Selbyville, Delaware, Aug. 07, 2023 (GLOBE NEWSWIRE) --
Gene Therapy Market size is expected to be worth USD 44.5 billion by 2032. The growing adoption of personalized medicine is generating lucrative opportunities for market growth. Precision medicine emphasizes the identification of genetic factors underlying diseases and the development of targeted therapies. Gene therapy aligns with this approach by addressing the root cause of genetic disorders at the molecular level. It offers the potential to modify or replace faulty genes directly, enabling personalized treatment strategies tailored to the specific genetic profile of an individual. The ample benefits associated with gene therapy will favor its adoption.
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Surging incidence of monogenic diseases to bolster the need for viral vectors
The gene therapy market share from the viral vectors segment will expand notably through 2032. Increasing prevalence of monogenic disorders such as cystic fibrosis, sickle cell anemia, and others has increased the demand for viral vectors in gene therapy. As per the American Lung Association, there are around 70,000 people with cystic fibrosis globally. Viral vectors can deliver functional copies of the defective gene into target cells to replace or correct the faulty gene.
This approach is particularly effective for monogenic diseases where the absence or dysfunction of a specific protein is the underlying cause, resulting in increased product uptake.
Advancements in ex vivo gene therapy to bring high revenue
The ex vivo gene therapy market share will grow at a decent CAGR from 2023 to 2032. Development of highly efficient and precise genome editing tools has revolutionized ex vivo gene therapy. These tools enable scientists to edit specific genes accurately, opening up new possibilities for treating genetic disorders. Gene editing techniques have enhanced the potential for targeted and customizable modifications in ex vivo gene therapy.
Growing prevalence of neurological diseases to increase demand for gene therapy
The gene therapy market value from the neurological diseases segment will grow substantially through 2032. Rising prevalence of neurological disorders such as Alzheimer’s disease, Parkinson’s disease, and others has increased the demand for gene therapy. As per the Parkinson’s Foundation, Parkinson’s disease affects around 90,000 people every year in the U.S. alone. Moreover, rapid advancements in targeted gene therapy have created ample opportunities for the treatment of these disorders.
Asia Pacific to capture a decent market share
Asia Pacific gene therapy market will register considerable gains through 2032. High incidence rate of cancer has increased the demand for gene therapy in the region. According to the Journal of Thoracic Oncology, lung cancer makes up around 8.1% of all cancer-related mortalities in India. Moreover, the flourishing healthcare sector, coupled with rising awareness about cancer, is further positively affecting the industry outlook. Prominent players in the region, such as Shanghai Sunway Biotech Co. Ltd and others, are focusing on product innovations, which may bolster product demand in the long run.
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Gene Therapy Market Players
F. Hoffmann-La Roche Ltd, Shanghai Sunway Biotech Co., Ltd., Novartis AG, Gilead Lifesciences, Inc., Sibiono GeneTech Co., Ltd, Orchard Therapeutics, and BENITEC BIOPHARMA, among others
Gene Therapy Market News:
- In December 2021, Novartis AG, a Swiss multinational pharmaceutical company, announced its intent to acquire Gyroscope Therapeutics, a UK-based ocular gene therapy company. This acquisition will add a one-time gene therapy to its portfolio to transform the treatment of geographic atrophy.
Partial Table of Contents (ToC) of the report:
Chapter 3 Gene Therapy Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Rising investments in research and development for gene therapy
3.2.1.2 Increasing number of product approval and launches
3.2.1.3 Technological advancements in gene therapy
3.2.1.4 Growing prevalence of cancer, genetic and rare diseases
3.2.1.5 Increasing adoption of personalized medicine
3.2.2 Industry pitfalls & challenges
3.2.2.1 High costs of gene therapy treatment
3.2.2.2 Lack of standard regulations
3.3 Growth potential analysis
3.3.1 By vector
3.3.2 By delivery method
3.3.3 By gene type
3.3.4 By indication
3.4 COVID- 19 impact analysis
3.5 Clinical trial data analysis
3.6 Porter's analysis
3.7 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company matrix analysis, 2022
4.3 Competitive analysis of major market players, 2022
4.4 Competitive positioning matrix, 2022
4.5 Strategy dashboard, 2022
4.6 Strategic outlook matrix, 2022
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