Gene Therapy Market Research Report: Information By Product Type (Kymriah, Luxturna, Yescarta, Zolgensma, Zynteglo), By Indication (Oncology And Genetic Diseases), By End Users(Hospitals & Clinics, Specialty Treatment Centers), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030
The Gene Therapy Market Size is expected to reach USD 3.22 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 19.10% during the forecast period (2023 – 2030). Rising number of gene therapy products approved and the rising amount of money spent on research & development are the key market drivers enhancing the market growth. The gene therapy market refers to the commercial and economic aspects of the development, production, and distribution of gene therapies. Gene therapy is a medical intervention that involves modifying a patient’s genes to treat or cure genetic diseases. The gene therapy market includes the companies, products, and services related to the research, development, clinical testing, regulatory approval, manufacturing, and distribution of gene therapies. It is a rapidly evolving and growing field with the potential to revolutionize the treatment of a wide range of genetic disorders.
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The COVID-19 pandemic has highlighted the importance of developing new and innovative treatments for diseases, including genetic disorders. This has led to increased funding and investment in gene therapy research and development, as well as accelerated regulatory approvals for some gene therapy products. the pandemic has also disrupted many aspects of the gene therapy market, such as clinical trials, manufacturing, and supply chain logistics. The need for social distancing measures and restrictions on travel have made it challenging to recruit patients for clinical trials, while disruptions to global supply chains have led to shortages of some critical raw materials and equipment needed for gene therapy manufacturing.
Market Segmentation
The Global Gene Therapy market has been segmented into Indication and Technology
Based on the Indication, the market has been segmented into Cancer, Metabolic Disorders, Eye Disorders, Spinal Muscular Atrophy, and Other Indications.
Based on the Technology, the market has been segmented into Adeno Virus Vector, Adeno-associated Virus Vector, Lentiviral Vector, Retroviral Vector, Herpes Virus Vector, and Other Technologies.
Key Players
Some of the key market players are
- Spark Therapeutics
- Bluebird Bio
- Novartis
- Pfizer
- UniQure
- Sangamo Therapeutics
- Intellia Therapeutics
- Editas Medicine
Gene Therapy Market Regional Analysis
North America is currently the largest market for gene therapy, with the United States being the major contributor to the market’s growth. The region has a well-established healthcare infrastructure, a high number of research and development activities, and a growing number of partnerships and collaborations among industry players, which has propelled the growth of the market in North America.
Europe is the second-largest market for gene therapy, and the growth is primarily driven by the increasing prevalence of genetic disorders and the growing number of clinical trials and research activities. Moreover, the presence of well-established healthcare infrastructure and the increasing investments in research and development activities have also contributed to the growth of the market in Europe.
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The Asia Pacific region is expected to witness significant growth in the gene therapy market due to the increasing prevalence of genetic disorders, the rising healthcare expenditure, and the growing number of clinical trials and research activities. Moreover, the increasing adoption of advanced gene therapy technologies and the growing number of partnerships and collaborations among industry players are expected to drive the growth of the market in the region.
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