Gene Therapy Market Growth & Trends
The global gene therapy market is expected to reach USD 18.20 billion by 2030, registering a CAGR of 18.88% from 2024 to 2030, according to a new report by Grand View Research, Inc. The development of the market is owing to an increase in the number of gene therapy-based discoveries, increasing investment in this sector, and rising approval of gene therapy products. According to the WHO, 10 to 20 new cell and gene therapies are expected to be approved each year by 2025.
Continuous developments in recombinant DNA technology are anticipated to enhance the efficiency of gene therapy in the coming years. Hence, ongoing progresses in recombinant DNA technology are anticipated to expand the number of ongoing clinical trials for gene therapy. Primarily, these advancements are taking place in the context of various gene-editing tools and expression systems to augment the R&D for products. The advent of CRISPR/Cas9 nuclease, ZFN, and TALEN allows easy & precise genome editing. As a result, in recent times, the gene-editing space has witnessed a substantial number of research activities, which, in turn, is expected to influence the growth of the gene therapy market.
The growth of the gene therapy market is expected to be majorly benefitted from the increasing prevalence of cancer. The ongoing increase in cancer patients and related death per year emphasizes the essential for the development of robust treatment solutions. In 2020, there were around 18.1 million new cases of cancer worldwide. 9.3 million of these cases involved men, while 8.8 million involved women. Continuing developments in tumor genetic studies have delivered substantial information about cancer-related molecular signatures, which in turn, is expected to support ongoing clinical trials for cancer therapeutics.
With rising demand for robust disease treatment therapies, companies have focused their efforts to accelerate R&D for effective genetic therapies that target the cause of disease at a genomic level. . Furthermore, the U.S. FDA provides constant support for innovations in this sector via a number of policies with regard to product manufacturing. In January 2020, the agency released six final guidelines on the manufacturing and clinical development of safe and efficient products.
Furthermore, facility expansion for cell and gene therapies is one of the major factors driving the gene therapy market growth. Several in-house facilities and CDMOs for gene therapy manufacturing have begun investing to enhance their production capacity, which, in turn, is anticipated to create lucrative opportunities for market players. For instance, in April 2022, the FDA approved commercial licensure approval to Novartis for its Durham, N.C. site. This approval permits the 170,000 square-foot facility to make, test, and issue commercial Zolgensma, as well as manufacture therapy products for current & upcoming clinical trials.
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Gene Therapy Market Report Highlights
- The AAV segment shows a significant revenue contribution of 22% in 2023. Several biopharma companies are offering their viral vector platform for the development of AAV-based gene therapy product.
- By indication, the spinal muscular atrophy (SMA) segment dominated the market in 2023 with a share of 46.8%. Although SMA is a rare disorder, it is one of the most common fatal inherited diseases of infancy.
- The Beta-Thalassemia Major/SCD segment is anticipated to register the fastest CAGR of 38.3% over the forecast period. Gene therapy for SCD and β-thalassemia is based on transplantation of gene-modified hematopoietic stem cells.
- North America dominated the market in 2023 with the largest revenue share of 65.2% in 2023. This region is expected to become the largest routine manufacturer of gene therapy in terms of the number of approvals and revenue generated during the forecast period.
- Europe is estimated to be the fastest-growing regional segment from 2024 to 2030. This is attributed to its large population with unmet medical needs and increasing demand for novel technologies in the treatment of rare but increasingly prevalent diseases.
Access Press Release@ https://www.grandviewresearch.com/press-release/global-gene-therapy-market
Gene Therapy Market Segmentation
Grand View Research has segmented the global gene therapy market report based on indication, vector type, route of administration, and region:
Gene Therapy Indication Outlook (Revenue, USD Million, 2018 - 2030)
- Large B-Cell Lymphoma
- Multiple Myeloma
- Spinal Muscular Atrophy (SMA)
- Acute Lymphoblastic Leukemia (ALL)
- Melanoma (lesions)
- Inherited Retinal Disease
- Beta-Thalassemia Major/SCD
- Others
Gene Therapy Vector Type Outlook (Revenue, USD Million, 2018 - 2030)
- Lentivirus
- RetroVirus & gamma RetroVirus
- AAV
- Modified Herpes Simplex Virus
- Adenovirus
- Others
Gene Therapy Route of Administration Outlook (Revenue, USD Million, 2018 - 2030)
- Intravenous
- Others
Gene Therapy Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- US.
- Canada
- Mexico
- Europe
- UK
- Germany
- Switzerland
- Asia Pacific
- Japan
- China
- South Korea
- Australia
- Rest of the world
List of Key Players in the Gene Therapy Market
- Amgen Inc.
- Novartis AG
- Hoffmann-La Roche
- Gilead Sciences, Inc.
- bluebird bio, Inc.
- Bristol-Myers Squibb Company
- Legend Biotech.
- uniQure N.V.
- Merck & Co.
- Sarepta Therapeutics, Inc.
- Krystal Biotech, Inc.
- CRISPR Therapeutics
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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