Gene Therapy Market size to grow by USD 4.61 billion from 2022 to 2027, North America to account for 39% of market growth- Technavio

NEW YORK, Nov. 3, 2023 /PRNewswire/ — The gene therapy market size is expected to grow by USD 4.61 billion from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 19.91% during the forecast period, according to Technavio Research. The market has been segmented by therapy area (oncology, CNS, ophthalmology, rare diseases, and others), delivery mode (in vivo and ex vivo), and geography (North America, Europe, Asia, and the Rest of the World (ROW)). This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read PDF Sample Report

North America accounts for 39% of the growth of the global gene therapy market share during the forecast period. The US is one of the major contributors to the market growth in North America. One of the main reasons is the funding provided by government departments such as the National Institutes of Health (NIH) and the Biomedical Advanced Research and Development Authority (BARDA) to small-scale industries and companies that are focusing on developing novel products. Hence, such factors drive the market growth in North America.

Company Profile:

Abeona Therapeutics Inc., Adaptimmune Therapeutics plc, Adverum Biotechnologies Inc., Amgen Inc., Astellas Pharma Inc., Biogen Inc., bluebird bio Inc., Editas Medicine Inc., ElevateBio, F. Hoffmann La Roche Ltd., Generation Bio Co., Gilead Sciences Inc., Novartis AG, Orchard Therapeutics Plc, Poseida Therapeutics Inc., Sangamo Therapeutics Inc., Sibiono GeneTech Co. Ltd., Syncona Ltd., uniQure NV, and Voyager Therapeutics Inc.

Abeona Therapeutics Inc: The company offers gene therapy solutions such as Phase 3 VIITAL Clinical Trial of EB 101

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Gene Therapy Market: Segmentation Analysis

The market share growth by the oncology segment is significant during the forecast period. Several companies are increasingly focusing on gene therapy due to its high success rate which is significantly contributing to the growth of this segment. For example, Novartis received approval from the US FDA to launch Kymriah (tisagenlecleucel) for the treatment of B-cell precursor acute lymphoblastic leukemia. Hence, such factors are fuelling the growth of this segment which, in turn, drives the market growth.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a PDF Sample Report

“Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021”- Technavio

Gene Therapy Market: Driver & Trend:

The increase in special drug designations is one of the key factors driving the gene therapy market growth. Several gene therapy programs received designations including orphan drug designation, fast track designation, and breakthrough designation from the US FDA, the EMA, and other regulatory bodies, for the treatment of certain disorders. In addition, these designations offer certain benefits to pharmaceutical companies. For example, orphan drug status also helps the company with tax benefits in the next research by the company. Hence, such factors drive the market growth.
Benefits associated with gene therapy
Increasing prevalence of chronic diseases

Trend

Increasing research in gene therapy for CVDs and orphan diseases is one of the primary trends that is contributing to the market growth. The market is witnessing significant change due to mergers and acquisitions (M&A). In addition, small companies and research institutes have collaborations and partnerships with the giant leaders of the pharmaceutical industry. Hence, such factors drive the market growth during the forecast period. Identify key trends, drivers, and challenges in the market. Download to gain access to this information.

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Therapy Area

Market Segmentation by Delivery Mode

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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