According to a new report published by Allied Market Research, titled, “Gene Therapy Market," The Gene Therapy Market Size was valued at $6.0 billion in 2020 and is estimated to reach $46.5 billion by 2030, growing at a CAGR of 22.8% from 2021 to 2030.
Gene therapies are treatments that are applicable to a broad range of diseases. They radically treat the cause of the diseases, instead of only relieving the symptoms. Furthermore, they may be effective on a wide range of previously untreated diseases, such as hematological, ocular, neurodegenerative diseases, and several cancers. For example, adeno-associated AAV2 vectors carrying the therapeutic gene (RPE65) administered via intra-retinal injection resulted in improved vision for people with Leber’s congenital amaurosis. These therapies can be applied either in combination with cell products and through an ex vivo treatment mode, such as Strimvelis or directly administered in vitro, for example, Glybera. Several vectors present clinically relevant options, including adenovirus (AV), adeno-associated virus (AAV), and lentivirus.
High investments for R&D activities pertaining to gene therapy and an increase in awareness regarding gene therapy boost the Gene Therapy Market Growth In addition, an increase in government support, ethical acceptance of gene therapy for cancer treatment, and a rise in the prevalence of cancer are other factors expected to fuel the Gene Therapy Market Growth. However, the high cost associated with the treatment and unwanted immune responses is expected to impede the growth of the market.
The Gene Therapy Industry is segmented on the basis of vector type, gene type, application, and region. On the basis of vector type, it is bifurcated into viral and non-viral vectors. The viral vector segment is further segmented into retroviruses, lentiviruses, adenoviruses, adeno-associated viruses, herpes simplex viruses, poxvirus, vaccinia virus, and others. The non-viral vector segment is further categorized into naked/plasmid vectors, gene gun, electroporation, lipofection, and others. By therapy type, the market is classified into ex vivo therapy and in vivo therapy. By gene type, the market is classified into antigen, cytokine, tumor suppressor, suicide, deficiency, growth factors, receptors, and others.
By application, it is divided into oncological disorders, rare diseases, neurological disorders, and other diseases. Region-wise, Gene Therapy Market Analysis is done across North America, Europe, Asia-Pacific, and LAMEA.
By vector type, the non-viral vector segment is the highest Gene Therapy Market Share and accounted for the largest segment in 2020 and is expected and is anticipated to be a lucrative market due to technological advancements in these vectors with positive results during the preclinical and clinical trials for the treatment of various diseases.
By gene type, the antigen segment dominated the market in 2020 and the deficiency segment is the fastest-growing segment during the forecast period. By application, the oncological disorders segment dominated the market in 2020 and is anticipated to be a lucrative market.
In 2020, North America accounted for the maximum Gene Therapy Market Share, owing to a high prevalence rate of cancer, the presence of high disposable income, and an increase in funding for R&D activities associated with gene therapy. However, Asia-Pacific is expected to witness the highest CAGR during the analysis period, attributable to a rise in the incidence rate of cancer, an increase in government initiatives to improve healthcare infrastructure, and a rise in healthcare expenditure.
The key players operating in the global Gene Therapy Industry include Novartis AG, Gilead Sciences., Jazz Pharmaceuticals, Orchard Therapeutics., Bristol-Myers Squibb., Amgen Inc., Shenzhen SiBiono Genentech, Shanghai Sunway Biotech Co., Ltd., Adaptimmune Therapeutics plc, Adverum Biotechnologies, Inc., Abeona Therapeutics Inc., Applied Genetic Technologies Corporation, Amgen Inc., Astellas Therapeutics, Inc., Bluebird Bio, Inc., CRISPR Therapeutics AG, Intellia Therapeutics, Inc., REGENXBIO Inc., Sangamo Therapeutics, Inc., Unique N. V., Voyager Therapeutics, Inc., Merck and Co Inc., and Dendron Corporation.
KEY FINDINGS OF THE STUDY
- By vector type, the non-viral vector segment was the highest contributor to Gene Therapy Market Size in 2020.
- By gene type, the antigen gene segment type dominated the market in 2020.
- By application, the oncological disorders segment dominated the market in 2020 and is expected to continue this trend during the forecast period.
- Region-wise, North America garnered the largest revenue share in 2020; however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.