|
Home | Technology News Search Engine:
|
|
|
|
Home: Technology News:
|
|
|
(IT-NEWSWIRE.COM, February 22, 2025 ) The Global Gene Therapy Market was valued at USD 4.67 billion in 2023 and is projected to grow significantly, reaching USD 51.22 billion by 2031. The market is expanding at a CAGR of 31.89% during the forecast period 2024-2031.
Download Free Sample: https://www.datamintelligence.com/download-sample/gene-therapy-market
Market Dynamics:
Increasing Government and Private Sector Investments in Gene Therapy Research
Rising funding and investments serve as key drivers for the expansion of the global gene therapy market. Governments worldwide are increasing financial support to establish dedicated research centers for gene therapy, focusing on developing treatments for rare genetic disorders, cancer, cardiovascular diseases, and other chronic conditions. Recognizing the potential of gene therapy to address unmet medical needs, governments are actively promoting research to accelerate the introduction of innovative therapies.
Beyond government funding, private sector investments are significantly contributing to market growth. Biotech companies are allocating substantial resources to gene therapy research and development, aiming to expand their global presence. Many firms are launching new operations and forming collaborations to enter emerging markets and enhance accessibility to advanced treatments.
A notable example is the launch of India’s first home-grown gene therapy for cancer, CAR-T cell therapy, on April 4, 2024. Introduced by India’s President, Smt. Droupadi Murmu, at IIT Bombay, this groundbreaking therapy marks a significant advancement in making gene-based cancer treatments more accessible and affordable. With its potential to revolutionize cancer care, this innovation brings new hope to patients worldwide. Supported by both government and private investments, the successful development and introduction of such therapies are expected to further drive innovation and expansion within the gene therapy market.
Market Segments:
By Therapy Type: Somatic Gene Therapy, Germline Therapy.
By Drug Class: Cardiology, Neurology, Oncology, Infectious Diseases, Inherited Diseases, Others.
By Region: North America, Europe, South America, Asia Pacific, Middle East, and Africa.
Customize Your Sample: https://www.datamintelligence.com/customize/gene-therapy-market
Market Geographical Share:
North America to Maintain Market Dominance Throughout the Forecast Period
North America remains the dominant region in the global gene therapy market, accounting for approximately 41.2% of the market share. This leadership is driven by substantial government funding, continuous advancements in gene therapy research and development, and the increasing prevalence of target diseases across the region.
A key milestone in the market’s growth is the recent approval by the U.S. Food and Drug Administration (FDA) of the first-ever reasonable gene therapy for dystrophic epidermolysis bullosa (DEB), a rare skin disease. The therapy, VYJUVEK (beremagene geperpavec-svdt), is authorized for DEB patients aged six months and older. This topical gel delivers functional copies of the COL7A1 gene, promoting wound healing and ensuring sustained COL7 protein expression through repeated dosing.
Such groundbreaking approvals, coupled with strong regulatory support and research investments, continue to reinforce North America's position as the leading market for gene therapy advancements.
Market Key Players:
Novartis AG
Gilead Sciences
Jazz Pharmaceuticals
Orchard Therapeutics
Bristol-Myers Squibb
Amgen
SiBiono Genentech,
Shanghai Sunway Biotech Co
Adapt Immune Therapeutics
Adverum Biotechnologies
Key Developments:
February 2023: Charles River and Purespring Therapeutics announced a gene therapy manufacturing collaboration. The partnership leverages Charles River’s eXpDN plasmid platform and its extensive experience in plasmid DNA manufacturing to support the development of the first gene therapy platform targeting renal diseases. These conditions impact approximately 840 million people worldwide, or 10% of the global population.
May 2023: Forge Biologics and LabCorp entered into a strategic partnership to accelerate gene therapy development. The collaboration aims to shorten trial timeframes, eliminate analytical development restrictions, and address regulatory challenges associated with manufacturing and development processes.
January 2023: Cryoport and Syneos Health formed a strategic partnership to advance cell and gene therapies. The collaboration integrates Syneos Health’s comprehensive clinical development services with Cryoport’s IntegriCell platform. This includes standardized apheresis collection via BioLife Cellular Therapy Services (part of Takeda), cryopreservation, risk mitigation services, logistics support, and secondary packaging.
DataM Intelligence
Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
Source: EmailWire.Com 
Source: EmailWire.com
|
|
|
|
|
Technology News Headlines
|
|
|
|
|
Technology Business Video Feed
|
|
More Technology Video Feeds
|
|
|
