IMARC Group, a leading market research company, has recently releases report titled “Gene Therapy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global gene therapy market growth, share, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Gene Therapy Market?
The global gene therapy market size reached US$ 4.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.9 Billion by 2028, exhibiting a growth rate (CAGR) of 15.39% during 2023-2028.
What is Gene Therapy?
Gene therapy is a medical approach wherein a healthy gene is delivered to a targeted tissue to produce the required protein. It involves bacterial and viral vectors, plasmid deoxyribonucleic acid (DNA), human gene-editing technology, and patient-derived cellular gene therapy. It aids in preventing disease progression by replacing a disease-causing gene with a functioning one. It also helps eliminate and prevent hereditary conditions by correcting the underlying genetic problem. Besides this, it addresses the non-functioning genes and provides a long-term treatment benefit with minimal medications. As a result, the demand for gene therapy is accelerating across the globe.
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What are the growth prospects and trends in the gene therapy industry?
The growing global aging population, which is highly susceptible to diseases, and the rising prevalence of genetic disorders among individuals represent one of the primary factors escalating the demand for gene therapy.
In addition, the increasing awareness among the masses about the benefits of gene therapy and the easy availability of healthcare services are creating a positive market outlook. Apart from this, there is a considerable rise in the construction activities of hospitals, clinics, and nursing homes due to the growing need for quality healthcare services which is positively influencing the market.
Furthermore, significant improvements in the healthcare infrastructure and the ongoing advancements in biotechnology are strengthening the growth of the market. Moreover, the rising utilization of viral vectors in novel drug delivery, as they are efficient carriers of virus-disabling sequences, is driving the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Gene Type:
- Antigen
- Cytokine
- Tumor Suppressor
- Suicide Gene
- Deficiency
- Growth Factors
- Receptors
- Others
Breakup by Vector Type:
- Viral Vector
- Adenoviruses
- Lentiviruses
- Retroviruses
- Adeno-Associated Virus
- Herpes Simplex Virus
- Poxvirus
- Vaccinia Virus
- Others
- Non-Viral Techniques
- Naked and Plasmid Vectors
- Gene Gun
- Electroporation
- Lipofection
- Others
Breakup by Delivery Method:
- In-Vivo Gene Therapy
- Ex-Vivo Gene Therapy
Breakup by Application:
- Oncological Disorders
- Rare Diseases
- Cardiovascular Diseases
- Neurological Disorders
- Infectious Disease
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Abeona Therapeutics Inc., Adaptimmune Therapeutics plc, Adverum Biotechnologies Inc., Amgen Inc., Astellas Pharma Inc., Biogen Inc., Bluebird Bio Inc., Mustang Bio Inc. (Fortress Biotech Inc.), Novartis AG, Orchard Therapeutics plc, UniQure N.V. and Voyager Therapeutics Inc.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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