The latest report from Astute Analytica, focusing on the worldwide Gene Therapy Market, provides a thorough analysis of the factors poised to shape the market’s future direction. The report covers a range of sections, including Market Overview, Trends, Key Players, Segmentation, and more. Moreover, it offers valuable insights into past innovations and the current progress to present a comprehensive perspective on emerging trends.
Overview of Gene Therapy Market
The Global Gene Therapy Market reached nearly US$ 3.44 Billion in 2022 and is projected to expand at a CAGR of approximately 24% from 2023 to 2030. This growth is driven by the rising entry of companies into the market. To further fuel this expansion, the US FDA anticipates receiving over 200 new applications for cell and gene therapy initiation annually and granting approval for 10-20 therapies each year by 2025.
Gene therapy is a revolutionary medical approach that targets diseases resulting from the transfer of hereditary material into cells. This versatile technique finds applications across a wide spectrum of medical conditions, encompassing cancer, neurological disorders, hepatological diseases, dystrophy, and numerous other indications. Notably, the adoption of CAR T-Cell therapy has garnered considerable attention, propelling the growth of the gene therapy market, especially within the pharmaceutical industry’s development pipeline.
Drivers of Gene Therapy Market
Prevalence of Medical Conditions
The rising prevalence of the mentioned medical indications has been a pivotal driver in propelling market growth. For instance, the International Agency for Research on Cancer (IARC) reported a significant increase in cancer cases, reaching 19.3 million in 2020, accompanied by a staggering 10 million cancer-related deaths in the same year.
Neurological Disorders
Neurological disorders, characterized by structural, electrical, or biochemical abnormalities in the brain and nervous system, further contribute to the market’s momentum. Epilepsy, as a prominent neurological disorder, affects a substantial number of individuals globally, with the World Health Organization (WHO) estimating that over fifty million people worldwide grapple with this condition.
Gene Therapy Market Impact
The profound impact of gene therapy in addressing these medical conditions underscores its potential as a transformative medical intervention. The market’s growth is marked not only by its financial viability but also by its profound societal implications. As the pharmaceutical industry’s pipeline continues to advance, gene therapy stands as a beacon of hope for countless individuals afflicted by these conditions.
Key Players of Gene Therapy Market
Novartis AG
Biogen
Gilead Sciences, Inc.
Sarepta Therapeutics, Inc.
Amgen Inc.
Neurophth Therapeutics, Inc.
Segmentation Overview of Gene Therapy Market
The Gene Therapy market can be segmented on the basis of the following segments:
By Indication
Cancer
Cardiovascular Diseases
Hepatological Diseases
Infectious Disease
Neurological Disorders
Oncological Disorders
Rare Diseases
Others Diseases and Disorders
By Vector Type
Viral
Adenovirus
Adeno-associated Virus
Herpes Simplex Virus
Lentivirus
Poxvirus
Retrovirus
Vaccinia Virus
Others
Non-viral
Electroporation
Gene Gun
Naked Plasmid Vector
Lipofection
Others
By Gene Type
Antigen
Cytokine
Deficiency
Growth Factors
Receptors
Suicide Gene
Tumour Suppressor
Others
By Method of Delivery
Ex-vivo
In-vivo
Conclusion:
The gene therapy market is poised for remarkable growth, driven by advancements in biotechnology and the potential for personalized treatments. Challenges such as regulatory hurdles and safety concerns exist, but ongoing research and collaborations offer hope for treating previously untreatable genetic conditions. This market represents both a significant business opportunity and a pathway to transformative medical breakthroughs.
Content Source: Gene Therapy Market
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