Gene Therapy Products Market Will Exhibit an Impressive Expansion by 2024-2031

The global gene therapy products market is anticipated to grow at a significant CAGR during the forecast period. Gene therapy is an advanced medical treatment involving the transfer of a normal/ healthy gene to replace a defective gene in a cell. The market growth is majorly attributed owing to the growing incidences of various chronic and genetic disorders in human beings that can be cured through gene therapy. Gene therapy products are broadly used in treating genetic disorders by administering a gene that is healthy in place of defective genes in a cell. These products primarily find their application in the prevention as well as a cure for different types of genetic and chronic disorders. In fact, the COVID-19 treatment is one of the applications that hold a promising future for market growth.

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As a result of such unmet medical needs, a few gene therapy developers are entering into field of vaccines development. For instance, in January 2021, vaccine candidates developed by Mass General Brigham and made by utilizing gene-therapy technology elicited strong immune responses in animal models for the treatment of COVID-19. The vaccine candidate was named AAVCOVID and the researchers received a $2.1 million grant to further develop the technology from the Bill & Melinda Gates Foundation. The vaccine which is being developed is likely to be far more convenient than the ones being sold in the market currently, as it has single-dose and can be stored at room temperature. Different approaches are being used by other researchers, like those from the University of Pennsylvania. In collaboration with Regeneron, the researchers are using adeno-associated viral vectors to transport lab-made antibodies into the body. These kinds of researches are expected to offer an opportunity for the growth of the market.

Global Gene Therapy Products Market Report by Segment

By Product

• Yescarta
• Kymriah
• Luxturna
• Strimvelis
• Gendicine

By Application

• Ophthalmology
• Oncology
• Adenosine Deaminase Deficient Severe Combined Immunodeficiency (ADA-SCID)

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Gene Therapy Products Market- Segment by Region

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

Company Profiles

• Gilead Sciences, Inc.
• Novartis International AG
• Celgene Corp.

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