The latest report by IMARC Group, titled" Gene Therapy Market Report by Gene Type (Antigen, Cytokine, Tumor Suppressor, Suicide Gene, Deficiency, Growth Factors, Receptors, and Others), Vector Type (Viral Vector, Non-Viral Techniques), Delivery Method (In-Vivo Gene Therapy, Ex-Vivo Gene Therapy), Application (Oncological Disorders, Rare Diseases, Cardiovascular Diseases, Neurological Disorders, Infectious Disease, and Others), and Region 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on the market. The global gene therapy market size reached US$ 5.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 16.8 Billion by 2032, exhibiting a growth rate (CAGR) of 13.9% during 2024-2032.
Factors Affecting the Growth of the Gene Therapy Industry:
- Advancements in Genetic Engineering and Biotechnology:
The gene therapy market is significantly driven by advancements in genetic engineering and biotechnology. Innovations such as CRISPR-Cas9 and other gene-editing technologies have revolutionized the ability to modify genetic material with high precision and efficiency. These breakthroughs enable the development of targeted therapies for previously incurable genetic disorders, enhancing the effectiveness and safety of gene therapy treatments. Continuous research and development efforts are leading to novel therapeutic approaches and expanding the potential applications of gene therapy. As these technologies become more refined and accessible, the market is poised for substantial growth, driven by the promise of curing or significantly alleviating genetic diseases.
- Increasing Prevalence of Genetic Disorders:
The rising prevalence of genetic disorders is a major driver of the gene therapy market. Genetic conditions such as cystic fibrosis, muscular dystrophy, hemophilia, and certain types of cancer are increasingly being diagnosed due to advancements in genetic testing and screening. This growing awareness and identification of genetic disorders are fueling the demand for effective treatments. Gene therapy offers a potential cure by addressing the root cause of these diseases at the genetic level, rather than merely managing symptoms. As the incidence of these disorders continues to rise, so does the need for innovative therapies, driving significant investment and interest in the gene therapy market.
- Favorable Regulatory Environment and Increased Funding:
A favorable regulatory environment and increased funding are crucial drivers of the gene therapy market. Regulatory agencies such as the FDA and EMA have been streamlining approval processes for gene therapies, recognizing their potential to address unmet medical needs. These expedited pathways facilitate faster development and commercialization of gene therapy products. Additionally, substantial funding from both public and private sectors is supporting research and development in this field. Government grants, venture capital investments, and collaborations between biotech companies and academic institutions are providing the necessary financial resources to advance gene therapy research. This supportive ecosystem is accelerating the pace of innovation and market growth in the gene therapy sector.
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Leading Companies Operating in the Global Gene Therapy Market
- Abeona Therapeutics Inc.
- Adaptimmune Therapeutics plc
- Adverum Biotechnologies Inc.
- Amgen Inc.
- Astellas Pharma Inc.
- Biogen Inc.
- Bluebird Bio Inc.
- Mustang Bio Inc. (Fortress Biotech Inc.)
- Novartis AG
- Orchard Therapeutics plc
- UniQure N.V.
- Voyager Therapeutics Inc.
Gene Therapy Market Report Segmentation:
By Gene Type:
- Antigen
- Cytokine
- Tumor Suppressor
- Suicide Gene
- Deficiency
- Growth Factors
- Receptors
- Others
Based on the gene type, the market has been divided into antigen, cytokine, tumor suppressor, suicide gene, deficiency, growth factors, receptors, and others.
By Vector Type:
· Viral Vector
o Adenoviruses
o Lentiviruses
o Retroviruses
o Adeno-Associated Virus
o Herpes Simplex Virus
o Poxvirus
o Vaccinia Virus
o Others
· Non-Viral Techniques
o Naked and Plasmid Vectors
o Gene Gun
o Electroporation
o Lipofection
o Others
Viral vector accounts for the largest market share owing to their high efficiency in delivering genetic material into target cells.
By Delivery Method:
- In-Vivo Gene Therapy
- Ex-Vivo Gene Therapy
On the basis of the delivery method, the market has been bifurcated into in-vivo gene therapy and ex-vivo gene therapy.
By Application:
- Oncological Disorders
- Rare Diseases
- Cardiovascular Diseases
- Neurological Disorders
- Infectious Disease
- Others
Oncological disorders represent the largest segment as it encompasses a significant portion of clinical trials and approved therapies due to the high prevalence and urgent need for effective cancer treatments.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America's dominance in the gene therapy market is attributed to advanced healthcare infrastructure, substantial R&D investments, and a supportive regulatory environment.
Global Gene Therapy Market Trends:
The global gene therapy market is experiencing significant growth driven by ongoing advancements in genetic engineering and biotechnology, particularly the development of precise gene-editing tools such as CRISPR-Cas9, which have revolutionized the ability to modify genetic material efficiently, enabling the creation of targeted therapies for a wide range of genetic disorders. These technological innovations are continually expanding the potential applications of gene therapy, fueling market growth. Additionally, the increasing prevalence of genetic disorders such as cystic fibrosis, hemophilia, and certain cancers is driving demand for effective treatments. Furthermore, a favorable regulatory environment is contributing to market growth with agencies such as the FDA and EMA streamlining approval processes for gene therapies, recognizing their potential to meet significant unmet medical needs.
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