The global gene therapy market was valued at USD 3.61 billion in 2019 and is expected to grow to USD 35.67 billion by 2027, reflecting a compound annual growth rate (CAGR) of 33.6% during the forecast period. In 2019, the U.S. led the global market, accounting for 59.83% of the total share.

The gene therapy market is projected to experience significant growth at a CAGR of 33.6%, driven by advancements in CRISPR-Cas9 and CAR-T-based gene editing technologies. Gene therapy offers new hope for individuals with rare and previously untreatable genetic disorders. Gene therapy involves delivering functional genes into patients using viral or non-viral vectors to correct faulty, non-functional, or missing genes. Gene editing can be performed in either somatic or germline cells. This breakthrough technology has revolutionized the treatment of previously incurable chronic diseases such as cancer and spinal muscular atrophy (SMA). Often regarded as a single-dose cure, gene therapy addresses the root cause of diseases by directly modifying the source DNA.

Gene therapy involves delivering functional genes into patients using viral or non-viral vectors to correct faulty, non-functional, or missing genes. Gene editing can be performed in either somatic or germline cells. This breakthrough technology has introduced a new approach to treating previously incurable chronic diseases like cancer and spinal muscular atrophy (SMA). Often regarded as a single-dose cure, it targets the root cause by directly modifying the source DNA.

Get a Free Sample Research PDF:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/gene-therapy-market-100243

Market Segmentation:

The gene therapy market is segmented by application into oncology, neurology, and others. In 2019, the neurology segment held the largest market share due to the high cost and widespread adoption of treatments for spinal muscular atrophy. However, the oncology segment is expected to grow significantly due to increased market players developing cancer therapies and a strong pipeline of clinical and preclinical products. By vector type, the market is divided into viral and non-viral vectors, with viral vectors dominating in 2019, as 58% of gene therapies in development use them—particularly Adeno-Associated Virus (AAV) due to its safety and effectiveness. Non-viral vectors, including bacterial vectors and plasmid DNA, are projected to grow at a slower rate. In terms of distribution channels, hospitals hold the largest market share due to better availability and accessibility of treatments, while clinics are also expected to grow as more stand-alone facilities offer advanced cancer and neurological therapies.

List Of Key Companies Profiled in Gene Therapy Market:

·         Novartis AG

·         Spark Therapeutics, Inc.

·         Biogen

·         Gilead Sciences, Inc

·         Amgen, Inc.

·         Jazz Pharmaceuticals, Inc.

·         Sarepta Therapeutics

·         GlaxoSmithKline plc

·         Other Prominent Players

Gene Therapy Market Driving Factors:

The prevalence of rare genetic disorders is rising globally. According to the National Organization for Rare Disorders (NORD), spinal muscular atrophy (SMA) affects approximately 1 in 10,000 live births in the U.S. each year. Advances in gene therapy have made it possible to treat conditions that were once considered untreatable. Meanwhile, cancer remains one of the most widespread diseases worldwide. Recent estimates from the World Health Organization (WHO) and Globocan indicate that the total five-year global cancer prevalence is around 43 million. Gene therapy plays a crucial role in preventing certain types of cancer, particularly in individuals with a genetic predisposition due to inherited mutations.

Gene Therapy Market Restraining Factors:

Despite the rising prevalence of chronic disorders such as SMA and cancer, gene therapy remains an extremely expensive treatment option. Often marketed as a single-dose regimen that corrects genetic dysfunction, the high cost poses a significant challenge. According to Novartis AG, a single dose of Kymriah, a cancer gene therapy drug, is priced at USD 475,000 in the U.S. and USD 306,000 in Japan. The steep cost of gene therapy has also led to reluctance among some insurance companies to provide reimbursement, potentially hindering market growth in the coming years.

Regional Analysis:

In 2019, the U.S. gene therapy market was valued at USD 2.16 billion, driven by the high prevalence of chronic disorders, increasing adoption of advanced therapies, and favorable reimbursement policies. With gene therapy still unapproved in many developing countries, major market players are prioritizing product launches in the U.S. Europe also demonstrates strong acceptance of advanced treatments for rare diseases, supported by significant research funding. According to the Alliance for Regenerative Medicine, over 100 companies are engaged in gene therapy development in the region, contributing to market growth. In contrast, Asia Pacific holds a smaller market share due to lower adoption rates, primarily attributed to the high cost of treatment. However, developing nations like India are working on regulatory frameworks to facilitate the marketing and approval of gene therapy products.

Key Industry Developments:

·June 2021 – Biogen Inc. reported positive Phase 3 STAR study results for timrepigene emparvovec (BIIB111/AAV2-REP1), an investigational gene therapy for   choroideremia.

·February 2021 – Spark Therapeutics announced the dosing of the first U.S. participant in an international gene therapy clinical trial for Pompe Disease