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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Gene Therapy market. Market segmentation includes Applications (Oncological Disorders, Rare Diseases, Neurological Disorders and Other Applications).

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24 November 1:15 a.m., Silicon Valley, California - According to the new market research report, the global market for Gene Therapy is projected to grow at a CAGR of 19.5% to reach US$3.4 billion by 2027, driven by increasing investments in R&D as well as mounting incidence of genetic disorders. Given the personalized approach, gene therapy is being looked upon as a promising approach in medicine. In the recent years, gene therapy has progressed from research labs to clinical trials to product approvals. As more products move toward approval, the market is likely to witness increased demand. In recent years, gene therapy products are increasingly being tested for treating various types of cancers, such as hematological cancers and prostate cancer, and chronic diseases, including neurodegenerative, ocular, and hematological diseases. The rapid growth in global population, along with growing incidence of cancer and chronic disorders, introduction of novel gene therapy-based products, strong clinical evidence for therapeutic efficacy and safety of gene therapy products, favorable reimbursement policies and guidelines, and rapidly growing demand for chimeric antigen receptor (CAR) T-cell-based gene therapies are some of the key factors driving growth in the gene therapy market. In addition, the rapid increase in geriatric population is expected to play a vital role in boosting the market growth. Moreover, rising awareness regarding the potential of gene therapy in treating various chronic diseases, ethical acceptability of gene therapy for treating cancer, and increased government support for promoting research in gene therapy are expected to bolster the market growth in the coming years.

Gene therapy products are receiving regulatory approvals at a faster rate as compared to other traditional therapeutic products, owing to their higher efficacy for the treatment of diseases, including musculoskeletal deformities, blindness, genetic disorders, chronic and acute wounds, and cancer. Since the past few years, the gene therapy regulatory landscape is evolving rapidly in various developed countries and becoming more favorable for companies involved in the development of these products. The US FDA is granting accelerated approval, orphan drug designation, breakthrough therapy designation, and regenerative medicine advanced therapy (RMAT) designations for gene therapy products to expedite their approval process. In Japan, the SAKIGAKE designation was introduced in 2015 for promoting R&D and early development of regenerative medicines as well as other innovative medical devices and pharmaceuticals. However, high treatment cost and the risk of unwanted immune responses are expected to restrain growth in the global gene therapy market over the next few years. The approved gene therapy treatments are currently extremely expensive, costing around US$400,000 for treating non-Hodgkin's lymphoma and close to US$850,000 for treating a rare form of inherited vision loss.

Oncology would remain the key area of focus for gene therapy applications. Owing to the increasing attention from biopharmaceutical companies, and being one of the highly preferred approaches for treating diseases in current times, the global market for gene therapy is expected to flourish in the coming years. Developing markets are likely to witness higher growth in the area of cancer treatment.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 656. Among this pool, 131 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 26 unique participations, a total of 12 validated responses were received as part of this report's primary research outreach program.

Key Competitors Covered in the Report -
Bristol-Myers Squibb Company
Celgene Corporation
Chiesi Farmaceutici SpA
BioMarin Pharmaceutical, Inc.
bluebird bio, Inc.
Applied Genetic Technologies Corporation
Brammer Bio LLC
CEVEC Pharmaceuticals GmbH
American Gene Technologies Inc.

Segments Covered in the Report -
Vector Type (Viral, Non-Viral)
Application (Oncological Disorders, Rare Diseases, Cardiovascular Diseases, Neurological Disorders, Infectious Diseases, Other Applications)

Geographies Analyzed in the Report -
Rest of Europe
Rest of World.

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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) ( is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.

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