The gene therapy market was valued at US$3.425 billion in 2018 and is anticipated to grow at a CAGR of 16.92% to reach a market size of US$8.748 billion by 2024. Gene Therapy is to insert genes instead of drugs in order to treat a disease or a disorder. It is done either:
• to replace an unhealthy gene with a healthy copy of a gene
• to inactivate or knock out a gene not functioning properly
• to introduce a new gene into a body in order to fight disease.
Gene Therapy has a huge potential in curing otherwise deadly diseases. It is used in treating diseases like cancer, diabetes, inherited blindness, HIV, etc. Hence, at present and in the future cancer gene therapy will hold a significant market share due to advancements in cancer research and treatment. Although gene therapy medicines are being commercialized major revenue is still being gained by clinical research, this is because it involves the use of gene therapy on human beings, therefore, efforts are made to focus more on clinical research before being market-ready. Hence, growing clinical trials worldwide are further driving the market growth in the forecast period and in the coming years.
Geographically, North America is expected to hold a significant market share owing to the prevalence of cancer in addition to the highest health expenditure of the United States among all the developed regions of the world.
The Gene Therapy Market – Forecasts from 2019 to 2024 is an exhaustive study that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key markets, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by type, technique, vector type, indication, and geography.
The gene therapy market has been segmented based on type, technique, vector type, indication, and geography. Based on type, the market has been segmented into somatic gene therapy and germline gene therapy. On the basis of technique, the market has been segmented into gene augmentation, gene inhibition, and the killing of specific cells. Based on vector type, the market is segmented into viral vectors and non-viral vectors. By indication, the market is categorized as rare diseases, cardiovascular, oncology, and others.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa (MEA), and the Asia Pacific regions. The report also analyzes 15 major countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the gene therapy market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the gene therapy market.
|Market size value in 2018||US$3.425 billion|
|Market size value in 2024||US$8.748 billion|
|Growth Rate||CAGR of 16.92% from 2018 to 2024|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Technique, Vector Type, Indication, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||AveXis, Inc, Pfizer Inc., MeiraGTx Limited, Errant Gene Therapeutics, American Gene Technologies Inc., IVERIC bio, Inc., Lysogene, AVROBIO, Inc., Adverum Biotechnologies, Spark Therapeutics, Inc.|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the gene therapy market size by 2024?
A1. The gene therapy market is anticipated to reach a total market size of US$8.748 billion by 2024.
Q2. What is the size of the global gene therapy market?
A2. Gene Therapy Market was valued at US$3.425 billion in 2018.
Q3. What are the growth prospects for the gene therapy market?
A3. The global gene therapy market is anticipated to grow at a CAGR of 16.92% during the forecast period.
Q4. Which region holds the largest market share in the gene therapy market?
A4. Geographically, North America is expected to hold a significant share in the gene therapy market owing to the prevalence of cancer in addition to the highest health expenditure of the United States among all the developed regions of the world.
Q5. How is the global gene therapy market segmented?
A5. The gene therapy market has been segmented based on type, technique, vector type, indication, and geography.
Errant Gene Therapeutics
American Gene Technologies Inc.
Spark Therapeutics, Inc.
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