Global Gene Therapy Market Report 2023: Sector to Reach $29.52 Billion by 2030 at a 16.8% CAGR

DUBLIN, June 19, 2023 /PRNewswire/ -- The "Global Gene Therapy Market Size, Trends, and Growth Opportunity, By Vector Type, Method, Application, End User By Region and forecast till 2030" report has been added to  ResearchAndMarkets.com's offering.

Global Gene Therapy Market was valued at USD 8.49 billion in 2022 and is slated to reach USD 29.52 billion by 2030 at a CAGR of 16.85% from 2023-2030.

A medical approach called gene therapy targets the underlying genetic problem to treat or prevent disease. By altering a person's genetic makeup, gene therapy methods enable doctors to address an issue without using medications or surgery.

Gene therapy is being used to treat a select few conditions, such as the muscle disorder spinal muscular atrophy and the eye disorder Leber congenital amaurosis. Numerous different gene therapies are being researched to make sure they are reliable and effective. The promising method of genome editing is short to be used by medical practitioners to treat human ailments.

The most crucial requirement for the success of gene therapy is the ability to successfully transport a therapeutic gene to a target cell. That gene must then be delivered to the cell wall's nucleus, where it will act as a template for building protein molecules. The protein then produces the main therapeutic effect.

Market Drivers

Ailments that previously only received temporary therapies now have permanent remedies because of gene therapy. Gene therapy failed for a very long time; nevertheless, in recent years, successful and long-lasting treated instances have been documented. Promising results have been reached for a wide range of genetic ailments, including blood abnormalities, immunological inadequacies, eyesight problems, nerve cell regeneration, metabolic disorders, and several cancer kinds.

Gene therapy has the potential to be a personalized treatment that can 'cure' a range of diseases with more specificity and fewer negative effects. Gene therapy is the practice of transferring genetic material to a patient to treat an ailment or, at the very least, improve their clinical condition.

One way that gene therapy works is by using viruses as genetic carriers to transfer the desired gene to the target cells. Depending on the kind of genome they contain, these vectors are categorized as either RNA-based or DNA-based viral vectors.

In numerous countries in the Region, genetic and congenital illnesses account for a considerable portion of pregnancy and neonatal mortality. Genetic factors frequently have a role in the development of several complex diseases. Numerous genetic disorders are caused by gene variations, which are essentially present in every cell in the body. As a result, these disorders typically affect a variety of bodily systems, and the majority of them are incurable.

Market Restraints

Gene therapy is a novel branch of medicine that includes adding, erasing, or altering genetic material in a patient's genome to treat a disease. Gene therapy, though still in its infancy, has already demonstrated significant promise for the treatment and even cure of previously incurable diseases. In many countries, the cost of gene therapy is still very loosely regulated and decided on an individual basis, typically centered around a single upfront payment.

Recent Developments

The FDA approved Adstiladrin (nadofaragene firadenovec-vncg), a novel adenovirus vector-based gene therapy, for the treatment of adult patients with high-risk, Bacillus Calmette-Guerin (BCG)-resistant non-muscle invasive bladder cancer (NMIBC) with carcinoma in situ (CIS) with or without papillary tumors, according to Ferring Pharmaceuticals' announcement in December. This has aided the business in diversifying its product line.

For adult patients with relapsed or refractory follicular lymphoma following two or more lines of systemic therapy, Novartis AG (Switzerland) received FDA approval for KYMRIAH in May 2022.

Market Taxonomy
By Vector Type

• Viral Vector
• Non-Viral Vector

By Method

• Ex-Vivo
• In-Vivo

By Application

• Oncological Disorders
• Cardiovascular Diseases
• Infectious Disease
• Rare Diseases
• Neurological Disorders
• Other Diseases

By End User

• Cancer Institutes
• Hospitals
• Research Institutes
• Others

By Region
North America

• U.S
• Canada
• Mexico

Latin America

• Brazil
• Argentina
• Colombia
• Peru
• Chile
• Venezuela
• Rest of Latin America

Europe

• Germany
• France
• UK
• Russia
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Australia
• New Zealand
• Singapore
• Malaysia
• Rest of Asia Pacific

Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest Middle East & Africa

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Global Gene Therapy Market Outlook

5 Global Gene Therapy Market, By Vector Type

6 Global Gene Therapy Market, By Application

7 Global Gene Therapy Market, By Method

8 Global Gene Therapy Market, By End User

9 Global Gene Therapy Market, By Region

10 North America Gene Therapy Market Analysis and Forecast (2023-2030)

11 Europe Gene Therapy Market Analysis and Forecast (2023-2030)

12 Asia Pacific Gene Therapy Market Analysis and Forecast (2023-2030)

13 Latin America Gene Therapy Market Analysis and Forecast (2023-2030)

14 Middle East Gene Therapy Market Analysis and Forecast (2023-2030)

15 Competitive Analysis

16 Company Profiles

Companies Mentioned

• Novartis AG
• Enzyvant Therapeutics GmbHAudubon Bioscience
• Kite Pharma (a subsidiary of Gilead Sciences Inc.)
• Oxford Biomedica
• Amgen Inc.
• AnGes Inc.
• bluebird bio Inc.
• Shanghai Sunway Biotech Co. Ltd.
• Dendreon Pharmaceuticals LLC.
• Spark Therapeutics Inc.

For more information about this report visit https://www.researchandmarkets.com/r/bubeap

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