Gene Therapy Market Size

Gene Therapy Market Size

Gene Therapy Market size was estimated at USD 9 billion in 2023 and is anticipated to register a CAGR of over 19.4% between 2024 and 2032. Due to the expansion of advanced medicines and gene delivery technologies such as gene vectors, increased funding for gene therapy research, increasing incidence of cancer and other target diseases for gene therapy, increasing availability of cell & gene therapy manufacturing services, and increasing number of product approval and launches.

Furthermore, increased regulatory supporting presents a development opportunity for the gene therapy industry throughout the projection period. The FDA has made substantial progress in its efforts to address the rapidly evolving technology equated with the manufacture of CAR specific T-cell therapies. Specifically in phase II and III investigations, authorities are permitting flexibility in the traditional hierarchy of clinical trials. In addition, the FDA estimated that by 2025, 10 to 20 innovative cell and gene therapies will approve each year.