Gene Therapy Market is on the Wave of Growth and Expected to Grow at a CAGR of 19.8% to 2028 | TMR Study

Demand for gene therapy products for cancer propelling lucrative opportunities; firms leveraging selective marketing strategies to support high costs of treatments


Wilmington, Delaware, United States, Oct. 20, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc.Increasing prevalence of recessive gene disorders and acquired genetic diseases including cancer is a pivot for the evolution of the gene therapy market. Burden of cancer related to blood cells such as non-Hodgkin Lymphoma and acute lymphoblastic leukemia (ALL) has spurred R&D in CAR-T cell therapy. Of note, the demand is high among the patient population in the U.S. and the U.K. The gene therapy market size was pegged at US$ 1.3 Bn in 2020.

The authors observed that the high cost of development has led to high pricing of gene therapy products, thereby constraining growth of gene therapy market. To address these concerns, biopharmaceutical companies, government institutions, and payers are working collaboratively and concertedly toward developing policies that promote reimbursement of these products. Moreover, this approach has paved the way for innovative pricing models especially targeted toward high-income patient population, underscored the gene therapy market report in the analysis of the future growth dynamics.

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Key Gene Therapy Market Study

  • Massive Potential of Gene Therapies for Rare Disorders Underpins Incredible Market Prospects: The growth of gene therapy market is propelled by growing awareness of the gene therapies in a host of diseases such as spinal muscular atrophy (SMA) type 1 (SMA1) and relapsed/refractory disease in large B-cell lymphoma. Over the past few years, firms have grown their R&D on enriching the product pipeline of rare pediatric disease. The need for next-gen therapies for ADA-SCID (Severe Combined Immunodeficiency) will open up new revenue streams, finds a recent gene therapy market report. Growing number of product approvals by the U.S. FDA and in Europe will enrich the value of gene therapy market. A case in point is the approval and commercialization of ex vivo gene therapy for the treatment of neurological disorders
  • Growing Investment in Gene Therapy Treatment Centers: In some developed nations, notably the U.S. and Europe, there is a focus on expanding gene therapy treatment centers. This will help bolster the scope of the gene therapy market. Furthermore, the growing evidence behind the success rate of the therapies in clinical trials is bolstering the prospects, observed the TMR study authors. High prevalence of cancer is a key underpinning for clinal trials on stem cell gene therapies.

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Gene Therapy Market: Key Drivers

  • Rise in number of product approvals and relentless push toward commercialization of gene therapies are bolstering the outlook of the gene therapy market. For instance, gene therapies based on stem cells have found approvals by regulatory agencies in Europe and the U.S.
  • Stridently, the past few years have witnessed advancements in bioengineering and advances in human genetics, which has accelerated the growth opportunities for market players.
  • Rise in clinical trials in stem cells supported by application of cutting-edge genomic editing technologies will extend the canvas for players in the gene therapy market.

Gene Therapy Market: Competition Landscape

Most key companies in global gene therapy market are geared toward recouping their high costs of product development by implementing targeted pricing strategies for consumers.

The TMR study found that the competition landscape is fairly consolidated. Some of the key players are Sibiono GeneTech Co. Ltd., Gilead Sciences, Inc., Spark Therapeutics, Inc., Celgene Corporation, Orchard Therapeutics Limited, and Novartis AG.

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Gene Therapy Market: Segmentation

  • Product
    • Instruments
    • Media
    • Sera
    • Reagents
  • End-user
    • Biotechnology Companies
    • Pharmaceutical Companies
    • Academic Institutes
    • Research Institutes

Regions Covered

  • North America
  • Latin America
  • Europe
  • Latin America
  • Middle East & Africa

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