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Gene Delivery Technologies Market 2024 - Top Manufactures, Growth Rate, Revenue And Forecast To 2033
Gene Delivery Technologies Market
According to The Business Research Company's, The gene delivery technologies market size has grown rapidly in recent years. It will grow from $3.57 billion in 2023 to $4.11 billion in 2024 at a compound annual growth rate (CAGR) of 15.2%. The growth in the historic period can be attributed to enhanced understanding of genetic diseases, advancements in cell therapy, evolution of nanotechnology, growth of gene therapy trials, research funding increase.
The gene delivery technologies market size is expected to see rapid growth in the next few years. It will grow to $6.96 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%. The growth in the forecast period can be attributed to precision medicine development, regulatory framework enhancements, proliferation of gene therapy, expansion of non-viral delivery systems. Major trends in the forecast period include application in rare diseases, rise in clinical trials, targeted drug delivery, expansion of cell therapy, development of gene editing tools.
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Market Drivers and Trends:
The increasing number of cell and gene therapies is expected to propel the growth of the gene delivery technologies market going forward. Cell and gene therapies refer to medical treatments that aim to cure or alleviate diseases by altering a patient's body's genetic and cellular makeup. The increasing number of cell and gene therapies is mainly driven by advancements in gene editing technologies, playing a critical role in developing and commercializing cell and gene therapies. For instance, in October 2022, according to an article published by Economist Impact, a UK-based corporation empowering businesses, governments, and foundations to catalyze change and enable progress, in mid-2021 around 2,600 clinical trials for CGTs were underway. Companies have conducted over half of it since 2015, and these have increased as per their research demand in multiple fields. Researchers estimate that by 2031, the United States will have 100 approved CGTs. Additionally, between 2022 and 2031, the FDA is expected to approve 8 or 9 CGTs per year on average. Therefore, increasing cell and gene therapies drives the gene delivery technologies market.
Technological advancement has emerged as a key trend gaining popularity in the gene delivery technologies market. Major market players are concentrating their efforts on creating technologically advanced products to strengthen their position in the market. For instance, in February 2023, Aera Therapeutics, a US-based biotechnology company, launched Aera's Platform delivery technology to unlock the potential of genetic medicines. Aera's PNP technology allows for the precise targeting of RNA molecules that are involved in disease processes. This technology allows for the targeted editing of genes in a patient's cells, offering the potential for personalized gene therapies.
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Major Key Players of the Market:
Thermo Fisher Scientific Inc.; QIAGEN NV; Horizon Discovery Group Co; OriGene Technologies Inc.; Oxford Biomedica Solutions LLC; SignaGen Laboratories LLC; Vectalys SAS; Takara Bio Inc.; Bio-Rad Laboratories Inc.; System Biosciences LLC; Promega Corporation; Hoffmann-La Roche AG; Catalent Inc.; Avantor; Pfizer Inc.; Becton Dickinson and Company; Novartis AG; Intellia Therapeutics Inc.; Editas Medicine Inc.; CRISPR Therapeutics AG; Spark Therapeutics Inc.; Bluebird Bio Inc.; Sarepta Therapeutics Inc.; Regenexxbio Inc.; Beam Therapeutics Inc.; Verve Therapeutics Inc.; Arrowhead Pharmaceuticals Inc.; Alnylam Pharmaceuticals Inc.; Moderna Inc.; BioNTech SE; Translate Bio Inc.; CureVac N.V.; Lonza Group AG
Gene Delivery Technologies Market 2024 Key Insights:
• The gene delivery technologies market size will grow to $6.96 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%.
• Surge In Gene And Cell Therapies Drives Momentum In The Gene Delivery Technologies Market
• Aera Therapeutics Unveils Cutting-Edge Platform Delivery Technology, Elevating The Gene Delivery Technologies Markek
• North America was the largest region in the gene delivery technologies market in 2023
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