The increasing prevalence of cancer cases and the ethical acceptance of gene therapy for cancer treatment are driving the need for the introduction of gene therapies. For example, according to the World Cancer Research Fund, cancer cases around the world were estimated at 18.1 million in 2020, of which 9.3 million cases were in males and 8.8 million in females. These key factors are driving the growth of the global gene therapy market which is estimated to reach around US$6 billion in revenue by 2031 by growing at a CAGR of almost 34% during the forecast period i.e. 2022 – 2031.

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The global market is segmented by indications into cancer, metabolic disorders, eye diseases, cardiovascular diseases, and others. Among these segments, the cancer segment is expected to hold the largest market share driven by the increasing prevalence of multiple cancers. For example, according to the World Cancer Research Fund, the most common cancers worldwide are breast and lung cancer, accounting for 12.5% ​​and 12.2%, respectively, of the total number of new cases diagnosed in 2020.

Geographically, the global gene therapy market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among these regions, it is estimated that the North America region market holds the largest market share and will witness significant growth during the forecast period. The factors driving the market growth in the region is fast growing cancer cases. For example, according to the Cancer Facts & Figures report, the estimated number of new cancer cases diagnosed in the United States as of 2021 was 1.9 million. Additionally, Asia-Pacific is expected to register the highest CAGR during the forecast period.

The research is global in nature and includes detailed analyzes of the market in North America (USA, Canada), Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands and Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia- Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). Furthermore, Analysis of Market Size, YOY Growth and Opportunity Analysis, Competitive Study of Market Players, Investment Opportunities,

Increasing awareness of the benefits of gene therapy compared to traditional therapy to treat various diseases to spur market growth

The increasing awareness of the benefits of gene therapy compared to traditional therapy to treat various diseases is increasing the demand for gene therapy. This is a key factor that is expected to drive the growth of the market over the forecast period. Moreover, government support to boost gene therapy research and increase in funding for R&D activities are expected to further boost the market growth in the coming years.
However, high operational costs associated with gene therapy and adverse immune responses are expected to act as the main brakes on the growth of the global gene therapy market during the forecast period.

This report also includes the existing competitive scenario of some of the major players in the global Gene Therapy Market including company profiling of Kineta, Inc., Novartis AG, Amgen Inc., bluebird bio, Inc., Gilead Sciences, Inc., Orchard Therapeutics plc, SIBIONO, Questex, CRISPR Therapeutics, Editas Medicine and others.

Profiling includes key company information, which includes a business overview, products and services, key financial data, and breaking news and developments. Overall, the report provides a detailed overview of the global Gene Therapy Market that will help industry consultants, device manufacturers, existing players looking for expansion opportunities, new players looking for opportunities, and other stakeholders to align their market-centric strategies with the ongoing and anticipated trends in the to align the future.

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