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May 16, 2024
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Gene Therapy Market Overview
Over the past decade, industry stakeholders have been extensively working towards the development of novel gene therapies for the treatment of a variety of diseases, specifically inherited diseases characterized by mutations in the gene. The gene therapy market is estimated to be worth $2.6 billion in 2023 and is expected to grow at compounded annual growth rate (CAGR) of 18.0% during the forecast period. The domain has witnessed significant advancements recently, both in terms of improvement of existing techniques and introduction of novel and innovative technical solutions.
The gene therapy market is likely to be worth USD 2.6 billion in 2023, growing at a CAGR of 18% in the given period.
Gene Therapy Market Segmentation
Gene Therapy Market include :Type of Therapy, Type of Gene Delivery Method Used, Type of Vector Used, Target Therapeutic Areas, Route of Administration, and Key Geographical Regions. As a result, a number of patents have been filed / granted to protect the new intellectual capital generated by industry / non-industry stakeholders engaged in this domain.
Majority of the patents were filed / granted in North America, followed by Europe and Asia-Pacific. Moreover, despite the large number of patents that have been filed recently (and hence having a long remaining patent life) very less percent of the total patents have the highest relative valuation.There are approximately 565 funding instances focused on gene therapies, during the period 2015-2022 (till February).The overall trend of investment in this domain has been very promising.
It is worth highlighting that the maximum number of funding instances were reported by companies based in North America. Within this region, the maximum amount was raised through secondary offerings, followed by funds received through venture capital rounds. In Asia-Pacific, maximum funding initiatives were observed to be undertaken by players based in China and South Korea.
Estimates on the evolution of the market till 2035 is provided. It includes Forecasted revenue generation potential based on anticipated sales of drugs that are either approved or in late stages of clinical development. It is worth mentioning that, till date, eleven gene therapies have been commercialized. As more late-stage drug candidates receive approvals in mid-long term, we expect this field to witness significant growth.
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