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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