Market For Gene Therapy Is Expected To Surpass US$ 18.72 Billion By 2031

Healthcare

The global gene therapy market is slated to acquire a valuation of US$ 1.85 Billion in 2022, up from US$ 1.55 Billion in 2021, representing a Y-o-Y increase of 19.3%. From 2022-2032, the market is poised to register a CAGR of 18.5%, reaching a valuation of US$ 10.1 Billion.

The world has witnessed a significant increase in the number of cases of rare diseases, which has fueled the demand for cell and gene therapy. Ex-vivo gene therapy is becoming more popular for neurological treatments, which is expected to drive gene therapy market growth through 2032.

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Key Segments Covered in Gene Therapy Industry Research

  • By Product :

    • Yescarta-based Gene Therapy
    • Kymriah-based Gene Therapy
    • Luxturna-based Gene Therapy
    • Strimvelis-based Gene Therapy
    • Gendicine
    • Others
  • By Application :

    • Ophthalmology
    • Oncology
    • Adenosine Deaminase/Deficient Severe Combined Immunodeficiency (ADA-SCID)
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia
    • MEA

Competitive Landscape

The global gene therapy market is fiercely competitive, with only a few major players. Companies like Amgen Inc., Bluebird Bio, Gilead Sciences, Inc., Novartis AG, Orchard Therapeutics, Sibiono GeneTech Co. Ltd., Spark Therapeutics (Roche AG), and UniQure N.V.,  have a sizable market share in the Gene Therapy market. To secure a position in the global market, various strategic alliances such as collaborations, acquisitions, and the launch of advanced products have been formed.

  • In October 2021, the National Institutes of Health, the United States Food and Drug Administration, ten pharmaceutical companies, and five non-profit organizations announced a collaboration to accelerate the development of gene therapies for the 30 million Americans who suffer from a rare disease. Such initiatives are expected to boost demand for gene therapy.
  • BioMarin Pharmaceutical Inc. reported updates on its investigational gene therapy programs in clinical development in February 2022. The Food and Drug Administration (FDA) issued additional requests to the Company for information needed to resolve the clinical hold of the PHEARLESS Phase 1/2 study of BMN 307 issued in September 2021.
  • Novartis acquired Gyroscope Therapeutics in December 2021, adding a one-time gene therapy that could transform care for geographic atrophy, a leading cause of blindness.
  • Abecma (idecabtagene vicleucel), a cell-based gene therapy, was approved by the US Food and Drug Administration in March 2021 to treat adult patients with multiple myeloma who have not responded to, or whose disease has returned after, at least four prior lines (different types) of therapy. Abecma is the first FDA-approved cell-based gene therapy for the treatment of multiple myeloma.

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