Global Gene Therapy Market Size Expected to Grow to USD 5.02 Billion by 2028, at 17.0% CAGR: Polaris Market Research

NEW YORK, April 4, 2022 /PRNewswire/ -- Polaris Market Research recently published a research report on "Gene Therapy Market Share, Size, Trends, Industry Analysis Report, By Vector Type (Viral, Non-viral); By Approach (Gene Augmentation, Oncolytic Viral Therapy, Immunotherapy, Others); By Therapeutic Area; By Route of Administration; By Regions; Segment Forecast, 2021 - 2028" in its research database.

According to research report published by Polaris Market Research, the global gene therapy market size & share expected to reach USD 5.02 Billion by 2028 from USD 1.46 Billion in 2020, at a compound annual growth rate (CAGR) of 17.0% during forecast period 2021 to 2028.

What is Gene Therapy? How Big is the Gene Therapy Market?

• Overview

Gene therapy is a medical technique in which DNA is introduced to a patient to treat a genetic disease. There are two different types of gene therapy, namely, somatic and germline therapies. This is a medical approach that allows doctors to treat a disorder by replacing a faulty gene or adding a new gene instead of using drugs or surgery. It can be used to treat some genetic diseases, such as cancer, cystic fibrosis, heart disease, diabetes, hemophilia, and AIDS. Gene therapy involves Replacing and Fixing mutated genes and training your immune system to recognize the cells that are a threat. This approach has produced a revolutionary change in the fields of health sciences and pharmaceuticals.

The number of clinical trials, growing product launches, collaborations, and product developments is anticipated to create a lucrative opportunity for the growth of the gene therapy market during the projected period. However, therapy developers are highly investing in collaboration/mergers and acquisition deals to improve house expertise and build up product pipelines. In certain disorders, gene therapy can furnish a path to produce the functional protein by fixing the fundamental defect.

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Key Questions Answered:

• Who are the leading key players and what are their key business plans in the global gene therapy market?
• What are the key concerns of the five forces analysis?
• What are the different prospects and threats faced by the dealers?
• What are the strengths and weaknesses of the key vendors?
• What are the main trends that have a positive impact on the growth of the global gene therapy market?
• What are the growth opportunities that could emerge in the industry in the coming years?

Top Market Players Are:

• Dimension Therapeutics
• Novartis AG
• Bluebird Bio
• Gilead Sciences Inc.
• Human Stem Cell Institute
• Spark Therapeutics LLC
• Celgene Corporation
• Sangamo Biosciences
• Shire Plc
• GlaxoSmithKline
• Voyager Therapeutics
• Bristol Myer's Squibb
• UniQure NV
• Celgene Corporation

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Gene Therapy Market: Growth Driving Factors

An increase in the funding of private and government organization for research and development is expected to drive the global gene therapy market. The rise in ethical acceptance of gene therapy for cancer treatment increase in the prevalence of cancer is anticipated to boost the market growth. In addition, the rising competition among the major pharmaceutical companies in the support of gene therapy products is expected to positively influence the growth of the gene therapy market. Moreover, unexplored potential for emerging markets is likely to produce profitable opportunities for the manufacturers in the gene therapy industry. In addition, the rising focus to develop effective therapies for cancer is also contributing to the market growth.

Gene Therapy Market: Report Scope

Read Press Release: Gene Therapy Market Size Worth $5.02 Billion by 2028 | CAGR: 17.0%

Gene Therapy Market: Segmentation

• Insight by Therapeutic Area

Based on therapeutic area, the genetic disorders market segment is expected to generate the largest share in 2020. This segment growth can be attributed to the growing prevalence of these disorders and increasing concerns about clinical trials. Also, a strong pipeline of drugs currently being under experiment also fueling the market segment's growth. For instance, Novartis, a major pharma company, is planning to extend the approval of its drug, Kymriah. The drug is established to treat people with hematological cancer in Europe and other middle-income countries.

• Insight by Vector Type

On the basis of vector type, the market is classified into viral and non-viral vectors. Among these, the viral vector segment witnessed the largest market share in 2020 and is expected to continue its dominance over the forecast period. The key factors driving this segment growth include the accuracy of viral vectors in gene delivery, particularly adeno-associated viruses (AAV). In addition, easier modifications of viruses such as Lentivirus, Adeno-Associated Virus (AAV), RetroVirus & Gamma RetroVirus to deliver gene therapy drugs, as well as advancements in DNA, RNA, and oncolytic viral vectors gene therapy are some of the factors expected to boost the market growth.

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Geographic Overview: Gene Therapy Market

North America is anticipated to generate a maximum share in the global gene therapy market. This growth can be attributed to increased funding and financing in cell therapy, the high prevalence rate of cancer, the rise in funding for R&D activities associated with gene therapy, and the presence of high disposable income. In addition, leading companies in this region are focusing on enhancing their product offerings.  Moreover, Asia-Pacific is likely to generate the highest growth during the forecast period due to the increased prevalence of chronic diseases. Also, approval and launch of gene therapy products can positively favor the market development in developed countries, such as Japan, Australia, and New Zealand, thereby boosting the growth of the gene therapy market.

Browse the Detail Report "Gene Therapy Market Share, Size, Trends, Industry Analysis Report, By Vector Type (Viral, Non-viral); By Approach (Gene Augmentation, Oncolytic Viral Therapy, Immunotherapy, Others); By Therapeutic Area; By Route of Administration; By Regions; Segment Forecast, 2021 - 2028" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/gene-therapy-market 

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Highlights of The Report:

• Crucial industry trends in the global gene therapy market to help players develop effective long-term strategies
• Quantitative analysis of the market
• Estimation of the demand for gene therapy across various industries
• Recent developments to understand the competitive scenario
• Trends and outlook coupled with factors driving and restraining the growth of the industry
• Detailed overview and segmentation of the global gene therapy market as well as its dynamics in the industry

Gene Therapy Market: By Therapeutic Area Outlook

• Autoimmune Disorders
• Cardiovascular Diseases
• Dermatological Disorders
• Genetic Disorders
• Hematological Disorders
• Metabolic Disorders
• Muscle-related Diseases
• Oncological Disorders
• Ophthalmic Diseases
• Others

Gene Therapy Market: By Vector Type Outlook

• Viral
• Retroviral vectors
• Gamma-retroviral vectors
• Lentiviral vectors
• Adeno-associated virus vectors
• Other viral vectors
• Non-viral vectors
• Oligonucleotides
• Other non-viral vectors

Gene Therapy Market: By Approach Outlook

• Gene Augmentation
• Oncolytic Viral Therapy
• Immunotherapy
• Others

Gene Therapy Market: By Route of Administration Outlook

• Intraarticular
• Intracerebellar
• Intradermal
• Intramuscular
• Intratumoral
• Intravenous
• Intravesical
• Intravitreal
• Subretinal
• Others

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About Polaris Market Research

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SOURCE Polaris Market Research