Gene Therapy Market (Type - Suicide Gene Therapy, Cancer Gene Therapy, Tumor Suppressor Gene Therapy, Cytokine Gene Therapy, Antigen Gene Therapy, and Others; Application - Neurological Diseases, Cardiovascular Diseases, Genetic Diseases, Infectious Diseases, Oncological Disorders, and Others; Vector Type - Non-viral Vectors, and Viral Vectors): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

A recent report published by Infinium Global Research on the gene therapy market provides in-depth analysis of segments and sub-segments in the global as well as regional gene therapy market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional gene therapy market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global gene therapy market. According to the report, the global gene therapy market is projected to grow at a CAGR of about 24% over the forecast period of 2022-2028.

Market Insight

The global gene therapy market was valued at USD 5.6 Billion in 2022 and is expected to reach USD 20 Billion in 2028, with a CAGR of about 24% during the forecast period. Gene therapy is a form of therapy that inserts a gene into an individual’s cells and tissues to treat genetic diseases or replace abnormal genes with correct genes to treat other diseases. Gene therapy inserts a working gene into a person who has a damaged gene. Gene therapy works by repressing, replacing, or repairing defective genes that cause disease with the purpose of regenerating normal function. Further, when a cell does not work properly or is absent, a genetically planned gene is introduced into the cell. For proper functioning of the cell, the gene needs to be inserted correctly into the targeted cell to avoid causing any adverse effects.

Innovation in gene therapy for rare & cardiovascular disease treatment is growing and increasing awareness regarding the ability of gene therapy to cure diseases drives the growth of the gene therapy market. Further, several benefits such as the ability to replace defective cells help in eliminating diseases and the significant therapeutic potential offered by gene therapy is boosting the growth of this market. The rising occurrence of cancer and increasing government support for gene therapy in cancer treatment can further fuel the demand for the gene therapy market. Gene therapy has substantial potential to eradicate and counter several genetic illnesses and frequent life-threatening disorders, such as AIDS, cancer, Parkinson’s disease, heart diseases, age-related disorders, and cystic fibrosis. Moreover, the upsurge in the number of gene therapy treatment centers in developed countries and the increasing adoption of gene therapy for Oncological disorders have expected to create lucrative growth opportunities for this market. On the contrary, the high cost associated with gene therapies and the potential to give rise to other disorders is likely to restrain the growth of the gene therapy market. However, the High cost of therapy treatment will restrain the market growth during the forecast period.  

The COVID-19 pandemic caused widespread economic downturns within the global economy as several countries imposed strict lockdowns to manage the spread of infection. The novel coronavirus epidemic severely affected various industries. The global gene therapy market experienced notable mixed growth during this period. The high growth of the market is owing to the use of gene therapy in scientific research, thereby contributing to revenue growth. Moreover, increasing utilization of Antigen therapy to treat severe patients during the covid-19 pandemic enhanced the demand of the market. However, the lockdown imposed by various countries interrupted the supply chain and logistics of the raw material. The major factor affecting the growth of the gene therapy market was the unavailability of the workforce during the pandemic within the forecast period.

Based on the region, the worldwide gene therapy market is segmented into the Asia Pacific, North America, Europe, and also the Middle East & Africa. Among the regions, North America is the largest region in the gene therapy market. The growth in the North American region is mainly attributed owing to the growing number of gene-therapy, clinical trials. It is estimated that approximately 1846, gene therapy clinical trials are done in the North American region. Factors such as a rise in disposable income, increasing incidents of cancer, and increasing investment in R&D activities are driving the growth of the gene therapy market in the North American region. The rise in genetic disorders, life-threatening disorders, especially cancer, heart diseases, AIDS, cystic fibrosis, and age-related disorders are likely to augment the growth of the Europe region. The growing demand for Gene therapy clinical trials and clinical research, the recent approval of gene therapies, and high cases of cancer in Japan have a positive impact on market growth.

Segment Covered

The report on the global gene therapy market covers segments such as type, application, and vector type. On the basis of type, the sub-markets include suicide gene therapy, cancer gene therapy, tumor suppressor gene therapy, cytokine gene therapy, antigen gene therapy, and others. On the basis of application, the sub-markets include neurological diseases, cardiovascular diseases, genetic diseases, infectious diseases, oncological disorders, and others. On the basis of vector type, the sub-markets include non-viral vectors and viral vectors.

Companies Profiled:

The report provides profiles of the companies in the market such as Novartis AG, Gilead Sciences, Inc., Spark Therapeutics, Inc., Amgen Inc., Biogen Inc., Pfizer Inc., Regeneron Pharmaceuticals, Sanofi SA., Abeona Therapeutics, Inc., and Merck & Co., Inc.

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the gene therapy market. Moreover, the study highlights current market trends and provides forecast from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.