Gene Therapy Market Demand, Share, Trend, Business Opportunity, Product, Forecast 2030 | Global Value $46.5 billion by 2030

According to a new report published by Allied Market Research, titled, "Gene Therapy Market," The Gene Therapy Market Size was valued at $6.0 billion in 2020 and is estimated to reach $46.5 billion by 2030, growing at a CAGR of 22.8% from 2021 to 2030.

Gene therapies are treatments that are applicable to a broad range of diseases. They radically treat the cause of the diseases, instead of only relieving the symptoms. Furthermore, they may be effective on a wide range of previously untreated diseases, such as hematological, ocular, neurodegenerative diseases, and several cancers. For example, adeno-associated AAV2 vectors carrying the therapeutic gene (RPE65) administered via intra-retinal injection resulted in improved vision for people with Leber's congenital amaurosis. These therapies can be applied either in combination with cell products and through an ex vivo treatment mode, such as Strimvelis or directly administered in vitro, for example, Glybera. Several vectors present clinically relevant options, including adenovirus (AV), adeno-associated virus (AAV), and lentivirus.

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Covid-19 scenario:

The economic crisis would not affect the industry much as the gene therapy operations have not been stopped due to coronavirus pandemic

The demand of gene therapy has not affected by lockdown as it comes under the category of essential goods.

High investment in R&D activities, increase in prevalence of cancer, and growth in awareness regarding gene therapy have boosted the growth of the global gene therapy market. However, high costs associated with gene therapies and unwanted immune responses hamper the market growth. On the contrary, untapped potential for the emerging market is expected to create lucrative opportunities in the near future.

The viral vector segment held the largest share in 2018, contributing to more than half of the global gene therapy market, owing to easier modifications of many viruses such as Lentivirus, Adeno-Associated Virus (AAV), RetroVirus & Gamma RetroVirus to deliver gene therapy drugs. However, the non-viral vector segment is expected to register the fastest CAGR of 38.8% during the forecast period. This is attributed to the technological advancements in physicochemical approaches such as physical methods and chemical methods of non-viral vectors.

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Segmentation Analysis of the Industry:

The tumor suppressor segment to portray the fastest CAGR of 52.9% during the forecast period, owing to rise in number of methodology and clinical trials of tumor suppressor for the gene therapy treatment. However, the antigen segment held the largest share in 2018, contributing to more than one-fifth of the global gene therapy market, due to the presence of a wide range of genetic mutations and dysregulated gene expression of tumor cells.

North America held the largest share in 2018, accounting for nearly half of the market, owing to high prevalence rate of cancer, presence of high disposable income, and increase in funding for R&D activities associated with gene therapy. However, the market across the Asia-Pacific region is projected to register the fastest CAGR of 45.4% during the forecast period, owing to rise in number of people prone to various chronic diseases and approval & launch of gene therapy products.

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The key players operating in the global gene therapy market include Adaptimmune Therapeutics Plc., Anchiano Therapeutics Ltd., Achieve Life Sciences, Inc., Adverum Biotechnologies, Inc., Abeona Therapeutics Inc., Applied Genetic Technologies Corporation, Arbutus Biopharma Corporation, Audentes Therapeutics, Inc., AveXis, Inc., Bluebird Bio, Inc., Celgene Corporation, CRISPR Therapeutics AG, Editas Medicine, Inc., Editas Medicine, Inc., GlaxoSmithKline Plc., Intellia Therapeutics, Inc., Merck & Co., Inc., Novartis AG, REGENXBIO Inc., Spark Therapeutics, Inc., Sangamo Therapeutics, Inc., Uniqure N. V., Voyager Therapeutics, Inc. Other prominent players in the value chain (companies not profiled in the report) includes Amgen, Epeius Biotechnologies, Sanofi, Juno Therapeutics, and Advantagene.

KEY FINDINGS OF THE STUDY

By vector type, the non-viral vector segment was the highest contributor to Gene Therapy Market Size in 2020.

By gene type, the antigen gene segment type dominated the market in 2020.

By application, the oncological disorders segment dominated the market in 2020 and is expected to continue this trend during the forecast period.

Region-wise, North America garnered the largest revenue share in 2020; however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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