Gene Therapy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Gene Therapy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global gene therapy market size reached US$ 4.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.9 Billion by 2028, exhibiting a growth rate (CAGR) of 15.39% during 2023-2028. The growing prevalence of inherited diseases and acquired disorders; increasing construction of hospitals, clinics, and nursing homes; and rising popularity of new gene therapy that offers a safer, non-addictive alternative to opioids represent some of the key factors driving the market.

Rising Occurrence of Chronic Diseases Augmenting Market Growth

The increasing prevalence of various chronic diseases among the masses represents one of the key factors propelling the growth of the gene therapy market. Besides this, the occurrence of various chronic diseases, such as cardiovascular complications, diabetes, thyroiditis, and obesity, due to the adoption of unhealthy lifestyle patterns is contributing to the growth of the market. Moreover, rising cases of cancer among the masses, along with the growing demand for effective oncology treatment, is offering a favorable market outlook. Furthermore, the increasing occurrence of chronic lung diseases due to excessive smoking habits is bolstering the growth of the gene therapy market.

Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The structure of the gene therapy market is moderately fragmented due to the presence of a large number of global and regional players. The volume of new entrants in the market is moderate due to the requirement for high capital investments, stringent government policies, and the rate of product differentiation is low.

What is Gene Therapy?

Gene therapy is a technique for preventing disease progression by modifying the expression of mutated genes or altering the biological properties of living cells for therapeutic use. It comprises different products, such as viral vectors, bacterial vectors, plasmid deoxyribonucleic acid (DNA), human gene-editing technology, and patient-derived cellular gene therapy. It involves the introduction of a healthy gene into the genome of an individual to repair a mutation that is causing a genetic disorder. It consists of various therapies, such as ex vivo, in vivo, and in situ gene therapy. Gene therapy functions via gene inhibition, gene augmentation, and ultimately killing the disease-causing cells. It can cure certain diseases which no medications can prevent and has the potential to get rid of disease symptoms permanently. It also improves the ability of the body to fight against a wide variety of diseases, such as cancer, diabetes, hemophilia, cystic fibrosis, heart disease, and acquired immunodeficiency syndrome (AIDS). Furthermore, as gene therapy does not require multiple doses like other medications, its demand is increasing around the world.

COVID-19 Impact:

The outbreak of coronavirus severely disrupted the gene therapy market and affected the performance of various biopharmaceutical companies. Some gene therapy companies faced an immense number of complications due to their complicated manufacturing and delivery systems and funding models. The manufacture and delivery of treatment, research and clinical development, and commercial operations were negatively impacted by the pandemic, which resulted in a disruption in the growth of the gene therapy market. In addition, the supply chains that support the manufacturing and development of gene therapy products require controlled and complex settings. The supply chain was severely impacted by lockdowns and restrictions imposed on movement via roads. Furthermore, several companies reported delays or complete halts in operations due to the outbreak of COVID-19.

Gene Therapy Market Trends:

At present, the growing demand for gene therapy, as it is effective in curing various critical and life-threatening diseases, represents one of the primary factors influencing the market positively. Besides this, the rising prevalence of inherited diseases and acquired disorders among the masses is propelling the growth of the market. In addition, the increasing construction of hospitals, clinics, and nursing homes around the world to provide quality healthcare services to patients is contributing to the growth of the market. Apart from this, the rising popularity of new gene therapy that offers a safer and non-addictive alternative to opioids in treating a broad range of chronic pain conditions, such as lower back pain and rare neuropathic pain disorders, is offering a favorable market outlook.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global gene therapy market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on gene type, vector type, delivery method and application.

Gene Type Insights:

Antigen

Cytokine

Tumor Suppressor

Suicide Gene

Deficiency

Growth Factors

Receptors

Others

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

Vector Type Insights:

Viral Vector

Adenoviruses

Lentiviruses

Retroviruses

Adeno-Associated Virus

Herpes Simplex Virus

Poxvirus

Vaccinia Virus

Others

Non-Viral Techniques

Naked and Plasmid Vectors

Gene Gun

Electroporation

Lipofection

Others

A detailed breakup and analysis of the gene therapy market based on the vector type has also been provided in the report. This includes viral vector (adenoviruses, lentiviruses, retroviruses, adeno-associated virus, herpes simplex virus, poxvirus, vaccinia virus, and others) and non-viral techniques (naked and plasmid vectors, gene gun, electroporation, lipofection, and others). According to the report, viral vector (adenoviruses, lentiviruses, retroviruses, adeno-associated virus, herpes simplex virus, poxvirus, vaccinia virus, and others) accounted for the largest market share as it is highly efficient in mitigating the impacts of infectious diseases and viruses. In addition, the rising utilization of viral vectors as they are easy to handle and modify is propelling the growth of the respective segment.

Delivery Method Insights:

In-Vivo Gene Therapy

Ex-Vivo Gene Therapy

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

Application Insights:

Oncological Disorders

Rare Diseases

Cardiovascular Diseases

Neurological Disorders

Infectious Disease

Others

A detailed breakup and analysis of the gene therapy market based on the application has also been provided in the report. This includes oncological disorders, rare diseases, cardiovascular diseases, neurological disorders, infectious disease, and others. According to the report, oncological disorders accounted for the largest market share due to increasing occurrence of cancer among the masses. Apart from this, the rising employment of gene therapy in cancer treatment as it provides remarkable efficacy is bolstering the growth of the market.

Regional Insights:

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

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America (the United States and Canada) was the largest market for gene therapy. Some of the factors driving the North America gene therapy market included the rising awareness about the benefits of gene therapy in treating various chronic diseases and the increasing expenditure in research and development (R&D) activities to develop effective gene therapies is propelling the market growth. In addition, the growing construction of various healthcare facilities to provide quality treatment to patients is propelling the growth of the market.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global gene therapy market. Some of the companies covered in the report include:

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.

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report

1. What was the size of the global gene therapy market in 2022?

2. What is the expected growth rate of the global gene therapy market during 2023-2028?

3. What are the key factors driving the global gene therapy market?

4. What has been the impact of COVID-19 on the global gene therapy market?

5. What is the breakup of the global gene therapy market based on the vector type?

6. What is the breakup of the global gene therapy market based on the application?

7. What are the key regions in the global gene therapy market?

8. Who are the key players/companies in the global gene therapy market?