Dublin, April 06, 2023 (GLOBE NEWSWIRE) -- The "Gene Therapy Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global gene therapy market is expected to grow from $5.77 billion in 2021 to $7.37 billion in 2022 at a compound annual growth rate (CAGR) of 27.8%. The gene therapy market is expected to reach $21.25 billion in 206 at a CAGR of 30.3%.
Major players in the gene therapy market are Novartis AG, Bluebird Bio Inc., Spark Therapeutics Inc., Audentes Therapeutics, Voyager Therapeutics, Applied Genetic Technologies Corporation, UniQure N.V., Celgene Corporation, Cellectis S.A. and Sangamo Therapeutics.
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The gene therapy market includes revenues earned by entities by replacing a disease-causing gene with a healthy copy of the gene and inactivating a disease-causing gene that is not functioning properly. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The main types of gene therapy are antigen, cytokine, suicide gene, and others. The antigen is a poison or other foreign substance that triggers an immunological response in the body, including antibody formation. The different vectors include viral vector, non-viral vector, and others and are used in oncological disorders, rare diseases, cardiovascular diseases, neurological disorders, infectious diseases, and others. it is implemented in various sectors such as hospitals, homecare, specialty clinics, and others.
Incidences of cancer and other target diseases have been increasing significantly, which is calling for effective treatments, driving the growth of the gene therapy market. The rise in the number of cancer cases across the globe is likely to contribute to the growth of the gene therapy market during the forecast period.
For instance, in January 2022, according to the American Cancer Society, there will likely be 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the US, or roughly 1,670 fatalities every day. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43 percent of all new cancer cases.he four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of all new cancer cases.
Therefore, the rise in the cancer incidence rate globally is anticipated to boost the demand for the gene therapy market over the forthcoming years. Gene therapy is one of the most effective treatments in oncology. In this treatment, new genes are introduced into a cancerous cell or the surrounding tissue to cause cell death or slow the growth of cancer.
The high prices of gene therapy medicines are expected to limit the growth of the gene therapy market. The pressure to contain costs and demonstrate value is widespread. Political uncertainty and persistent economic stress in numerous countries are calling into question the sustainability of public health care funding.
In less wealthy countries, the lack of cost-effective therapies for cancer and other diseases has influenced the health conditions of the population and has led to a low average life expectancy. Luxturna, a one-time treatment for acquired retinal eye disease, costs $850,000 in the US and £613,410 in the UK, despite a markdown that is applied through Britain's National Health Service. Zolgensma, for spinal muscular atrophy, is valued at $2.1 million in the US and Zynteglo, which focuses on a rare genetic blood disorder, costs $1.78 million, thus restraining the growth of the market.
The use of machine learning and artificial intelligence is gradually gaining popularity in the gene therapy market. Artificial intelligence (AI) is the simulation of human intelligence in machines, which are programmed to display their natural intelligence. Machine learning is a part of AI. Machine learning and AI help companies in the gene therapy market to conduct a detailed analysis of all relevant data, provide insights between tumor and immune cell interactions, and offer a more accurate evaluation of tissue samples often conflicted between different evaluators.
The regions covered in the gene therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the gene therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Key Topics Covered:
1. Executive Summary
2. Gene Therapy Market Characteristics
3. Gene Therapy Market Trends And Strategies
4. Gene Therapy Market - Macro Economic Scenario
4.1 COVID-19 Impact On Gene Therapy Market
4.2 Ukraine-Russia War Impact On Gene Therapy Market
4.3 Impact Of High Inflation On Gene Therapy Market
5. Gene Therapy Market Size And Growth
5.1. Global Gene Therapy Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Gene Therapy Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Gene Therapy Market Segmentation
6.1. Global Gene Therapy Market, Segmentation By Gene Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Antigen
- Cytokine
- Suicide Gene
- Other Gene Types
6.2. Global Gene Therapy Market, Segmentation By Vector, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Viral Vector
- Non-Viral Vector
- Other Vectors
6.3. Global Gene Therapy Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Oncological Disorders
- Rare Diseases
- Cardiovascular Diseases
- Neurological Disorders
- Infectious Diseases
- Other Applications
6.4. Global Gene Therapy Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Hospitals
- Homecare
- Specialty Clinics
7. Gene Therapy Market Regional And Country Analysis
7.1. Global Gene Therapy Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Gene Therapy Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/4qlx5p
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