The global gene therapy market was valued at $2.5 billion in 2021 and it is expected to reach $29.9 billion at a CAGR of 24.7% between 2022 and 2032. The market is estimated to gain more growth opportunities due to the rising prevalence of chronic diseases such as cancer, heart disease, hemophilia, AIDS, fibrosis, and others. Constant expansion for this chronic disease and related genetic studies has driven market growth over the last few years.
By region, North America is leading the global gene therapy market with significant share.
There are three types of gene therapy techniques such as gene augmentation therapy, gene inhibition therapy, and killing of specific cells. Demand for these types of gene therapies is increasing in several emerging nations, which would drive the growth of the market. Moreover, gene therapy involves the partial or complete replacement of defective genes in a human’s body with healthy ones to treat or prevent disease proliferation. Some rare diseases associated with genetic disorders and other related illnesses are projected to accelerate the growth of the market in the future. Technological advancement is another driver of market growth. At present days, scientific development is helping in the process of gene therapies. There is a reliable process to get genetic material into cells. This method would only target the correct cells while reducing the risk of side effects. Europe was the first region in gene therapy development. At present days, many pharmaceutical companies are established in European countries, which is a plus point for the regional market. Hence, this would create initial growth opportunities for the gene therapy market.
Source: SAI Research
However, some points are also essential for the gene therapy market. Several factors have developed over the past few years, which have been hampering the market. First of all, the outbreak of the COVID-19 pandemic hampered the market growth a couple of years ago. Due to this pandemic situation, manufacturing companies associated with pharmaceuticals and medicine developers had to focus on producing vaccines for the novel virus. Thus, this circumstance ceased the production of gene therapy medicines such as biological products, and other drugs. After the pandemic, the market is gradually gaining growth opportunities. In addition, FDA has regulated biological products in several countries. Moreover, other factors are presently hindering the market. For example, expensive gene therapy procedures, ethical issues with gene therapy, and side effects of gene therapies, among others are expected to hamper the market growth during the upcoming years.
Scientific development and technical excellence are growing in developed countries. This would help the medicine manufacturing companies to produce more innovative products, which accelerate the gene therapy market. Cellular and gene therapy is developing. This is anticipated to propel major transformation with hundreds of products. This would change the scenario of the patients who are facing life-threatening disorders as well as other clinical conditions.
Gene therapy is a promising area for pharmaceutical and biotechnology companies. Most of the key players are focusing on new gene therapy products to capitalize on growth opportunities across the global market. Hence, these innovative products are in the pre-clinic stage. Other products are in the clinical phase and are expected to secure approval in the upcoming years. Moreover, multiple companies from various developed nations are focusing on various disease areas, including hemophilia A and B, Fabry disease, and wet age-related macular degeneration, among others. These are also driving the market. Furthermore, there are several other factors such as the number of clinical trials, growing product launches, collaborations, and development of products that are anticipated to accelerate the market growth. This would create several lucrative opportunities for the growth of the gene therapy market during the forecast period. The government of several nations is trying to make an investment in R&D activities, which is anticipated to gain several benefits for their major players across the globe.
Based on indication type, the global gene therapy market is segmented into acute lymphoblastic leukemia, inherited retinal disease, large b-cell lymphoma, ADA-SCID, melanoma, beta thalassemia, peripheral arterial disease, spinal muscular atrophy, and others. Spinal muscular atrophy has led the market over the last few years and accounted for the largest share of the market during the forecast period. On the other hand, the large b-cell lymphoma category is another segment that has become the second largest segment holding the maximum share of the market due to the development of gene therapy, zolgensma, and others. This has significantly proven efficient in the treatment of spinal muscular atrophy and b-cell lymphoma.
In terms of vector type, the global gene therapy market is categorized into AAV, lent virus, retrovirus, gamma retrovirus, modified herpes simplex virus, adenovirus, and non-virus plasmid vector, among others. The AAV segment accounted for the largest share of the market and is anticipated to lead the market over the upcoming years due to its increasing usage across multiple therapeutic areas, which is witnessing considerable demand. Moreover, AAV is a promising nonpathogenic vector of gene therapy to treat neurodegenerative diseases in the central nervous system. AAV is the primary and leading procedure for gene therapy, thus, it is widely used to treat verities of human diseases.
By regions, the global gene therapy market is segmented into North America, Europe, Asia-Pacific, Latin America, and Africa. Among these, North America has led the market with a significant market share and is anticipated to hold its dominant position during the forecast period due to the increasing development of cellular therapy and the presence of a substantial number of biopharma companies, multiple government agencies which are focusing on investing in their nations of this region. Additionally, most of the key players from this region are focusing on developing innovative products for the benefit of the gene therapy market. New business strategies such as a merger, acquisitions, and wide investments would help the market growth in the upcoming years. They are also trying to create new business strategies by establishing mergers and acquisitions. Hence, these would help the gene therapies market during the forecast period from 2022 to 2032.
According to the study, key players such as AGTC (U.S), AnGes (Japan), AGC Inc (Japan), Amgen (U.S), Bristol Myers Squibb (U.S), BlueBird Bio (U.S), Biogen (U.S), Cellectis (France), Dynavax Technologies (U.S) Fortress Biotech (U.S), GenSight Biologics S.A (France), Gilead Sciences (U.S), Mergen Limited (India), Novartis AG (Switzerland), Organogenesis (U.S), Orchard Therapeutics (U.K), Poseida Therapeutics (U.S), Roche Holding (Switzerland), Sangamo Therapeutics (U.S), Sarepta Therapeutics (U.S), among others are leading the global gene therapy market.
|Market Size in 2021||US$ 2.5 Billion|
|Market Volume Projection by 2032||US$ 29.9 Billion|
|Forecast Period 2022 to 2032 CAGR||24.7%|
|Historical Data||2019, 2020 and 2021|
|Forecast Period||2022 to 2032|
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North America, Europe, Asia-Pacific, LAMEA
|Companies covered||Actia Group (France), Autel Intelligent (China), BorgWarner (U.S), BMW AG (Germany), Continental AG (Germany), DSA Daten (Germany), DG Technologies (U.S), Denso (Japan), Fortiv (U.S), List Privatstiftung (Austria), Mercedes-Benz Group (Germany), Robert Bosch (Germany), Snap-On (U.S), Softing (Germany), SPX Corporation (U.S) & Others|
The Global Gene Therapy Market Has Been Segmented Into:
The Global Gene Therapy Market – by Indication Type:
The Global Gene Therapy Market – by Vector Type:
The Global Gene Therapy Market – by Regions:
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