Global Gene Therapy Market Size, Share, Growth Analysis, By Vector(Lentivirus, AAV), By Indication(Acute Lymphoblastic Leukemia (ALL), Inherited Retinal Disease) - Industry Forecast 2024-2031

Report ID: SQMIG35H2218 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 73 | Figures: 75

Global Gene Therapy Market News

In July 2022, Novartis Pharmaceuticals UK announces the launch of the Novartis Biome UK Heart Health Catalyst 2022, in a world-first investor partnership with Medtronic ltd, RYSE Asset Management, and Chelsea and Westminster Hospital NHS Foundation Trust and its official charity CW+

In March 2022, the National Heart Lung and Blood Institute granted USD 12 million to an Indiana University School of Medicine researcher. The grant is for exploring major themes in a gene therapy approach to safer and potentially curative treatments for hemophilia.

In August 2021, Spark Therapeutics announced that it had completed its acquisition by Roche for $4.3 billion. Spark Therapeutics is known for developing the first FDA-approved gene therapy, Luxturna, for an inherited retinal disease.

In July 2021, the European Commission approved Novartis' gene therapy Zolgensma for the treatment of patients with SMA, making it the second approved gene therapy for SMA in Europe after Biogen's Spinraza.

Global Gene Therapy Market Report Snapshots

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Gene Therapy Market size was valued at USD 6.39 Billion in 2021 and is poised to grow from USD 7.60 Billion in 2022 to USD 38.34 Billion by 2030, at a CAGR of 19% during the forecast period (2023-2030).

The global gene therapy market is highly competitive with a large number of players operating in the industry. The key players in the market are focusing on the development of new and advanced therapies to enhance their market presence. The gene therapy market is highly competitive, with a number of players focusing on the development of novel therapies for the treatment of a range of diseases. The market is expected to continue to grow in the coming years, driven by increasing investment in R&D and growing demand for new and advanced therapies for the treatment of rare and life-threatening diseases. 'Novartis International AG (Switzerland)', 'Pfizer Inc. (US)', 'Biogen Inc. (US)', 'Spark Therapeutics Inc. (US)', 'Sarepta Therapeutics Inc. (US)', 'bluebird bio-Inc. (US)', 'Gilead Sciences Inc. (US)', 'Amgen Inc. (US)', 'Regenxbio Inc. (US)', 'Krystal Biotech Inc. (US)', 'uniQure N.V. (Netherlands)', 'Avexis Inc. (US)', 'Orchard Therapeutics plc (UK)', 'Abeona Therapeutics Inc. (US)', 'Solid Biosciences Inc. (US)', 'Audentes Therapeutics Inc. (US)', 'Adaptimmune Therapeutics plc (UK)', 'Intellia Therapeutics Inc. (US)', 'Editas Medicine Inc. (US)', 'Precision BioSciences Inc. (US)'

Genetic disorders, such as spinal muscular atrophy, cystic fibrosis, and hemophilia, are on the rise worldwide. The increasing prevalence of these disorders is driving the growth of the gene therapy market, as gene therapies have shown promising results in the treatment of these disorders.

Increased focus on rare diseases: Gene therapy is becoming increasingly popular for the treatment of rare genetic disorders, which were previously ignored due to their low prevalence. For example, Zolgensma, a gene therapy for spinal muscular atrophy, was approved by the FDA in 2019 and has since become a popular treatment option. Similarly, Luxturna, a gene therapy for inherited retinal disease, was approved in 2017.

In 2022, North America emerged as the dominant region in the gene therapy market, contributing to over 65.0% of the overall revenue. It is projected to remain the largest routine manufacturer of gene therapy drugs during the forecast period, with increasing investments in R&D by companies of all sizes. The market is being driven by rising government investments and the growing prevalence of targeted diseases in the region, such as spinal muscular atrophy, affecting 10,000 to 25,000 individuals in the U.S. alone, according to the Spinal Muscular Atrophy Foundation.

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Global Gene Therapy Market Size, Share, Growth Analysis, By Vector(Lentivirus, AAV), By Indication(Acute Lymphoblastic Leukemia (ALL), Inherited Retinal Disease) - Industry Forecast 2024-2031

Global Gene Therapy Market News

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