$12 billion from the global gene therapy industry by 2031 –
Dublin, June 23, 2022 (GLOBE NEWSWIRE) — The “Global Gene Therapy Market Report 2022, Vector, Application, End Users” report has been added to from ResearchAndMarkets.com offer.
This report provides strategists, marketers, and senior management with the essential information they need to assess the global gene therapy market.
This report focuses on the high growth Gene Therapy market market. The report gives a market guide to the gene therapy market that will shape and change our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
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Where is the largest and fastest growing market for the gene therapy market? What is the relationship between the market and the overall economy, demographics and other similar markets? What forces will shape the market in the future? The global gene therapy market report answers all these questions and more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces historical and forecast market growth by geography. It places the market in the context of the broader gene therapy market and compares it to other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size (in billions of dollars) covering both historical market growth, the influence of the Covid 19 virus and its growth forecast.
- Market segmentations break down the market into sub-markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the market size by geography and compares their historical and forecast growth. It covers the growth trajectory of Covid 19 for all regions, major developed countries and major emerging markets.
- The competitive landscape gives a description of the competitive nature of the market, market shares and a description of the major companies. The main financial transactions that have shaped the market in recent years are identified.
- The trends and strategies section analyzes the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The gene therapy market section of the report provides context. It compares the gene therapy market market with other segments of the gene therapy market by size and growth, historical and forecast. It analyzes the proportion of GDP, expenditure per capita, the comparison of gene therapy market indicators.
Key players in the gene therapy market include Novartis AG, Bluebird Bio Inc., Spark Therapeutics Inc., Audentes Therapeutics, Voyager Therapeutics, Applied Genetic Technologies Corporation, UniQure NV, Celgene Corporation, Cellectis SA, and Sangamo Therapeutics.
The global gene therapy market is expected to grow from $3.18 billion in 2020 to $3.97 billion in 2021 at a compound annual growth rate (CAGR) of 24.8%. The growth is primarily due to businesses resuming operations and adjusting to the new normal while recovering from the impact of COVID-19, which previously led to restrictive lockdown measures involving social distancing, remote work and the closure of business activities that have resulted in operational challenges. The market is expected to reach $12.16 billion in 2025 with a CAGR of 32%.
The gene therapy market includes sales of gene therapy-related services by entities (organizations, independent marketers, and partnerships) that manufacture gene therapy drugs. Gene therapy is used to replace faulty genes or add new genes to cure disease or improve the body’s ability to fight disease. Only goods and services exchanged between entities or sold to final consumers are included.
The main types of vectors in gene therapy are viral vectors, non-viral vectors, others. Viral vectors are methods that molecular biologists often use to transmit genetic material into cells. It is used in oncological disorders, rare diseases, cardiovascular diseases, neurological disorders, infectious diseases, etc. and implemented in various sectors such as hospitals, home care, specialized clinics, others.
Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The incidence of cancer and other target diseases has increased dramatically, requiring effective treatments, which is driving the growth of the gene therapy market. Rising number of cancer cases globally is expected to contribute to the growth of the gene therapy market over the forecast period. According to the American Cancer Society, there were 1.7 million new cases and 0.6 million cancer deaths in 2019 in the United States.
The four most common types of cancer worldwide are lung, prostate, bowel and breast cancer in women, accounting for 43% of all new cancer cases.
Hence, increasing incidence rate of cancer across the world is expected to drive the demand for the gene therapy market over the coming years. Gene therapy is one of the most effective treatments in oncology. In this treatment, new genes are introduced into a cancer cell or surrounding tissue to cause cell death or slow cancer growth. For example, in September 2019, RMIT University, Australia discovered that non-viral gene therapy can be used to accelerate cancer research, which can bring patient-friendly cancer treatments to market.
High gene therapy drug prices are expected to limit the growth of the gene therapy market. The pressure to contain costs and demonstrate value is pervasive. Political uncertainty and continuing economic tensions in many countries call into question the sustainability of public financing of health care. In less affluent countries, the lack of cost-effective therapies for cancer and other diseases has influenced the health conditions of the population and led to a low average life expectancy.
Luxturna, a one-time treatment for acquired retinal eye disease, costs $850,000 in the US and £613,410 in the UK, despite a discount applied by the UK National Health Service. Zolgensma, for spinal muscular atrophy, is valued at $2.1 million in the United States and Zynteglo, which focuses on a rare genetic blood disorder, costs $1.78 million, restraining market growth.
The use of machine learning and artificial intelligence is gradually gaining popularity in the gene therapy market. Artificial intelligence (AI) is the simulation of human intelligence in machines, which are programmed to display their natural intelligence. Machine learning is part of AI. Machine learning and AI are helping companies in the gene therapy market to perform detailed analysis of all relevant data, provide insights into tumor-immune cell interactions, and offer more accurate assessment of tissue samples often in conflict between different evaluators.
Main topics covered:
2. Characteristics of Gene Therapy Market
3. Gene Therapy Market Trends and Strategies
4. Impact of COVID-19 on gene therapy
5. Gene Therapy Market Size and Growth
5.1. Global historical gene therapy market, 2016-2021, USD billion
5.1.1. Market Drivers
5.1.2. Market Constraints
5.2. Global Gene Therapy Market Forecast, 2021-2026F, 2031F, Billion USD
5.2.1. Market Drivers
5.2.2. Market Constraints
6. Gene Therapy Market Segmentation
6.1. Global Gene Therapy Market, Segmentation by Vector, History and Forecast, 2016-2021, 2021-2026F, 2031F, Billion USD
- viral vector
- Non-viral vector
6.2. Global Gene Therapy Market, Segmentation by Application, History and Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
- Oncological disorders
- Rare diseases
- Cardiovascular illnesses
- Neurological disorders
- Infectious diseases
6.3. Global Gene Therapy Market, Segmentation by End Users, History and Forecast, 2016-2021, 2021-2026F, 2031F, Billion USD
- Home Care
- Specialized clinics
7. Regional and Country Analysis of the Gene Therapy Market
7.1. Global Gene Therapy Market, Split by Region, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
7.2. Global Gene Therapy Market, Split by Country, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
For more information on this report, visit https://www.researchandmarkets.com/r/syieec