June 10, 2024

Gene Therapy Market Size to Touch US$ 15.68 Bn by 2030 – Daily Tech Bulletin

According to a research report Gene Therapy Market (By Vector Type: Viral Vector and Non-viral Vector; By Gene Type: Antigen, Cytokine, Tumor Suppressor, Suicide Deficiency, Receptors, Others; By Application: Oncological Disorders, Rare Diseases, Cardiovascular Diseases, Neurological Disorders, Infectious Diseases, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021 – 2030″ published by Precedence Research.

The gene therapy market size is projected to touch USD 3.59 billion in 2022 and is forecasted to reach USD 15.68 billion by 2030; it is expected to grow at a CAGR of 20.2% from 2021 to 2030.

Gene Therapy Market Size 2020 to 2030

The study provides an analysis of the period 2017-2030, wherein 2021 to 2030 is the forecast period and 2021 is considered as the base year.

The growing field of advanced therapeutics and gene delivery technologies has generated a competitive environment in which a large number of market companies are working to commercialize their gene therapy products. The mergers, acquisitions, and collaborations are being pursued by therapy developers as a realistic option for enhancing in-house knowledge and strengthening product portfolio. These factors are predicted to contribute the growth of gene therapy market. While the high prices of currently accessible therapies encourage therapeutic development, they also limit the accessibility and hinder the growth of market.

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Scope of the Gene Therapy Market
Report Coverage Details
Market Size by 2030 US$ 15.68 Billion
Growth Rate from 2021 to 2030 CAGR of 20.2%
Largest Market North America
Fastest Growing Market Asia Pacific
Base Year 2021
Forecast Period 2021 to 2030
Market Dynamics

Drivers

Rising prevalence of cancer

The cancer is caused by the change of normal cells into tumor cells in a multi-stage process that usually starts with a pre-cancerous lesion and progresses to a malignant tumor. The interaction of a person’s hereditary variables results in these changes. Cancer is the biggest cause of death globally, with approximately 10 million deaths were reported by 2020. As each kind of cancer necessitates a different treatment plan, a correct cancer diagnosis is critical for suitable and effective treatment. The chemotherapy, radiotherapy, and surgery are commonly used in the treatment of cancer. Thus, the rising prevalence of cancer is driving the growth of the market.

Restraints

High cost of treatment

Despite of the rising prevalence of chronic diseases such as cancer, treatment remains prohibitively expensive. The approach is marketed as a single-dose treatment that corrects genetic malfunction in the body of the patient. Due to the high expense of the gene therapy, some insurance companies have been hesitant to fund the treatment plan. These variables may have significant impact on the growth of the gene therapy market in the coming years.

Opportunities

Rise in gene therapy treatment centers

Given the faster regulatory utilization for drug approvals and the potential success rates of gene therapy, market participants are focusing on establishing gene therapy treatment centers, particularly in developed regions.Furthermore, governments are increasing their spending on healthcare system upgrades in order to address a larger patient pool in need of gene therapy. Companies are concentrating their efforts on investing in research and development to treat a variety of diseases on a large scale. Thus, the rise in gene therapy treatment centers is creating lucrative opportunities for the growth of the market during the forecast period.

New drug discovery for incurable diseases

Gene therapy is increasingly becoming an area of interest for numerous academic institutes and research centers, particularly in the field of oncology, due to its potential for developing drugs that have the potential to address rarely-occurring disorders. With gene therapy on the rise, the healthcare industry must rethink its development and reimbursement framework for therapies and treatment methods that deviate from the traditional approach to disease cure. Thus, the discovery of new drugs for the rare diseases will pave way for the growth of the market.

Challenges

Lack of resources in developing and underdeveloped regions

The gene therapy is not practiced in the developing and underdeveloped nations, owing to lack of proper resources. The resources are not available to develop the gene therapy technology in various countries, which is the biggest challenge for the growth of the market.

Read Also: Cancer Biopsy Market Size to Touch US$ 66.1 Bn by 2030

Report Highlights
  • Based on the vector type, the viral vector segment dominated the global gene therapy market in 2020 with highest market share. The use of viral vector has increased significantly in recent years in a variety of therapeutic fields, resulting in significant demand in the coming years. One of the most crucial elements driving its adoption is their proven non-pathogenicity.
  • Based on the application, the oncological disorders segment is estimated to be the most opportunistic segment during the forecast period. This is attributed to the growing number of market players involved in developing therapy and cures for various types of cancer. The segment’s growth will be aided by an increase in the number of new drugs in clinical and preclinical phases.
Regional Snapshot

North America is the largest segment for gene therapy market in terms of region. The high frequency of chronic ailments and growing adoption of modern medicines for the treatment of rare diseases are responsible for the region’s dominance. The favorable standards and reimbursement policies would also help the region’s market to flourish. Because this treatment procedure has not yet been legalized in a number of developing nations, the key market players are concentrating their efforts on releasing products in the North America region.

Europe region is the fastest growing region in the gene therapy market. The advanced therapy solutions for incurable diseases are well known all across the Europe. The high research spending in these fields would help the region’s market growth.

Why should you invest in this report?

If you are aiming to enter the global gene therapy market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for gene therapy are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Gene Therapy Market 

5.1. COVID-19 Landscape: Gene Therapy Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Gene Therapy Market, By Vector

8.1. Gene Therapy Market, by Vector Type, 2021-2030

8.1.1. Viral Vector

8.1.1.1. Market Revenue and Forecast (2019-2030)

8.1.2. Non-viral Vector

8.1.2.1. Market Revenue and Forecast (2019-2030)

Chapter 9. Global Gene Therapy Market, By Application

9.1. Gene Therapy Market, by Application, 2021-2030

9.1.1. Oncological Disorders

9.1.1.1. Market Revenue and Forecast (2019-2030)

9.1.2. Rare Diseases

9.1.2.1. Market Revenue and Forecast (2019-2030)

9.1.3. Cardiovascular Diseases

9.1.3.1. Market Revenue and Forecast (2019-2030)

9.1.4. Neurological Disorders

9.1.4.1. Market Revenue and Forecast (2019-2030)

9.1.5. Infectious Diseases

9.1.5.1. Market Revenue and Forecast (2019-2030)

9.1.6. Others

9.1.6.1. Market Revenue and Forecast (2019-2030)

Chapter 10. Global Gene Therapy Market, By Gene 

10.1. Gene Therapy Market, by Gene, 2021-2030

10.1.1. Antigen

10.1.1.1. Market Revenue and Forecast (2019-2030)

10.1.2. Cytokine

10.1.2.1. Market Revenue and Forecast (2019-2030)

10.1.3. Tumor Suppressor

10.1.3.1. Market Revenue and Forecast (2019-2030)

10.1.4. Suicide

10.1.4.1. Market Revenue and Forecast (2019-2030)

10.1.5. Deficiency

10.1.5.1. Market Revenue and Forecast (2019-2030)

10.1.6. Receptors

10.1.6.1. Market Revenue and Forecast (2019-2030)

10.1.7. Others

10.1.7.1. Market Revenue and Forecast (2019-2030)

Chapter 11. Global Gene Therapy Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Forecast, by Vector (2019-2030)

11.1.2. Market Revenue and Forecast, by Application (2019-2030)

11.1.3. Market Revenue and Forecast, by Gene (2019-2030)

11.1.4. U.S.

11.1.4.1. Market Revenue and Forecast, by Vector (2019-2030)

11.1.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.1.4.3. Market Revenue and Forecast, by Gene (2019-2030)

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Forecast, by Vector (2019-2030)

11.1.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.1.5.3. Market Revenue and Forecast, by Gene (2019-2030)

11.2. Europe

11.2.1. Market Revenue and Forecast, by Vector (2019-2030)

11.2.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.3. Market Revenue and Forecast, by Gene (2019-2030)

11.2.4. UK

11.2.4.1. Market Revenue and Forecast, by Vector (2019-2030)

11.2.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.4.3. Market Revenue and Forecast, by Gene (2019-2030)

11.2.5. Germany

11.2.5.1. Market Revenue and Forecast, by Vector (2019-2030)

11.2.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.5.3. Market Revenue and Forecast, by Gene (2019-2030)

11.2.6. France

11.2.6.1. Market Revenue and Forecast, by Vector (2019-2030)

11.2.6.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.6.3. Market Revenue and Forecast, by Gene (2019-2030)

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Forecast, by Vector (2019-2030)

11.2.7.2. Market Revenue and Forecast, by Application (2019-2030)

11.2.7.3. Market Revenue and Forecast, by Gene (2019-2030)

11.3. APAC

11.3.1. Market Revenue and Forecast, by Vector (2019-2030)

11.3.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.3. Market Revenue and Forecast, by Gene (2019-2030)

11.3.4. India

11.3.4.1. Market Revenue and Forecast, by Vector (2019-2030)

11.3.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.4.3. Market Revenue and Forecast, by Gene (2019-2030)

11.3.5. China

11.3.5.1. Market Revenue and Forecast, by Vector (2019-2030)

11.3.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.5.3. Market Revenue and Forecast, by Gene (2019-2030)

11.3.6. Japan

11.3.6.1. Market Revenue and Forecast, by Vector (2019-2030)

11.3.6.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.6.3. Market Revenue and Forecast, by Gene (2019-2030)

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Forecast, by Vector (2019-2030)

11.3.7.2. Market Revenue and Forecast, by Application (2019-2030)

11.3.7.3. Market Revenue and Forecast, by Gene (2019-2030)

11.4. MEA

11.4.1. Market Revenue and Forecast, by Vector (2019-2030)

11.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.3. Market Revenue and Forecast, by Gene (2019-2030)

11.4.4. GCC

11.4.4.1. Market Revenue and Forecast, by Vector (2019-2030)

11.4.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.4.3. Market Revenue and Forecast, by Gene (2019-2030)

11.4.5. North Africa

11.4.5.1. Market Revenue and Forecast, by Vector (2019-2030)

11.4.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.5.3. Market Revenue and Forecast, by Gene (2019-2030)

11.4.6. South Africa

11.4.6.1. Market Revenue and Forecast, by Vector (2019-2030)

11.4.6.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.6.3. Market Revenue and Forecast, by Gene (2019-2030)

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Forecast, by Vector (2019-2030)

11.4.7.2. Market Revenue and Forecast, by Application (2019-2030)

11.4.7.3. Market Revenue and Forecast, by Gene (2019-2030)

11.5. Latin America

11.5.1. Market Revenue and Forecast, by Vector (2019-2030)

11.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.5.3. Market Revenue and Forecast, by Gene (2019-2030)

11.5.4. Brazil

11.5.4.1. Market Revenue and Forecast, by Vector (2019-2030)

11.5.4.2. Market Revenue and Forecast, by Application (2019-2030)

11.5.4.3. Market Revenue and Forecast, by Gene (2019-2030)

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Forecast, by Vector (2019-2030)

11.5.5.2. Market Revenue and Forecast, by Application (2019-2030)

11.5.5.3. Market Revenue and Forecast, by Gene (2019-2030)

Chapter 12. Company Profiles

12.1. Dimension Therapeutics Inc.

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. Taxus Cardium Pharmaceuticals Group Inc.

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. Epeius Biotechnologies Corp.

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. Shanghai Sunway Biotech Co. Ltd

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Applied Genetic Technologies Corporation

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. Bristol-Myers Squibb Company

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. American Gene Technologies

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. BioMarin Pharmaceuticals Inc.

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. Gensight Biologics S.A.

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. Sibinono GeneTech Co. Ltd

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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