Gene Therapy Market Key Drivers, Size, Trends, Growth, Outlook 2024-2033

"The Business Research Company recently released a comprehensive report on the Global Gene Therapy Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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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Market Drivers and Trends:

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.

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.

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Major Key Players of the Market:

PepsiCo Inc., The Coca-Cola Company, Red Bull GmbH, Danone, Nestle S.A, Monster Beverage Corporation, Dr. Pepper Snapple Group, Fonterra Co-Operative Group Ltd, Kraft Heinz Company, Abbott, Dali Foods Group Co., Ltd., Hangzhou Wahaha Group Co., Ltd., Red Bull, Shenzhen Eastroc Beverage Industrial Co., Ltd., Nongfu Spring, China Haisheng Juice Holdings Co., Ltd., Beijing Huiyuan Food and Beverage Co., Ltd, Britvic, GoodMills Group GmbH, European Drinks S.A, Sokolow, Zaklady Tluszczowe Kruszwica, Penam, Metarom Group, Košík, Vitana, Cloud 9 Energy Drink, Mondelez International, the Hain Celestial Group, Campbell Soup Company, Red Bull and Rockstar Inc., Unilever, Arcor, Starbucks, Agrosuper, JBS, Ambev, Almarai Company, Arab Company for Livestock Development (ACOLID), Al-Watania Company, Herbalife Nutrition SA, Viju Industries Nigeria Ltd

Gene Therapy Market 2024 Key Insights:

• 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%.
• Rising Cancer Incidences Drive Growth In The Gene Therapy Market
• Growth Of Machine Learning And AI In Gene Therapy Market
• North America was the largest region in the gene therapy market in 2023

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