Gene Therapy Market Forecast 2030: Emerging Trends and Growth Drivers

Allied Market Research has published a study report with the title of the Global Gene Therapy Market was estimated at $6.0 billion in 2020, and is anticipated to hit $46.5 billion by 2030, registering a CAGR of 22.8% from 2021 to 2030.

Gene therapy is an experimental medical technique that involves altering or manipulating a person's genes to treat or prevent diseases. The goal of gene therapy is to introduce a healthy copy of a defective or missing gene into a patient's cells to restore their normal function or to enhance the body's ability to fight against disease.

There are several different approaches to gene therapy, including:

• Replacement therapy: This involves replacing a defective or missing gene with a healthy copy of the same gene.
• Gene editing: This involves editing or modifying a patient's existing genes to correct or eliminate disease-causing mutations.
• Gene addition: This involves adding new genes to a patient's cells to provide a therapeutic benefit, such as boosting the immune system to fight cancer.

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What are the gene therapy examples?

There are several examples of gene therapy that have been developed and tested in clinical trials. Here are a few examples:

• Leber's congenital amaurosis: This is a rare genetic disorder that causes blindness. In 2017, the FDA approved the first gene therapy, called Luxturna, to treat this disease. The therapy involves injecting a healthy copy of the RPE65 gene into the retina to restore vision.
• Severe combined immunodeficiency (SCID): This is a rare inherited disorder that affects the immune system. In 2019, the FDA approved a gene therapy called Zolgensma to treat infants with a specific type of SCID. The therapy involves replacing a defective copy of the SMN1 gene with a functional copy to improve muscle function.
• Hemophilia: This is a blood clotting disorder caused by mutations in the genes that control blood clotting factors. In 2020, the FDA approved a gene therapy called Valoctocogene Roxaparvovec to treat adult patients with hemophilia A. The therapy involves delivering a functional copy of the Factor VIII gene to liver cells to produce the missing clotting factor.

what are the Driving Factors of gene therapy market?

There are several factors driving the growth of the gene therapy market, including:

• Increasing prevalence of genetic disorders: Genetic disorders are becoming increasingly common, and the need for effective treatments is driving the growth of the gene therapy market. Gene therapy offers a promising approach for treating a wide range of genetic diseases, including inherited disorders, rare diseases, and some types of cancer.
• Technological advancements in gene therapy: Advances in gene editing technology, viral vectors, and non-viral delivery methods are enabling the development of more effective and precise gene therapies. These technologies are also making it easier to scale up the production of gene therapies for commercial use.
• Growing investment in gene therapy research and development: The gene therapy market is attracting significant investment from both private and public sectors. This investment is supporting the development of new gene therapies and helping to advance the technology and manufacturing processes needed to bring these therapies to market.
• Favorable regulatory environment: Regulatory agencies such as the FDA and EMA have provided a clear path to market for gene therapies, making it easier for developers to obtain regulatory approval for their products. This has encouraged more companies to enter the gene therapy market and invest in R&D.
• Increasing demand for personalized medicine: Gene therapy has the potential to offer highly personalized treatments that target the underlying cause of a disease at the genetic level. This is in line with the growing trend toward personalized medicine, which is driving the demand for targeted therapies that can be tailored to an individual patient's needs.

Top Companies Of Gene Therapy Market

• Gilead Sciences
• Orchard Therapeutics.
• Bristol-Myers Squibb.
• Therapeutics plc
• Adverum Biotechnologies, Inc.
• Amgen Inc.
• Jazz Pharmaceuticals,
• Shenzhen SiBiono Genentech
• Adaptimmune
• Novartis AG
• Shanghai Sunway Biotech Co., Ltd.

Gene Therapy Market Segmentation

On the basis of gene type, the antigen segment accounted for the highest market share in 2020, generating nearly one-fourth of the global gene therapy market. Rise in the prevalence of diseases such as autoimmune diseases & cancer and increase in R&D activities associated with antigen-based gene therapies propel the growth of the segment. The deficiency segment, however, is anticipated to cite the fastest CAGR of 26.0% from 2021 to 2030.

On the basis of application, the oncological disorders segment generated the highest share in 2020, holding more than two-fifths of the global gene therapy market. The same segment is also expected to cite the fastest CAGR of 23.5% from 2021 to 2030. Increase in the prevalence of cancer and availability of diverse gene therapy products that can be used to treat cancer fuel the segment growth.

On the basis of region, North America contributed to the major market share in terms of revenue 2020, holding nearly half of the global gene therapy market. The Asia-Pacific region, simultaneously, is projected to cite the fastest CAGR of 25.4% from 2021 to 2030. This is attributed to the facts such as rise in the prevalence of chronic diseases, increase in healthcare expenditure, developments in healthcare infrastructure, availability of reimbursements, and the presence of major market players in the province.

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By Region Outlook

• North America
(U.S., Canada, Mexico)
• Europe
(Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific
(Japan, China, India, Rest of Asia-Pacific)
• LAMEA
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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This release was published on openPR.