Gene Therapy Market Top Players-Krystal Biotech, Inc., Shanghai Sunway Biotech Co. Ltd., Sibiono Genetech Co. Ltd., Ferring B.V., Vertex Pharmaceuticals Incorporated.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Gene Therapy Market- (By Type (Gene silencing, Cell replacement, Gene augmentation, Other therapies), By Vector (Viral vectors (Retroviral Vectors (Gamma Retroviral Vectors, Lentiviral Vectors), Adeno-Associated Viral Vectors, Other Viral Vectors), Non-Viral Vectors (Oligonucleotides, Other Non-Viral Vectors)), By Therapeutic area (Neurology, Oncology, Hepatology, Other therapeutic areas), By Delivery method (In Vivo, Ex Vivo), By Route Of Administration (Intravenous, Other routes of administration))), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Gene Therapy Market is valued at USD 2.4 Bn in 2024, and it is expected to reach USD 13.6 Bn by the year 2034, with a CAGR of 19.05% during the forecast period of 2025-2034.

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Gene therapy is a medical approach that involves the modification or replacement of genetic material within a patient's cells to treat or prevent diseases. The primary aim of gene therapy is to correct or modify the function of genes that are responsible for or contribute to the development of a disease. The gene therapy market is experiencing significant growth due to advancements in biotechnology, which are providing innovative treatment options for various genetic conditions. Key drivers of this market include increased research and development activities, favorable regulatory frameworks, and growing collaboration within the pharmaceutical sector. North America and Europe are leading the market, supported by their established healthcare infrastructures and extensive clinical trial programs. Furthermore, the market benefits from rising investments in gene-editing technologies. As more gene therapies advance through clinical trials and obtain regulatory approvals, the market is expected to continue evolving, offering new treatment possibilities for patients with genetic disorders and contributing to the broader expansion of the healthcare industry.

List of Prominent Players in the gene therapy market:
• Novartis Ag
• Biogen Inc.
• Gilead Sciences, Inc.
• Bristol-Myers Squibb
• Alnylam Pharmaceuticals, Inc.
• Sarepta Therapeutics, Inc.
• Amgen, Inc.
• Orchard Therapeutics Plc
• F. Hoffmann-La Roche Ag
• Jazz Pharmaceuticals Plc
• Uniqure N.V.
• Johnson & Johnson
• Bluebird Bio, Inc.
• Biomarin Pharmaceutical Inc.
• Krystal Biotech, Inc.
• Shanghai Sunway Biotech Co. Ltd.
• Sibiono Genetech Co. Ltd.
• Ferring B.V.
• Vertex Pharmaceuticals Incorporated
• Pfizer, Inc.
• Sangamo Therapeutics, Inc.
• Regenxbio
• Ultragenyx Pharmaceutical Inc.
• Meiragtx Holdings Plc
• Anges, Inc.

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Market Dynamics
Drivers:
Gene therapy products are subjected to extensive regulatory evaluations prior to approval, with their ability to target the genetic root causes of diseases offering therapeutic effects that are often more effective and long-lasting compared to traditional treatments. This distinct advantage has contributed to an increase in the number of gene therapy product approvals, with more than ten products receiving approval from the U.S. FDA between 2021 and 2023. Additionally, a substantial number of products in the clinical pipeline are anticipated to secure approval during the forecast period. As a result, these factors are driving significant growth in the gene therapy market.

Challenges:
Despite its promising prospects, the gene therapy market faces several challenges that could hinder its growth. The high cost of treatment remains a significant barrier to widespread adoption, limiting patient access to these therapies. Safety concerns and the potential for long-term side effects require careful monitoring and follow-up care post-treatment. Regulatory hurdles and reimbursement issues also present challenges to market expansion. Moreover, the complexities associated with manufacturing, such as scalability and production consistency, need to be addressed for successful commercialization. Ethical and societal concerns surrounding genetic modification further complicate broader acceptance. Overcoming these challenges is essential for the continued growth and acceptance of the gene therapy market.

Regional Trends:
The North American gene therapy market is experiencing substantial growth, driven by advancements in biotechnology and a favorable regulatory environment. The region is home to a strong presence of key market players and has seen significant investments in research and development. The United States, in particular, plays a crucial role in the market, with numerous clinical trials and gene therapy product approvals. Increased collaboration between pharmaceutical companies and academic institutions is also fostering innovation in the field. North America is expected to maintain its leadership position in the gene therapy market, focusing on expanding treatment options for genetic disorders.

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Recent Developments:
• In May 2023, Novartis acquired a candidate gene therapy from Avrobio, a company experiencing financial challenges. Novartis made an unprecedented advance payment of $87.5 million for the clinical-phase asset, with no stipulations regarding future payments. The agreement encompassed AVR-RD-04, a hematopoietic stem cell gene therapy program under investigation designed to treat the uncommon genetic disorder cystinosis.
• In April 2023, Bristol-Myers Squibb expanded its global cell therapy manufacturing network. This expansion will enable in-house viral vector production via a manufacturing facility in the United States and its activities in Libertyville, Illinois. To make this happen, the business has signed an arrangement with Novartis. The facility and its operations could generate viral vectors for both of Bristol Myers Squibb's CAR T cell treatments. This advancement furthered the company's long-term goals in cell therapy.

Segmentation of Gene therapy market-
By Type
• Gene silencing
• Cell replacement
• Gene augmentation
• Other therapies
By Vector
• Viral vectors
o Retroviral Vectors
 Gamma Retroviral Vectors
 Lentiviral Vectors
o Adeno-Associated Viral Vectors
o Other Viral Vectors
• Non-Viral Vectors
o Oligonucleotides
o Other Non-Viral Vectors
By Therapeutic area
• Neurology
• Oncology
• Hepatology
• Other therapeutic areas
By Delivery method
• In Vivo
• Ex Vivo
By Route Of Administration
• Intravenous
• Other routes of administration
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.