The global gene therapy market was valued at US$ 6.50 billion in 2022 and is expected to reach over US$ 38.76 billion by 2032, poised to grow at a registered CAGR of 19.60% from 2023 to 2032.
Access our Premium Real Time Data Intelligence Tool, Visit: Precedence Statistics
Key Takeaway:
The U.S. gene therapy market reached US$ 1.28 billion in 2022 and is predicted to grow around US$ 7.55 billion by 2032, poised to grow at a registered CAGR of 19.50% from 2023 to 2032.
Based on the region, the North America segment dominated the global gene therapy market in 2020, in terms of revenue and is estimated to sustain its dominance during the forecast period. The several government organizations are supporting research campaigns around the country, owing to the robust regulatory framework for cellular treatment development and the substantial presence of biopharmaceutical businesses.
On the other hand, the Europe is estimated to be the most opportunistic segment during the forecast period. The presence of modern healthcare infrastructure, availability of reimbursements, and the presence of significant industry players in the region are all major factors driving the growth of the gene therapy market in the Europe.
The gene therapy is described as the treatment of an illness by changing, replacing, or supplementing a missing or defective genetic combination that is responsible for the disease. The gene therapy has become one of the most desirable research goals in the fight against degenerative illnesses. The need for gene therapy is being driven by an increase in the number of cases of cancer and other chronic diseases all across the world. The advancements in gene therapies are projected to be approved in the upcoming years, contributing to the gene therapy market’s growth during the forecast period.
The gene therapies are designed to treat diseases by altering genetic information, such as inactivating malfunctioning genes or replacing a disease-causing gene with a healthy copy of gene. The gene therapy is being utilized to treat a variety of disorders and has demonstrated to be effective. This form of treatment can cure diseases such as diabetes, cancer, heart disease, and AIDS.
The growth of the gene therapy market is influenced by factors such as a strong product portfolio, the expanding investments by key market players, and a high prevalence of target diseases and interest in innovative and new therapy. Nonetheless, the high cost of product development and strict management tactics are expected to hinder the growth of gene therapy market.
Furthermore, the increased investment in research and development by government and private organizations will create further prospects for the growth of gene therapy market during the forecast period. However, the severe side effects such as poor immune responses could stymie the gene therapy market’s expansion in the near future.
The advanced therapeutic solutions for chronic diseases are being used in developed countries. As a result, traditional treatment methods like as chemotherapy, which have adverse side effects and long-term repercussions, are being replaced with this treatment. For the development of such medicines, there is also a shift in trend towards the use of viral vectors, which have a low toxicity and high immunology.
The rapid technological advancements in cellular and molecular biology in genomics research, have contributed greatly to the growing gene therapy market in recent years. The academicians, researchers, and in-house researchers of major market companies with significant funding have all played critical roles.
In many industrialized countries, the frequency of cardiovascular diseases is increasing, and there is a growing need to cure these diseases in less time, resulting in players investing extensively in research and development of highly effective and innovative therapeutics such as gene therapy. The prevalence of rare diseases such as cardiovascular and cancer diseases will have positive impact on the demand for gene therapy applications.
Currently, only a few market players are dominating the gene therapy market. These market players are significantly contributing to the market’s expansion. The core members who are working on item dispatching and other important coordinated activities to strengthen their market reach globally. To increase their cancer gene therapy research and product portfolio, local and small market players are increasingly partnering and developing alliances with large market players.
| Report Coverage | Details |
| Market Size by 2032 | US$ 38.76 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 19.60% |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Companies Mentioned | Dimension Therapeutics Inc., Taxus Cardium Pharmaceuticals Group Inc., Epeius Biotechnologies Corp., Shanghai Sunway Biotech Co. Ltd, Applied Genetic Technologies Corporation, Bristol-Myers Squibb Company, American Gene Technologies, BioMarin Pharmaceuticals Inc., Gensight Biologics S.A., Sibinono GeneTech Co. Ltd |
Based on the vector type, the viral vector segment accounted largest revenue share of over 85% in 2022. Due to developments in physiochemical approaches for gene therapies during preclinical and clinical studies for the treatment of various diseases, the viral vector segment is expected to grow at the rapid pace during the forecast period.
On the other hand, the non-viral vector segment is estimated to be the most opportunistic segment during the forecast period. This is due to the widespread availability of non-viral vector gene treatments based on oligonucleotides.
Based on the application, the oncological disorders segment dominated the global gene therapy market in 2022, in terms of revenue and is estimated to sustain its dominance during the forecast period. Due to the approval of an increasing number of gene therapies for cancer therapy and the rising incidence of hematologic tumors, the oncological disorders segment is expected to grow at the fastest CAGR during the forecast period.
On the other hand, the neurological disorders segment is estimated to be the most opportunistic segment during the forecast period. The targeted gene therapy has advanced significantly, allowing for the treatment of important neurological illnesses using a variety of techniques ranging from exogenous gene expression to endogenous gene suppression.
Key Companies & Market Share Insights
The key market players can expect profitable growth possibilities as research and development investments are rising at a rapid pace. In addition, the market players are implementing key marketing strategies for the growth and development of gene therapy market. REGENXBIO Inc. and Ultragenyx Pharmaceutical Inc., for example, deployed new technology for the development of gene therapy treatments in March 2020.
Segments Covered in the Report
By Vector Type
By Delivery Method
By Gene Type
By Application
By Geography
PROCEED TO BUY :
ASK FOR SAMPLE
No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client
