Gene Therapy Market Growth Analysis | 2023-2028

Market Insights

“The gene therapy market was estimated at USD 9.35 billion in 2023 and is likely to grow at a CAGR of 20.33% during 2023-2028 to reach USD 23.59 billion by 2028”.

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Market Dynamics

Introduction

Gene therapy is a technique that uses the introduction of DNA into a patient’s body to treat or prevent disease. A functioning gene is present in the introduced DNA, to correct the effects of a disease, which causes mutations. This therapy aims at reestablishing normal function and involves repairing, repressing, or replacing dysfunctional genes that cause disease. Gene therapy:

• Serves as a promising treatment option for some genetic diseases such as muscular dystrophy and cystic fibrosis, certain inherited disorders, cancer, and viral infections.
• Addresses the root cause of severe diseases by aiding in drug development to identify the right target and approach.
• Provides a path to produce the functional protein in case of certain disorders where known genetic mutations lead to deficient or nonfunctional protein production by fixing the underlying defect.
• Poses a relatively low risk as a new gene introduced will integrate itself into the genome of the patient and continue functioning without hampering the operations of other genes.

Market Drivers

The prime factor that is contributing to the growth of the global gene therapy market are-

• Rising incidences of cancer, and other chronic diseases, availability of reimbursements, and increasing approvals and launches of new products.
• An increase in government support, ethical acceptance of gene therapy for cancer treatment, and a rise in the prevalence of cancer fuel the growth of the market.
• Factors such as growing approvals of gene therapy products, rising investment in research and development of gene therapies, and driving the market.

Segment Analysis

By Indication Type

“The Cancer segment is expected to experience the highest growth in the global market during the forecast period”.

The gene therapy market is segmented into neurological diseases, cancer, Duchenne muscular dystrophy, herpetology, and others. The Cancer segment is expected to experience the highest growth in the global market during the forecast period. This growth can be attributed to the approval of a growing number of gene therapies for the treatment of cancer and the rising incidences of hematologic cancers.

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By Vector Type

“The Non-Viral Vectors segment is expected to grow at a healthy and higher rate over the forecast period”.

The market is segmented as non-viral and viral vectors. The Non-Viral Vectors segment is expected to grow at a healthy and higher rate over the forecast period, owing to the higher market penetration of oligonucleotide-based non-viral vector gene therapies. The non-viral vectors’ segment has been further bifurcated into oligonucleotides and others; and the viral vectors’ segment has been further bifurcated into retroviral vectors, adeno-associated virus vectors, and others.

Regional Analysis

“North America is estimated to be the largest market during the forecast period”.

North America is estimated to be the largest market during the forecast period with lucrative growth opportunities. This growth can be attributed to the presence of major players, the rising prevalence of chronic diseases, high and increasing healthcare expenditure, the presence of advanced healthcare infrastructure, and the availability of reimbursements. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

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Key Players

The following are the key players in the Gene Therapy Market (arranged alphabetically)

• Akcea Therapeutics
• Alnylam Pharmaceuticals, Inc.
• AnGes MG, Inc.
• Biogen Inc.
• Bluebird Bio
• Dynavax Technologies Corporation.
• Gilead Sciences, Inc.
• Human Stem Cells Institute PJSC
• Jazz Pharmaceuticals, Inc.
• MolMed S.p.A.
• Novartis International AG
• Orchard Therapeutics plc.
• Sarepta Therapeutics, Inc.
• Shanghai Sunway Biotech Co., Ltd.
• Sibiono GeneTech Co. Ltd.
• Spark Therapeutics, Inc.

Note: The above list does not necessarily include all the top players in the market.

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Report Features

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Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

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Company Profiling

• Detailed profiling of additional market players (up to 3 players).
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Competitive Benchmarking

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