Gene Therapy Market – Global Outlook & Forecast 2021-2031

Gene Therapy Market by Vector Type [Viral Vector and Non-Viral Vector], Delivery Method [In Vivo Gene Therapy and Ex Vivo Gene Therapy], Disease Indication [Cancer, Neurological Diseases, Rare Diseases and Cardiovascular Diseases] – Global Analysis & Forecast 2021-2031

Clairvoyance Research conducted an in-depth market analysis study of the global gene therapy market. According to the study, the market was valued at ~US$ 4.87 billion in 2020. The market is expected to witness a CAGR of ~28.2% from 2021 to 2031. 

Rising prevalence of various chronic diseases such as cancer & rare genetic disorders, robust pipeline, increasing investment for R&D activities to launch more effective therapy, and growing government initiatives are some of the pivotal factors propelling the growth of the gene therapy market. However, high cost of therapy is likely to hinder the growth of the market to a certain extent.

With an aim to fast-track the development of gene therapy and to meet the needs of the healthcare sector, several initiatives such as providing necessary funding, grants, permissions, clearances & approvals have been instigated by various organizations and government agencies across the world. For instance, in May 2020, Cure Sanfilippo Foundation has granted $380,000 to the New York-based biotechnology company Phoenix Nest to support the development of the first-ever gene therapy to treat children with the rare genetic neurodegenerative disease Sanfilippo syndrome type C.

A report released in 2020 by the Pharmaceutical Research and Manufacturers of America (PhRMA) stated that there were around 362 investigational cell and gene therapies in clinical development, which was a 20% increase since 2018. Nearly half of all cell and gene therapies in clinical trials were aimed at treating cancer. There are currently nine cell or gene therapy products approved by the US Food and Drug Administration (FDA). Therefore, increasing R&D activities and robust pipeline of gene therapies is expected to propel the growth of the market in the forecast period.

In order to be competitive in the market, several prominent players are progressively implementing several strategies such as technological advancements, acquisitions and/or collaborative initiatives with several organizations, research centers & companies for R&D activities. For instance, in Oct 2020, Bayer announced a $4 billion pharma acquisition deal with Asklepios BioPharmaceutical (AskBio) to broaden its base in cell and gene therapy. This acquisition allowed Bayer to own full rights to AskBio’s gene therapy platform, which includes investigational pre-clinical and clinical stage candidates for the treatment of neuromuscular, central nervous system, cardiovascular, and metabolic diseases.

However, high cost of therapy may hamper the growth of market to a certain extent. Gene therapy costs ranges from $373,000 for a single dose of the CAR-T therapy Yescarta to $2.1M for Zolgensma. Besides, as these prices are only for the therapies themselves, hospital stays, complications, and other medications may easily increase the overall cost of treatment. The high cost of the therapy and lack of reimbursement in emerging countries is likely to be a potential barrier to patient access, which in turn is expected to limit the growth of the market.

The Asia Pacific region is expected to be the fastest growing gene therapy market. Factors such as developing healthcare infrastructure, rising prevalence of various genetic disorders and cancer and increasing R&D activities are some of the pivotal factors which are expected to drive its demand in the region. Countries such as India, China, Japan in the APAC region, are projected to offer significant growth opportunities owing to presence of large patient pool in the region.

The gene therapy market is marked by presence of prominent players such Novartis AG, Amgen Inc., Gilead Sciences, Inc., Bayer AG, REGENXBIO Inc., uniQure N.V., Voyager Therapeutics, Spark Therapeutics, Inc., SIBIONO, and Orchard Therapeutics plc. Other players operating in the market are bluebird bio, Inc., Audentes Therapeutics, Ionis Pharmaceuticals, Sarepta Therapeutics, among others.

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