Global Gene Therapy Market Forecast 2020-2027
Posted by Sonika on January 27th, 2021
Bharat Book Bureau Provides the Trending Market Research Report on “Global Gene Therapy Market: Current Analysis and Forecast (2020-2027) ”under Healthcare Category. The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.
The gene therapy is the next trend of therapeutic modernization in the life sciences industry. These therapy approaches could help the enormous preponderance of newborns with different diseases. Gene therapy possesses the potential to transform medicine and establish opportunities for patients who are living with complicated, and even incurable, diseases. As scientists continue to make great strides in this therapy, FDA is committed to helping speed up the gene therapy development by timely review of pioneering therapies that have the potential to save lives.
The gene therapy market is experiencing significant growth on account of surging prevalence of cancer and rare diseases. According to WHO, in the United States, over 400 products have been approved as therapy for more than 200 rare disease indications and in the EU, over 70 products for about 45 indications. Furthermore, in the field of molecular and cellular biology, rapid and important developments, led by technological advances in genomics and gene editing techniques, have contributed to a growing number of approved gene therapies and an expanding pipeline. According to the Alliance for Regenerative Medicine (ARM), by the end of the Q22019, there were more than 700 ongoing clinical trials globally.
The American Medical Association reports that around 4,000 diseases have been linked to gene disorders (including cancers, AIDS, cystic fibrosis, and Parkinson's and Alzheimer's diseases). The successful treatment with gene therapy could positively affect millions of lives.
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The COVID-19 pandemic has disrupted worldwide management efforts around gene therapies. The manufacture and delivery of treatments, research and clinical development, and commercial operations are the three areas within the gene therapy sector which have been most interrupted amid COVID-19 crisis. The development of gene therapies has been less affected. For instance, Peter Marks, Director of FDA’s Center for Biologics Evaluation and Research (CBER) stated that with the influx of applications for cell and gene therapies over the last five years, it should have doubled in size while it is only modestly larger, 15-20% larger in size.
Based on vector, the market is fragmented into viral and non-viral vectors. The viral vector segment generated revenue of US$ 3.1 billion in 2019. The market is expected to grow at a CAGR of 29.18% during the forecast period to reach a market valuation of US$ 17.9 billion by 2027 owing to the substantial advances in vector manufacturing, distribution, and security. Furthermore, the viral vector market is mainly bifurcated into the lentivirus, adeno-associated virus, retrovirus & gammaretrovirus, modified herpes simplex virus, and adenovirus.
Based on gene type, the market is mainly fragmented into antigen, cytokine, tumor suppressor, suicide, deficiency, receptor, and others. The antigen segment dominated the market generating total revenue of US$ 0.7 billion in 2019 and is anticipated to maintain its dominance during the analyzed period. The gene therapy holds potential for treating various indications including oncology, rare diseases, cardiovascular, neurology, infectious and others. The oncology segment dominated the market and generated revenue of US$ 1.7 billion in 2019 owing to the increasing number of cancer cases. Cancer is the second leading cause of death worldwide, accounting for an estimated 9.6 million deaths, or 1 in 6 deaths, in 2018.
Based on delivery method, the market is mainly disintegrated into in-vivo and ex-vivo. The ex-vivo segment is expected to grow at the highest CAGR of 35.5% during the forecast period owing to the benefit of expression of the gene and health of the transfected cells that can be verified before it is introduced to the patient.
For a better understanding of the market penetration of the healthcare analytics market, the market is analyzed based on its worldwide presence in the countries such as North America (the U.S, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, Australia, South Korea, and Rest of APAC), Rest of World. North America constitutes a major market for the gene therapy industry. Some of the major players operating in the market include Biogen, BioMarin Pharmaceuticals, bluebird bio, Bristol Myers Squibb, Gilead Sciences, Novartis, Orchard Therapeutics, Regenxbio, Spark Theraputics, and uniQure.
The global gene therapy market was valued at US$ 3.5 billion in 2019 and is projected to expand significantly with a CAGR of 29.71% from 2021 to 2027. The global gene therapy market is expected to witness a boost, owing to the rising incidence of cancer and other diseases, growing gene therapy pipeline and increasing funding for the gene therapy research.
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