Gene Therapy Market: In-Depth Insights on Market Size, Share, Technological Innovations, Key Drivers, and Future Growth

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Gene Therapy Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $27.77 billion In 2028 At A CAGR Of 21.8% :

The gene therapy market size has grown exponentially in recent years. It will grow from $9.66 billion in 2023 to $12.64 billion in 2024 at a compound annual growth rate (CAGR) of 30.9%. The growth in the historic period can be attributed to rising pharmaceutical r&d expenditure, a rise in public-private partnerships, government investments and rising cases of spinal muscular atrophy. .

The gene therapy market size is expected to see exponential growth in the next few years. It will grow to $27.77 billion in 2028 at a compound annual growth rate (CAGR) of 21.8%. The growth in the forecast period can be attributed to an increasing number of cancer cases, a growing aging population, increasing research and development spending in the pharmaceutical sector and a rising focus on gene therapy will drive the market.. Major trends in the forecast period include enhancing business operations through securing regulatory approvals, strengthening business activities through strategic collaborations and partnerships, expanding business capabilities through strategic acquisitions and strengthening operational capabilities through business expansions..

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Gene Therapy Market Major Segments
The gene therapy market covered in this report is segmented -

1) By Gene Therapy Type: Germline Therapy, Somatic Cell Therapy
2) By Vector: Viral Vector, Non-Viral Vector
3) By Application: Oncology, Orphan Disease, Knee Osteoarthritis, Neurological Disorders
4) By End Users: Biopharmaceutical Companies, Research Institutes, Other End Users

Key Driver - Rising Cancer Incidences Drive Growth In The Gene Therapy Market

Incidences of cancer and other target diseases have been increasing significantly, which is calling for effective treatments, driving the growth of the gene therapy market. The rise in the number of cancer cases across the globe is likely to contribute to the growth of the gene therapy market during the forecast period. For instance, in January 2022, according to the American Cancer Society, there will likely be 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the US, or roughly 1,670 fatalities every day. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43 percent of all new cancer cases. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43 percent of all new cancer cases. Therefore, the rise in the cancer incidence rate globally is anticipated to boost the demand for the gene therapy market over the forthcoming years. Gene therapy is one of the most effective treatments in oncology. In this treatment, new genes are introduced into a cancerous cell or the surrounding tissue to cause cell death or slow the growth of cancer.

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Prominent Trend - Growth Of Machine Learning And AI In Gene Therapy Market

The use of machine learning and artificial intelligence is gradually gaining popularity in the gene therapy market. Artificial intelligence (AI) is the simulation of human intelligence in machines, which are programmed to display their natural intelligence. Machine learning is a part of AI. Machine learning and AI help companies in the gene therapy market conduct a detailed analysis of all relevant data, provide insights between tumor and immune cell interactions, and offer a more accurate evaluation of tissue samples, which is often disputed between different evaluators. For instance, in May 2023, Form Bio, a US-based life-sciences focused software company, launched FORMsightAI, a new AI-based solution set for predicting and optimizing manufacturing outputs of cell and gene therapy constructs. It is a full-service solution that combines cutting-edge, adaptable AI models with Form Bio's underpinning platform and a skilled team of computational life sciences experts with backgrounds in biology, bioinformatics, and data science. FORMsightAI addresses common issues faced by cell and gene therapy developers of construct truncations and manufacturing contaminations, which are major causes of unacceptably low manufacturing yields, extended timelines to market, and therapeutic safety problems.

Gene Therapy Market Players
Major companies operating in the gene therapy market report are UniQure NV, REGENXBIO Inc., Bristol-Myers Squibb, BioMarin Pharmaceuticals Inc., Jazz Pharmaceuticals Inc., Biocon, Cipla, EdiGene Inc, Takeda Pharmaceutical, Daiichi Sankyo Company, Mitsubishi Tanabe Pharma, Merck, GE Healthcare, Lonza, Pfizer, Cellular Biomedicine Group, GenScript, Albumedix Ltd, Catalent, Freeline Therapeutics, DiNAQOR AG, Vivet Therapeutics, Allergan, Amgen, Biocad, Celgene Corporation, Johnson & Johnson, Eli Lilly and Company, AstraZeneca, Bayer AG, Juno Therapeutics, Allogene Therapeutics, Bluebird Bio, Regen BioPharma, Bellicum, Biotchpharma, BrainStorm Cell Therapeutics, Pluristem, Sanofi

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Largest And Fastest Growing Region In The Market
North America was the largest region in the gene therapy market in 2023. The regions covered in the gene therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Gene Therapy Market Report Structure
3. Gene Therapy Market Trends And Strategies
4. Gene Therapy Market - Macro Economic Scenario
5. Gene Therapy Market Size And Growth
…..
27. Gene Therapy Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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