DELRAY BEACH, Fla., Feb. 20, 2025 /PRNewswire/ -- The global Gene Therapy market, valued at US$7.21 billion in 2023, is forecasted to grow at a robust CAGR of 19.4%, reaching US$8.85 billion in 2024 and an impressive US$36.55 billion by 2032. Market growth is attributed to factors such as the growing demand for curative therapies for genetic disorders, rare diseases, and specific types of cancer, robust clinical trial pipeline for gene therapy and increasing investments in gene therapy research. For instance, according to M&M, around 19 gene therapy products are expected to be launched between 2026 to 2032, and which will contribute closely to 25% of the 36.55 B market in 2032.
However, high cost of gene therapy products and Complex regulatory frameworks and ethical concerns regarding genetic modifications are expected to hinder the market growth over the forecast period.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=122857962
Browse in-depth TOC on "Gene Therapy Market"
660 - Tables
60 - Figures
433 - Pages
Based on therapy type, the gene therapy market is segmented into gene silencing therapy, cell replacement therapy, gene augmentation therapy and other therapies. The gene silencing therapy segment accounted for the largest share of the gene therapy market. This can be owing to the availability of many approved and commercialized gene therapies employing gene silencing mechanism of action in the current market, effectiveness of gene silencing mechanism against major indications in neurology.
Among vector segment, the gene therapy market is segmented into viral vectors and non-viral vector. The viral vectors segment accounted for the largest share of the gene therapy market. The large share of this segment can be owing to the the high market penetration of viral vector-based gene therapies and advantages of viral vectors over non-viral vectors.
Among scale of operation segment, the gene therapy market is segmented into manufacturing-scale operations, pilot-scale operations, and R&D-scale operations. The manufacturing-scale operations segment accounted for the largest share of the gene therapy market. The large share of this segment can be owing to the growth in biologics and biosimilar manufacturing. Additionally, increasing number of biopharmaceuticals receiving regulatory approvals for production and the launch of biosimilars in the market is propelling the growth of the segment in gene therapy market.
Among gene type segment, the gene therapy market is segmented into deficiency, receptors, antigen, cytokine, tumour suppressor, other gene. The deficiency segment accounted for the largest share of the gene therapy market. Increasing number of prevalence of rare genetic disorders caused due to deficiency of particular gene type, and approval of gene therapies for such rare diseases are the major factors driving the growth of this segment.
Based on region, The gene therapy market is segmented by region into six key regions: North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. In 2023, North America led the market, followed by Europe in second place and the Asia Pacific in third. North America is expected to experience the highest growth rate during the forecast period. Factors driving this regional growth include the expansion of R&D activities, rising demand for gene therapies, increasing fundings and investments in biopharmaceutical industries for conducting extensive research on advanced therapies.
In addition, the US accounted for the largest market share in the North American gene therapy market. Major share of the country is determined by factors like well-established pharmaceutical and biotechnology sector, rising approvals of innovative gene therapies, increasing incidences of diseases like cancer along with high funding for the life sciences research are also contributing to the major share of the country. For example, according to the National Cancer Institute, there were nearly 2 million people who were suffering from cancer cases in 2023 in US. The current treatment options will cater to the unmet demands if gene therapies are employed. Since advanced manufacturing technologies is used in the R&D and production of gene therapies, it is likely that these factors will create a large number of opportunities for the growth of the gene therapy market.
Europe is the second largest market after North America. The availability of government funding, growth in the biotechnology and pharmaceutical sectors, and the rise in the number of conferences, symposia, seminars, trade fairs, annual events, and workshops being organized in Europe that focus on creating awareness about gene therapies and are expected to drive the growth of the market in the region. These factors help increase awareness about current technological advancements and aid in the discussion of various challenges and opportunities prevailing in the industry. Such events also offer market players the opportunity to showcase their products and communicate with stakeholders while helping scientists and researchers to exchange experiences. According to the Alliance for Regenerative Medicine (ARM), a global advocate for regenerative and advanced therapies, out of 843 regenerative medicine companies globally, Europe houses 234.
Moreover, in 2023, the Asia Pacific is third largest market for gene therapies. This surge in the regional market is attributed to various factors such as government backing for advanced manufacturing technologies and innovative gene therapies, expansion initiatives by key market players in emerging Asian economies, heightened therapy manufacturing capacities of major companies, increased research and development investments by biotechnology and pharmaceutical firms, collaborative ventures in bioprocessing, a growing elderly population, amplified focus on regenerative medicine research, and the upsurge in preclinical/clinical research particularly in China and India, is expected to drive the gene therapy market in Asia Pacific.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=122857962
Biogen Inc. (US), Novartis AG (Switzerland), and Alnylam Pharmaceuticals, Inc. (US) are holding significant global market share, and the global Gene Therapy market is highly consolidated.
Biogen Inc. (US)
In 2023, Biogen had the largest share in gene therapy market. Biogen is a biotechnology company specializing in developing therapies for diseases like multiple sclerosis, spinal muscular atrophy, and Alzheimer's disease. Stronge pipeline aims to develop novel therapeutics with potential across multiple therapeutic areas, including neurology, neuropsychiatry, specialty immunology and rare diseases. High investments on R&D for novel therapies like gene therapies soar their credibility in global market. Biogen spent USD 2.46 billion on R&D in 2023. Additionally, by having a strong distribution channel and solid pipeline products enables Biogen to gain competitive share in the global gene therapy market.
Novartis AG (Switzerland)
Novartis is one of the leading players in gene therapy market. The company's products such as Zolgensma (onasemnogene abeparvovec-xioi) are major contributors to the gene therapy market. The company also has a strong geographic presence with distribution channels across North America, Europe, Asia Pacific, Latin America, and Africa. The company is focusing on inorganic growth strategies such as acquisition and collaboration for the development of innovative gene therapy products which supports its leading position in the gene therapy market. For instance, in November 2024, Novartis acquired Kate Therapeutics, gaining access to the latter's proprietary DELIVER capsid engineering platform, which is expected to help with potent and selective gene therapy development.
Alnylam Pharmaceuticals, Inc. (US)
Alnylam is one of the leading players in the gene therapy market. The company has a broad pipeline, including four approved products and multiple late and early-stage investigational RNAi therapeutics. The company focused on four major therapeutic areas such as Genetic Medicines, Cardio-Metabolic Diseases, Hepatic Infectious Diseases, and CNS/Ocular Diseases. The company is focusing on collaboration and acquisition to develop the innovative therapies. For instance, in July 2023, Alnylam Pharmaceuticals signed an agreement with Roche to develop and commercialize zilebesiran, Alnylam's investigational RNAi therapeutic for treating hypertension, which is currently in Phase 2 of development.
For more information, Inquire Now!
Related Reports:
Biologics Safety Testing Market
Viral Vector & Plasmid DNA Manufacturing Market
Bioinformatics Market
Next Generation Sequencing Market
Stem Cell Therapy Market
Get access to the latest updates on Gene Therapy Companies and Gene Therapy Market Size
About MarketsandMarkets:
MarketsandMarkets has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/
Logo: https://mma.prnewswire.com/media/1868219/MarketsandMarkets_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/gene-therapy-market-to-hit-usd-36-55-billion-by-2032-with-19-4-cagr--marketsandmarkets-302381173.html
