Press release
Gene Therapy Market is projected to reach USD 27,250.20 million by 2034, growing at a CAGR of 27.1%
Gene Therapy Market
Market Scope
Gene contains DNA, the code that regulates much of the body's configuration and function. DNA regulates everything from hair color to height to breathing, walking, and digesting food. Genes that do not function appropriately can cause illnesses. Often, these genes are known as mutations.
Gene therapy targets to restore it with wholesome genes to attempt to cure illnesses or render the body better able to combat diseases. It carries promise as a cure for a broad gamut of illnesses such as cancer, cystic fibrosis, heart disease, diabetes, hemophilia, and AIDS. The U.S. Food and Drug Administration (FDA) has consented to gene therapy commodities for many conditions involving cancer, spinal muscular atrophy, hemophilia, and sickle cell disease.
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Leading Market Players
The aggressive topography of the market is marked by an amalgamation of global leaders and local contenders struggling to seize market share through innovation, strategic partnerships, and geographic expansion. Leaders in the market are enumerated below:
• Bluebird Bio
• Bristol Myers Squibb
• Gilead Sciences Inc
• GlaxoSmithKline
• Novartis AG
• Sangamo Biosciences
• Spark Therapeutics LLC
• Ultragenyx
• Voyager Therapeutics
Gene Therapy Market Report Highlights
• Based on therapeutic area, the oncological disorders segment leads the gene therapy market share in 2024 due to the prevalence of significant physical and psychological impacts of the disease and its treatment.
• By vector type, the viral segment leads gene therapy market revenue share due to its effective and efficient delivering genes to the targeted cells for various cancers, monogenic and infectious diseases.
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Market Drivers and Opportunities
The instigation of Akcea Therapeutics' Tegsedi, with the consent of Novartis' Zolgensma, validated the market with sizeable growth. Large pharma firms are funding massively in gene therapy. Roche obtained Spark Therapeutics for USD 4.3 billion, whereas Pfizer is diligently advancing manifold gene therapy programs, thus spiraling the gene therapy market demand.
Cardiovascular illnesses have become the presiding reason of death and fatality globally in the last three decades. As per the report issued by WHO, cardiovascular illnesses will generate 23.3 million fatalities by 2030. The elevated existence of discontented medical requirements relating to this illness and the following rise witnessed in patient consciousness levels globally are boosting the demand for gene therapy.
Market Segmentation
By Type Therapeutic Area Outlook (Revenue, USD Million, 2020-2034)
• Autoimmune Disorders
• Cardiovascular Diseases
• Dermatological Disorders
• Hematological Disorders
• Metabolic Disorders
• Muscle-Related Diseases
• Oncological Disorders
• Others
By Vector Type Outlook (Revenue, USD Million, 2020-2034)
• Viral
• Non-Viral
By Approach Outlook (Revenue, USD Million, 2020-2034)
• Gene Augmentation
• Oncolytic Viral Therapy
• Immunotherapy
• Other Approaches
By Route of Administration Outlook (Revenue, USD Million, 2020-2034)
• Intraarticular
• Intracerebellar
• Intradermal
• Intramuscular
• Intratumoral
• Intravenous
• Intravesical
• Intravitreal
• Subretinal
• Others
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Regional Outlook
North America held the largest gene therapy market share in 2024 due to robust administrative reinforcement, elevated funding in R&D, and an entrenched biopharma habitat.
Europe holds the second largest market share due to its robust administrative framework, elevated R&D funding, and a growing aggregate of accepted therapies. The European Medicines Agency (EMA) has given consent to manifold gene therapies involving Skysona, Libmeldy, and Roctavian, reinforcing the market expansion.
• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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