Gene Therapy Market Forecast and Outlook (2024-2031)

The global gene therapy market is expected to exhibit a CAGR of 19.4% during the forecast period 2024-2031

Overview

The global gene therapy market is expected to exhibit a CAGR of 19.4% during the forecast period 2024-2031

In October 2021, the National Institutes of Health, the Food and Drug Administration, ten pharmaceutical companies, and five non-profit organizations partnered to accelerate the development of gene therapies for the 30 million Americans affected by rare diseases. Despite the existence of approximately 7,000 rare diseases, only two inherited disorders currently have FDA-approved gene therapies.

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Market Growth Trends

The High Cost of Gene Therapy Treatment

Gene therapy is an innovative medical treatment that involves modifying, removing, or adding genetic material to a patient’s genome to treat or cure a disease. Although still in its early stages, gene therapy has shown great potential in addressing previously untreatable conditions. However, in many countries, the cost of gene therapy remains largely unregulated and is determined on a case-by-case basis, often requiring a significant upfront payment.

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Market is segmented

By Therapy Type:  Somatic Gene Therapy, Germline Therapy

By Drug Class:  Cardiology, Neurology, Oncology, Infectious Diseases, Inherited Diseases, Others

By Region:  North America, Latin America, Europe, Asia Pacific, Middle East, and Africa

Market Key Players

  • Novartis AG
  • Gilead Sciences
  • Jazz Pharmaceuticals 
  • Orchard Therapeutics
  • Bristol-Myers Squibb
  • Amgen 
  • SiBiono Genentech, 
  • Shanghai Sunway Biotech Co
  • Adapt Immune Therapeutics
  • Adverum Biotechnologies

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