Dublin, Nov. 17, 2023 (GLOBE NEWSWIRE) -- The "Gene Therapy Market by Type (Gene silencing, Gene augmentation), Vector (Viral (Retroviral, AAV), Non-viral (Oligonucleotide)), Therapeutic Area (Neurology, Oncology), Delivery Method (In-vivo, Ex-vivo), RoA (Intravenous) & Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The gene therapy market is expected to reach USD 23.9 billion by 2028 from USD 9.0 billion in 2023, at a CAGR of 21.4%
This report offers a comprehensive overview of the gene therapy market, including an analysis of its size and potential for future growth across various segments such as type, indication, end user, and region. It also provides an in-depth competitive analysis of key market players, including their company profiles, recent developments, and strategic approaches.
The growth of the gene therapy market is driven by several key factors, including increasing initiatives in genomic research and a growing number of regulatory approvals for gene therapy products. Additionally, there is a rising demand for cell and gene therapies, presenting opportunities for market expansion.
North America currently holds the largest share of the gene therapy market, primarily due to factors like advanced healthcare infrastructure supporting gene therapies, easy access to advanced therapeutics, and a well-established healthcare system. The presence of key market players in the region also contributes to its dominant position. Notable companies in this market include Novartis AG (Switzerland), Biogen Inc. (US), Gilead Sciences, Inc. (US), Bristol-Myers Squibb (US), Alnylam Pharmaceuticals, Inc. (US), Sarepta Therapeutics, Inc. (US), among others.
Meanwhile, the gene therapy market in Europe is expected to grow at the highest compound annual growth rate (CAGR) during the forecast period. This growth can be attributed to factors such as increasing initiatives for advancing gene therapies, a rising prevalence of chronic diseases, and government support for the development of advanced targeted therapies.
The report provides a thorough evaluation of market shares, growth strategies, and product offerings of leading players like Novartis AG (Switzerland), Biogen Inc. (US), Gilead Sciences, Inc. (US), Bristol-Myers Squibb (US), Alnylam Pharmaceuticals, Inc. (US), Sarepta Therapeutics, Inc. (US), Amgen, Inc. (US), Orchard Therapeutics Plc (UK), F. Hoffmann-La Roche Ltd. (Switzerland), and others in the gene therapy market.
By therapeutic area, oncology segment accounted for the second largest share of the gene therapy market
Based on type, the gene therapy market is categorized into neurology, oncology, hepatology, and other therapeutic areas.. In 2022, oncology accounted for the highest growth rate owing to factors such as The rising demand for targeted therapies (including gene therapy) against cancer, increasing cancer prevalence are the major factors driving the growth of this segment.
By delivery method, the in vivo segment accounted for the largest share in the gene therapy market
Based on end user, the gene therapy market is segmented into the gene therapy market is segmented into in vivo and ex vivo. In 2022, the in vivo segment accounted for a largest share of the gene therapy market. Growth in this market segment can be attributed to availability of many in vivo gene therapy products commercially and focus of research and development on this delivery method.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 276 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $9 Billion |
| Forecasted Market Value (USD) by 2028 | $23.9 Billion |
| Compound Annual Growth Rate | 21.4% |
| Regions Covered | Global |
Premium Insights
- Increasing Investments in Gene Therapy Research to Drive Growth in Gene Therapy Market
- Neurology Accounted for Largest Share of North American Market in 2022
- Viral Vectors Segment to Dominate Market During Forecast Period
- Germany to Register Highest Growth During Forecast Period
Market Dynamics
Drivers
- Increasing Regulatory Approvals for Gene Therapy Products
- Increasing Investments in Gene Therapy Research
- Growing Technological Advancements
- Rising Prevalence of Genetic Disorders and Cancer
Restraints
- High Cost of Gene Therapy Products
Opportunities
- Rising Demand for Cell & Gene Therapies
- Increasing Focus on Precision Medicine
Challenges
- Complex Manufacturing Process
- Short Shelf Life and Supply Chain Challenges
Company Profiles
Key Players
- Novartis AG
- Biogen Inc.
- Gilead Sciences, Inc.
- Bristol-Myers Squibb
- Alnylam Pharmaceuticals, Inc.
- Sarepta Therapeutics, Inc.
- Amgen, Inc.
- Orchard Therapeutics plc
- F. Hoffmann-La Roche AG
- Jazz Pharmaceuticals plc
- Uniqure N.V.
- Johnson & Johnson
- Bluebird Bio, Inc.
- Biomarin Pharmaceutical Inc.
- Krystal Biotech, Inc.
- Shanghai Sunway Biotech Co. Ltd.
- Sibiono Genetech Co. Ltd.
Other Players
- Ferring B.V.
- Vertex Pharmaceuticals Incorporated
- Pfizer, Inc.
- Sangamo Therapeutics, Inc.
- Regenxbio
- Ultragenyx Pharmaceutical Inc.
- Meiragtx Holdings plc
- Anges, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/exmhmt
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