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Gene Therapy Market size is estimated to grow by USD 4,613.9 million between 2022 and 2027 accelerating at a CAGR of 19.91% during the forecast period.
The growth of the market depends on several factors, including the increase in special drug designations, the benefits associated, and the increasing prevalence of chronic diseases. Factors such as high treatment costs may hinder the demand of the market. However, market trends such as research in gene therapy for CVDs and orphan diseases and rapid demand potential in developing economies will propel the market growth.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increase in special drug designations is one of the key drivers supporting the market growth. Most of the programs received designations such as orphan drug designation, fast track designation, and breakthrough designation from the US FDA, the EMA, and other regulatory bodies, for the treatment of certain disorders. These designations provide certain benefits to pharmaceutical companies.
For instance, orphan drug designation is given to the drugs that are being developed to treat rare diseases that affect less than 200,000 people in the US. When a drug receives orphan drug designation, the company receives market exclusivity for ten years instead of seven years. Orphan drug status also helps the company with tax benefits in the next research by the company. Such benefits of special drug designations will drive the market during the forecast period.
Growing research in gene therapy for CVDs and orphan diseases is one of the key market trends that is contributing to the market growth. Various research organizations and institutes play a significant role in the market. The market is witnessing continuous change owing to mergers and acquisitions (M&A). Small companies and research institutes have collaborations and partnerships with the giant leaders of the pharmaceutical industry. This further helps the market leaders to expand their area of research and product portfolio.
On the other hand, it proves to be a big financial support for small and new companies. Some of the major collaborations in the market are the collaboration between Celgene and Bluebird Bio and Adapt Immune and GlaxoSmithKline. Such growing research will boost the market during the forecast period.
High treatment costs is one of the factors hindering the market growth. The cost of gene therapies is in the range of USD 300,000- USD 1,200,000. It works differently on various individuals, and unlike other biological molecules and small molecules, it needs to be tailored for each individual separately. The mutated gene in the cell is extracted from the patient and is modified in the laboratory. The modified stem cells are introduced into the patient using a viral vector administered through the intravenous route. This increases the cost of manufacturing, thus increasing the overall cost. Such increasing costs will be a challenging factor for the demand of the market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Abeona Therapeutics Inc.: The company offers Phase 3 VIITAL Clinical Trial of EB 101. Also, under this segment, the company offers solutions to treat diseases including cancer, genetic diseases, and infectious diseases.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the oncology segment will be significant during the forecast period. In this segment, owing to the high success rate of treatment, many companies are focusing on developing novel gene therapies. For instance, Novartis received approval from the US FDA to launch Kymriah (tisagenlecleucel) for the treatment of B-cell precursor acute lymphoblastic leukemia. Kymriah is a CAR T-cell-based gene therapy. It showed positive results in clinical trials in humans. The global market by oncology is expected to increase the demand during the forecast period owing to the entry of new therapies into the market globally.
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The oncology segment was valued at USD 694.96 million in 2017 and continue to grow by 2021. The global oncology drugs market has a huge unmet demand for the treatment of various indications. Also, the increasing prevalence of cancer indications led pharmaceutical companies and research organizations to conduct substantial research on the development of drugs for these indications. The lack of efficacy of the small molecules and biological molecules made the companies move toward effective treatment options. Several approaches were developed for the management of cancer, including anti-angiogenic gene therapy, suicide gene therapy, immunotherapy, siRNA therapy, pro-apoptotic gene therapy, oncolytic virotherapy, and gene-directed enzyme pro-drug therapy..
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North America is estimated to contribute 39% to the growth of the global market share during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The US has become a lucrative market for investments in the market in North America. This is because of the funding provided by government departments such as the National Institutes of Health (NIH) and the Biomedical Advanced Research and Development Authority (BARDA) to small-scale industries and companies that are focusing on developing novel products. The increasing funds from government and private organizations will foster the development of gene therapies during the forecast period. Due to the funding, about 18 clinical trials and 17 startup biotechnology companies are being set up in the country. Therefore, such funding is expected to contribute to the market demand during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the market growth and trends opportunities from 2017 to 2027.
The Market is rapidly advancing, driven by innovations in biomedicine, genetic engineering, and the development of novel therapies for various genetic disorders. They hold promise for treating conditions like Beta thalassemia, Duchenne muscular dystrophy, and spinal muscular atrophy by targeting specific genes and correcting genetic abnormalities.
CRISPR/Cas9 and lentivirus vectors are gene editing technologies. These technologies are used to deliver therapeutic genes to target cells, addressing issues like muscle atrophy, neurodegenerative diseases, and blood abnormalities. Despite regulatory challenges, the market is poised for growth, fueled by venture capital financing and partnerships with organizations like the National Institute of Standards and Technology and the United States Department of Commerce. With advancements in gene delivery and expression, gene therapy is becoming a viable treatment option for a wide range of genetic disorders, offering new hope for patients and families affected by these conditions.
Gene Therapy Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 19.91% |
Market growth 2023-2027 |
USD 4,613.9 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
16.76 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 39% |
Key countries |
US, Canada, UK, China, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abeona Therapeutics Inc., Adaptimmune Therapeutics plc, Adverum Biotechnologies Inc., Amgen Inc., Astellas Pharma Inc., Biogen Inc., bluebird bio Inc., Editas Medicine Inc., ElevateBio, F. Hoffmann La Roche Ltd., Generation Bio Co., Gilead Sciences Inc., Novartis AG, Orchard Therapeutics Plc, Poseida Therapeutics Inc., Sangamo Therapeutics Inc., Sibiono GeneTech Co. Ltd., Syncona Ltd., uniQure NV, and Voyager Therapeutics Inc. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our market research report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Therapy Area
7 Market Segmentation by Delivery Mode
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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