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  • Gene Therapy Market Growth Analysis | 2023-2028

    Gene Therapy Market Growth Analysis | 2023-2028

    Gene Therapy Market Growth Analysis | 2023-2028
    Report code - SRHL169 Delivery - 2 Weeks
    Gene Therapy Market Size, Share, Trend, Dynamics, Industry, Forecast, and Growth Anal See more...

    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.

    Gene-Therapy-Market-Size

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    What is gene therapy?

    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.

    Gene Therapy Market Report Overview

    Market Size in 2023

    USD 9.35 Billion

    Market Size in 2028

    USD 23.59 Billion

    Market Growth (2023-2028)

    CAGR of 20.33%

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Key Players

    Some of the major players in the global market are-

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

    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.

    Gene-Therapy-Market-Snapshot

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    Segment Analysis

    By Indication Type

    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.

    By Vector Type

    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 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.

    Gene-Therapy-Market-Regional-Analysis

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    Segmentation

    This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The global gene therapy market is segmented into the following categories:

    By Vector Type

    • Non-Viral Vectors
      • Regional: North America, Europe, Asia-Pacific, and RoW
      • Vector Type: Oligonucleotides and Other Non-Viral Vectors
    • Viral Vectors
      • Regional: North America, Europe, Asia-Pacific, and RoW
      • Vector Type: Retroviral Vectors, Adeno-Associated Virus Vectors, and Other Viral Vectors

    By Indication Type

    • Neurological Diseases
    • Cancer
    • Duchenne Muscular Dystrophy
    • Hepatological Diseases
    • Others

    By Delivery Method Type

    • In Vivo Gene Therapy
    • Ex Vivo Gene Therapy

    By Region

    • North America (Country: the USA, Canada, and Mexico)
    • Europe (Country: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
    • Asia-Pacific (Country: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
    • Rest of the World (Sub-Region: Latin America, the Middle East, and Others)

    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.

    Report Features

    This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Gene Therapy Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

     

    Target Audience

    The following is a list of the customers that the market aims to convert the most:

    • Manufacturers
    • Suppliers
    • Distributors
    • Organizations
    • Government bodies

    Critical Questions Answered in the Report

    • What are the key trends in the market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the market?
    • What are the key strategies adopted by the major vendors to lead in the market?
    • What is the market share of the top vendors?

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The gene therapy market is expected to grow from US$ 9.35 Billion in 2023 to US$ 23.59 Billion by 2028.

    Gene therapy is a technique that uses the introduction of DNA into a patients 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.

    North America held the largest share of the market in 2022 as well as the fastest-growing market for Drone Service during the forecast period.

    The gene therapy market is expected to grow at a CAGR of 20.33% during the forecast period.

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

    The prime factor that is contributing to the growth of the 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.