August 18, 2022 09:42 ET | Source: Facts & Factors Facts & Factors
NEW YORK, United States, Aug. 18, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Gene Therapy Market Size, Share, Growth Analysis Report By Vector Type (Viral Vector and Non-Viral Vector), By Therapy (In Vivo Therapy and Ex Vivo Therapy), By Gene Type (Antigen, Cytokine, Tumour Suppressor, Suicide, Deficiency, Growth Factors, Receptors, and Others), By Application (Oncological Disorders, Rare Diseases, Neurological Disorders, and Other Diseases), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Gene Therapy Market size & share was valued at approximately USD 2415.10 million in 2021. The market is expected to grow above a CAGR of 20.10% and is anticipated to reach over USD 7247.58 million by 2028.”
The report analyses the Gene Therapy market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Gene Therapy market.
What is Gene Therapy? How big is the Gene Therapy Industry?
A gene is a basic genetic building block of life that carries a set of instructions for carrying out a certain task. The treatment for cancer, chronic illnesses, infectious diseases, and blood issues is gene therapy. In order to treat or stop the progression of a disease, gene therapy involves replacing defective genes with healthy ones within the body of the patient. The increase in chronic diseases such as cancer, rare illnesses, genetic disorders, and others is a significant driver driving the Gene Therapy Market Growth.
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One of the main factors propelling the growth of the gene therapy market is the rise in the prevalence of chronic diseases including cancer, uncommon illnesses, genetic disorders, and others. The number of cases of uncommon diseases in the world has increased significantly, fuelling the necessity for cell and gene therapy. Owing to the rise in demand for Gene Therapy, the global Gene Therapy market is estimated to grow at a CAGR of 20.10% during the forecast period.
The increasing occurrence of uncommon illnesses has also increased competition for novel treatments, propelling the gene therapy industry. Ex-vivo gene therapy is gaining popularity for neurological therapies, which will boost gene therapy market growth. The expanding usage of gene manipulation in biotechnology applications, as well as the rising use of genome engineering in a number of treatments, is also projected to guide the gene therapy industry in the next years. High gene therapy prices and a lack of uniformity are predicted to stymie the worldwide gene therapy sector.
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Gene Therapy Market: COVID-19 Impact Analysis
The COVID-19 pandemic is anticipated to benefit the industry for gene therapy. The creation of COVID-19 vaccines is expected to make substantial use of gene and cell therapy technology. Given that it comes in a single dose and can be stored at room temperature, the vaccine currently being developed is likely to be much more practical than the ones now available on the market.
The therapies of coronavirus from the perspective of RNA interference-based gene therapy also offer a more straightforward approach to combating viral genes and are likely to have a promising future, according to a January 2021 article published under the title, Emerging Patent Landscape for Gene Therapy as a Potential Cure for COVID-19.
The report contains qualitative and quantitative research on the global gene therapy market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main players in the global Gene Therapy market include;
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Gene Therapy Market: Segmentation Analysis
The Global Gene Therapy Market is segregated based on vector type, therapy, gene type, application, and region. Based on vector type, the market is divided into Viral Vectors and Non-Viral Vectors. Among these, the viral vector segment dominates the market in 2021. Based on therapy, the market is divided into In Vivo Therapy and Ex Vivo Therapy. Over the forecast period, the in vivo therapy segment is expected to develop at the fastest rate in 2021.
Based on gene type, the market is divided into Antigen, Cytokine, Tumour Suppressor, Suicide, Deficiency, Growth factors, Receptors and Others. Among these, the antigen segment dominates the market in 2021. Based on application, the market is divided into Oncological Disorders, Rare Diseases, Neurological Disorders and Other Diseases. Among these, the oncological disorder segment dominates the market in 2021.
North America is expected to dominate the Global Gene Therapy Market in 2021. Several government authorities are investing in the region due to the presence of a big number of biopharma businesses and a solid regulatory environment for stimulating the growth of cellular treatment. As a result, the regional market is advancing. The existence of gene therapy research and development centers and institutions is projected to propel the market in North America.
Over the forecast period, the Asia Pacific regional market is expected to grow at a significant rate in 2021. The rising emphasis on healthcare in India is likely to fuel gene therapy demand throughout the predicted period. A rise in cancer cases in the country is also promoting the use of gene therapy in oncology therapies.
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The global gene therapy market is segmented as follows:
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