Global Gene Therapy Market Expected to Surge by USD 4,613.9 Million from 2022 to 2027

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Global Gene Therapy Market Expected to Surge by USD 4,613.9 Million from 2022 to 2027 — Gene Therapy

The global gene therapy market is anticipated to witness substantial growth, with Technavio projecting a robust increase of USD 4,613.9 million between 2022 and 2027. The market’s momentum is expected to progress at a CAGR of 19.91% during this forecast period. Geographically, North America is poised to play a significant role, contributing an estimated 39% to the overall growth of the global gene therapy market.

The growth in North America is attributed to increased investments in the gene therapy market, particularly in the United States. Government agencies such as the National Institutes of Health (NIH) and the Biomedical Advanced Research and Development Authority (BARDA) are providing funding to small industries and companies focused on developing new gene therapy products. Moreover, a surge in funding from both government and private organizations is expected to drive the development of gene therapy in the region throughout the forecast period.

Market Segmentation Overview:

Therapy Areas: The market is segmented into oncology, CNS, ophthalmology, rare diseases, and others.
Delivery Mode: Segmentation includes in vivo and ex vivo.

The oncology segment is anticipated to experience significant growth during the forecast period. The global demand for oncology drugs, coupled with the increasing prevalence of various cancer indications, has driven pharmaceutical companies and research institutions to explore innovative treatment options like gene therapy.

Vendor Landscape:

The global gene therapy market features a fragmented landscape with several global and regional vendors.
Key players include Abeona Therapeutics Inc., Adaptimmune Therapeutics plc, Adverum Biotechnologies Inc., Amgen Inc., Astellas Pharma Inc., Biogen Inc., bluebird bio Inc., Editas Medicine Inc., F. Hoffmann La Roche Ltd., Generation Bio Co., Gilead Sciences Inc., Novartis AG, Orchard Therapeutics Plc, Poseida Therapeutics Inc., Sangamo Therapeutics Inc., Sibiono GeneTech Co. Ltd., Syncona Ltd., uniQure NV, Voyager Therapeutics Inc., and others.

Key Market Dynamics:

Key Driver: The growth of the market is driven by an increase in special drug designations. Many gene therapy programs have obtained orphan drug designation, fast track designation, or breakthrough designation from regulatory bodies like the U.S. FDA and EMA, providing advantages such as tax incentives and facilitating further research.
Leading Trend: Growing research in gene therapy for cardiovascular diseases (CVDs) and orphan diseases is contributing to market growth. Research efforts are shifting towards developing gene therapies for CVDs, particularly prevalent in adult patients over 65, demonstrating a focus on addressing high prevalence diseases.
Major Challenge: The high treatment cost is identified as a significant challenge hindering market growth. Gene therapy costs, ranging from USD 3 million to USD 1.2 million, present a hurdle due to the personalized nature of gene therapy, where each treatment is tailored individually, increasing manufacturing costs.

What’s New?

Special coverage on the Russia-Ukraine war, global inflation, recovery analysis from COVID-19, supply chain disruptions, global trade tensions, and the risk of recession.
Global competitiveness and key competitor positions.
Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial.

According to a new study conducted by researchers at Oregon Health & Science University (OHSU), gene therapy has the potential for a novel approach for treating Severe Alcohol Use Disorder (AUD). The comprehensive market report provides insights into the gene therapy market’s past data (2017 to 2021) and forecasts (2023 to 2027), offering valuable information to stakeholders and industry participants. A sample report can be requested for a more in-depth understanding of market trends and dynamics.