Gene Therapy Global Market Report 2023: Increasing Research and Development Spending in the Pharmaceutical Sector Bolsters Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Gene Therapy Global Market Opportunities and Strategies to 2032" report has been added to ResearchAndMarkets.com's offering.

The global gene therapy market reached a value of nearly $7,370.8 million in 2022, having increased at a compound annual growth rate (CAGR) of 15.8% since 2017. The market is expected to grow from $7,370.8 million in 2022 to $24,027.1 million in 2027 at a rate of 26.7%. The market is then expected to grow at a CAGR of 13.4% from 2027 and reach $45,071.9 million in 2032.

Growth in the historic period resulted from rising pharmaceutical R&D expenditure, a rise in public-private partnerships, government investments and rising cases of spinal muscular atrophy. Factors that negatively affected growth in the historic period were off-target specificity, challenges in nucleotide delivery to cells, instability of the nucleotides, challenges due to regulatory changes, low healthcare access, reimbursement challenges and the coronavirus pandemic.

Going forward, an increasing number of cancer cases, a growing aging population, increasing research and development spending in the pharmaceutical sector and a rising focus on gene therapy will drive the market. Factors that could hinder the growth of the gene therapy market in the future include high cost of gene therapy, stringent regulations and the Russia- Ukraine war.

The gene therapy market is segmented by vector into viral vector and non-viral vector. The viral vector was the largest segment of the gene therapy market by vector, accounting for $6,555.7 million or 88.9% of the total market in 2022. It is expected to be the fastest-growing segment going forward at a CAGR of 26.7%.

The gene therapy market is segmented by application into oncology, orphan disease, knee osteoarthritis and neurological disorders. The oncology market was the largest segment of the gene therapy market by application, accounting for $3,258.2 million or 44.2% of the total market in 2022. The neurological disorders market is expected to be the fastest-growing segment going forward at a CAGR of 27.7%.

The gene therapy market is segmented by end users into biopharmaceutical companies, research institutes and other end users. The biopharmaceutical companies was the largest segment of the gene therapy market by end users, accounting for $3,882.7 million or 52.7% of the total market in 2022. The other end users market is expected to be the fastest-growing segment going forward at a CAGR of 27.6%.

The gene therapy market is segmented by gene therapy type into germline therapy and somatic cell therapy. The somatic cell therapy was the largest segment of the gene therapy market by gene therapy type, accounting for $7,002.2 million or 95.0% of the total market in 2022. It is expected to be the fastest-growing segment going forward at a CAGR of 26.7%.

North America was the largest region in the gene therapy market, accounting for 44.6% of the global market in 2022. It was followed by Western Europe, Asia Pacific and the other regions. Going forward, the fastest growing regions in the gene therapy market will be South America and the Middle East, where growth will be at CAGRs of 44.4% and 42.3% respectively from 2022-2027.

The global gene therapy market is concentrated, with a few large players. The top ten competitors in the market made up to 53.81% of the total market in 2021. Novartis AG was the largest competitor with 14.57% share of the market, followed by F. Hoffmann-La Roche Ltd with 7.99%, Gilead Sciences Inc. with 7.55%, Astellas Pharma Inc. with 6.11%, Biogen Inc. with 3.81%, UniQure NV with 3.64%, REGENXBIO Inc. with 3.26%, Bristol-Myers Squibb with 2.84%, BioMarin Pharmaceuticals Inc. with 2.33% and Jazz Pharmaceuticals Inc. with 1.71%.

The top opportunities in the gene therapy market by vector will arise in the viral vector market, which will gain $14,868.9 million of global annual sales by 2027. The top opportunities in the gene therapy market by application will arise in the oncology market, which will gain $7,080.0 million of global annual sales by 2027. The top opportunities in the gene therapy market by end users will arise in the biopharmaceutical companies market, which will gain $8,883.0 million of global annual sales by 2027. The top opportunities in the gene therapy market by gene therapy will arise in the somatic cell therapy market, which will gain $15,839.6 million of global annual sales by 2027. The gene therapy market size will gain the most in the USA at $4,612.0 million.

Market-trend-based strategies for the gene therapy market include growing investments and manufacturing facility expansion, use of tetracycline-enabled self-silencing adenovirus (TESSA) technology, launch of cell and gene therapy platforms, partnerships and collaborations, rising focus on gene editing and strategic mergers and acquisitions.

Player-adopted strategies in the gene therapy industry include enhancing business operations through securing regulatory approvals, strengthening business activities through strategic collaborations and partnerships, expanding business capabilities through strategic acquisitions and strengthening operational capabilities through business expansions.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies.
• Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market research findings.
• Benchmark performance against key competitors.
• Utilize the relationships between key data sets for superior strategizing.
• Suitable for supporting your internal and external presentations with reliable high-quality data and analysis

The report covers the following chapters

• Introduction and Market Characteristics

Brief introduction to the segmentations covered in the market, definitions and explanations about the gene therapy market.

• Key Trends

Highlights the major trends shaping the global gene therapy market. This section also highlights likely future developments in the market.

• Global Market Type and Growth

Global historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods.

• Regional Analysis

Historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values and growth and market share comparison by region.

• Market Segmentation

Contains the market values (2017-2032) and analysis for each segment by gene therapy type, by vector, by application and by end users in the market.

• Regional Market Size and Growth

Regional market size (2022), historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.

• Competitive Landscape

Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.

• Key Mergers and Acquisitions

Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.

• Market Opportunities and Strategies

Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.

• Conclusions and Recommendations

This section Includes recommendations for gene therapy providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.

• Appendix

This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.

Scope

Markets Covered:

1) By Gene Therapy Type: Germline Therapy; Somatic Cell Therapy

2) By Vector: Viral Vector; Non-Viral Vector

3) By End Users: Biopharmaceutical Companies; Research Institutes; Other End Users

4) By Application: Oncology; Orphan Disease; Knee Osteoarthritis; Neurological Disorders

A selection of companies mentioned in this report includes

• Novartis AG
• F. Hoffmann-La Roche Ltd
• Gilead Sciences Inc
• Astellas Pharma Inc
• Biogen Inc

For more information about this report visit https://www.researchandmarkets.com/r/f621gz

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900