Latest News- Gene Therapy Market: In vivo is expected to lead the Delivery Mode segment during 2024-2028

The Gene Therapy Market is being driven by Increase in special drug designations

The Gene Therapy Market is expected to grow at a CAGR of 23.31% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 6738 million. In response to the rising prevalence of cardiovascular diseases (CVDs) and the imperative to provide effective treatments with expedited timelines, major pharmaceutical companies have significantly increased their research and development (R&D) investments in innovative therapies, such as gene therapy. Given the high incidence of CVDs among adults aged 65 and above, there is a growing focus on developing gene therapies for these conditions, particularly coronary artery disease and heart failure. To address the urgent need for treatment, companies are exploring the use of viral vectors to deliver angiogenic growth factors as gene therapies, with the aim of enhancing the formation of collateral vessels and improving patient outcomes. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Delivery Mode
  • In vivo
  • Ex vivo
• Therapy Area
  • Oncology
  • CNS
  • Ophthalmology
  • Rare diseases
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • UK
  • Asia
    • China
    • Japan
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in special drug designations
• Benefits associated with gene therapy
• Increasing prevalence of chronic diseases

However, the market also witnesses some limitations, which are as follows:

• High treatment cost
• Ethical issues regarding gene therapy
• Risk factors associated with gene therapy

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Market Scope in Gene Therapy Market Research Report

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Research Analysis Overview

The gene therapy market encompasses advanced treatments in the healthcare sector, driven by clinical research initiatives in the genomics field. These therapies, which include gene therapy products, offer targeted alternatives to traditional medicines, with a growing clinical pipeline undergoing preclinical testing and clinical trials for regulatory approval. Neurology indications, such as metachromatic leukodystrophy, are a focus, utilizing viral and non-viral vectors for gene replacement, gene silencing, cell replacement, and gene augmentation. The success of these therapies hinges on factors like shelf life, temperature control, and the efficacy of molecular carriers in delivering gene editing modalities to the mutated gene. Overall, gene therapy represents a significant advancement in biological therapies, offering hope for those suffering from various disease indications.

Market Research Overview

The gene therapy market is a significant segment within the larger pharmaceuticals industry, encompassing entities involved in the research and development (R&D) or production of advanced targeted therapies, gene therapy products, and traditional medicines. According to Technavio, the global pharmaceuticals market's size is determined by the consolidated revenue generated by manufacturers and providers of equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services. Factors driving the growth of this market include the increasing global population aging, with Europe and the US projected to have over 25% of their populations over 60 years old by 2030 and 2050, respectively, and the clinical pipeline's expansion, with ongoing preclinical testing and clinical trials for various gene therapy indications, such as neurology, under regulatory approval.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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