The latest research study “Gene Therapy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global gene therapy market reached a value of US$ 3.77 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 9.5 Billion by 2027 exhibiting a CAGR of 15.60% during 2022-2027.
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Gene therapy is a technique of preventing and treating a disease by modifying the expression of mutated genes or altering the biological properties of living cells. It replaces the disease-causing gene or adds a new gene to cure disease and improve the body’s ability to fight against various diseases. At present, various gene therapy products, such as viral vectors, bacterial vectors, and patient-derived cellular gene therapies, are used to treat numerous diseases, including cancer, diabetes, hemophilia, cystic fibrosis, heart disease, and acquired immunodeficiency syndrome (AIDS).
COVID-19Impact on Market: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Gene Therapy Market Trends and Drivers:
The market is primarily driven by the growing prevalence of inherited diseases and acquired disorders. In addition, the rising incidences of genetic disorders, such as muscular dystrophy and cystic fibrosis, in children and young adults represent another major growth-inducing factor.
Besides this, scientists and researchers are developing new gene therapies to treat a broad range of chronic pain conditions, such as lower back pain and rare neuropathic pain disorders. This, coupled with the introduction of favorable government initiatives to develop effective gene therapies to treat cancer, is positively influencing the market growth.
For instance, in March 2021, the United States Food and Drug Administration (FDA) approved Abecma, a cell-based gene therapy to treat patients with multiple myeloma. Moreover, the leading market players are engaging in mergers and acquisitions (M&As) and partnerships to strengthen their foothold in the market, which is also creating a favorable market outlook across the globe.
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|Gene Therapy Market Report Scope|
|Market size value in 2021||US$ 3.77 Billion|
|Market forecast in 2027||US$ 9.5 Billion|
|Growth Rate||CAGR of 15.60% from 2022 to 2027|
|Base year for estimation||2021|
Global Gene Therapy Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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. and Voyager Therapeutics Inc.
The report has segmented the market on the basis of region, gene type, vector type, delivery method and application
Breakup by Gene Type:
- Tumor Suppressor
- Suicide Gene
- Growth Factors
Breakup by Vector Type:
- Viral Vector
- Adeno-Associated Virus
- Herpes Simplex Virus
- Vaccinia Virus
- Non-Viral Techniques
- Naked and Plasmid Vectors
- Gene Gun
Market Breakup by Delivery Method:
- In-Vivo Gene Therapy
- Ex-Vivo Gene Therapy
Breakup by Application:
- Oncological Disorders
- Rare Diseases
- Cardiovascular Diseases
- Neurological Disorders
- Infectious Disease
Breakup 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
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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