Global Gene Therapy Market is expected to reach the market valuation of US$ 20.9 billion by 2027 expanding at a reasonable CAGR of 29.7% during the forecast period (2021-2027) from US$ 3.5 billion in 2019. Gene therapy is the next trend of therapeutic modernization in the life sciences industry. These therapy approaches could help the enormous preponderance of newborns with different diseases.
The various factors driving the gene therapy market include the rising incidence of cancer and other diseases, the growing gene therapy pipeline, and increasing funding for gene therapy research. However, high costs associated with gene therapies and few reimbursement challenges are expected to hinder the growth of the gene therapy market. National Cancer Institute estimates 1,806,590 new cases of cancer to be diagnosed in the United States and 606,520 people would die from the disease.
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The manufacture and delivery of treatments, research and clinical development, and commercial operations are the three areas within the gene therapy sector that have been most interrupted amid the COVID-19 crisis. The development of gene therapies has been less affected. The pandemic also has disrupted worldwide management efforts around gene therapies. For instance, Peter Marks, Director of FDA’s Center for Biologics Evaluation and Research (CBER) stated that with the influx of applications for cell and gene therapies over the last five years, it should have doubled in size while it is only modestly larger, 15-20% larger in size.
Based on vectors, the market is fragmented into viral and non-viral vectors. The viral vector segment dominated the market in 2019 accounting for 88.6% and is anticipated to maintain its dominance during the forecast period owing to the substantial advances in vector manufacturing, distribution, and security. Furthermore, the viral vector market is mainly bifurcated into the lentivirus, adeno-associated virus, retrovirus & gammaretrovirus, modified herpes simplex virus, and adenovirus.
For a detailed analysis of the vectors in gene therapy browse through - https://univdatos.com/report/global-gene-therapy-market-current-analysis-and-forecast-2020-2027
Based on gene type, the market is mainly fragmented into antigen, cytokine, tumor suppressor, suicide, deficiency, receptor, and others. The antigen segment dominated the market and accounted for 19.2% in 2019 and is anticipated to maintain its dominance during the analyzed period. The gene therapy holds potential for treating various indications including oncology, rare diseases, cardiovascular, neurology, infectious and others. The oncology segment dominated the market and generated revenue of US$ 1.7 billion in 2019 owing to the increasing number of cancer cases. Cancer is the second leading cause of death worldwide, accounting for an estimated 9.6 million deaths, or 1 in 6 deaths, in 2018.
The gene therapy is delivered through two methods including in-vivo and ex-vivo. The ex-vivo segment is expected to grow at the highest CAGR of 35.56% during the forecast period owing to the benefit of expression of the gene and health of the transfected cells that can be verified before it is introduced to the patient.
Additionally, the report provides detailed initiatives that are being taken in the field of gene therapy. The market is classified into distinct regions including North America (the U.S and Canada), Europe (Germany, France, Spain, Italy, and United Kingdom), Asia-Pacific (China, Japan, Australia, South Korea, and Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of US$ 1.7 billion in 2019 owing to the high prevalence rate of cancer, presence of high disposable income, and increase in funding for R&D activities related to gene therapy.
Biogen, BioMarin Pharmaceuticals, bluebird bio, Bristol Myers Squibb, Gilead Sciences, Novartis, Orchard Therapeutics, Regenxbio, Spark Theraputics, and uniQure are some of the prominent players operating in the global gene therapy market. Several M&A’s along with partnerships have been undertaken by these players to develop gene therapy.
Global Gene Therapy Market Segmentation
Market Insight, by Vector
Market Insight, by Gene Type
Market Insight, by Indication
Market Insight, by Delivery Method
Market Insight, by Region
Top Company Profiles
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