Gene Therapy Market is Likely to be Valued at US$ 10.1 Billion by 2032; Fact.MR

In 2021, the gene therapy market was estimated to be worth US$1.55 billion. The market is anticipated to expand at a CAGR of 18.5% between 2022 and 2032, rising from US$ 1.85 billion to US$ 10.1 billion.

The prevalence of rare disorders has significantly increased, which has increased demand for cell and gene therapy. Ex-vivo gene therapy is gaining acceptance for neurological therapies, which is anticipated to fuel market expansion for gene therapy until 2032.

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Market Frontrunners

• Novartis AG
• Gilead Sciences Inc.
• Spark Therapeutics Inc.
• Sibiono GeneTech Co. Ltd.
• CELGENE CORPORATION
• Orchard Therapeutics Limited
• BioNTech

Competitive Analysis

• In October 2021, the National Institutes of Health, the United States Food and Drug Administration, ten pharmaceutical companies, and five non-profit organizations announced a collaboration to accelerate the development of gene therapies for the 30 million Americans who suffer from a rare disease. Such initiatives are expected to boost demand for gene therapy.
• BioMarin Pharmaceutical Inc. reported updates on its investigational gene therapy programs in clinical development in February 2022. The Food and Drug Administration (FDA) issued additional requests to the Company for information needed to resolve the clinical hold of the PHEARLESS Phase 1/2 study of BMN 307 issued in September 2021.
• Novartis acquired Gyroscope Therapeutics in December 2021, adding a one-time gene therapy that could transform care for geographic atrophy, a leading cause of blindness.
• Abecma (idecabtagene vicleucel), a cell-based gene therapy, was approved by the US Food and Drug Administration in March 2021 to treat adult patients with multiple myeloma who have not responded to, or whose disease has returned after, at least four prior lines (different types) of therapy. Abecma is the first FDA-approved cell-based gene therapy for the treatment of multiple myeloma.

Key Findings

• In terms of product type, yescarta holds the majority share in the overall market stack.
• Luxturna will register an impressive growth rate through the forecast period.
• Europe accounts for 3/5^th of total demand for gene therapy on account of greater spending on oncology research.
• North America will continue to be a lucrative region for prominent players in gene therapy market.

Market Growth Indicators 

• The rising prevalence of genetic disorders, such as inherited diseases and genetic cancers, has created a substantial demand for gene therapy. North America has a significant population affected by genetic disorders, and gene therapy offers potential treatments and cures for these conditions.
• Significant advancements in gene therapy technologies, including viral vectors, gene editing tools (such as CRISPR-Cas9), and gene delivery systems, have enhanced the effectiveness and safety of gene therapy. These technological breakthroughs have expanded the scope of gene therapy applications, attracted increased investments, and driven market growth.
• North America, particularly the United States, has established a supportive regulatory environment for gene therapy. The U.S. Food and Drug Administration (FDA) has implemented expedited approval pathways, such as the Breakthrough Therapy designation, to accelerate the development and commercialization of gene therapies. This favorable regulatory landscape has facilitated market growth by reducing barriers and timelines for product approvals.
• The gene therapy sector in various geographies including North America has attracted significant investments from venture capitalists, pharmaceutical companies, and government organizations. The availability of substantial funding has supported research and development activities, clinical trials, and the commercialization of gene therapies.

Industry Research Report

• By Product :
  • Yescarta-based
  • Kymriah-based
  • Luxturna-based
  • Strimvelis-based
  • Gendicine
  • Others
• By Application :
  • Ophthalmology
  • Oncology
  • Adenosine Deaminase/Deficient Severe Combined Immunodeficiency (ADA-SCID)
• By Region :
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • MEA

Some of the Gene Therapy Market insights and estimations that make this study unique in approach and effective in guiding stakeholders in understanding the growth dynamics. The study provides: 

• Information about the most recent advancements and developments in gene therapy and how they are attracting customers throughout the predicted period.
• Analysis of product demand from customers and projections for its future development.
• Recent laws enacted by federal, state, and municipal authorities and their effects on the demand for gene therapy.
• Information about the acceptance of new technologies and how it affects the size of the market for gene therapy.
• Overview of the effects of COVID-19 on the market for gene therapy and the pandemic’s effects on the economy.
• Analyzes the effect of the post-pandemic period on the global market for gene therapy sales.

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