Gene Therapy Global Market Report 2024

Gene therapy is an approach to treating or curing diseases by modifying an individual's DNA. The mechanisms of gene treatments vary and may involve introducing a healthy copy of a gene to replace a disease-causing one or deactivating a defective gene responsible for an illness.

The primary types of gene therapy include germline therapy and somatic cell therapy. Germline therapy, also known as germline gene therapy, focuses on modifying the genes in germline cells-sperm and egg cells or their precursors. This type of genetic intervention aims to bring about changes at the hereditary level. Different vectors, such as viral vectors, non-viral vectors, and others, are utilized in gene therapy. The application of gene therapy extends to various sectors, including biopharmaceutical companies, research institutes, and other end users. It is employed in addressing conditions related to oncology, orphan diseases, knee osteoarthritis, and neurological disorders.

The gene therapy market research report is one of a series of new reports from The Business Research Company that provides gene therapy market statistics, including gene therapy industry global market size, regional shares, competitors with a gene therapy market share, detailed gene therapy market segments, market trends and opportunities, and any further data you may need to thrive in the gene therapy industry. This gene therapy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The gene therapy market size has grown exponentially in recent years. It will grow from $9.66 billion in 2023 to $12.64 billion in 2024 at a compound annual growth rate (CAGR) of 30.9%. The growth observed in the historical period can be ascribed to an increase in pharmaceutical research and development (R&D) spending, the escalation of public-private partnerships, government investments, and a rise in the incidence of spinal muscular atrophy.

The gene therapy market size is expected to see exponential growth in the next few years. It will grow to $27.77 billion in 2028 at a compound annual growth rate (CAGR) of 21.8%. The anticipated growth in the forecast period can be linked to a rise in cancer cases, the expanding aging population, increased research and development expenditure in the pharmaceutical sector, and a growing emphasis on gene therapy within the market. Key trends in the forecast period involve improving business operations by obtaining regulatory approvals, reinforcing business activities through strategic collaborations and partnerships, expanding business capabilities through strategic acquisitions, and enhancing operational capabilities through business expansions.

The gene therapy market is experiencing growth due to a significant increase in the incidence of cancer and other target diseases, necessitating effective treatments. The global rise in cancer cases is expected to contribute to the expansion of the gene therapy market in the forecast period. As of January 2022, the American Cancer Society predicts approximately 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the United States, highlighting the urgency for advanced treatments. Lung, prostate, bowel, and female breast cancer collectively account for 43 percent of all new cancer cases worldwide. The escalating global cancer incidence is poised to drive demand for gene therapy as an effective treatment, involving the introduction of new genes to induce cell death or slow cancer growth.

The increasing investment in the healthcare industry is set to fuel the growth of the gene therapy market. Healthcare industry investment encompasses allocating funds to companies involved in medical services, manufacturing medical equipment or drugs, offering medical insurance, and contributing to the healthcare sector. This investment plays a pivotal role in the gene therapy industry, as pharmaceutical companies strategically invest to enhance patent portfolios and secure lucrative partnerships. Such investments are instrumental in the development of innovative gene therapy products. For instance, based on the 2021-2030 National Health Expenditure (NHE) report by the Centers for Medicare & Medicaid Services, national health spending is projected to grow by an average of 5.1% annually, reaching nearly $6.8 trillion between 2021 and 2030. Moreover, Medicare spending is expected to increase at a 7.2% annual rate, while Medicaid spending is projected to rise by 5.6% annually. Hence, the increasing healthcare industry investment serves as a driving force behind the growth of the gene therapy market.

Machine learning and artificial intelligence (AI) are gradually gaining traction in the gene therapy market. AI involves simulating human intelligence in machines, Programd to exhibit natural intelligence. As a subset of AI, machine learning supports gene therapy companies in conducting comprehensive data analysis, providing insights into tumor and immune cell interactions, and delivering more accurate evaluations of tissue samples, resolving disputes among different evaluators. For example, in May 2023, Form Bio, a US-based life sciences-focused software company, introduced FORMsightAI, an innovative AI-based solution set designed to predict and optimize manufacturing outputs of cell and gene therapy constructs. This full-service solution combines adaptive AI models, Form Bio's foundational platform, and a proficient team of computational life sciences experts. FORMsightAI addresses common challenges faced by cell and gene therapy developers, including construct truncations and manufacturing contaminations, leading to improved manufacturing yields, shortened timelines to market, and enhanced therapeutic safety.

Major companies in the gene therapy market are strategically investing in the development of gene therapy facilities, such as innovation hubs, to gain a competitive advantage. Gene therapy facilities are specialized establishments for manufacturing and administering gene therapy products, aiming to correct underlying genetic issues and treat or prevent diseases. In March 2021, The Medical Research Council (MRC), LifeArc, and the Biotechnology and Biological Sciences Research Council in the UK announced substantial investments to establish a national network of cutting-edge gene therapy innovation hubs. Supported by $19 million in funding, these facilities aim to accelerate the clinical development of novel genetic therapies, potentially transforming the care of millions of patients, especially those with rare and fatal genetic disorders.

In December 2021, Novartis AG, a Swiss pharmaceutical company, acquired Gyroscope Therapeutics Holdings plc for $800 million. Through this acquisition, Novartis expands its gene therapy research capabilities by adding GT005, an experimental one-time gene therapy in Phase 2 for treating geographic atrophy (GA). This move enhances Novartis's commitment to ophthalmic innovation, contributing to the global effort to treat and prevent blindness related to eye diseases. Gyroscope Therapeutics Holdings PLC, based in the UK, is a clinical-stage biopharmaceutical company specializing in the research and development of gene therapies for eye-related diseases.

Major companies operating in the gene therapy market report are UniQure NV, REGENXBIO Inc., Bristol-Myers Squibb, BioMarin Pharmaceuticals Inc., Jazz Pharmaceuticals Inc., Biocon, Cipla, EdiGene Inc., Takeda Pharmaceutical, Daiichi Sankyo Company, Mitsubishi Tanabe Pharma, Merck, GE Healthcare, Lonza, Pfizer, Cellular Biomedicine Group, GenScript, Albumedix Ltd., Catalent, Freeline Therapeutics, DiNAQOR AG, Vivet Therapeutics, Allergan, Amgen, Biocad, Celgene Corporation, Johnson & Johnson, Eli Lilly and Company, AstraZeneca, Bayer AG, Juno Therapeutics, Allogene Therapeutics, Bluebird Bio, Regen BioPharma, Bellicum, Biotchpharma, BrainStorm Cell Therapeutics, Pluristem, Sanofi

North America was the largest region in the gene therapy market in 2023. The regions covered in the gene therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the gene therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain

The gene therapy market includes revenues earned by entities by replacing a disease-causing gene with a healthy copy of the gene and inactivating a disease-causing gene that is not functioning properly. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Gene Therapy Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on gene therapy market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for gene therapy? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The gene therapy market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Gene Therapy Type: Germline Therapy; Somatic Cell Therapy
• 2) By Vector: Viral Vector; Non-Viral Vector
• 3) By Application: Oncology; Orphan Disease; Knee Osteoarthritis; Neurological Disorders
• 4) By End Users: Biopharmaceutical Companies; Research Institutes; Other End Users
• Companies Mentioned: UniQure NV; REGENXBIO Inc.; Bristol-Myers Squibb; BioMarin Pharmaceuticals Inc.; Jazz Pharmaceuticals Inc.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery Format: PDF, Word and Excel Data Dashboard.