Gene Therapy Market Report 2024-2032

The increasing incidence of genetic disorders and rare diseases is propelling the growth of the market.

SHERIDAN, WYOMING, USA, February 5, 2024 /EINPresswire.com/ -- IMARC Group's report titled "Gene Therapy Market Report by Gene Type (Antigen, Cytokine, Tumor Suppressor, Suicide Gene, Deficiency, Growth Factors, Receptors, and Others), Vector Type (Viral Vector, Non-Viral Techniques), Delivery Method (In-Vivo Gene Therapy, Ex-Vivo Gene Therapy), Application (Oncological Disorders, Rare Diseases, Cardiovascular Diseases, Neurological Disorders, Infectious Disease, and Others), and Region 2024-2032". The study provides a detailed analysis of the industry, including the global gene therapy market size, share, trends, and growth forecast.

What is the market for gene therapy?

The global gene therapy market size reached US$ 5.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 16.8 Billion by 2032, exhibiting a growth rate (CAGR) of 13.9% during 2024-2032.

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Factors Affecting the Growth of the Global Gene Therapy Industry:

• Increasing Prevalence of Genetic Diseases:

The rising prevalence of genetic diseases is a significant factor fueling the market. Genetic disorders affect millions of individuals worldwide, and many of these conditions have limited or no effective treatments. Gene therapy offers a promising solution by addressing the root causes of these diseases at the genetic level. As awareness of gene therapy's potential spreads, patients and healthcare providers are increasingly seeking these innovative treatments, driving the demand for gene therapy products and therapies. The need to address the unmet medical needs of individuals with genetic diseases is a compelling force behind the growth of the market.

• Technological Advancements:

One of the primary driving factors in the market is the significant progress in genetic research and technology. As our understanding of the human genome deepens, researchers can identify and target specific genes responsible for various diseases and genetic disorders. The development of sophisticated gene editing techniques like CRISPR-Cas9 has revolutionized the field, allowing for precise and efficient gene modifications. These advances have expanded the possibilities for gene therapy, enabling the development of innovative treatments for a wide range of genetic conditions.

• Regulatory Support and Investment:

Gene therapy has gained substantial support from both private and public sectors, contributing to its market growth. Pharmaceutical companies, biotechnology firms, and research institutions are investing heavily in gene therapy research and development. Additionally, regulatory bodies like the US Food and Drug Administration (FDA) and the European Medicines Agency (EMA) have implemented expedited approval processes and provided guidance for gene therapy product development, facilitating market entry. This combination of financial investments and regulatory support has accelerated the translation of promising gene therapies from the lab to the clinic, making them more accessible to patients and contributing to the expansion of the market.

Leading Companies Operating in the Global Gene Therapy Industry:

• Abeona Therapeutics Inc.
• Adaptimmune Therapeutics plc
• Adverum Biotechnologies Inc.
• Amgen Inc.
• Astellas Pharma Inc.
• Biogen Inc.
• Bluebird Bio Inc.
• Mustang Bio Inc. (Fortress Biotech Inc.)
• Novartis AG
• Orchard Therapeutics plc
• UniQure N.V.
• Voyager Therapeutics Inc.

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Gene Therapy Market Trends:

Advancements in gene editing technologies, such as CRISPR-Cas9, are revolutionizing the gene therapy landscape. These technologies offer more precise and efficient methods for gene modification, expanding the potential applications of gene therapy. Besides, gene therapy is extending beyond monogenic disorders to treat complex diseases like neurodegenerative conditions, cardiovascular diseases, and infectious diseases.

This broadening of target indications is diversifying the market. Moreover, regulatory agencies are streamlining approval processes for gene therapy products, recognizing their potential to address unmet medical needs. Fast-track designations and accelerated approvals are facilitating market entry for gene therapies.

Gene Therapy Market Report Segmentation:

By Gene Type:

• Antigen
• Cytokine
• Tumor Suppressor
• Suicide Gene
• Deficiency
• Growth Factors
• Receptors
• Others

The report has provided a detailed breakup and analysis of the market based on the gene type. This includes antigen, cytokine, tumor suppressor, suicide gene, deficiency, growth factors, receptors, and others.

By Vector Type:

• Viral Vector
o Adenoviruses
o Lentiviruses
o Retroviruses
o Adeno-Associated Virus
o Herpes Simplex Virus
o Poxvirus
o Vaccinia Virus
o Others
• Non-Viral Techniques
o Naked and Plasmid Vectors
o Gene Gun
o Electroporation
o Lipofection
o Others

Viral vector accounted for the largest market share due to their efficient delivery of therapeutic genes into target cells.

By Delivery Method:

• In-Vivo Gene Therapy
• Ex-Vivo Gene Therapy

The report has provided a detailed breakup and analysis of the market based on the delivery method. This includes in-vivo gene therapy and ex-vivo gene therapy.

By Application:

• Oncological Disorders
• Rare Diseases
• Cardiovascular Diseases
• Neurological Disorders
• Infectious Disease
• Others

Oncological disorders represented the largest segment as gene therapy is effective in the treatment of various cancers.

By Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

North America leads the market due to robust healthcare infrastructure and a well-established biotechnology industry.

Key Highlights of the Report:

Market Performance (2018-2023)
Market Outlook (2024-2032)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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