Gene Therapy Market Size, Growth, Demand, Opportunities & Forecast To 2030

Latest Study on “Gene Therapy Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2022-2030”.

The global Gene Therapy market size is expected to be worth around US$ 8.3 billion by 2030, according to a new report by Nova one advisor.

The global Gene Therapy market size was valued at US$ 2.3 billion in 2021 and is anticipated to grow at a CAGR of 20.8% during forecast period 2022 to 2030. Promising therapeutic outcomes, new product approvals & commercialization, high prevalence, and increase in incidence of cancer are projected to drive the global gene therapy market during the forecast period

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New Product Approvals & Commercialization: Major Driver

  • Increase in competition among the leading biopharmaceutical companies to approve and commercialize gene therapy products in different areas of unmet medical needs to gain the first mover advantage is expected to boost the growth of the gene therapy market during the forecast period
  • For instance, in May 2016, GlaxoSmithKline's gene therapy product, Strimvelis, received marketing approval for the treatment of patients with a very rare disease called ADA-SCID (Severe Combined Immunodeficiency, due to Adenosine Deaminase deficiency). Strimvelis is the first ex-vivo stem cell gene therapy to be approved in Europe for the treatment of ADA-SCID.
  • In August 2017, the U.S. FDA approved Novartis AG’s flagship gene therapy product Kymriah for the treatment of children and adults up to the age of 25 years affected with B-cell precursor acute lymphoblastic leukemia (ALL)

Report Scope of the Gene Therapy Market

Report Coverage

Details

Market Size

USD 8.3 Billion by 2030

Growth Rate

CAGR of 20.8% from 2022 to 2030

Largest Market

North America

Fastest Growing Market

Asia Pacific

Base Year

2021

Forecast Period

2022 to 2030

Segments Covered

 Product, End-user And Geography

 

 

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High Prevalence and Increase in Incidence of Cancer: Key Driver

  • High prevalence and increase in incidence rate of different types of cancers for which complete cure has not been developed is a key factor expected to drive the global gene therapy market during the forecast period
  • Diffuse large B-cell lymphoma (DLBCL), a type of white blood cell cancer, is a highly common aggressive form of non-Hodgkin lymphoma in adults. DLBCL affects around 7-8 cases per 100,000 population in the U.S. and the U.K. In the U.S., every year, around 7,500 patients are eligible for the treatment CAR-T cell therapy. DLBCL accounts for around 40% of all non-Hodgkin Lymphoma cases globally.
  • Gene therapy products Yescarta and Kymriah have been approved for the treatment of diffuse large B-cell lymphoma (DLBCL) and acute lymphoblastic leukemia (ALL), respectively

High Cost of Gene Therapy and Limited Reimbursement to Hamper Global Market

  • Gene therapy is a highly expensive treatment available in the world. High cost of gene therapy and limited reimbursement deter patients from availing treatment. Consequently, gene therapy companies have not generated the expected revenue.
  • For instance, Spark Therapeutics Inc.'s gene therapy product Luxturna, for the treatment of retinal dystrophy, is priced US$ 8,50,000 per treatment, making it the world’s most expensive gene therapy.
  • High price of gene therapy products is creating challenges for payers to make up front payment to these companies. However, biopharmaceutical companies, payers, and government institutions are working together to develop different pricing models for the reimbursement of gene therapy products.

Role of FDA Critical for R&D in New Gene Therapy Candidates

Gene therapy is being publicized as an important treatment alternative, as it helps to eliminate the usage of surgery, drugs, or other procedures, which can have side effects. Mergers and acquisitions (M&A) in the gene therapy market is helping stakeholders to boost R&D in neurological gene therapy products in order to treat infants with spinal muscular atrophy (SMA) type 1 (SMA1).

Companies in the gene therapy market are striving to acquire the U.S. FDA’s (Food and Drug Administration) approval for CAR-T cell therapy products for use in the treatment of appropriate R/R (relapsed or refractory) patients with large B-cell lymphoma. New gene therapy candidates hold potentials to receive the rare pediatric disease designation as well as approval for use in the treatment of metachromatic leukodystrophy from the FDA.

New COVID-19 Wave in Shanghai Accelerating R&D in Vaccines Using Gene Therapy

Companies in the gene therapy market are under scrutiny for developing COVID-19 vaccines using different technologies that are classified into four groups (nucleic acids, intact target viruses, proteins and viral vectors). New wave of Coronavirus in Shanghai, China is compelling biotechnology companies and research institutes to continuously run their R&D activities for the introduction of better treatment options.

High chances of moderate and severe symptoms with pneumonia due to the novel coronavirus is compelling academic institutes to increase research for the development of RNA vaccines and adenovirus vector vaccines that have been urgently approved.

Selective Marketing Holds Potentials to Increase Acceptance for High Cost Gene Therapies

Despite several advantages, gene therapy is a highly expensive treatment alternative, which is depriving people from underdeveloped countries of Africa and developing economies of India to opt for it, thus impeding growth of the gene therapy market. High cost of gene therapy and limited reimbursement packages tend to deter patients from availing the treatment. Such findings are restraining gene therapy companies from meeting their expected revenue targets.

It has been found that gene therapy products for the treatment of retinal dystrophy is priced approximately US$ 8,50,000 per treatment, making it the world’s most expensive gene therapy. Since gene therapy products undergo high R&D investment, companies in the gene therapy market should selectively target patients from high income groups to increase its acceptance. They should conduct surveys and develop focus groups to gain insights about individual preferences for gene therapy products.

Availability of Gene Therapy Treatment Centers Helps Increase Clinical Numbers

An uptick in success rates with gene therapy and new gene therapy product approvals have led to an increased demand for more number of treatment centers in the U.S. and Europe. After initial success rates of gene therapy, companies in the gene therapy market strive to increase the number of treatment centers in order to gain access to a large patient pool requiring gene therapy treatments.

The gene therapy product which has been approved for the treatment of patients up to the age of 25 years affected with large B-cell lymphoma, has only 41 treatment centers in the U.S., which limits a large number of patients from receiving gene therapy treatment. Hence, investment in treatment centers is necessary to increase clinical numbers.

Next-gen Gene Therapy Products Meet Requirements for Rare Diseases

Commercialization of gene therapy products in different areas of unmet medical needs to gain the first mover advantage and increasing competition among the leading biopharmaceutical companies to approve the products is expected to boost growth in the gene therapy market during the forecast period.

Next-gen gene therapy products are receiving marketing approval for the treatment of patients with a very rare disease called ADA-SCID (Severe Combined Immunodeficiency, due to Adenosine Deaminase deficiency). Strimvelis is the first ex-vivo stem cell gene therapy to be approved in Europe for the treatment of ADA-SCID.

Some of the prominent players in the Gene Therapy Market include:

  • Novartis AG
  • Orchard Therapeutics Limited
  • Celgene Corporation
  • Spark Therapeutics, Inc.
  • Gilead Sciences, Inc.
  • Sibiono GeneTech Co. Ltd., among others

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Gene Therapy market

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

By Region

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

Key Benefits for Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Gene Therapy industry analysis from 2022 to 2030 to identify the prevailing Gene Therapy industry opportunity.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the global Gene Therapy industry segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global Gene Therapy industry trends, key players, market segments, application areas, and market growth strategies.

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