Global Gene Therapy Market Report 2022: Rising Prevalence

DUBLIN, Jan. 24, 2023 (GLOBE NEWSWIRE) — “Global Gene Therapy Market – Forecasts 2022 To 2027” report has been added to ResearchAndMarkets.com an offer.

The global gene therapy market is expected to grow at a CAGR of 18.39% during the forecast period to reach US$11.769 billion by 2027 from US$3.611 billion in 2020.

Gene therapy refers to a medical process that modifies or solves an individual’s underlying genetic problem and thus prevents disease. This therapy has a high applicability in treating major diseases such as cancer, diabetes, heart disease and HIV among others, as its ability to replace unhealthy genes with new ones provides the body with the ability to fight such diseases.

Unhealthy food consumption, lifestyle factors, and the increasing prevalence of obesity, along with a rapid population increase and economic downturn, have led to an increased prevalence of chronic and infectious diseases such as cancer, diabetes, HIV, and heart disease.

For example, according to the World Health Organization, in 2020, the number of deaths that occurred due to cancer globally reached 10 million, and the number of deaths due to breast cancer reached 2.26 million, followed by lung cancer at 2.21 million. Moreover, according to US government HIV.gov data, in 2021, 1.2 million people in the US will be diagnosed with HIV.

Moreover, according to the 2020 Health and Glance report by the European Commission, in 2019 the total number of people diagnosed with diabetes reached 32.3 million, showing a significant growth of 92.2% from the cases reported in 2000. Due to the prevalence With the rapidly increasing incidence of diabetes as such a major disease, the demand for gene therapy products is also expected to increase, thus boosting the growth of the global gene therapy market during the forecast period.

On the basis of vector type, the global gene therapy market is segmented into viral and non-viral vectors. The non-viral vector is expected to grow at a relatively higher rate during the forecast period in the global gene therapy market. The nonviral vector is low cost, easy to produce, has better targeting to cells or tissues, and offers biosafety advantages over a viral vector making the nonviral vector safer to use for gene delivery.

Due to the rich performance benefits, the non-viral vector has a higher preference over the viral vector, and with the increase in the number of major infectious and non-communicable diseases such as cancer, diabetes and AIDS, the demand for non-viral diseases is also expected to increase viral vectors for gene therapy, thus improving its segment as well Total market growth over the forecast period.

The increasing establishment of gene therapy manufacturing plants by major companies is fueling the growth of the global gene therapy market. Many companies realizing the importance of gene therapy and its efficacy against a wide range of deadly diseases are actively investing in botanical innovations and enterprises to increase their production of gene therapy products.

For example, in June 2022 REGEXBIO announced the construction of its new gene therapy manufacturing center in Rockville, Maryland, where the company will enhance the manufacture of adenovirus vectors using the company’s NAV technology. Moreover, in December 2021, Pfizer opened its new gene manufacturing plant in Durham, NC, where the company will boost the production of multiplex gene therapy medicine. These manufacturing plant enterprises will increase the demand and scope of use of gene therapy in the future, thus promoting market growth in the global gene therapy market during the forecast period.

report attribute details
number of pages 152
forecast period 2020 – 2027
Estimated market value (in US dollars) in 2020 $3.61 billion
Projected market value (in USD) by 2027 $11.77 billion
The total annual growth rate 18.3%
covered areas worldwide

Recent developments:

  • In October 2022, Elli Lily and Company signed an agreement to acquire Akouos for US$610 million. The acquisition will enable Elli Lily to add key gene therapy products for Akouos such as AK-OTOF which is used to treat hearing loss caused by otoferlin gene mutations.
  • In August 2022, Cytiva teamed up with Forecyte Bio to accelerate the manufacturing and development of the gene therapy industry in the US and China markets. The company’s collaboration will increase patient access to gene therapy.

Market Segmentation:
Depending on the type of treatment

By type of vector

depending on the type of technology

  • Gene increase
  • Gene inhibition
  • Kill a specific cell

depending on the type of disease

  • cancer
  • My heart disease
  • diabetes
  • Immunity deficiency Virus
  • others

By geography

  • North Amarica
  • United States of America
  • Canada
  • Mexico
  • South america
  • Brazil
  • Argentina
  • others
  • Europe
  • Germany
  • France
  • United kingdom
  • Italy
  • Spain
  • others
  • Middle East and Africa
  • Saudi Arabia
  • Israel
  • The United Arab Emirates
  • others
  • Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Indonesia
  • Thailand
  • Taiwan
  • others

Main topics covered:

1 Introduction

2. Research methodology

3. Executive summary

4. Market dynamics

5. Global Gene Therapy Market by Type of Therapy

6. Global Gene Therapy Market by Type of Vector

7. Global Gene Therapy Market, by Technical Type

8. Global Gene Therapy Market by Disease Type

9. Global Gene Therapy Market by Geography

10. Competitive environment and analysis

11. Company profiles

mentioned companies

  • Novartis
  • Pfizer
  • San Rocco Remedies
  • American Gene Technologies
  • Everick Bio, Inc
  • Lysogene
  • Avrobio Corporation
  • Adverum Biotechnologies Inc
  • Spark Therapeutics, Inc.

For more information on this report, visit https://www.researchandmarkets.com/r/2w5ep8-gene?

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