Gene Therapy Market To Rise Up At Exponential Growth Of CAGR Of 20.4% From 2021 To 2028

  

Gene Therapy Industry Overview

 

The global gene therapy market size was valued at USD 2.26 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 20-.4% from 2021 to 2028.

 

The expanding arena of advanced therapies and gene delivery technologies has created an increasingly competitive dynamic where a substantial number of market players are engaged in the commercialization of their gene therapy products. Therapy developers are investing in collaboration/mergers and acquisition deals as a viable strategy to enhance in-house expertise and strengthen product pipelines. These factors are expected to boost the market growth. Although the high prices of currently available therapies incentivize therapy development, it limits accessibility and can result in market withdrawals due to the lack of economic viability of the products.

 

Gather more insights about the market drivers, restrains and growth of the Global Gene Therapy Market

 

Thus, several payment models, such as financial-based agreements and health outcomes-based agreements, have been introduced or suggested to increase the accessibility and market survival of therapies. These models have significantly impacted the adoption of therapies in the market. Currently, the world is trying to mitigate the adverse impact of the SARS-CoV-2 pandemic to restore the revenue flow in markets. The cell and gene therapy sector has been impacted to a considerable extent. Since many universities have shut down and halted all non-essential research & enrollment processes for clinical trials, progress in the ongoing R&D has been slow.

 

However, several initiatives have been undertaken by biopharma companies to gain a competitive edge in the market. Companies are adopting various market entry strategies, such as biopharma facility expansions, collaborations with other key stakeholders, and development with Contract Manufacturing Organizations (CMOs). For instance, in March 2020, Univercells launched Exothera, a viral vector CDMO that serves cell and gene therapy developers.

 

The delay in commercialization of Zynteglo due to the pandemic has impeded the market growth to a considerable extent. On the other hand, in July 2020, Novartis received the EMA approval for its two European sites for commercial manufacturing of CAR-T therapies. Furthermore, Kite, a Gilead Company, received the U.S. FDA approval for its Tecartus, a CAR T treatment for patients with relapsed or refractory mantle cell lymphoma. These approvals depict the continued momentum of the new area of medicine in this segment.

 

Browse through Grand View Research's Biotechnology Industry Research Reports.

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Gene Therapy Market Segmentation

Grand View Research has segmented the global gene therapy market on the basis of indication, vector type, and region:

Gene Therapy Indication Outlook (Revenue, USD Million, 2017 - 2028)

  • Acute Lymphoblastic Leukemia (ALL)
  • Inherited Retinal Disease
  • Large B-cell Lymphoma
  • ADA-SCID
  • Melanoma (lesions)
  • Beta-Thalassemia Major/SCD
  • Head & Neck Squamous Cell Carcinoma
  • Peripheral Arterial Disease
  • Spinal Muscular Atrophy (SMA)
  • Others

Gene Therapy Vector Type Outlook (Revenue, USD Million, 2017 - 2028)

  • Lentivirus
  • AAV
  • Retrovirus & gamma Retrovirus
  • Modified Herpes Simplex Virus
  • Adenovirus
  • Non-viral Plasmid Vector

Gene Therapy Regional Outlook (Revenue, USD Million, 2017 - 2028)

  • North America
  • Europe
  • Asia Pacific
  • Australia
  • Rest of the World

 

Market Share Insights

  • March 2020: REGENXBIO, Inc. and Ultragenyx Pharmaceutical, Inc. collaborated for the use of the NAV technology platform. The latter company received a worldwide license to REGENXBIO’s NAV AAV9 and AAV8 vectors for the development of gene therapies for a rare metabolic disorder.
  • May 2019: Novartis received approval from the U.S. FDA for Zolgensma, which is designed to address the root cause of SMA.

 

Key Companies profiled:

Some prominent players in the global gene therapy market include

  • REGENXBIO, Inc.
  • Oxford BioMedica plc
  • Dimension Therapeutics, Inc.
  • Bristol-Myers Squibb Company
  • SANOFI
  • Applied Genetic Technologies Corporation
  • Hoffmann-La Roche Ltd.
  • Bluebird Bio, Inc.
  • Novartis AG
  • Taxus Cardium Pharmaceuticals Group, Inc. (Gene Biotherapeutics)
  • UniQure N.V.
  • Shire Plc
  • Cellectis S.A.
  • Sangamo Therapeutics, Inc.
  • Orchard Therapeutics
  • Gilead Lifesciences, Inc.
  • Benitec Biopharma Ltd.
  • Sibiono GeneTech Co., Ltd.
  • Shanghai Sunway Biotech Co., Ltd.
  • Gensight Biologics S.A.
  • Transgene
  • Calimmune, Inc.
  • Epeius Biotechnologies Corp.
  • Astellas Pharma, Inc.
  • American Gene Technologies
  • BioMarin Pharmaceuticals, Inc.

 

Order a free sample PDF of the Gene Therapy Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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