[Latest] Global Gene Therapy Market Size/Share Worth USD 7247.58 Million by 2028 at a 20.10% CAGR: Facts & Factors (Industrial Trends, Report, Analysis, Players, Outlook, Forecast, Growth, CAGR, Overview, Value, Segmentation)

SAN FRANCISCO, U.S., Feb. 17, 2023 (GLOBE NEWSWIRE) — Facts and Factors has published a new research report titled “Gene Therapy Market Size, Share, Growth Analysis Report By Vector Type (Viral Vector and Non-Viral Vector), By Therapy (In Vivo Therapy and Ex Vivo Therapy), By Gene Type (Antigen, Cytokine, Tumour Suppressor, Suicide, Deficiency, Growth Factors, Receptors, and Others), By Application (Oncological Disorders, Rare Diseases, Neurological Disorders, and Other Diseases), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecast 2022 – 2028” in its research database.

“According to the latest research study, the demand of global gene therapy market size was worth around USD 2415.10 million in 2021 and is estimated to grow to about USD 7247.58 million by 2028, with a compound annual growth rate (CAGR) of approximately 20.10% over the forecast period.”

Gene Therapy Market Overview:

A gene is a fundamental hereditary life unit that contains instructions for performing a specific function. Treatment for cancer, chronic illnesses, infectious diseases, and blood issues is gene therapy. Gene therapy replaces faulty genes in a patient’s body with good ones to treat or prevent disease progression. The increase in chronic diseases such as cancer, rare illnesses, genetic disorders, and others is a significant driver driving the Gene Therapy Market Growth. The market is expanding due to rising government backing, ethical recognition of gene therapy as a cancer treatment, and increased cancer prevalence.

Rising healthcare expenses, the presence of healthcare infrastructure, and the availability of reimbursements all present market opportunities for gene therapy. During the anticipated period, it is anticipated that the growing number of clinical trials, product launches, collaborations, and product developments will generate a lucrative potential for the expansion of the gene therapy market. However, gene treatment costs are anticipated to somewhat restrain market expansion throughout the forecast period.

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Market Dynamics:

Growth Drivers

• Increasing investments in pharmaceutical R&D are likely to pave the way for global market growth

Several Pharma companies continue to make significant advancements in new medications and equipment. In the pharmaceutical industry, R&D is crucial. Pharmaceutical companies invest in R&D to bring superior, cutting-edge medicines to market. The trend indicates that major Pharma companies are enhancing their R&D effectiveness through significant R&D investments to see long-term returns for investors and through joint R&D efforts. The rise in pharmaceutical Research and development has resulted in an increased number of cell and gene therapy candidates. To produce cost-effective and efficient gene therapy, it has become essential to outsource manufacturing services.

Restraints

• High operational costs may hamper the global market growth.

It is expected that thousands of facilities would be required to manufacture the therapies currently in clinical development. Viral capacity is one of the areas that needs to be accelerated. Most viral vectors are manufactured utilizing adherent production, which is costly vials of 20 million cells that cost between USD 20,000 and USD 30,000. The production cost for gene therapy can range between USD 500,000 to USD 1 million, excluding R&D, clinical trial costs, and the price of constructing the commercial infrastructure required to enable access to patients.

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Opportunities

• An increasing number of gene therapy clinical trials bring up several growth opportunities

Clinical trials are the foundation of medical research, assisting pharmaceutical and biopharmaceutical businesses in developing and commercializing innovative cell and gene therapies. Clinical trial demand has increased in recent years, increasing the preference for innovative medications to address unmet medical needs. A considerable increase in the number of gene therapy clinical trials is likely to fuel demand for manufacturing services, propelling growth in the gene therapy market.

Report Scope:

Key Insights from Primary Research

• As per the analysis, the gene therapy market share is likely to grow above a CAGR of around 20.10% between 2022 and 2028.
• The Gene Therapy market size was worth around US$ 2415.10 million in 2021 and is estimated to hit approximately US$ 7247.58 million by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• The increasing prevalence of chronic diseases such as cancer, rare illnesses, genetic disorders, and others is a significant driver driving the Gene Therapy Market Growth.
• By vector type, the vector segment will dominate the market in 2021.
• By application, the oncological disorders segment will dominate the market in 2021.
• North America will dominate the Global Gene Therapy market in 2021.

Gene Therapy Market: Segmentation Analysis

The global gene therapy market is segregated based on vector type, therapy, gene type, application, and region.

Based on vector type, the market is divided into Viral Vectors and Non-Viral Vectors. Among these, the viral vector segment dominates the market in 2021. Based on therapy, the market is divided into In Vivo Therapy and Ex Vivo Therapy. Over the forecast period, the in vivo therapy segment is expected to develop at the fastest rate in 2021.

Based on gene type, the market is divided into Antigen, Cytokine, Tumour Suppressor, Suicide, Deficiency, Growth factors, Receptors and Others. Among these, the antigen segment dominates the market in 2021. Based on application, the market is divided into Oncological Disorders, Rare Diseases, Neurological Disorders and Other Diseases. Among these, the oncological disorder segment dominates the market in 2021.

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Regional Analysis:

• North America likely dominates the global market due to increased spinal disorders

North America is expected to dominate the Global Gene Therapy Market in 2021. Several government authorities are investing in the region due to the presence of a big number of biopharma businesses and a solid regulatory environment for stimulating the growth of cellular treatment. As a result, the regional market is advancing. The existence of gene therapy research and development centers and institutions is projected to propel the market in North America.

Over the forecast period, the Asia Pacific regional market is expected to grow at a significant rate in 2021. The rising emphasis on healthcare in India is likely to fuel gene therapy demand throughout the predicted period. A rise in cancer cases in the country is also promoting the use of gene therapy in oncology therapies.

Competitive Players:

The report contains qualitative and quantitative research on the global gene therapy market, as well as detailed insights and development strategies employed by the leading competitors.

Some of the main players in the global gene therapy market include;        

• Novartis AG
• Gilead Sciences.
• Shanghai Sunway Biotech Co. Ltd.
• Adaptimmune Therapeutics plc.
• Orchard Therapeutics.
• Bristol-Myers Squibb.
• Amgen Inc.
• Adverum Biotechnologies Inc.
• Jazz Pharmaceuticals
• Shenzhen SiBionoGenentech
• Abeona Therapeutics Inc.
• Applied Genetic Technologies Corporation
• Intellia Therapeutics Inc.
• REGENXBIO Inc.
• Sangamo Therapeutics Inc.
• Astellas Therapeutics Inc.
• Bluebird Bio Inc.

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Recent Industry Developments:

• In October 2021, the National Institutes of Health, the Food and Drug Administration, ten pharmaceutical companies, and five non-profit groups launched a collaboration to speed up the discovery of gene therapy for the 30 million Americans who suffer from a rare disease. Such activities are anticipated to increase the demand for gene therapy.
• In February 2021, BioMarin Pharmaceutical Inc. provided an update on its investigational gene therapy programs that are currently in clinical development. The Food and Drug Administration (FDA) submitted additional requests to the Company for information needed to remedy the clinical hold issued in September 2021 for the PHEARLESS Phase 1/2 trial of BMN 307.

The global gene therapy market is segmented as follows:

By Vector Type

• Viral Vector
• Non-Viral Vector

By Therapy

• In Vivo Therapy
• Ex Vivo Therapy

By Gene Type

• Antigen
• Cytokine
• Tumor Suppressor
• Suicide
• Deficiency
• Growth factors
• Receptors
• Others

By Application

• Oncological Disorders
• Rare Diseases
• Neurological Disorders
• Other Diseases

By Region

• North America
• Europe
  • France
  • The UK
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Southeast Asia
• The Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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Key Offerings:

• Market Size, Trends, & Forecast by Revenue | 2022−2028
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis by Vector Type, Therapy, Gene Type, Application, and Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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