New York, April 11, 2023 (GLOBE NEWSWIRE) -- Market.us reports that The global gene therapy market accounted for USD 5.6 billion in 2022 and is expected to reach USD 49.3 Bn by 2032, registering a CAGR of 25% during the forecast period from 2022 to 2032. Gene therapy is a procedure that modifies a person’s genes to cure a disease. This technique allows doctors to treat the disorder by changing a person’s genetic makeup using drugs or surgery. Gene therapy can work by several mechanisms. This therapy includes exchanging defective genes in the patient’s body for healthy ones to prevent disease proliferation. Gene therapies are used to treat a small number of diseases.
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Key Takeaway:
- By type, the viral vector segment generated a revenue share of 85% in 2022.
- By gene type, the antigens segment held the largest market revenue share in 2022.
- By delivery methods, the in-vivo segment has generated the largest revenue share during the forecast period 2023-2032.
- By disease indication, the oncology segment dominated the market, growing at the fastest CAGR over the forecast period.
- By distribution channel, the hospital segment has dominated the market and is growing at a CAGR of 8.8% from 2023 to 2032.
- In 2022, North America dominated the market with the highest revenue share of 65%.
- Europe held a 20% revenue share in 2022.
- Asia-Pacific will grow at a CAGR of 5.3% from 2023-2032.
Global gene therapy is the approach to the influence of the appearance of certain genes as the causes of diseases. This treatment is very beneficial in treating a number of diseases. The major factors fueling the market growth include technological advances and increasing dominance of target diseases.
Factors affecting the growth of the Gene Therapy Market
There are several factors that can affect the growth of the gene therapy market. Some of these factors include:
- Increasing investments in R&D: The increase in investments in R&D by private and government organizations will create significant growth in the gene therapy market.
- The invention in gene therapy for disease treatment: The invention in gene therapy for cardiovascular and rare disease treatment is raising awareness regarding the capability of gene therapy to cure diseases. This is one of the major factors responsible for the market’s positive growth.
- Rising prevalence of cancer: The prevalence of cancer is growing worldwide. Along with this, government support for gene therapy is also growing. This is anticipated further to propel the demand for the gene therapy market.
- Increasing population: The increase in population has led to a rise in chronic diseases, meaning more people are opting for gene therapy, impacting the market expansion positively.
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Top Trends in Global Gene Therapy Market
Developed countries are developing advanced treatment options for chronic diseases. Therefore, it is a leading shift in adopting this treatment for conventional treatment options like chemotherapy, which has severe side effects and long-term complications. In addition, the shift towards approving viral vectors provides high immunogenicity and lower toxicity for such therapies.
Market Growth
The growth of the gene therapy market is influenced by factors such as replacing a disease-causing gene with a healthy copy of a gene and a strong product portfolio. The high prevalence of target disease and interest in inventive and novel therapy provides significant growth to the market. Furthermore, the rising investments in R&D by private and government organizations are expected to create further prospects for the growth of the gene therapy market. The fast technological developments in molecular biology in genomics research and the advancements in gene therapies are anticipated to contribute to the market's growth in recent years greatly. The dominance of rare diseases such as cancer and cardiovascular disease is expected to affect gene therapy application requirements positively.
Regional Analysis
The gene therapy market was dominated by North America, which acquired the most significant revenue share. Advancements in R&D related to gene therapy and increasing investments by private and government sectors are the main driving factors for the region. North America is the largest regional market for gene therapy. The presence of key market players in the region contributes to a large share of North America in the global market. Similarly, Europe is highly receptive to advanced treatment options for incurable diseases. Besides, higher search funding in such a field further propels the market growth. Asia-Pacific holds significantly less market share. The principal reason for this is its high cost. Developing countries such as India demonstrate guidelines for releasing and marketing products in the country.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 5.6 Billion |
| Market Size (2032) | USD 49.7 Billion |
| CAGR (from 2023 to 2032) | 25% |
| North America Revenue Share | 65% |
| Europe Revenue Share | 20% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
The increasing research studies and inventions are anticipated to impact the market significantly. One of the leading drivers for the global gene therapy market is rare genetic disorders among the population. Technological advancements in the field have helped the treatment of such diseases that were untreatable. The US Food and Drug Administration predicts receiving more than 200 applications of the therapy.
According to the National Organization for Rare Disease, the predicted incidence of spinal muscular atrophy is 1 in 10,000 live births in the US annually. In addition, gene therapy can be used to treat cancer, and the prevalence of cancer is increasing daily. This is anticipated to drive market growth in the upcoming years.
Market Restraints
The treatment technique is costly. Therefore, the high charge of expensive therapy has encouraged unwillingness to compensate for the treatment method by some insurance companies. This could largely influence the growth of the gene therapy market during the forthcoming years. In addition, the lack of skilled professionals such as doctors and scientists, the high cost of product development, strict regulatory policies, concerns regarding the unethical use of gene therapy, and unwanted immune responses could largely influence the market growth.
Market Opportunities
Gene therapy is encouraging to generate revenue for pharmaceutical and biochemical companies. The gene industry focuses on diseases such as hemophilia and multiple myeloma. Therefore, the patient pool for gene therapies is anticipated to create lucrative opportunities in the coming years. Presently maximum key players are focusing on new gene products to maximize the gene therapy market opportunities. Increased support and spending on gene therapy advances are estimated to create substantial business increases for the operating companies.
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Report Segmentation of the Gene Therapy Market
Type Insight
The viral vector segment dominated the gene therapy market, holding the greatest revenue share. Owing to the development of physiological methods for gene therapies during clinical and preclinical studies to treat various diseases. Adeno-associated virus is the most used viral vector due to its low immunogenicity and long-term transient expression. In addition, viral vectors also exhibit high levels of genomic expressions and integration in clinical trials.
Gene Type Insight
With the increasing prevalence of autoimmune diseases like cancer and improved R&D in antigen-based therapies, the antigen segment has held the largest market share of the global gene therapy market. It is also expected to continue its dominance in the market over the forecast period.
Delivery Methods Insight
The in-vivo method segment held the largest revenue share of the market. An increase in the selection of in-vivo therapies globally is anticipated to drive market growth. The genetic material can be provided directly to the targeted organ using the in-vivo method. Additionally, it is a minimally invasive and effective method. This helps segmental growth and thereby fuels market growth.
Disease Indication Insight
The Oncology segment dominated the global gene therapy market and is also expected to grow at the fastest CAGR due to the approval of gene therapies for cancer treatment. In addition, the accessibility of gene therapies that can be used to treat cancer and the increasing prevalence of cancer in the population is anticipated to boost market growth in the coming years.
Distribution Channel Insight
The hospital segment is anticipated to have the highest share of the market. This is due to the accessibility and availability of treatment methods in facilities hospitals can provide. The segment is also anticipated to maintain its dominance in the market over the forecast period.
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Market Segmentation
Based on Vector Type
- Viral Vectors (Retroviral, Adeno-Associated)
- Non-Viral Vectors (Oligonucleotides)
Based on Gene Type
- Antigen
- Receptor
- Growth Factors
- Cytokine
- Others
Based on the Delivery Method
- In-Vivo
- Ex-Vivo
Based on Disease Indication
- Ophthalmology
- Neurology
- Hematology
- Oncology
- Infectious Disease
- Cardiology
Based On the Distribution Channel
- Hospitals
- Pharmaceutical & Biochemical Companies
- Research Centers
- Academic Institutions
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Competitive Landscape
The competitive landscape of the market has also been examined in this report. Market players positioning facilities evaluate and provide a clear understanding of the present position of the market players. A few drugs are approved worldwide for treating genetic disorders, and this has leading dominance for such players in the market. Moreover, several candidates from other pharmaceutical companies are in preclinical and clinical stages that are until to be approved by regulatory authorities. Some of the major players include
- Novartis AG
- Biogen
- Gilead Science, Inc.
- Spark Therapeutics, Inc.
- Amgen, Inc.
- Jazz Pharmaceuticals, Inc.
- GlaxoSmithKline plc.
- Spartea Therapeutics
- Sibiono Gene Tech Co, Ltd.
- Orchard Therapeutics
- Bluebird Bio, Inc.
- Sunway Biotech CO, Ltd.
- Applied Genetic Corporation
- Astellas Therapeutics
- Merck & CO, Inc.
- REGENXIBO Inc.
- Sangamo Therapeutics, Inc.
- Cipla Inc.
- Intellia Therapeutics, Inc.
- BioMarin Pharmaceuticals Inc.
- Other Key Players
Recent Development of the Gene Therapy Market
- In June 2021, Biogen Inc. announced positive results from their phase 3-star study of their timrepigene emparvovec, an investigational gene therapy treatment of choroideremia.
- In February 2021, Spark Therapeutics announced that the first study participant had been dosed in the US region as a part of international gene therapy clinical trial related to Pompe disease.
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