New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Gene Delivery Technologies Global Market Report 2023" - https://www.reportlinker.com/p06486473/?utm_source=GNW
, Bio-Rad Laboratories Inc., System Biosciences LLC, Promega Corporation, Hoffmann-La Roche AG, Catalent Inc., System Biosciences LLC, and Avantor.
The global gene delivery technologies market is expected to grow from $3.10 billion in 2022 to $3.57 billion in 2023 at a compound annual growth rate (CAGR) of 15.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The gene delivery technologies market is expected to reach $6.11 billion in 2027 at a CAGR of 14.3%.
The gene delivery technologies market consists of revenues earned by entities by providing services such as viral vector production, gene editing, gene therapy, and cell therapy.The market value includes the value of related goods sold by the service provider or included within the service offering.
Gene delivery technologies also include sales of viral and non-viral vectors, transfection reagents, gene editing tools that are used in providing gene delivery.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Gene delivery technologies refer to methods that are used to introduce foreign genetic material, such as DNA or RNA, into cells, where the goal of gene delivery is to transfer the genetic material into the target cells. These technologies are commonly used in treating diseases or disorders caused by changed gene-like mutations or an inherited gene.
North America was the largest region in the gene delivery technologies market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in gene delivery technologies report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main gene delivery technologies mode types are biological, chemical, and physical.Biological refers to the use of living organisms or their products in the development and delivery of gene therapy products.
The various methods are ex vivo, in vivo, and in vitro applied in gene therapy, cell therapy, vaccines, and research.
The increasing number of cell and gene therapies is expected to propel the growth of the gene delivery technologies market going forward.Cell and gene therapies refer to medical treatments that aim to cure or alleviate diseases by altering a patient’s body’s genetic and cellular makeup.
The increasing number of cell and gene therapies is mainly driven by advancements in gene editing technologies, playing a critical role in developing and commercializing cell and gene therapies.For instance, in October 2022, according to an article published by Economist Impact, a UK-based corporation empowering businesses, governments, and foundations to catalyze change and enable progress, in mid-2021 around 2,600 clinical trials for CGTs were underway.
Companies have conducted over half of it since 2015, and these have increased as per their research demand in multiple fields.Researchers estimate that by 2031, the United States will have 100 approved CGTs.
Additionally, between 2022 and 2031, the FDA is expected to approve 8 or 9 CGTs per year on average. Therefore, increasing cell and gene therapies drives the gene delivery technologies market.
Technological advancement has emerged as a key trend gaining popularity in the gene delivery technologies market.Major market players are concentrating their efforts on creating technologically advanced products to strengthen their position in the market.
For instance, in February 2023, Aera Therapeutics, a US-based biotechnology company, launched Aera’s Platform delivery technology to unlock the potential of genetic medicines.Aera’s PNP technology allows for the precise targeting of RNA molecules that are involved in disease processes.
This technology allows for the targeted editing of genes in a patient’s cells, offering the potential for personalized gene therapies.
In June 2021, a US-based company involved in diagnostics and life sciences, PerkinElmer, acquired SIRION Biotech for an undisclosed amount.The acquisition was aimed at expanding PerkinElmer’s capabilities in gene therapy and viral vector technologies, which are crucial to the development of gene therapies for various diseases, and it will also strengthen the company’s position as a provider of gene delivery technologies, enabling it to serve the growing demand for gene therapies better.
SIRION Biotech is a German-based provider of viral vector and gene delivery therapy.
The countries covered in the gene delivery technologies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The gene delivery technologies market research report is one of a series of new reports that provides gene delivery technologies market statistics, including gene delivery technologies industry global market size, regional shares, competitors with a gene delivery technologies market share, detailed gene delivery technologies market segments, market trends and opportunities, and any further data you may need to thrive in the gene delivery technologies industry. This gene delivery technologies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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