DUBLIN–(BUSINESS WIRE)–The “Gene Therapy Global Market Report 2022, Vector, Application, End Users” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global gene therapy market.
The global gene therapy market is expected to grow from $3.18 billion in 2020 to $3.97 billion in 2021 at a compound annual growth rate (CAGR) of 24.8%.
The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $12.16 billion in 2025 at a CAGR of 32%.
- Novartis AG
- Bluebird Bio, Inc.
- Spark Therapeutics, Inc.
- Audentes Therapeutics
- Voyager Therapeutics
- Applied Genetic Technologies Corporation
- UniQure N.V.
- Celgene Corporation
- Cellectis S.A.
- Sangamo Therapeutics
- Gilead Lifesciences, Inc.
- Orchard Therapeutics
- Sibiono GeneTech Co., Ltd.
- Gensight Biologics S.A.
- Shanghai Sunway Biotech Co., Ltd.
- Sarepta Therapeutics, Inc.
- Sangamo Therapeutics
- Audentes Therapeutics
- Regenxbio, Inc.
- Gegenxbio, Inc.
- Oxford BioMedica plc.
- Dimension Therapeutics, Inc.
- Bristol-Myers Suibb Company
- Taxus Cardium Pharmaceuticals Group, Inc. (Gene Biotherapeutics)
- Shrine Plc.
- Benitech Biopharma
- Epeius Biotechnologies Corp.
- Calimmune, Inc.
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The gene therapy market consists of sales of gene therapy related services by entities (organizations, sole traders and partnerships) that manufacture gene therapy drugs. Gene therapy is used to replace faulty genes or add new genes to cure disease or improve the body’s ability to fight disease. Only goods and services traded between entities or sold to end consumers are included.
The main types of vectors in gene therapy are viral vector, non-viral vector, others. Viral vectors are methods that molecular biologists often utilize to convey genetic material into cells. It is used in oncological disorders, rare diseases, cardiovascular diseases, neurological disorders, infectious diseases, others and implemented in various sectors such as hospitals, homecare, specialty clinics, others.
Incidences of cancer and other target diseases have been increasing significantly, which is calling for effective treatments, driving the growth of the gene therapy market. The rise in the number of cancer cases across the globe is likely to contribute to the growth of the gene therapy market during the forecast period. According to the American Cancer Society, there were 1.7 million new cases and 0.6 million cancer deaths in 2019 in the USA.
The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of all the new cancer cases.
Therefore, the rise in the cancer incidence rate globally is anticipated to boost the demand for the gene therapy market over the forthcoming years. Gene therapy is one of the most effective treatments in oncology. In this treatment, new genes are introduced into a cancerous cell or the surrounding tissue to cause cell death or slow the growth of cancer. For instance, in September 2019, RMIT University, Australia has found that non-viral gene therapy can be used to speed up cancer research, which can bring patient-friendly cancer treatment in the market.
The high prices of gene therapy medicines are expected to limit the growth of the gene therapy market. The pressure to contain costs and demonstrate value is widespread. Political uncertainty and persistent economic stress in numerous countries are calling into question the sustainability of public health care funding. In less wealthy countries, the lack of cost-effective therapies for cancer and other diseases has influenced the health conditions of the population and has led to a low average life expectancy.
The use of machine learning and artificial intelligence is gradually gaining popularity in the gene therapy market. Artificial intelligence (AI) is the simulation of human intelligence in machines, which are programmed to display their natural intelligence. Machine learning is a part of AI. Machine learning and AI help companies in the gene therapy market to conduct a detailed analysis of all relevant data, provide insights between tumor and immune cell interactions, and offer a more accurate evaluation of tissue samples often conflicted between different evaluators.
For more information about this report visit https://www.researchandmarkets.com/r/rd60i5.
Laura Wood, Senior Press Manager
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