Gene Therapy Market worth $36.55 billion by 2032
The report "Gene Therapy Market by Type (Gene silencing), Vector (Viral (Retroviral, AAV), Non-viral (Oligonucleotide)), Gene Type (Receptors, Cytokine), Therapeutic Area (Oncology, Neurology), Delivery Method (In-Vivo, Ex-Vivo), RoA (IV) - Global Forecast to 2032", is projected to reach USD 36.55 billion by 2032 from USD 8.85 billion in 2024, at a CAGR of 19.4% during the forecast period of 2024 to 2032. Some factors contributing to the growth of the global market include growing demand for curative therapies for genetic disorders, rare diseases, and specific types of cancer, and robust clinical trial pipeline for gene therapy. For instance, according to M&M, around 19 gene therapy product are expected to launched between 2026 to 2032 and which will contribute closely to 25% of the 36.55 B market in 2032.
Browse 660 market data Tables and 60 Figures spread through 433 Pages and in-depth TOC on "Gene Therapy Market by Type (Gene silencing), Vector (Viral (Retroviral, AAV), Non-viral (Oligonucleotide)), Gene Type (Receptors, Cytokine), Therapeutic Area (Oncology, Neurology), Delivery Method (In-Vivo, Ex-Vivo), RoA (IV) - Global Forecast to 2032"
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Moreover, high cost of gene therapy products and limited manufacturing scalability are projected to impede market development.
The neurology segment accounted for the largest share by therapeutic area segment in the gene therapy market in 2023.
Based on therapeutic area, the gene therapy market is segmented into neurology, oncology, hematology and other therapeutic areas. Neurology segment dominated the market in 2023 and are expected to dominate the market in the forecast period. High growth of this segment is attributed to several factors such as the presence of large number of gene therapy products against neurological indications and focus of gene therapy clinical pipeline on neuromuscular disorders such as Spinal Muscular Atrophy, Duchenne Muscular Syndrome. Additionally, growing focus on development of gene therapy products for rare genetic disorder such as limb-girdle muscular dystrophy (LGMD) is driving the need for eseffective treatment resulting to boost the segment growth.
The In vivo delivery method segment dominated the gene therapy market in 2023 and is expected to grow in coming years.
Based on delivery method, the gene therapy market is segmented into in vivo and ex vivo delivery methods. The in vivo segment accounted for the largest share of the gene therapy market in 2023. In vivo delivery method is also the fastest growing segment in this market. The large share of in vivo delivery method can be attributed to the fact that many marketed gene therapies employ in vivo method of delivery gene therapies in the market. Besides, the clinical pipeline is also largely focused on in vivo delivery method due to the advantages of this method of delivery over ex vivo.
North America region accounted for largest share in the gene therapy market.
Based on the region, the gene therapy market is segmented into six major regions: North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The North American market for gene therapy holds major market share. The share of this market can be attributed to several key factors. Some of the factors include the strong presence of key market players offering gene therapy products, increasing gene therapy approvals by US Food and Drug Administration, and increasing R&D spendings in biopharmaceutical industries. Additionally, growing pharmaceutical industry in the region is likely to support the growth of gene therapy market in North America region.
Key players in the gene therapy market include Biogen Inc. (US), Novartis AG (Switzerland), Alnylam Pharmaceuticals, Inc. (US), Sarepta Therapeutics, Inc. (US), Jazz Pharmaceuticals Plc (Ireland), Ferring B.V. (Switzerland), Pfizer Inc. (US), Amgen, Inc. (US), Johnson & Johnson Services, Inc. (US), Daiichi Sankyo Company, Limited. (Japan), BioMarin Pharmaceutical Inc. (US), Kyowa Kirin Co., Ltd. (Japan), Nippon Shinyaku Co., Ltd. (Japan), PTC Therapeutics (US), UniQure NV (Netherlands), Juventas Cell Therapy Ltd. (China), CRISPR Therapeutics (Switzerland), bluebird bio, Inc. (US), Krystal Biotech, Inc. (US), Shanghai Sunway Biotech Co., Ltd. (China), JW (Cayman) Therapeutics Co. Ltd (China), IASO Biotechnology (China), CARsgen Therapeutics Holdings Limited (China), Adaptimmune. (UK), Sibiono GeneTech Co. Ltd. (China), and Ultragenyx Pharmaceutical Inc. (US)
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