Global Gene Therapy Market - WishTree Insight

Global Gene Therapy Market by Indication (Beta-Thalassemia Major/SCD and Large B-cell Lymphoma), Vector Type (Viral and Non-Viral), and Regions, The Asia Pacific, Middle East Africa, Europe, North America, and Latin America) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2021 – 2031

The Gene Therapy market size was valued at USD 6.80 billion in 2021 and is expected to surpass USD 47.3 billion by 2031, expanding at a CAGR of 21.4% during the forecast period, 2021–2031. The market's growth is attributed to the owing to expanding arena of advanced therapies and gene delivery technologies.

INTRODUCTION

Gene is a functional hereditary unit of life. It carries a set of instructions for a particular function. Gene therapy is the advanced treatment applied for infectious diseases, cancer, blood disorders, and chronic diseases. Gene delivery technologies have created an increasingly competitive dynamic where a substantial number of market players are engaged in the commercialization of their gene therapy products. Gene therapy involves partial or full replacement of defective genes with healthy ones to treat or prevent disease proliferation. Based on the location gene therapy is of two types that is somatic gene therapy and germline gene therapy. It is applied for the treatment of cystic fibrosis, Parkinson’s, Alzheimer’s, cancer, hemophilia, brain tumors, SCID, AIDS, and others.

Market Trends, Drivers, Restraints, and Opportunities

• Increase in the prevalence of chronic disorders such as rare disease genetic disorders, cancer, and others is expected to propel the market growth.
• Increase in government support, ethical acceptance of gene therapy for cancer treatment, and a rise in the prevalence of cancer are anticipated to fuel the market growth.
• Increase in healthcare expenditure, the presence of advanced healthcare infrastructure, availability of reimbursements has created new opportunities for gene therapy in the market.
• High cost of gene therapies is expected to hamper the market growth.

Scope of the Report

Market Segment Insights

The large B-cell lymphoma segment is expected to expand at a rapid pace

Based on indication, the gene therapy market is divided into beta-thalassemia major/SCD and large B-cell lymphoma. The large B-cell lymphoma segment is expected to expand at a rapid pace during the forecast period.

The viral segment is projected to register a considerable CAGR

On the basis of vector type, the gene therapy market is segregated into viral and non-viral. The viral segment is projected to register a considerable CAGR during the forecast period owing to its use in FDA-approved gene therapies. On the other hand, the non-viral segment is currently being studied as a safe and effective way to deliver genetic material to cells for therapeutic effect.

The North American region is anticipated to constitute a key market share of 55%

In terms of regions, the gene therapy market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of the North American region is expected to constitute a key share of 55% of the market and is expected to grow during the projected period owing to a strong regulatory framework for promoting the development of cellular therapy and the presence of a substantial number of biopharma companies and several government agencies are investing in the region.

Competitive Landscape

Key players competing in the Gene Therapy market are Novartis (Switzerland); Amgen Inc. (U.S.); Gilead Sciences, Inc. (U.S.); Biogen Inc (U.S.); Bluebird Bio (U.S.).

FAQs

How much is the market worth?

The Gene Therapy market size was valued at USD 6.80 billion in 2021 and is expected to surpass USD 47.3 billion by 2031.

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is expected to be 21.4%.

What are the key drivers of the market?

The market's growth is attributed to the owing to expanding arena of advanced therapies and gene delivery technologies.

What segments are covered in the Gene Therapy report?

The segments covered in the report are an indication (beta-thalassemia major/SCD and large B-cell lymphoma), and vector type (viral and non-viral).

Mention which region is expected to hold the highest share of the Gene Therapy market.

The North American region is expected to hold the highest share of the Gene Therapy market.

Which segment holds the largest market share in Gene Therapy by 2031?

The viral segment holds the largest market share in Gene Therapy by 2031.

Mention the key players in the market.

Novartis (Switzerland); Amgen Inc. (U.S.); Gilead Sciences, Inc. (U.S.); Biogen Inc (U.S.); Bluebird Bio (U.S.)