IMARC Group, a leading market research company, has recently releases report titled “Gene Therapy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global gene therapy market report, share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Gene Therapy Market?
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.
What IS Gene Therapy?
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).
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What are the growth prospects and trends in the Gene Therapy Industry?
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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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Gene Type:
- Antigen
- Cytokine
- Tumor Suppressor
- Suicide Gene
- Deficiency
- Growth Factors
- Receptors
- Others
Breakup by Vector Type:
- Viral Vector
- Adenoviruses
- Lentiviruses
- Retroviruses
- Adeno-Associated Virus
- Herpes Simplex Virus
- Poxvirus
- Vaccinia Virus
- Others
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- Non-Viral Techniques
- Naked and Plasmid Vectors
- Gene Gun
- Electroporation
- Lipofection
- Others
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
- Others
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
Who are the key players operating in the industry?
The report covers the major market players including:
- 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.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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- Non-Viral Techniques