for gene therapy buyouts, therefore resulting in very high premiums in the market. However, the demand for gene therapy in healthcare is leading the line of treatment line for critical illnesses.
In spite of the important health benefits derived from gene therapy, generally there are high upfront expenses involved, which lead to challenges in relation to sustainability and budget in the healthcare systems.
Gene Therapy Market Competition
Key companies operating in this industry are Bluebird Bio, Sangamo, Spark Therapeutics, Dimension Therapeutics, Avalanche Bio, Celladon, Vical Inc. and Advantagene.
Coverage Highlights
• Gene Therapy Market Revenue Estimation and Forecast (2022 – 2031)
• Production Estimation and Forecast (2022 – 2031)
• Sales/Consumption Volume Estimation and Forecast (2022 – 2031)
• Breakdown of Revenue by Segments (2022 – 2031)
• Breakdown of Production by Segments (2022 – 2031)
• Breakdown of Sales Volume by Segments (2022 – 2031)
• Gross Margin and Profitability Analysis of Companies
• Business Trend and Expansion Analysis
• Import and Export Analysis
Gene Therapy Market Segmentation
Product Outlook (Revenue, USD Million, 2022 - 2031)
• Ex vivo
• In Vivo
Application Outlook (Revenue, USD Million, 2022 - 2031)
• Cancer
• Monogenic
• Infectious disease
• Cardiovascular disease
• Other
Country (Revenue, USD Million, 2022 - 2031)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Gene Therapy Market Companies
• Bluebird Bio
• Sangamo
• Spark Therapeutics
• Dimension Therapeutics
• Avalanche Bio
• Celladon
• Vical Inc.
• Advantagene
• Amgen, Inc.
• Biogen
• Orchard Therapeutics plc.
• Dynavax Technologies
• AGTC
• Jazz Pharmaceuticals, Inc.
• Mustang Bio
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