Global Gene Therapy Market Report and Forecast 2024-2032

Global Gene Therapy Market Outlook

The gene therapy market size attained a value of USD 7.81 billion in 2023. The market is anticipated to grow at a CAGR of 22.8% during the forecast period of 2024-2032 to attain a value of USD 49.60 billion by 2032. The growth of the market is driven by increased funding and investments.

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The gene therapy market share is growing, supported by the increasing competition among major firms concentrating on the commercialisation of gene therapies, as well as the expansion of the field of advanced therapeutics and gene delivery technologies. Investments in acquisitions, mergers, and expansions are major methods used by biotechnology companies to strengthen their product pipelines and increase knowledge.

Also, increased funding and investments are anticipated to open up profitable growth potential for market participants in gene therapy. Recent years have seen a significant increase in the gene therapy market mainly due to the rapid technological advances in cellular and molecular biology and genomics research.

The gene therapy market growth is anticipated to be boosted throughout the forecast period by a strong gene therapy pipeline. Researchers are working to make gene therapies accessible in clinics. A wide range of products can be seen in the pipeline at various universities and institutes, which is projected to increase revenue generation in the near future.

Increasing Applications of Viral Vectors in Gene Therapy for the Treatment of Chronic Diseases Driving the Market Growth

The increasing applications of viral vectors in gene therapy for the treatment of neurological, metabolic, and neurodegeneration diseases are driving the segment growth. According to the gene therapy market report, viral vectors offer various favourable properties such as safety, low-toxicity, and excellent stability, due to which they are increasingly preferred in gene therapy. As adenoviruses have excellent DNA harbouring capacity, they are one of the most extensively applied viral vectors in gene therapy. They are also used for the development of vaccines and cancer therapies, hence fuelling the growth of the gene therapy market.

As per the gene therapy market forecast, viral vectors account for a significant share in the clinical trials of gene therapy owing to their efficiency to deliver genes to the target tissues/cells. The increasing regulatory approvals of gene therapy drugs based on viral vectors are further propelling the market. Over the forecast period, the emergence of Adeno-associated virus vectors (AAV) as a gene therapy platform for the treatment of neurological diseases is likely to propel the growth of the gene therapy global market.

North America Accounts for a Significant Share in the Market for Gene Therapy

The gene therapy market in North America is being driven by the growing healthcare expenditure in the region and a strong foothold of major biopharmaceutical companies focused on advancing gene therapy techniques. According to the gene therapy market research, the growing prevalence of health issues such as cancer and cystic fibrosis in the region is further propelling the demand for gene therapy. In addition, the surging initiation of gene therapy clinical trials in the region to develop effective treatments for chronic diseases is augmenting the market. Moreover, the introduction of various favourable initiatives by various governments to encourage innovations and advancements in gene therapy is likely to propel the market expansion. The surging approval rates of new gene therapies by regulatory authorities to expand therapeutic treatment choices are expected to further aid the cell and gene therapy market growth in the forecast period.

Market Segmentation

Gene therapy is defined as a medical approach that targets the genetic problem of a patient in order to treat or prevent diseases. In this treatment therapy, a person’s genetic make-up is altered or modified instead of using drugs or surgery. Several mechanisms, including the replacement of disease-causing genes, inactivation of a disease-causing gene, and introduction of a modified gene into the body, among others, are involved in this process.

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Based on indication, the market can be segmented into:

• Neurological Disorder

• Oncological Disorders

• Rare Diseases

• Eye Disorders

• Others

By vector, the market is divided into:

• Non-Viral Vector

• Oligonucleotides

• Others

• Viral Vector

• Retroviral Vectors

• Adeno-associated Viral Vectors

• Others

The EMR report looks into the regional markets of gene therapy like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Emergence of Gene Therapy as a Promising Treatment Option for Various Diseases to Boost the Market Growth

The emergence of gene therapy techniques as a promising treatment option for various genetic diseases such as muscular dystrophy and cystic fibrosis, among others, is increasing the gene therapy market size. The emerging treatment modalities, such as immunotherapy and oncolytic virotherapy, are increasingly gaining traction in cancer treatments. In addition to this, the increasing prevalence of cancer, coupled with the robust research and development activities aimed at expanding cancer treatment options, is likely to accelerate the growth of the cancer gene therapy market in the coming years. As cancer treatment options based on gene therapy offer a high success rate and enhanced flexibility, the market is expected to witness a healthy growth.

According to the gene therapy market analysis, gene therapy offers possibilities of positive medical outcomes and can create permanent results, which is strengthening the market growth. Over the forecast period, the increasing approvals of various gene therapy medications by regulatory authorities like the Food and Drug Administration (FDA) of the United States are expected to bolster the gene therapies market growth. Moreover, the evolving patient preference toward minimally invasive treatment procedures for diseases like lymphoma and leukaemia, among others, is anticipated to propel the gene therapy market growth in the coming years.

Key Players in the Global Market for Gene Therapy

The report gives a detailed analysis of the following key players in the global gene therapy market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Novartis AG

• Amgen Inc.

• bluebird bio, Inc.

• Biogen Inc.

• Sibiono GeneTech Co. Ltd.

• Gilead Sciences, Inc.

• Sangamo Therapeutics, Inc.

• Intellia Therapeutics, Inc.

• REGENXBIO Inc.

• Abeona Therapeutics Inc.

• Orchard Therapeutics plc

• Sio Gene Therapies Ltd.

• Ultragenyx Pharmaceutical Inc.

• Krystal Biotech, Inc.

• Rocket Pharmaceuticals, Ltd.

• MeiraGTx Limited.

• Solid Biosciences Inc.

• GenSight Biologics S.A.

• Editas Medicine, Inc.

• CRISPR Therapeutics AG

• Spark Therapeutics, Inc.

• Genprex, Inc.

• Poseida Therapeutics, Inc.

• Astellas Pharma Inc.

• Voyager Therapeutics, Inc.

• Coave Therapeutics

• Precision BioSciences, Inc.

• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report