Market Industry Reports (MIR) has published a new report titled “Gene Therapy Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global gene therapy market is estimated to be over US$ 411.2 Mn in 2018. It is anticipated to grow at a double-digit CAGR of 33.1% from 2019 to 2030.
Rising incidences of genetic & chronic diseases globally are among the major factors driving market growth. Moreover, rising investments by governments in the research & development of gene therapy products and the growing focus of market players on getting approvals for their gene therapy products are anticipated to fuel market growth during the forecast period. However, the high cost of treatment and stringent government regulations regarding gene therapy product approvals are likely to hinder market growth to a certain extent. Major players are focusing on collaborations with other players or institutions to conduct clinical trials as well as R&D activities. For instance, in April 2018, GSK and Orchard Therapeutics signed a collaboration agreement for the development & manufacture of gene therapy medicines targeting rare diseases.
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Some of the prominent players in the Gene Therapy Market include:
Novartis AG, UniQure N.V., Regenxbio Inc., Sibiono GeneTech Co. Ltd., Amgen Inc., Voyager Therapeutics, Sarepta Therapeutics, Inc., Spark Therapeutics, Inc., Audentes Therapeutics, and Orchard Therapeutics
According to The International Agency for Research on Cancer (IARC), the global burden of cancer rose to 18.1 million new cases and 9.6 million deaths in 2018. The total number of people who are alive after 5 years of a cancer diagnosis worldwide was estimated to be 43.8 million. Therefore, the growing prevalence of cancer, chronic diseases, and genetic disorders have been pivotal in attracting government initiatives & funding for developing medicines that can cure these diseases.
In 2018, Novartis received an approval in the European Union for Luxturna, a one-time gene therapy product. This therapy has been developed to restore functional vision among children & adult patients. There are several ongoing clinical trials related to gene therapy and their numbers have drastically increased from ~160 in 2015 to ~860 in 2019. Most of these clinical trials are under the early phases of development, thereby providing the market with ample opportunities in the years to come.
The Gene Therapy Market is segmented on the basis of Product, Modality, Cancer Type, End-Users and region.
By Vector Type (Viral Vector and Non-Viral), Gene Type (Antigen, Cytokine, Tumor Suppressor, Suicide, Deficiency, Growth Factors, and Receptors), Application (Oncological Disorders, Rare Diseases, Cardiovascular Diseases, Neurological Disorders, and Infectious Diseases)
As a standard protocol at MIR, all research assignments go through the following rigorous processes.
- Secondary Research
- Primary Research
- Market Size Estimation & Forecasting
- Data Validation & Triangulation
- Report Generation
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Table of Contents
- Market Definition
- Market Classification
- Geographic Scope
- Years Considered for the Study: Historical Years – 2017 & 2018; Base Year – 2019; Forecasted Years – 2020 to 2030
- Currency Used
- RESEARCH METHODOLOGY
- Research Framework
- Data Collection Technique
- Data Sources
- Market Estimation Methodology
- Data Validation and Triangulation
- ABSTRACT OF THE STUDY
- MARKET DYNAMICS ASSESSMENT
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