Gene Therapy Market Growth Analysis, Current Status by Top Key Vendors and Trends Forecast to 2027
Market Research Future (MRFR) assessed the global gene therapy market 2021 for the analysis period till 2025. As per MRFR assessment, the global gene therapy market is expected to rise at 40.7% CAGR over the assessment period. By 2025, the gene therapy market value is expected to touch USD 524 Mn.
The growing prominence of gene therapy and the availability of disruptive techniques to simplify the process of incorporating DNA into the cell via a vector are factors that are expected to prompt the market rise in the near future. Key players are invested in the production of cell and gene therapy treatments that can offer target specificity. The growing need for such effective solutions to improve therapeutic window can prompt the growth of the gene therapy market. The availability of different type of gene therapy to meet different types of treatment demand, such as germline gene therapy and somatic gene therapy, can underpin the market upsurge over the analysis tenure. The growing dependency on gene therapy for targeted drug therapy can add to the market upsurge.
Other causes that can promote the gene therapy market in the assessment period, such as, increasing investment by key marketers, robust product pipeline, growing prevalence of target diseases, and upsurge in demand for innovative medication.
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On the contrary, the high cost for product development and problems with stringent regulatory policies can curb rise of the global gene therapy market over the review period. However, global gene therapy market slow-down can be countered with the active participation of reputed companies in the research and development activities to yield effective gene therapy solutions. In addition, launch of new products and increase in strategic collaborations to strengthen position of people can benefit the gene therapy market rise.
Key Players
Amgen, Inc. (US), Spark Therapeutics, Inc. (US), unique N.V. (Netherlands), Gilead Sciences, Inc. (US), Orchard Therapeutics plc (UK), Novartis AG (Switzerland), Bristol-Myers Squibb Company (US), Celgene Corporation (US), Thermo Fisher Scientific Inc. (US), Lonza (Switzerland), and CEVEC (Germany) are some eminent companies in the global gene therapy market that are listed by MRFR in the report.
Market Segmentation
The gene therapy market segment assessment is done by Product Type, Indication, and End-user.
- The Product Type-based segments of the gene therapy market are Kymriah, Yescarta, Luxturna, Strimvelis, Zolgensma, Imlygic, and Zynteglo among others. The introduction of new drugs by reputed pharma companies and rise adoption of gene therapy by the growing number of cancer patients can support rise of the market in the approaching years. Yescarta and Luxturna, and the availability of blockbuster drugs can support rise of the gene therapy market across the evaluation period.
- The Indication-based segments of the gene therapy are genetic disorder, and oncology among others. The oncology segment can surge at high CAGR to earn substantial turnover by 2025. The gradual increase in application of gene therapy for genetic disorder can add to the market expansion by end of the analysis period.
- The End-user-based segments of the gene therapy market are specialty treatment, and hospital and clinics among others. The specialty treatment hospital segment can rise at decent pace to acquire high revenue by 2025. The rise in adoption of gene therapy across hospital and clinics can gain traction.
Regional Analysis
The market study covers a few primary regions, namely Asia Pacific/APAC, the Americas, MEA/Middle East & Africa and Europe.
With the biggest share in the global market, the Americas is in the lead backed by the strong presence of world-renowned vendors and the substantial healthcare expenditure. The rising cases of cancer, significant disposable income of people, and the surge in spending on R&D activities in relation to gene therapy also favor the regional market. The government support in the form of funds for research and the growing acceptance of gene therapy for treating cancer treatment also boost the gene therapy market size in the region.
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Increased financing for gene therapy by leading firms in European countries like the U.K. can be a huge growth booster in the years ahead. Regional vendors are constantly taking up strategies that help them bolster their product distribution and aim to secure approvals from various regulatory bodies, which in turn, aids gene therapy market growth.
APAC is the fastest advancing market as it is rapidly observing a spike in the prevalence of diseases and a surge in the awareness level with regard to gene therapy. China is touted to be the hub for therapy development in the world and in today’s scenario, the number of ongoing clinical trials in the country is far more than that in the United States. Australia, New Zealand and Japan are fast emerging as strong markets in the region as well.
