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) among the elderly population and the pressing need for efficient treatment solutions, major pharmaceutical companies are significantly increasing their research and development (R&D) investments in novel, highly effective gene therapies. Given the high incidence of CVDs in adults aged over 65 years, particularly in cases of coronary artery disease and heart failure, companies are prioritizing the development of gene therapies utilizing viral vectors to deliver angiogenic growth factors. These therapies aim to stimulate the growth of collateral vessels, thereby improving patient outcomes and reducing treatment time. 

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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
• Vector Type
  • Viral Vectors
  • Non-viral Vectors
• Indication
  • Genetic Disorders
  • Cancer
  • Infectious Diseases
• Application
  • Oncology
  • Orphan Diseases
  • Neurological Disorders
  • Cardiovascular Diseases
  • Infectious Diseases
  • Hematological Disorders
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Asia
    • China
    • India
    • 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 derived from the genomics field, including gene therapy products and targeted therapies. Clinical research initiatives are underway to develop these biological therapies, with a focus on neurology indications such as metachromatic leukodystrophy. Preclinical testing and clinical trials are crucial steps towards regulatory approval. Viral vectors like AAV and non-viral molecular carriers are used for gene replacement and editing modalities. Traditional medicines are being replaced with gene therapies, which require temperature control for shelf life and various techniques like gene silencing, cell replacement, and gene augmentation. The clinical pipeline includes gene therapy for various disease indications, with regulatory approval a key milestone.

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 gene therapy products. According to Technavio, the global pharmaceuticals market, which includes manufacturers and providers of equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services, is projected to experience growth due to several factors. One such factor is the increasing global population aging, with the proportion of individuals above 60 years old in the US projected to reach approximately 25% by 2050, and Europe anticipated to reach a similar ratio by 2030. This demographic shift will fuel the demand for advanced targeted therapies, such as gene therapies, in the clinical pipeline, including preclinical testing and clinical trials, with the ultimate goal of securing regulatory approval for these innovative neurology indications. Gene therapy products, as part of the broader pharmaceuticals market, will contribute to the industry's growth, offering potential solutions to address the healthcare needs of an aging population.. 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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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/