Gene Therapy Market Research Report By Product (Kymriah, Luxturna, Yescarta, Zolgensma, Strimvelis, Zynteglo), Indication (Oncology, Genetic Diseases) and End-User (Hospitals & Clinics, Specialty Treatment Centers) – Forecast to 2030
The Gene Therapy Market is expected to reach USD 3,251.92 million by 2030 at 19.10% CAGR during the forecast period 2022-2030. A gene, a functional hereditary unit of life, carries an instruction set for a particular function. Gene therapy is the most cutting-edge treatment for blood problems, chronic illnesses, infectious diseases, and cancer. DNA fragment is inserted into the cell using a vector in the process of gene therapy. Due to its target specificity, the major firms are investing in the production of cell and gene therapy medicines. Depending on the type of cells it targets, gene therapy can be divided into two broad categories: somatic gene therapy and germline gene therapy.
Multiple factors, including a strong product pipeline, rising investments by major players, a high prevalence of the target diseases, and the need for cutting-edge drugs, are responsible for the rise of the worldwide gene therapy market. The creation of products is expensive, and strict regulatory standards are anticipated to restrain the market’s expansion. Currently, the global market for gene therapy is dominated by several market players. The key players are involved in product launches and strategic collaborations to strengthen their market positions.
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The product, indication, and end user segments of the worldwide gene therapy market have been identified.
According to product, the market has been segmented into kymriah, luxturna, yescarta, zolgensma, strimvelis, zynteglo, imlygic, and others.
The global market for gene therapy is divided into three categories based on indication: oncology, genetic diseases/disorders, and others. Due to the high prevalence of cancer and the strong pipeline for cancer gene therapy, the oncology category is anticipated to have the biggest market share and to grow at the fastest rate.
Hospitals & clinics, specialist treatment centres, and others are the market’s end-user segments. Due to the rising number of hospitals, the hospitals & clinics category is anticipated to have the biggest market share. Additionally, hospitals are frequently the primary option for disease treatment.
Americas, Europe, Asia-Pacific, Middle East & Africa, and Asia-Pacific Due to the increasing use of gene therapy and rising per capita healthcare costs, the Americas are anticipated to have the greatest market. North America and Latin America are the two new regions that have been added to the Americas’ gene therapy industry, with the US and Canada making up the majority of the former.
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Western Europe and Eastern Europe are two subregions of the European gene therapy market. Germany, France, the United Kingdom, Italy, Spain, and the rest of Western Europe have all been added to the list of countries in the Western European market. The Asia-Pacific gene therapy market has been divided into Japan, China, India, South Korea, Australia, and the remainder of Asia-Pacific. due to an increase in patients and more awareness about the treatment methods, the market in Asia-Pacific is expected to be the fastest-growing. The gene therapy market in the Middle East & Africa has been divided into the Middle East and Africa.
Some of the key players in the global gene therapy market are
- Amgen, Inc. (US)
- Novartis AG (Switzerland)
- Spark Therapeutics, Inc. (US)
- Gilead Sciences, Inc. (US)
- uniQure NV (Netherlands)
- Orchard Therapeutics plc (UK)
- Celgene Corporation (US)
- Bristol-Myers Squibb Company (US)
- Thermo Fisher Scientific Inc. (US)
- CEVEC (Germany)
- Lonza (Switzerland)
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