Dublin, Oct. 31, 2023 (GLOBE NEWSWIRE) -- The "Gene Therapy Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
The global Gene Therapy Market, valued at USD 6.01 billion in 2022, is set for substantial growth in the coming years, with a projected Compound Annual Growth Rate (CAGR) of 9.26%. By 2028, it is anticipated to reach USD 10.13 billion.
Unlocking the Potential of Gene Therapy:
Gene therapy, a groundbreaking approach to treating diseases by modifying, replacing, or supplementing defective genetic combinations, has emerged as a revolutionary frontier in combatting degenerative conditions.
Key Market Drivers:
- Advancements in Genetic Research: Increasing insights into the genetic basis of diseases have empowered scientists to pinpoint specific genes responsible for various disorders. Advancements in gene editing technologies, such as CRISPR-Cas9, TALENs, and zinc finger nucleases, have revolutionized gene therapy, enabling precise and efficient gene modifications.
- Rising Prevalence of Genetic Disorders: The growing number of individuals diagnosed with genetic disorders highlights the unmet need for effective treatments. Gene therapy offers targeted and long-lasting solutions for these disorders, driving demand and market opportunities.
- Collaborations and Partnerships: Collaborations facilitate knowledge sharing, expertise pooling, and innovation, expediting the development of advanced gene therapies. Partnerships provide access to specialized technologies, aid in navigating complex regulatory landscapes, and promote breakthroughs in gene therapy development.
Key Market Challenges:
- Technical Complexity: Developing effective gene therapies requires a profound understanding of genetics, molecular biology, and intricate cellular processes. Achieving precise and controlled gene delivery, along with potential unintended consequences, poses technical challenges.
- High Development Costs: Gene therapy development involves substantial research, clinical trial expenses, regulatory compliance costs, and the need to build skilled teams. Cutting-edge technologies and specialized laboratory equipment contribute to high development expenses.
Key Market Trends:
- Expanding Therapeutic Targets: The identification of new therapeutic targets broadens the scope of gene therapy applications, including complex diseases like cancer, cardiovascular diseases, neurodegenerative disorders, and rare conditions. Diversification attracts a larger patient base and fosters innovation.
- Growing CRISPR-Based Therapies: CRISPR-Cas9 technology's precision in gene editing accelerates gene therapy research. Its ability to target and modify genes enhances therapy efficacy and safety. CRISPR-based therapies simplify the regulatory approval process and spur global collaboration, driving market expansion.
Key Market Players
- REGENXBIO Inc.
- Oxford Biomedica PLC.
- Voyager Therapeutics Inc.
- Human Stem Cells Institute
- Dimension Therapeutics, Inc.
- Bristol-Myers Squibb Company
- Sanofi-Aventis
- Applied genetic technologies corporation.
- F. Hoffmann-la roche ltd.
- Bluebird bio, inc.
- Novartis ag
- Uniqure n.v
Report Scope:
In this report, the Global Gene Therapy Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Gene Therapy Market, By Vector Type:
- Viral Vector
- Non-Viral Vector
Gene Therapy Market, By Delivery Method:
- In-Vivo
- Ex-Vivo
Gene Therapy Market, By Indication:
- Rare Diseases
- Cancer
- Neurological Diseases
- Others
Gene Therapy Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
- Turkey
- Egypt
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 190 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $6.01 Billion |
| Forecasted Market Value (USD) by 2028 | $10.13 Billion |
| Compound Annual Growth Rate | 9.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/ys0ign
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