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Gene Therapy Market Predicted to Reach $10.1 Billion by 2032 with 18.5% CAGR

In 2021, the global gene therapy market is expected to be worth $1.55 billion USD. The market is expected to increase at an 18.5% CAGR from US$ 1.85 billion in 2022 to US$ 10.1 billion by 2032.

Gene therapy is a transformative field within the biotechnology and healthcare sectors, offering the potential to treat a wide range of genetic disorders and diseases by modifying or replacing faulty genes. This innovative approach holds promise for addressing previously incurable conditions and improving patient outcomes. The gene therapy market has witnessed substantial growth in recent years as advancements in biotechnology, improved understanding of genetics, and regulatory approvals have paved the way for the development and commercialization of gene-based therapies.

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Gene Therapy Market Demand & Supply Trends

  1. Growing Prevalence of Genetic Disorders: The increasing incidence of genetic disorders and rare diseases has fueled the demand for gene therapy. Patients suffering from conditions like hemophilia, muscular dystrophy, and certain forms of cancer can benefit from targeted gene-based treatments.
  2. Cancer Immunotherapy: Gene therapy has emerged as a key component of cancer immunotherapy. CAR-T cell therapies, which involve genetically modifying a patient’s own immune cells to target cancer, have gained prominence in the treatment of hematologic malignancies.
  3. Expanding Therapeutic Applications: Gene therapy is being explored for a wide range of therapeutic applications, including neurological disorders, ophthalmic diseases, cardiovascular conditions, and infectious diseases. This diversification of applications contributes to market growth.
  4. Investment and Funding: The gene therapy sector has attracted significant investment from both public and private sources. Funding for research and development has accelerated the pace of innovation and clinical trials.
  5. Regulatory Approvals: The approval of gene therapies by regulatory authorities, such as the U.S. FDA and the European Medicines Agency (EMA), has provided a clear pathway for commercialization. This has encouraged pharmaceutical companies to invest in gene therapy programs.
  6. Advancements in Gene Editing Technologies: The development of precise gene editing technologies like CRISPR-Cas9 has opened up new possibilities in gene therapy. These technologies enable more targeted and efficient gene modifications.

Gene Therapy Market Current Issues and Challenges

  • High Costs: Gene therapies are often associated with high development and treatment costs. This can pose challenges for patient access and reimbursement, particularly in healthcare systems with budget constraints.
  • Safety Concerns: Ensuring the safety of gene therapies is a paramount concern. Adverse events or unintended consequences of gene editing can have serious consequences. Rigorous safety assessments and monitoring are essential.
  • Long-Term Efficacy: The long-term efficacy of gene therapies is an ongoing question. Monitoring patient outcomes and assessing the durability of treatment effects is critical for establishing the value of these therapies.
  • Limited Manufacturing Capacity: The production of gene therapies can be complex and time-consuming. Limited manufacturing capacity can hinder the availability of these treatments, particularly for rare diseases.
  • Ethical and Regulatory Issues: Ethical considerations surrounding gene editing and germline modifications continue to be debated. Regulatory frameworks must evolve to address these ethical challenges.
  • Patient Access: Ensuring equitable patient access to gene therapies is a pressing challenge. Addressing affordability, reimbursement, and access disparities is essential for realizing the full potential of these treatments.

Competitive Landscape

The global gene therapy market is characterized by intense competition, with a select few major players holding significant market share. Notable companies, including Amgen Inc., Bluebird Bio, Gilead Sciences, Inc., Novartis AG, Orchard Therapeutics, Sibiono GeneTech Co. Ltd., Spark Therapeutics (Roche AG), and UniQure N.V., dominate this dynamic market. These industry leaders employ various strategic initiatives, including collaborations, acquisitions, and the introduction of advanced products, to secure their positions in the global gene therapy market.

Recent Developments:

  1. Collaborative Initiatives for Rare Diseases: In October 2021, a collaboration involving the National Institutes of Health, the United States Food and Drug Administration, ten pharmaceutical companies, and five non-profit organizations was announced. This collaborative effort aims to accelerate the development of gene therapies tailored for the 30 million Americans afflicted by rare diseases. Such initiatives are expected to drive increased demand for gene therapy treatments.
  2. BioMarin Pharmaceutical Inc.’s Updates: In February 2022, BioMarin Pharmaceutical Inc. provided updates on its investigational gene therapy programs in clinical development. The Food and Drug Administration (FDA) had issued additional requests for information to the company to address the clinical hold of the PHEARLESS Phase 1/2 study of BMN 307, which had been imposed in September 2021. These developments underscore the regulatory rigor associated with gene therapy programs.
  3. Novartis’ Strategic Acquisition: In December 2021, Novartis made a significant acquisition by purchasing Gyroscope Therapeutics. This addition brought a one-time gene therapy into Novartis’ portfolio, holding the potential to revolutionize the treatment of geographic atrophy, a leading cause of blindness. This strategic move positions Novartis to expand its footprint in the gene therapy market.
  4. FDA Approval for Abecma: In March 2021, the US Food and Drug Administration granted approval for Abecma (idecabtagene vicleucel), a cell-based gene therapy. This milestone marked a significant achievement in the gene therapy field, as Abecma became the first FDA-approved cell-based gene therapy for the treatment of multiple myeloma in adult patients who have not responded to or have experienced disease relapse after undergoing at least four prior lines of therapy. This approval underscores the therapeutic potential of gene-based treatments.

Key Segments Covered in Gene Therapy Industry Research

  • 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

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The gene therapy market holds immense promise for revolutionizing the treatment of genetic disorders and other diseases. Demand is driven by the increasing prevalence of genetic conditions, advancements in therapeutic applications, investment and funding, regulatory approvals, and breakthroughs in gene editing technologies. However, challenges related to cost, safety, long-term efficacy, manufacturing capacity, ethics, and patient access must be addressed to ensure the continued growth and success of the gene therapy sector.

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Categories
Pharmaceutical

Sales Forecast of Gene Therapy Market , Analysis, and Forecast Report till 2031

Gene Therapy Market size is done based on a triangulation methodology that is primarily based on experimental modelling approaches such as patient-level data or disease epidemiology for any key indications , number of procedures and install base analysis for any equipment to obtain precise market estimations  for the base year as well as in historic data analysis.

Bottom-up approach is always used to obtain Gene Therapy insightful data for the specific country/regions. The country specific data is again analyzed to derive data at a global level. Specific factors/parameters are considered related to the individual Gene Therapy market and quantified with insightful rationale.

Increasing prevalence of diseases across the globe is generating huge demand for advanced healthcare system. As a result, more and more technologically advanced medical devices are being employed to aid medical Practitioners and professionals in medical setups. Sales of Gene Therapy devices are soaring rapidly.

The Demand analysis of Gene Therapy Market offers a comprehensive analysis of diverse features, demand, product developments, revenue generation, and sales of Gene Therapy Market across the globe.

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Key Segments Covered

  • Product

    • Yescarta
    • Kymriah
    • Luxturna
    • Strimvelis
    • Gendicine
  • Application

    • Ophthalmology
    • Oncology
    • Adenosine Deaminase/Deficient Severe Combined Immunodeficiency (ADA-SCID)

Key stakeholders in Market including industry players, policymakers, and investors in various countries have been continuously realigning their strategies and approaches to implement them in order to tap into new opportunities.

The Market survey of Gene Therapy offers a comprehensive analysis of diverse features, including production capacities analysis of Gene Therapy, demand, product developments, revenue generation, and Size of Gene Therapy Market across the globe.

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Some Notable Offerings by Fact.MR Report on Gene Therapy market:

  • We will provide you an analysis of the extent to which this Gene Therapy market research report acquires commercial characteristics along with examples or instances of information that helps you to understand it better.
  • We will also help to identify customary/ standard terms and conditions, as offers, worthiness, warranty, and others.
  • Also, this report will help you to identify any trends to forecast growth rates.
  • The analyzed report will forecast the general tendency for supply and demand.

Competitive Landscape

Gene therapy companies are focusing on investing in factories and launching newer therapies for different diseases. Some notable developments with regards for gene therapy are as follows:

  • In July, 2021, BioNTech entered into a collaborative agreement with Gilead Company owned Kite to acquire its neoantigen TCR cell therapy R&D platform and manufacturing facility situated in Gaithesburg. This acquisition will enhance production capacity to support clinical trials in the U.S and complement its already existing cell therapy manufacturing facility in Germany.
  • In September 2021, NeuExcel Therapeutics and Spark Therapeutics- a Roche Group company- announced a gene therapy collaboration aimed at developing a safe and effective treatment for patients suffering from Huntington’s disease. In this agreement, the latter will acquire the former’s proprietary neuro-regenerative gene therapy platform and capabilities.

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: 

  • Details regarding latest innovations and development in Gene Therapy and how it is gaining customer traction during the forecast period.
  • Analysis about the customer demand of the products and how it is likely to evolve in coming years.
  • Latest regulations enforced by government bodies and local agencies and their impact on Demand of Gene Therapy Market .
  • Insights about adoption of new technologies and its influence on the Gene Therapy market Size.
  • Overview of the impact of COVID-19 on Gene Therapy Market and economic disruptions caused by the pandemic.
  • Evaluates post-pandemic impact on the Sales of Gene Therapy Market during the forecast period.

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Technological Innovation in Medical Devices Revolutionizing the Healthcare System

The medical device industry is a heterogeneous, innovative and dynamic sector. From telemedicine to artificial intelligence, robotic surgery and 3D printing, technology is revolutionizing the healthcare industry.

The intersection of healthcare and technology has led to numerous advancements in medical devices. New age medical technology has transformed the way doctors and patients participate and interact with each other. Introduction of advanced medical devices such as drug-device combinations (DDCs), preventive and predictive equipment’s, self-care devices is completely transforming the medical world.

Increasing investments by public and government bodies in healthcare sector is positively impacting the Gene Therapy market. Governments across the globe are introducing various initiatives to strength the medical device sector with major emphasis on research and development (R&D).

Gene Therapy manufacturing companies and healthcare service providers have started offering personalized patient care and access to complete end-to-end medical device products and services. They are focusing on developing and enhancing product prototyping and minimizing operation cost.

With the onset of COVID-19 pandemic the sales of Gene Therapy witnessed a huge upsurge and the trend is likely to continue in the future.

After reading the Market insights of Gene Therapy Report, readers can:

  • Understand the drivers, restraints, opportunities and trends affecting the Sales of market.
  • Analyze key regions holding significant share of total Gene Therapy market revenue.
  • Study the growth outlook of Gene Therapy market scenario, including production, consumption, history and forecast.
  • Learn consumption pattern and impact of each end use & supply side analysis of Gene Therapy market.
  • Investigate the recent R&D projects performed by each market player & competitive analysis of Gene Therapy Market Players.

Read More Trending Reports of Fact.MR: – https://www.biospace.com/article/breast-cancer-diagnostics-market-sales-set-to-grow-by-4-7-percent-to-surpass-us-2000-mn-by-2022-end-fact-mr

How Fact.MR Assists in Making Strategic Moves For Gene Therapy Market Manufacturer?

  • The data provided in the Gene Therapy market report offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.
  • The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.

 

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About Fact.MR

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.

Contact:
US Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com

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Categories
Pharmaceutical

Strimvelis Gene Therapy will Surpass US$ 5 Bn by 2026, Exhibiting a Stellar Growth Rate

170 Pages of Market Research Survey Report Published by Fact.MR, A Market Research and Competitive Intelligence Provider Highlights Key Factors Driving the Growth of
Gene Therapy Market Over the Forecast Period 2021-2026

The Fact.MR study on the Gene Therapy market offers insights into key factors affecting market growth trajectory. The survey report reveals insights into drivers propelling the demand outlook in terms of Product, Application , and Region. The report also highlights the scope of Gene Therapy over the assessment period

Gene therapies have emerged as a promising treatment approach to address various diseases such as cancer, and certain inherited disorders with a single curative dosage. Although they are poised to ensure cost savings in the long run, their high initial expenses and uncertainties regarding their prolonged efficacy are an existing challenge for market players. The global gene therapy market revenue will surge over 3X over 2020-2026.

Government agencies including, the Food and Drug Administration (FDA), and the European Medicines Agency (EMA), have approved the usage of drug – Kymriah, and Yescarta – to treat elapsed/refractory B-cell Acute Lymphoblastic Leukemia (ALL), and diffuse large B-cell lymphoma (DLBCL). However, the market uptake of both these gene therapy products have been below par.

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Despite the ongoing issues, the worldwide revenue of gene therapy market will surpass US$ 5 Bn by 2026, exhibiting a stellar growth rate. At-scale investments in the field of gene-related R&D, and increasing number of late-stage gene therapy candidates in oncology and other genetic disorders are likely to oil the growth engine.

Gene Therapy Market Segmentation

The Fact.MR study scrutinizes the global gene therapy market on the basis of product, application and key regions.

Product
  • Yescarta
  • Kymriah
  • Luxturna
  • Strimvelis
  • Gendicine
Application
  • Ophthalmology
  • Oncology
  • Adenosine Deaminase?Deficient Severe Combined Immunodeficiency (ADA-SCID)
Region
  • The US
  • Europe
  • Rest of World

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Key Takeaways of the Gene Therapy Market:

  • In terms of revenue, Yescarta holds prominence in the gene therapy market, while Luxturna stays ahead in terms of annual growth rate.
  • Over half of gene therapy research studies are focused on the field of oncology, attributable to notable rise in caseloads of various cancer types.
  • The US currently represents the most lucrative opportunities in the gene therapy market; while Europe is expected outpace the region towards the end of forecast period.
  • Fast uptake of regulatory bodies in the US and Europe for approval and commercialization of gene therapy products are likely to propel market growth.

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“Cancer types including, DLBCL, and acute lymphoblastic leukemia (ALL) are among the major causes of mortalities across the globe, especially in developed regions. Realizing the immense potential of gene therapy in treating rare diseases, governments are investing in gene therapy treatment centers to increase access to enhanced patient pool”, Says an Analyst at Fact.MR.

Market Players to Establish Proprietary Manufacturing Units

Amidst rising pool of patients suffering from cancer, governments, biopharmaceutical companies, and research institutes are significantly driving their attention towards gene-centric R&D projects. This is setting high hopes for gene therapy market players. However, as a response to increasing costs and delays associated with pulling in third-party contract manufacturers, leading market players are establishing proprietary manufacturing plants.

For instance, Novartis AG has invested US$ 500 Mn to set up its own gene therapy manufacturing facility, following Pfizer Inc. which has allocated US$ 600 Mn for the same. Such a tactic will help manufacturers safeguard proprietary production techniques and deal with concerns issued by regulatory authorities more efficiently.

As third-party contract manufacturers house limited production capacity for upcoming gene therapy methods under development stage, internal manufacturing units in the long run is an imperative for gene therapy market players.

Looking for more information?

The research study on the gene therapy treatment market by Fact.MR includes an in-depth analysis of major demand-driving factors and trends and a comprehensive evaluation of crucial aspects that are projected to carve the growth of the gene therapy market during 2020–2026.

Market statistics have been elucidated based on product (Yescarta, Kymriah, Luxturna, Strimvelis, and Gendicine), application (Ophthalmology, Oncology, and Adenosine Deaminase-deficient Severe Combined Immunodeficiency (ADA-SCID)) and across key regions (The US, Europe and Rest of World).

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About Fact.MR

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in the US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have in our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.

Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
E: sales@factmr.com
Website: https://www.factmr.com

Categories
Pharmaceutical

Gene Therapy Market to hit US$ 5 Billion by 2026; Investment Upsurge in Gene-related R&D Projects to Bolster Growth,Says Fact.MR

Gene Therapy Market size is done based on a triangulation methodology that is primarily based on experimental modelling approaches such as patient-level data or disease epidemiology for any key indications , number of procedures and install base analysis for any equipment to obtain precise market estimations  for the base year as well as in historic data analysis.

The country specific data is again analyzed to derive data at a global level. Specific factors/parameters are considered related to the individual Gene Therapy market and quantified with insightful rationale. Bottom-up approach is always used to obtain Gene Therapy insightful data for the specific country/regions. The study examines key trends that are currently shaping the growth trajectory of gene therapy market.

Click Here To get a Sample Report (Including Full TOC, Table & Figures):-https://www.factmr.com/connectus/sample?flag=S&rep_id=4648

Gene Therapy Market Segmentation

The Fact.MR study scrutinizes the global gene therapy market on the basis of product, application and key regions.

Product
  • Yescarta
  • Kymriah
  • Luxturna
  • Strimvelis
  • Gendicine
Application
  • Ophthalmology
  • Oncology
  • Adenosine Deaminase?Deficient Severe Combined Immunodeficiency (ADA-SCID)
Region
  • The US
  • Europe
  • Rest of World

“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”

The Market survey of Gene Therapy offers a comprehensive analysis of diverse features, including production capacities analysis of Gene Therapy, demand, product developments, revenue generation, and Size of Gene Therapy Market across the globe.

Need More information about Report Methodology? Click here:-https://www.factmr.com/connectus/sample?flag=RM&rep_id=4648

Some Notable Offerings by Fact.MR Report on Gene Therapy market:

  • We will provide you an analysis of the extent to which this Gene Therapy market research report acquires commercial characteristics along with examples or instances of information that helps you to understand it better.
  • We will also help to identify customary/ standard terms and conditions, as offers, worthiness, warranty, and others.
  • Also, this report will help you to identify any trends to forecast growth rates.
  • The analyzed report will forecast the general tendency for supply and demand.

Key Parameters analyzed while estimating the Gene Therapy market include:

To analyze Drugs/ Therapeutic Area in Gene Therapy :

Overall Population by age group/Prevalence or Incidence of any disease/Treatment Seeking Rate/Dosage pattern/Average duration of treatment/Overall treatment cost and Reimbursement are considered.

To analyze Consumables of Gene Therapy:

Overall Population/Prevalence or Incidence of disease/treatment seeking rate/ average duration of the treatment/average number of devices used per patient / average number of procedure per device/ average selling price per device/reimbursement are considered.

To analyze Gene Therapy Equipment:

Number of Healthcare facilities (Hospitals/Ambulatory Surgical Centers/Clinics etc.)

Average number of devices installed per facilities/ lifespan of the devices/replacement rate of the equipment/new sales of the equipment per year/average selling price per equipment are considered.

To get all-in insights on the regional landscape of the Gene Therapy Market, Buy Now:-https://www.factmr.com/checkout/4648

After reading the Market insights of Gene Therapy Report, readers can:

  • Understand the drivers, restraints, opportunities and trends affecting the Sales of market.
  • Analyze key regions holding significant share of total Gene Therapy market revenue.
  • Study the growth outlook of Gene Therapy market scenario, including production, consumption, history and forecast.
  • Learn consumption pattern and impact of each end use & supply side analysis of Gene Therapy market.
  • Investigate the recent R&D projects performed by each market player & competitive analysis of Gene Therapy Market Players.

Key Takeaways of the Gene Therapy Market:

  • In terms of revenue, Yescarta holds prominence in the gene therapy market, while Luxturna stays ahead in terms of annual growth rate.
  • Over half of gene therapy research studies are focused on the field of oncology, attributable to notable rise in caseloads of various cancer types.
  • The US currently represents the most lucrative opportunities in the gene therapy market; while Europe is expected outpace the region towards the end of forecast period.
  • Fast uptake of regulatory bodies in the US and Europe for approval and commercialization of gene therapy products are likely to propel market growth.

Read More Trending Reports of Fact.MR: – https://www.biospace.com/article/medical-education-market-flourishing-on-the-back-of-on-line-mode-of-education-fact-mr/

How Fact.MR Assists in Making Strategic Moves For Gene Therapy Market Manufacturer?

  • The data provided in the Gene Therapy market report offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.
  • The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.

More Related Reports by Fact.MR On Healthcare Sector: 

Veterinary Endodontics Market :_Forecast, Trend Analysis & Competition Tracking – Global Review 2021 to 2031

Therapeutic Support Surface Market:- Forecast, Trend Analysis & Competition Tracking – Global Review 2021 to 2031

Computer-Assisted Orthopedic Surgery Market :-Forecast, Trend Analysis & Competition Tracking – Global Review 2021 to 2031

About Fact.MR

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.

Contact:
US Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates

Visit Our Website: https://www.factmr.com