Gene Therapy Market Benefits, Industry Growth, Demands, Trends and Applications, Forecast till 2027

The Global Gene Therapy Market is projected to reach USD 17.2 billion by 2027 from USD 7.3 billion in 2022, at a CAGR of 18.6% during the forecast period. The lucrative growth is attributed to factors such as the high incidence of cancer and other target diseases, increasing product approvals, and the availability of funding for gene therapy research. On the other hand, the high cost of treatment and the availability of alternative treatment methods are expected to limit market growth to a certain extent..

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Browse in-depth TOC on “Gene Therapy Market”

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Key Market Players

The gene therapy market is consolidated, with three major players holding the dominant share of the market. In 2021, Biogen (US), Novartis AG (Switzerland), and Gilead Sciences, Inc. (US) were the leading players in the gene therapy market. Other major players in this market include Sarepta Therapeutics (US), Amgen, Inc. (US), Spark Therapeutics, Inc. (US), AGC Biologics (Italy), Orchard Therapeutics plc. (UK), Sibiono (China), Alnylam Pharmaceuticals, Inc. (US), Human Stem Cells Institute (Russia), AnGes, Inc. (Japan), Dynavax Technologies (US), Jazz Pharmaceuticals, Inc. (Ireland), and Akcea Therapeutics (US). The intensity of competitive rivalry in the gene therapy market is high.

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Driver: Funding for gene therapy research

Gene therapy is one of the latest treatment methods in the healthcare industry. It has shown promising results in treating cancer and other genetic diseases. As a result, the focus on gene therapy research has increased over the last few years. In addition, many companies focus on growth opportunities in this market by launching new and advanced products. For example:

In March 2022, the National Heart Lung and Blood Institute granted USD 12 million to an Indiana University School of Medicine researcher. The grant is for exploring major themes in a gene therapy approach to safer and potentially curative treatments for hemophilia.

In May 2019, Locana, Inc., a leading RNA-targeting gene therapy company, received USD 55 million in Series A financing led by ARCH Venture Partners, with participation from Temasek and Lightstone Ventures (all existing investors). The company will utilize this fund for its RNA-targeting gene therapy pipeline programs.

Opportunity: Strong product pipeline

Gene therapy is a promising revenue-generation area for pharmaceutical & biotechnology companies. Currently, most key players are focusing on new gene therapy products to capitalize the market growth opportunities. Some of these products are in the pre-clinical stage, while others are in the clinical phase and are expected to secure approval in the coming years. In addition, companies operating in the gene therapy industry are focusing on various disease areas, including hemophilia A & B, Fabry disease, wet age-related macular degeneration, mucopolysaccharidosis type II, ornithine transcarbamylase (OTC) deficiency, achromatopsia, and multiple myeloma. As a result, the patient pool for gene therapies is expected to increase in the coming years.

Challenge: High treatment cost

Currently, the cost of gene therapies is very high and can reach up to USD 1 million for one patient, depending on the disease condition. Most gene therapy products in the US and EU are covered under reimbursement programs. However, it is difficult for people not covered by insurance to afford such high-cost treatments.

Recent Developments:

  • In February 2022, Sarepta Therpeutics (US) announced a collaboration to use GenEdit’s NanoGalaxy platform and Sarepta’s gene editing technology to develop gene editing therapeutics to treat neuromuscular diseases.
  • In May 2022, Novartis AG (Switzerland) received FDA approval for KYMRIAH for adult patients with relapsed or refractory follicular lymphoma after two or more lines of systemic therapy.

Report Link: Gene Therapy Market

Table of Content:

INTRODUCTION (Page No. – 23)

  • STUDY OBJECTIVES
  • MARKET DEFINITION
  • STUDY SCOPE
  • YEARS CONSIDERED
  • CURRENCY CONSIDERED
  • LIMITATIONS
  • RESEARCH METHODOLOGY (Page No. – 26)
    • RESEARCH DATA
    • MARKET SIZE ESTIMATION
    • RESEARCH ASSUMPTIONS
    • RISK ASSESSMENT
  • EXECUTIVE SUMMARY (Page No. – 32)

FIGURE 6 GENE THERAPY MARKET, BY VECTOR, 2022 VS. 2027 (USD MILLION)

FIGURE 7 GLOBAL MARKET, BY DELIVERY METHOD, 2022 VS. 2027 (USD MILLION)

FIGURE 8 GLOBAL MARKET, BY INDICATION, 2022 VS. 2027 (USD MILLION)

FIGURE 9 GLOBAL MARKET: REGIONAL SNAPSHOT

  • PREMIUM INSIGHTS (Page No. – 35)
  • MARKET OVERVIEW (Page No. – 37)
    • INTRODUCTION
    • MARKET DYNAMICS

FIGURE 13 GENE THERAPY MARKET: DRIVERS, OPPORTUNITIES, AND CHALLENGES

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