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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.
Why are non-viral vectors used in gene therapy?
The non-viral vector segment accounted for a sizable revenue share in 2022 and is estimated to grow significantly through 2032 as non-viral vectors are less likely to trigger immune responses and are associated with lower toxicity, which makes them suitable for clinical use.
What is the gene therapy market size?
Global market for gene therapy was worth USD 9 billion in 2023 and is projected to record growth at 19.4% CAGR from 2024 to 2032 owing to the expansion and development of advanced medicines and gene delivery technologies.
Who are the top players operating in the global gene therapy industry?
The top players engaged in the global market are Merck KGaA, REGENXBIO, Inc., Oxford BioMedica plc, Dimension Therapeutics, Inc., Bristol-Myers Squibb Company, SANOFI, Applied Genetic Technologies Corporation, F. Hoffmann-La Roche Ltd, bluebird bio, Inc., Novartis AG, Orchard Therapeutics, Gilead Lifesciences, Inc., BENITEC BIOPHARMA, Sibiono GeneTech Co., Ltd, and Shanghai Sunway Biotech Co., Ltd.
How big is the North America gene therapy market?
The North America market is set to grow at a rate of 19.2% over 2023-2032 attributed to the strong financial and government support, availability of advanced healthcare infrastructure, and robust R&D ecosystem.