Gene Therapy Market 2022 Sales, Regions, Type, Application till 2031
Gene Therapy Market: A Burgeoning Domain
Gene therapy products are rapidly making their way into the market. They give new hope to patients with rare diseases and cancers, and also present new challenges to production, distribution and reimbursement, as compared to other therapies. Several of the leading players in this space are now calling on North Carolina’s deep expertise in life science and biomanufacturing.
Gene therapy products are biological products regulated by the FDA’s Center for Biologics Evaluation and Research (CBER). Clinical studies in humans require the submission of an investigational new drug application (IND) prior to initiating clinical studies in the United States. Marketing a gene therapy product requires submission and approval of a biologics license application (BLA).
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What is Gene Therapy?
Gene therapy is a medical approach that treats or prevents disease by correcting the underlying genetic problem. Gene therapy techniques allow doctors to treat a disorder by altering a person’s genetic makeup instead of using drugs or surgery.
Type of Gene Therapy
There are two different types of gene therapy depending on which types of cells are treated:
Somatic gene therapy: transfer of a section of DNA to any cell of the body that doesn’t produce sperm or eggs. …
Germline gene therapy: transfer of a section of DNA to cells that produce eggs or sperm.
The global gene therapy market is estimated to garner around USD 6 billion in revenue by 2031 by growing at a CAGR of nearly 34% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing prevalence of cancer cases, and the ethical acceptance of gene therapy for cancer treatment. For instance, according to the World Cancer Research Fund, cancer cases all over the world were estimated to be 18.1 million in 2020, out of which, 9.3 million cases were in men and 8.8 million in women. Gene therapies are promising therapies applicable to a wide range of diseases, their aim is to radically treat the causes of the diseases instead of only relieving the symptoms.
Our in-depth analysis of the global gene therapy market includes the following segments:
Adeno Virus Vector
Adeno-associated Virus Vector
Herpes Virus Vector
Growth Drivers and Challenges Impacting the Growth of the Global Gene Therapy Market
Increasing prevalence of cancer cases, and ethical acceptance of gene therapy for cancer treatment
Rising awareness regarding benefits of using gene therapy as compared to traditional therapy
High operational costs associated with gene therapy
Unwanted immune responses
Key Companies Dominating the Global Gene Therapy Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global gene therapy market that are included in our report are Kineta, Inc., Novartis AG, Amgen Inc., bluebird bio, Inc., Gilead Sciences, Inc., Orchard Therapeutics plc, SIBIONO, Questex, CRISPR Therapeutics, Editas Medicine, and others.
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About Kenneth Research
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