Global Gene Therapy Market to Reach $2.7 Billion by 2026

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Mar 24, 2022, 10:25 ET

SAN FRANCISCO, March 24, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Gene Therapy - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Global Gene Therapy Market to Reach $2.7 Billion by 2026

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Edition: 17; Released: February 2022
Executive Engagements: 656
Companies: 154 - Players covered include Abeona Therapeutics Inc.; Adaptimmune Therapeutics Plc; Advantagene, Inc.; Adverum Biotechnologies, Inc; Akcea Therapeutics; Alnylam Pharmaceuticals, Inc.; Amgen Inc; Anchiano Therapeutics, Inc.; AnGes, Inc.; Applied Genetic Technologies Corporation; Audentes Therapeutics, Inc.; Biogen; bluebird bio, Inc.; Chiesi Farmaceutici S.p.A; CRISPR Therapeutics AG; Editas Medicine, Inc.; Gilead Sciences, Inc.; Intellia Therapeutics, Inc.; Jazz Pharmaceuticals, plc.; Juno Therapeutics, Inc; Merck KGaA; MolMed S.p.A.; Novartis Gene Therapies; Orchard Therapeutics plc; REGENXBIO Inc.; Sangamo Therapeutics, Inc.; Sarepta Therapeutics, Inc.; Sibiono GeneTech Co. Ltd.; Spark Therapeutics, Inc.; uniQure N.V.; Voyager Therapeutics and Others.
Coverage: All major geographies and key segments
Segments: Vector Type (Viral, Non-Viral); Application (Oncological Disorders, Rare Diseases, Cardiovascular Diseases, Neurological Disorders, Infectious Diseases, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.

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ABSTRACT-

Global Gene Therapy Market to Reach $2.7 Billion by 2026
Gene therapy involves the replacement of defective or missing genes with normal genes, thereby enabling proper functioning of the cells. This therapeutic option holds tremendous potential in providing one-time treatment for various different types of diseases, including bone marrow and blood cancer, severe muscular dystrophy, and genetic blindness. Gene therapy is growing at an impressive pace, having emerged as a prospective segment in the field of biotechnology, and also presenting a bright outlook, given the increasing investments in R&D as well as mounting incidence of genetic disorders. The rapid growth in global population, along with growing incidence of cancer and chronic disorders, introduction of novel gene therapy-based products, strong clinical evidence for therapeutic efficacy and safety of gene therapy products, favorable reimbursement policies and guidelines, and rapidly growing demand for chimeric antigen receptor (CAR) T-cell-based gene therapies are some of the key factors driving growth in the market. Moreover, rising awareness regarding the potential of gene therapy in treating various chronic diseases, ethical acceptability of gene therapy for treating cancer, and increased government support for promoting research in gene therapy are expected to bolster the market growth in the coming years

Amid the COVID-19 crisis, the global market for Gene Therapy estimated at US$1.2 Billion in the year 2022, is projected to reach a revised size of US$2.7 Billion by 2026, growing at a CAGR of 19.5% over the analysis period. Viral, one of the segments analyzed in the report, is projected to record 19.7% CAGR and reach US$3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non-Viral segment is readjusted to a revised 17.6% CAGR for the next 7-year period. Viral segment accounts for a major share of the market. Deployment of viral vectors in delivery of gene therapy drugs continue to exhibit progressive tide, driven by wider availability of advanced mechanisms for quicker and effective modifications of viruses such as Adeno-Associated Virus (AAV), Lentivirus, Retrovirus & Gamma-Retrovirus, Herpes Simplex Virus, Poxvirus, and Vaccinia Virus, among others. Robust improvement in RNA, DNA, and oncolytic viral vectors is encouraging the prospects of viral vectors. Non-viral vectors are perceived as safer substitute to viral vectors, and playing an important role in redirecting pharmaceutical industries and clinicians towards gene therapy. The demand for non-viral vectors is also attributed to factors like easy characterization, mass production, enhanced reproducibility, superior transgenic capacity, and few bio-security issues.

The U.S. Market is Estimated at $628.1 Million in 2022, While China is Forecast to Reach $82.3 Million by 2026
The Gene Therapy market in the U.S. is estimated at US$628.1 Million in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$82.3 Million by the year 2026 trailing a CAGR of 25.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.3% and 18.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 18.6% CAGR. The presence of large market players, availability of favorable reimbursement policies, prevalence of advanced healthcare infrastructure, high healthcare spending, the availability of high disposable income among the consumer base, and rising incidence of chronic diseases are some of the key factors that are expected to continue driving growth in the US market. In Europe, rising funding for cell and gene therapy programs in countries such as the UK is expected to steer the gene therapy market in the region. European companies with commercial gene therapy portfolios are actively seeking roll out of their treatments in other regional markets by winning approvals from concerned regulatory bodies. Growth in the Asia-Pacific region is attributed to the rising prevalence of cancer, growing government initiatives for improving healthcare infrastructure, and increasing healthcare expenditure by various countries across the region. More

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