Westford, USA, Sept. 12, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Global Gene Therapy Market will reach a value of USD 38.34 Billion by 2031, with a CAGR of 19% during the forecast period (2024-2031).
Numerous factors are responsible for the market's expansion, including the growing field of advanced therapies, the development of gene delivery technologies, and the increasing competition among major players centered on the commercialization of their therapies. As a crucial tactic to boost internal expertise and fortify product pipelines, biotechnology companies are investing in acquisitions, mergers, collaborations, and deals. Over the projection period, a strong pipeline is anticipated to support market growth. Researchers are trying to get gene therapy into clinical settings.
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Gene Therapy Market Segmental Analysis
The global gene therapy market is segmented on the basis of vector, indication, and region.
Based on vectors, the market is segmented into lentivirus, AAV, retrovirus & gamma retrovirus, modified herpes simplex virus, adenovirus, non-viral plasmid vector, and others.
In terms of indication, the market is segmented into acute lymphoblastic leukemia (ALL), inherited retinal disease, large B-cell lymphoma, melanoma (lesions), beta-thalassemia major/SCD, head & neck squamous cell carcinoma, peripheral arterial disease, spinal muscular atrophy (SMA), and others.
Region wise, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Gene Therapy Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 7.60 Billion |
| Estimated Value by 2031 | USD 38.34 Billion |
| Growth Rate | Poised to grow at a CAGR of 19% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Vector, Indication and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa |
| Report Highlights | Development of innovative gene therapies |
| Key Market Opportunities | Growing demand for cell and gene therapies |
| Key Market Drivers | Increasing prevalence of genetic disorders |
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Prominent Players in Gene Therapy Market
- Novartis International AG (Switzerland)
- Pfizer Inc. (US)
- Biogen Inc. (US)
- Spark Therapeutics Inc. (US)
- Sarepta Therapeutics Inc. (US)
- bluebird bio-Inc. (US)
- Gilead Sciences Inc. (US)
- Amgen Inc. (US)
- Regenxbio Inc. (US)
- Krystal Biotech Inc. (US)
- uniQure N.V. (Netherlands)
- Avexis Inc. (US)
- Orchard Therapeutics plc (UK)
- Abeona Therapeutics Inc. (US)
- Solid Biosciences Inc. (US)
- Audentes Therapeutics Inc. (US)
- Adaptimmune Therapeutics plc (UK)
- Intellia Therapeutics Inc. (US)
Retrovirus & Gamma Retrovirus Segment to Hold Significant Growth Due to Stably Integrate Therapeutic Genes into Host Genomes
The most common vector systems employed in gene therapy are retroviral and gamma-retroviral vectors, because they can preserve therapeutic genes in the host’s genome, allowing for long-term expression. This innovative application towards treating cancerous as well as hereditary diseases has resulted to advancements in gene therapy making them essential instruments.
Spinal Muscular Atrophy to Lead the Market Due to breakthroughs like FDA-Approved Zolgensma
Advances such as the FDA-approved Zolgensma, a one-time treatment that addresses the underlying genetic cause, have made spinal muscular atrophy (SMA) the market leader for gene therapy worldwide. Growth is fuelled by innovations in SMA gene therapies, which position SMA as a critical area of gene therapy advancements and offer life-changing benefits.
North America to Dominate the Market Due to Region being Identified as a lucrative region in the industry
During the projection period, the number of approvals and revenue generated by gene therapy are expected to make North America the largest routine manufacturer. The development of optimal therapy drugs is expected to spur additional market growth, with both large and small companies expected to increase their R&D investments.
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Gene Therapy Market Insight
Drivers:
- Increasing Prevalence of Genetic Disorders
- Rising Demand for Personalized Medicine
- Increasing Regulatory Approvals for Gene Therapy Products
Restraints:
- High Costs of Gene Therapy Products
- Short Shelf Life and Supply Chain
- Concern About Immune Responses
Key Questions Answered in Global Gene Therapy Market Report
- How much is the global gene therapy market expected to be worth in 2031, and what is the compound annual growth rate (CAGR) for this market from 2024 to 2031?
- Why do gamma- and retrovirus-based vectors dominate the world market for gene therapy?
- How is the global gene therapy market anticipated to be dominated by North America over the projected period?
This report provides the following insights:
- Analysis of key drivers (Increasing prevalence of genetic disorders, advancements in gene delivery technologies, growing investment in biotechnology & pharmaceuticals), restraints (Limited reimbursement coverage, uncertainty regarding the long-term safety & side effects, complex logistics & supply chain management), opportunities (Emerging applications in oncology, growing adoption of CRISPR technology, expansion into new therapeutic areas), and challenges (Immune reactions to gene therapies, high treatment costs & affordability) influencing the growth of gene therapy market.
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the gene therapy market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the gene therapy market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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