SAN FRANCISCO, Aug. 11, 2022 /PRNewswire/ -- The global gene therapy market size is expected to reach USD 10.0 billion by 2028 registering a CAGR of 20.4% during the forecast period, according to a new report by Grand View Research, Inc. The market growth is attributed to the increasing prevalence of cancer coupled with the lack of effective treatment for the disease. Constant expansion of cancer genetic studies has deciphered relevant information about cancer-related molecular signatures.
Key Industry Insights & Findings from the report:
- Viral vectors have proven their efficiency as a method for effective gene deliveries. As a result, a substantial number of research communities and biotechnology companies have designed their gene therapy programs based on viral vectors.
- Moreover, most of currently FDA-secured products involve the use of viral vectors, which contributes to the dominance of the viral vectors segment.
- Due to the approval and huge success of lentivirus-based Kymriah and retrovirus-based Yescarta, retrovirus and lentivirus are also among the key revenue-generating segments.
- Cancer has led the revenue flow in the market over the past few years and is expected to maintain its dominance in the forecast period.
- The presence of approved products for various cancer forms including Large B-cell lymphoma, Acute Lymphoblastic Leukemia (ALL), and melanoma has resulted in the dominance of this segment.
- The U.S. is recognized as the hub for clinical trials related to gene therapy. This has significantly impacted the revenue growth of the North America market.
- Also, the success of Yescarta and Kymriah in the U.S. as the first approved CAR-t therapy programs has driven huge investments by various government agencies, sponsors, and key companies in this region.
- Major market participants are partnering with other key stakeholders via signing licensing, commercialization, and development deals to enhance their worldwide business operations.
- For instance, in June 2020, uniQure announced a license agreement with CSL Behring for the commercialization of hemophilia B gene therapy.
Read 180 page full market research report for more Insights, "Gene Therapy Market Size, Share & Trends Analysis Report By Indication (Large B-cell Lymphoma, Beta-Thalassemia Major/SCD), By Vector Type (Lentivirus, AAV), By Region, And Segment Forecasts, 2021 - 2028", published by Grand View Research.
Gene Therapy Market Growth & Trends
This has driven the clinical trials for advanced cancer therapeutics, thereby driving the market growth. In addition, expansion of this mode of treatment in non-cancer applications with approval of therapies, such as approval of Bluebird Bio's Zynteglo in June 2019 for β-thalassemia and others, demonstrates the shift in the preferences of companies towards other unsaturated segments.
Various universities and institutes are observed to exhibit a broad portfolio in the pipeline, which is anticipated to boost revenue generation in the future. The market is anticipated to witnesses a short-term revenue slowdown due to a shift in focus and delay in product launches. However, initiatives for developing novel trial designs, improving the regulatory environment, and managing the supply chain are expected to play a critical role in minimizing the impact of the current global crisis.
Gene Therapy Market Segmentation
Grand View Research has segmented the global gene therapy market on the basis of indication, vector type, and region:
Gene Therapy Market - Indication Outlook (Revenue, USD Million, 2017 - 2028)
- Acute Lymphoblastic Leukemia (ALL)
- Inherited Retinal Disease
- Large B-cell Lymphoma
- Melanoma (lesions)
- Beta-Thalassemia Major/SCD
- Head & Neck Squamous Cell Carcinoma
- Peripheral Arterial Disease
- Spinal Muscular Atrophy (SMA)
Gene Therapy Market - Vector Type Outlook (Revenue, USD Million, 2017 - 2028)
- Retrovirus & gamma Retrovirus
- Modified Herpes Simplex Virus
- Non-viral Plasmid Vector
Gene Therapy Market - Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- Asia Pacific
- Rest of the World
List of Key Players of Gene Therapy Market
- REGENXBIO, Inc.
- Oxford BioMedica plc
- Dimension Therapeutics, Inc.
- Bristol-Myers Squibb Company
- Applied Genetic Technologies Corporation
- F. Hoffmann-La Roche Ltd.
- Bluebird Bio, Inc.
- Novartis AG
- Taxus Cardium Pharmaceuticals Group, Inc. (Gene Biotherapeutics)
- UniQure N.V.
- Shire Plc
- Cellectis S.A.
- Sangamo Therapeutics, Inc.
- Orchard Therapeutics
- Gilead Lifesciences, Inc.
- Benitec Biopharma Ltd.
- Sibiono GeneTech Co., Ltd.
- Shanghai Sunway Biotech Co., Ltd.
- Gensight Biologics S.A.
- Calimmune, Inc.
- Epeius Biotechnologies Corp.
- Astellas Pharma, Inc.
- American Gene Technologies
- BioMarin Pharmaceuticals, Inc.
Check out more related studies published by Grand View Research:
- Cell And Gene Therapy Manufacturing Market - The global cell and gene therapy manufacturing market size is expected to reach USD 57.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is estimated to expand at a CAGR of 20.3% from 2021 to 2028. An exponential rise in clinical pipeline coupled with a rising number of regulatory approvals for advanced therapies has majorly driven the market.
- Gene Expression Market - The global gene expression market size is anticipated to reach USD 19.4 billion by 2028 registering a CAGR of 9.96% from 2021 to 2028, according to a new report by Grand View Research, Inc. Rise in investments for the development of alternative drug discovery approaches coupled with an increase in research activities for genetic studies is expected to drive the global market.
- Gene Synthesis Market - The global gene synthesis market size is expected to reach USD 5.58 billion by 2028, growing at a CAGR of 18.1% during the forecast period, according to a new report by Grand View Research, Inc. Gene synthesis space is offering enormous potential for new biological functionality. This has resulted in the introduction of supportive government policies associated with synthetic biology, thereby driving the market.
Browse through Grand View Research's Biotechnology Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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