Global Gene Therapy Market to Reach $6.21 Billion by 2026: AMR

Surge in investments in R&D activities, rise in prevalence of cancer, and increase in awareness about benefits drive the growth of the global gene therapy market

PORTLAND, Oregon, Feb. 4, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Gene Therapy Market by Vector Type (Viral Vector and Non-viral Vector), Gene Type (Antigen, Cytokine, Tumor Suppressor, Suicide, Deficiency, Growth Factors, Receptors, and Others), and Application (Oncological Disorders, Rare Diseases, Cardiovascular Diseases, Neurological Disorders, Infectious Disease, and Other Diseases): Global Opportunity Analysis and Industry Forecast, 2019–2026" According to the report, the global gene therapy industry generated $393.35 million in 2018, and is expected to generate $6.21 billion by 2026, growing at a CAGR of 34.8% from 2019 to 2026.

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Surge in investments in R&D activities, rise in prevalence of cancer, and increase in awareness about benefits drive the growth of the global gene therapy market. However, expensive costs related to gene therapies and undesirable responses from immune system restrain the market growth. On the other hand, unlocked potential from the emerging markets would offer new opportunities in the near future.

Based on vector type, the viral vector segment accounted for the highest market share in 2018, holding more than half of the global gene therapy market, owing to ease in modifications offered by many viruses including Lentivirus, RetroVirus & Gamma RetroVirus, and Adeno-Associated Virus (AAV) for developing gene therapy drugs. However, the non-viral vector segment is estimated to grow at the fastest CAGR of 38.8% from 2019 to 2026. This is due to technological advancements taking place in physicochemical approaches of non-viral vectors.

Based on gene type, the tumor suppressor segment is estimated to portray the highest CAGR of 52.9% during the forecast period, owing to surge in number of methodology and clinical trials adopted for the gene therapy treatment. However, the antigen segment accounted for the highest share in 2018, accounting for more than one-fifth of the market, owing to the presence of different genetic mutations and dysregulated gene expression presented by tumor cells.

Based on region, North America accounted for the highest share in 2018, contributing for nearly half of the global gene therapy market, owing to rise in prevalence of rate of cancer and increase in investments for R&D activities. However, Asia-Pacific region is expected to grow at the fastest CAGR of 45.4% from 2019 to 2026, owing to increase in number of people getting affected by chronic diseases and launches of new gene therapy products.

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Major market players

• Adaptimmune Therapeutics Plc.,
• Adverum Biotechnologies, Inc.,
• Applied Genetic Technologies Corporation,
• Abeona Therapeutics Inc.,
• Audentes Therapeutics, Inc.,
• Bluebird Bio, Inc.,
• GlaxoSmithKline Plc.,
• Merck & Co., Inc.,
• REGENXBIO Inc.,
• Novartis AG,
• Sangamo Therapeutics, Inc.,
• Spark Therapeutics, Inc.,
• Uniqure N. V.,
• Voyager Therapeutics, Inc.,
• Others

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