Gene Therapy Market Statistics, Growth Factors | Forecast - 2028

Global Gene Therapy Market Expected to Reach $ 15594.00 Million by 2028 | Business Intelligence Insights (BII)

Publisher Name : Business Intelligence Insights (BII) Publish Date : 2022-01-04

Market Scope of Gene Therapy Market

The global Gene Therapy market was valued USD 4029.50 million in 2021 and is predicted to increase at a CAGR of 25.30 % to USD 15594.00 million by 2028. The Gene Therapy Market is growing due to an increase in the frequency of chronic illnesses such as cancer, rare disease genetic disorders, and others. Furthermore, the market's expansion is aided by greater government support, ethical acceptance of gene therapy for cancer treatment, and an increase in cancer prevalence. An growth in healthcare expenditure, the creation of improved healthcare infrastructure, and the availability of reimbursements all contribute to the Gene Therapy Market Opportunity. However, the high cost of gene therapy is projected to impede market expansion during the forecast period. The increased use of gene modification in a variety of treatments, as well as the increasing use of genome editing in biotechnology applications, are anticipated to influence the gene therapy sector in the next years. The global gene therapy industry is expected to be stymied by high gene therapy prices and a lack of standardisation.

A gene is a living, working unit of life that includes instructions for carrying out a certain function. Gene therapy is a cutting-edge treatment for cancer, chronic disease, infectious disease, and blood problems. Doctors utilise gene therapy to replace defective genes in a patient's body with healthy ones in order to treat or prevent disease progression.

Key Highlights of the Report

• The nonviral sector led the Gene Therapy market in 2021. The market share was greater than 50%. The non-viral vector category dominates the Gene Therapy Market and is predicted to grow at the quickest rate throughout the forecast period. The rising incidence of cancer and other target diseases, as well as the availability of reimbursement policies and increased funding for gene therapy research, are projected to propel market growth in the coming years.

• Oncological Disorders, Rare Diseases, Neurological Disorders, and Other Diseases are some of the areas where Gene Therapy can be used. Oncology illnesses are the most common application in the global Gene Therapy sector. This particular market has a market share of more than 20%. The expanding cancer burden, increased emphasis on research to develop effective cancer treatments, and rising cancer research investments are all contributing to the segment's growth. According to Globocan 2020, there will be 19,292,789 new cancer cases and 9,958,133 cancer deaths worldwide year 2020. Many gene therapy options are now being used in cancer treatment. Only a few of the options include anti-angiogenic gene therapy, pro-drug activating suicide gene therapy, immunological modulation based on gene therapy, oncolytic virotherapy, gene defect correction/compensation, antisense, genetic manipulation of apoptotic and tumor invasion pathways, and RNAi techniques. These drugs have been used to treat lung, brain, breast, pancreas, liver, colorectal, prostate, bladder, head and neck, skin, renal, and ovarian malignancies

• With a revenue share of more than 56 percent in 2022, the North American regional market will dominate the industry and increase at the fastest CAGR throughout the projected years. Several government organizations have invested in the region because of a strong regulatory environment for promoting the development of cellular treatments, as well as the presence of a large number of biopharma companies. As a result, the area economy is growing. The presence of gene therapy research and development centers and universities in North America is expected to boost the industry. Furthermore, rising chronic disease incidence, rising healthcare spending, the availability of reimbursements, and the presence of contemporary healthcare infrastructure are all major drivers of market expansion.

• The report contains qualitative and quantitative research on the global Gene Therapy Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.

List of Key Players in the Global Gene Therapy Market:

• Novartis AG

• Gilead Sciences.

• Jazz Pharmaceuticals

• Orchard Therapeutics.

• Bristol-Myers Squibb.

• Amgen Inc.

• Shenzhen SiBiono Genentech

• Shanghai Sunway Biotech Co., Ltd.

• Adaptimmune Therapeutics plc

• Adverum Biotechnologies, Inc

• Abeona Therapeutics Inc.