The gene therapy market involves the use of genes as pharmaceutical products to treat diseases by complementing or augmenting a missing or non-functioning gene or by replacing a mutated gene. Gene therapy entails the insertion of new genes into cells and tissues to treat genetic disorders and acquired diseases such as cancer. Gene therapy replaces a mutated gene that causes disease with a healthy copy of the gene. This therapy aims to fix genetic problems at their source and offers promising treatment for a number of genetic conditions. Rising investments by pharmaceutical companies and research institutes in the development of novel gene therapy options for various diseases and disorders is fueling the growth of this market.
The Global Gene Therapy Market is estimated to be valued at US$ 10.37 Bn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the gene therapy market are Novartis AG (Switzerland), Biogen Inc. (US), Gilead Sciences, Inc. (US), Bristol-Myers Squibb (US), Alnylam Pharmaceuticals, Inc. (US), and Sarepta Therapeutics, Inc. (US) among others. Novartis AG is a global leader in gene therapy with its approved Kymriah and Zolgensma along with several candidates in late-stage development.
The growing prevalence of cancer and genetic disorders is expected to boost the demand for gene therapy over the forecast period. According to the World Health Organization, cancer is among the leading causes of mortality worldwide with over 10 million new cases in 2020. Genetic disorders are also on the rise. For instance, Cystic Fibrosis affects over 75,000 people globally.
Advancements in gene sequencing, gene delivery mechanisms, and genome editing technologies like CRISPR-Cas9 are fueling development of novel targeted gene therapies. Companies are focusing on development of non-viral gene delivery methods like nanoparticles and gene editing technologies to overcome limitations of viral vectors and improve safety and efficacy of gene therapies.
Market Trends
Targeted gene therapies emerging as mainstream option: With advancements in gene sequencing and identification of disease-causing mutations, targeted gene therapies are becoming mainstream. Companies are developing therapies targeting specific mutations in cancers and genetic disorders with potentially improved safety and efficacy.
Increased focus on in vivo gene therapies: Earlier gene therapies mainly focused on ex vivo gene transfer requiring cell extraction, manipulation and reintroduction. However, companies are now developing innovative in vivo gene therapies involving direct delivery of therapeutic genes into target tissues via viral and non-viral vectors to overcome challenges associated with ex vivo approaches.
Market Opportunities
Gene therapy for neurological disorders: Neurological disorders like Alzheimer's, Parkinson's, spinal muscular atrophy have significant unmet needs. Development of effective gene therapies for these conditions can open major opportunities.
Adoption in emerging markets: While the US and Europe account for majority of current sales, gene therapy adoption in emerging Asia Pacific and Latin American countries with large patient pools and improving healthcare infrastructure can drive future growth.
Impact of COVID-19 on Gene Therapy Market Growth
The COVID-19 pandemic has adversely affected the growth of the Gene Therapy Market Growth. Restrictions imposed by various governments to curb the spread of the virus led to temporary closure of manufacturing facilities and disruptions in the supply chain. This resulted in delayed clinical trials and new product launches. Moreover, decline in discretionary healthcare spending during the pandemic also impacted the market negatively. However, with mass vaccination drives and easing of restrictions, the market is projected to regain growth momentum in the coming years. The pandemic also raised awareness about genetic disorders and importance of gene therapies in treating conditions with no cure. This is expected to drive higher research funding and investments in gene therapy development post COVID-19.
Gene Therapy Market in North America
North America dominated the global gene therapy market in terms of value in the pre-COVID era due to strong presence of leading market players, rising research funding, and faster approvals for new therapies in the US. The region continues to account for the bulk of the total market share even after the pandemic outbreak. This is attributed to high healthcare expenditure, advanced healthcare infrastructure, and increasing demand for advanced treatment options for diseases such as cancer and rare disorders. The US alone captures over 85% share of the North American gene therapy market driven by consistently high R&D spending in the country.
Fastest Growing Region for Gene Therapy Market
Asia Pacific region is projected to witness the fastest growth in the global gene therapy market over the forecast period. This is mainly owing to rising healthcare expenditure, increasing incidence of genetic diseases, and growing collaborations between domestic and multinational pharmaceutical companies for local manufacturing of gene therapies. In particular, China and India are expected to drive the momentum in the Asia Pacific gene therapy market supported by their large population size and improving regulatory framework encouraging clinical trials. Significant investments by both public and private players to develop indigenous research capabilities in gene therapy domain would further accelerate the revenue growth of APAC markets going forward.
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