The global Gene Therapy Market size was estimated at USD 1.9 billion in 2020 and is projected to register a CAGR 16.6% over the forecast period.
Gene therapy is the use of genetic modification to treat human disease. A sick patient harbors a bad version of a gene, gene therapy delivers a good version of that gene into cells within the sick patient. The majority of diseases treated with gene therapy are inherited genetic diseases. However, this can also use gene therapy to treat certain cancers and viral infections.
Key players in Gene therapy market are Novartis AG; Spark Therapeutics LLC; Bluebird Bio; Gilead Sciences Inc.; Celgene Corporation; Shire Plc. Voyager Therapeutics; Dimension Therapeutics; Chiesi Farmaceutici S.p.A; Celgene Corporation. Market players are teaming with biopharmaceutical companies, research institutes, and clinical research organizations (CROs) to form and scale up key healthcare technologies as well as novel services and products.
In 2020, Duchenne type muscular dystrophy (DMD) is the most common hereditary muscular disease among children, leaving them wheelchair-bound before the age of twelve and reducing life expectancy. Researchers at Technical University of Munich (TUM), Ludwig Maximilian University of Munich (LMU) and the German Research Center for Environmental Health (Helmholtz Zentrum Munchen) have developed a gene therapy that may provide permanent relief for those suffering from DMD.
April, 2020- Novel technology a researcher in viral neuroengineering in the Princeton Neuroscience Institute, and his team have developed new gene promoters which act like switches to turn on gene expression that promise to broaden the ability to deliver large genes and keep them active for long periods of time. Gene therapy is a promising strategy for many diseases, including disorders that involve the brain, such as Parkinson's disease and Alzheimer's disease. Further Roche has signed a collaborative agreement with Dyno Therapeutics for the development of adeno-associated virus (AAV) vectors for gene therapies for central nervous system (CNS) disease and liver-directed therapies.
Gene Therapy Market report is segmented on the basis of Therapy type, Vector Type, application, and regional& country level. Based upon Therapy type, market is classified as somatic and germline. Based upon Vector type, Market is classified into non-viral vectors and viral vectors. Based upon Application market is classified into Cancer Diseases, Monogenic Diseases, Infectious Diseases, Cardiovascular Diseases, Others. Region wise it segmented into North America, ASPAC, Europe and Row. At present, the US gene therapy market is reflecting opportunities of growth and profitability, procuring nearly 3/5 of total market stack. In response to rising cancer caseloads, governments in the region have been showing immediacy by increasing their spending in oncology research and development of novel drugs and therapeutics.
Further, the FDA has granted approval to certain drugs Yescarta, and Kymriah – for treating rare diseases. Now, in 2020, the FDA expects to see a doubling of new gene therapy applications every year. Scott Gottlieb, the former FDA commissioner, predicted that by the year 2025, the US will be approving between 10 and 20 different gene therapies every year.