PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1401805
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1401805
Gene Therapy Market size was valued at USD 8,300 Million in 2022, expanding at a CAGR of 22.3% from 2023 to 2030.
Gene therapy is a technique that modifies a person's genes to treat or cure disease. Currently, gene therapies are being utilized to address specific conditions such as Leber congenital amaurosis, an eye disorder, and spinal muscular atrophy, a muscle disorder. However, extensive research is being conducted to ensure the safety and efficacy of numerous other gene therapies. Additionally, genome editing, a promising technique currently under investigation, holds the potential to treat various disorders in the near future. It is important to note that gene therapy products are regulated by the FDA's Center for Biologics Evaluation and Research (CBER) as they are considered biological products. Another innovative technique known as genome editing, exemplified by CRISPR-Cas9, takes a different approach by utilizing molecular tools to modify the existing DNA within cells, rather than introducing new genetic material.
Gene Therapy Market- Market Dynamics
Increase in the prevalence of chronic disorders such as cancer, rare disease genetic disorders, and others globally anticipated to drive the Gene Therapy market growth.
Gene therapy presents a promising strategy for combating cancer by specifically targeting the underlying genetic abnormalities responsible for its progression. According to the World Health Organization, there were approximately 18.1 million cancer cases worldwide in 2020, with 9.3 million affecting men and 8.8 million affecting women. While gene therapies primarily focus on addressing rare genetic disorders that lack effective traditional treatment options, the National Center for Biotechnology Information estimates that each year, 495,000 infants are born with congenital malformations, 390,000 with G6PD deficiency, 21,400 with Down syndrome, 9,000 with beta-thalassemia, 5,200 with sickle cell disease, and 9,760 with amino acid disorders. By tailoring treatment to an individual's specific genetic profile, gene therapy enables a more personalized approach to healthcare. Moreover, increased investment and funding in gene therapy research and development can create opportunities for market growth. However, the substantial cost associated with gene therapies presents challenges in terms of reimbursement and accessibility.
Gene Therapy Market- Key Insights
As per the analysis shared by our research analyst, the global Gene Therapy market is estimated to grow annually at a CAGR of around 22.3% over the forecast period (2023-2030)
Based on Vector Type segmentation, Non-viral vectors was predicted to show maximum market share in the year 2022
Based on Gene Type segmentation, Antigen was the leading type in 2022
Based on Therapy segmentation, In Vivo Therapy was the leading type in 2022
Based on Application segmentation, Oncological Disorders was the leading type in 2022
On the basis of region, North America was the leading revenue generator in 2022
The Global Gene Therapy Market is segmented based on Vector Type, Gene Type, Therapy, Application, and Region.
The market is divided into three categories based on Vector Type: Viral Vector and Non-Viral Vector. The market is primarily dominated by Non-Viral Vectors. Generally, Non-viral vectors exhibit a superior safety profile compared to viral vectors, thereby minimizing the chances of immune responses or unintended side effects. Moreover, Non-viral vectors possess the capability to accommodate larger DNA payloads, enabling the delivery of more extensive genetic material.
The market is divided into two categories based on Gene Type: Antigen, Cytokine, Tumor Suppressor, Suicide, Deficiency, Growth factors, Receptors and Others. The antigen segment dominates the market. Gene therapy plays a significant role in enhancing the immune system's ability to recognize and attack specific antigens associated with diseases.
The market is divided into three categories based on Therapy: In Vivo Therapy and Ex Vivo Therapy. In Vivo Therapy dominates the market. In Vivo Therapy holds a significant position in the market. Researchers are actively investigating in vivo gene therapy for various diseases, such as genetic disorders, specific forms of cancer, and other medical conditions. The aim is to modify the patient's genetic material to offer therapeutic advantages.
The market is divided into three categories based on Application: Oncological Disorders, Rare Diseases, Neurological Disorders and Other Diseases. The market is primarily dominated by the Oncological Disorders segment. Several gene therapies targeting oncological disorders are currently undergoing clinical trials at different stages. Certain therapies have obtained regulatory approvals for specific indications, whereas others are still in the investigational phases.
Gene Therapy Market- Geographical Insights
Geographically, this market is widespread across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided based on the countries involved in the business. The North American region is expected to dominate the market's growth due to its highly advanced hospital infrastructure and the increasing demand for cell and gene therapy. North America boasts a robust healthcare ecosystem characterized by collaborations between academia, industry, and healthcare providers. This collaborative environment fosters innovation and expedites the translation of scientific discoveries into clinical applications. According to the American Hospital Association Information Technology, in 2018, 98.3% of hospitals had adopted Electronic Health Records (EHRs), with no differences based on Critical Access Hospital (CAH) status. Additionally, 58.7% and 55.6% of hospitals had adopted advanced Patient Engagement (PE) and Clinical Document Architecture (CDA) functions, respectively. The growing recognition of the potential of cell and gene therapies in treating various diseases, including cancer and genetic disorders, has led to an increasing demand for these therapies. The United States Food and Drug Administration (FDA) has approved four gene therapies for sale in the United States (U.S.) as of December 2022: Luxterna (voretigene neparvovec) approved in 2017, Zolgensma (onasemnogene abeparvovec-xioi) approved in 2019, Tecartus (brexucabtagene autoleucel) approved in 2020, and Hemgenix (etranacogene dezaparvovec) approved in 2022. Although still in its early stages, gene therapy holds the potential to treat and potentially cure diseases that were previously considered untreatable. Europe is projected to be the second-largest gene therapy market in the upcoming years, primarily due to the growing demand for personalized gene-based treatments.
The gene therapy market is experiencing significant growth with numerous therapies being developed for various indications. This presents a competitive landscape that requires thorough analysis to identify opportunities and challenges for gene therapy developers. In the pharmaceutical industry, the emergence of cell and gene therapy has brought about innovative treatments, with companies focusing on patents and investing strategically to introduce advanced technologies. These investments not only enhance patent portfolios but also position key players at the forefront of industry advancements. Recent deals highlight the importance of cell and gene therapy in the pharmaceutical sector, with dynamic shifts in strategic partnerships, patents, and job trends. The United States leads in global adoption, with collaborative efforts, transformative patents, and evolving job opportunities shaping the future of innovative advancements. As more gene therapies enter the market, companies must effectively prepare their products and go-to-market strategies to fulfill their promise of transforming patient lives. These companies must launch their products in a way that maximizes patient benefits while ensuring success in the market.
In Dec 22, 2021, Novartis announced that it entered into a definitive agreement to acquire all of the outstanding share capital of the UK-based ocular gene therapy company Gyroscope Therapeutics. Geographic atrophy is an advanced form of dry age-related macular degeneration leading to advanced and irreversible idea loss1.