Gene Therapy Market Overview: Forecast Market Size, Major Driver, Key Trends And Largest Region - By The Business Research Company

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Apr 10, 2023, 08:31 ET

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

LONDON , April 10, 2023 /PRNewswire/ -- As per The Business Research Company's Gene Therapy Global Market Report 2023, the global gene therapy market size will grow from $7.3 billion in 2022 to $9.4 billion in 2023 at a compound annual growth rate (CAGR) of more than 27%. The gene therapy market share is then expected to grow from $24 billion in 2027 at a CAGR of more than 26%.

Increasing number of cancer cases is expected to drive the growth of the gene therapy market during the forecast period. Cancer gene therapy is an emerging field using genetic material to modify cells in vitro or in vivo to help effect a cure. In gene therapy, a therapeutic human-designed new gene (transgene) is used to introduce to a subpopulation of human cells, such as human stem cells. For a cancer cell, the transgene can assist cell death or restore normal cellular functions, whereas for normal cells the transgene can protect them from drug-induced side effects and/or cytotoxicity. For example, according to the American Cancer Society, a US-based voluntary health organization, a total of 1.9 million new cancer cases and 609,360 deaths from cancer were expected to occur in the USA in 2022, which is about 1,670 deaths a day. Therefore, the increase in the number of cases of cancer is expected to contribute to the gene therapy market growth going forward.

Learn More On The Gene Therapy Market Report – https://www.thebusinessresearchcompany.com/report/genes-therapy-global-market-report

Mergers and acquisitions are a key trend in the gene therapy market, that has been ongoing for many years and is expected to continue in the future. This trend is a common way for companies to grow and diversify their operations, it can also be a way for companies to cut costs, reduce competition and boost their competitiveness in the market.

For instance, in June 2020, Innovent Biologics, Inc., a China-based biotechnology and biopharmaceutical company, announced a strategic collaboration with F. Hoffmann-La Roche AG (Roche), a Switzerland-based pharmaceutical and healthcare company, for the research and development of cellular therapies and bispecific antibodies with an investment of $2 billion. This collaboration will help in the treatment of cancer, metabolic, autoimmune and other major diseases through gene therapy and bispecific antibodies.

Other gene therapy market trend-based strategies for players include growing investments and manufacturing facility expansion, use of tetracycline-enabled self-silencing adenovirus (TESSA) technology, launch of cell and gene therapy platforms, and rising focus on gene editing.

Request A Free Sample Of The Gene Therapy Market Report – https://www.thebusinessresearchcompany.com/sample.aspx?id=3395&type=smp

As per the gene therapy market forecast, North America was the largest region in the gene therapy market, accounting for 44.6% of the global market in 2022. It was followed by Western Europe, Asia Pacific and the other regions. Going forward, the fastest growing regions in the gene therapy market will be South America and the Middle East.

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