PUBLISHER: Grand View Research | PRODUCT CODE: 1553571
PUBLISHER: Grand View Research | PRODUCT CODE: 1553571
The global gene delivery technologies market size is expected to reach USD 10.27 billion by 2030, expanding at a CAGR of 11.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. Technological advancements in viral vectors, a growing pipeline of advanced therapies, and a rising number of regulatory approvals for advance therapy products are some key driving forces of the market.
Several novel tools are being introduced for genetic alterations that have facilitated the scientific community to delineate the disease intricacies at the genomic level, leading to the emergence of novel gene delivery approaches. Furthermore, ongoing research to develop clinically relevant vectors including viral and non-viral vectors to combat chronic illnesses such as cancer, Alzheimer's, and others through advanced therapies is spurring the market revenue.
An increase in investment and financing in the space to support the research, development, and manufacturing of various modes of gene transfer further accelerates the revenue growth. Currently, around 70% of gene and cell therapy programs are based on viral vectors leading to organic revenue growth for biological delivery technologies. The operating players are investing significantly to scale up their viral vector manufacturing capability and meet the growing demand.
Considering growing opportunities in physio-chemical gene delivery approaches, key players are making focused efforts to boost their business presence. For instance, nanoparticles have proven their efficiency as promising vehicles for clinical usage owing to their tunable morphology, and biological behaviors. Such ongoing developments in the space are anticipated to accelerate revenue growth in this market in the coming years.