Gene Therapy Market

The Human Body is composed of trillions of cells and each cell contains genes composed of DNA that encodes necessary information for making different proteins and enzymes that are vital for the human body to function optimally. Few gene mutations may disrupt protein production or not develop these proteins at all, causing genetic or acquired disorders.

Gene therapy works by modifying or introducing a new functional copy of the genes into a patient’s body by using viral or non-viral vectors either administered directly into the patient body (In-vivo) or indirectly via transduction of cells before infusion into the patient body (Ex-vivo) with the goal of durably treating, preventing or reversing the disorder, including several types of cancer, viral diseases, and inherited disorders.

The global gene therapy market was valued at $2,001 million in 2020 and is estimated to reach $10,113 million by 2028, registering a CAGR of 18.24% from 2021 to 2028.

Factors that drive the market growth involves, (1) An increase in funding for R&D activities pertaining to gene therapy, For instance, in 2020 cell and gene therapy companies raised over $2,114 Million in venture financing, most prominently Sana Biotechnology raised $700 million in Series A, Orca Bio raised $192 million in Series D, and ElevateBio raised $170 Million in Series B rounds.

(2) Increased in No. of Approved Products, By the end of Q3 2021 there are a total of 21 approved cell and gene therapy products, In 2017 FDA approved Kymriah®, Yescarta®, and Luxturna®, In 2019 Zolgensma®, Zynteglo® and Collategene® get market approval, and the most recently approved Tecartus, Abecma, Breyanzi, Libmeldy, Skysona, and Carteyva.

Other factors that boost the market growth involve; the rise in the prevalence of cancer, an increase in awareness regarding gene therapy, and a surge in the number of gene therapy clinical trials.

However, the high cost associated with the treatment and unwanted immune responses is expected to hamper the market growth.

The report also presents a detailed quantitative analysis of the current market trends and future estimations from 2021 to 2028.

The forecasts cover 8 Vector Type, 8 Gene Type, 6 Application Type, 4 Regions. The report comes with an associated file covering quantitative data from all numeric forecasts presented in the report.

The report has the following key findings:

• The global gene therapy market accounted for $2,001 million in 2020 and is estimated to reach $10,113 million by 2028, registering a CAGR of 18.24% from 2021 to 2028.

• By Vector Type Adeno-associated virus (AAV) segment has accounted for the highest market share in 2020 follows by the lentiviruses segment.

• Antigen was the largest contributor among the gene type segments.

• The oncological disorders segment generated the highest revenue and is expected to continue its dominance in the future. Follows by the rare disease segment.

• Currently, there are 21 approved gene therapy products available in the market. Furthermore, 23 candidates in phase 3 clinical trials are expected to get approval in the forecast period.

• North America dominated the global gene therapy market in 2020 and is projected to continue its dominance in the future.

• China is expected to grow the highest in the Asia-Pacific region during the forecast period.

The report covers the following topics:

• Market drivers, restraints, and opportunities

• Porter's Five Forces Analysis

• Analysis of By Vector Type, By Gene Type, By Application Type, and By Region

• COVID-19 Impact on cell and gene therapy Industry

• 50 Companies Profile, Product Portfolio, and Key Strategies

• 21 Approved Cell and Gene Therapy Product Profiles

• 23 gene therapy expected approvals in phase III clinical trials

• Gene Therapy clinical trials analysis from 1989 to 2020

• Market analysis and forecasts from 2021 to 2028