Gene Therapy Market Is Poised To Reach $5.55 Billion By 2026

The global gene therapy market size is expected to reach USD 5.55 billion by 2026, growing at a CAGR of 33.9% over the forecast period, according to a new report by Grand View Research, Inc. Gene therapy is being developed with an aim to identify and cure rare conditions, diseases that have limited treatment options and that need lifelong medication to keep the symptoms in check. For instance, metabolic disorders like lysosomal diseases need constant medical attention with the medication available now, however, gene therapy might become a one-time cure to such diseases.

There are a number of molecules under development due to intense competition. This factor is projected to be the key factor propelling the market growth. In early 2018, there were more than 950 molecules in the pipeline with various regulatory bodies in various clinical phases. However, around 76% of the molecules are in the developmental or preclinical stages and are expected to be available by the late 2020s. Larger pharma/biotech companies are entering into the market by either acquiring the licensing/manufacturing rights from smaller companies that are solely dedicated to gene therapy research or by building a dedicated research portfolio with investments and clinical trials.

These factors are also expected to boost the market growth over the next two decades. Most of the manufacturers are also developing molecules that can help cure various cancers. Growing prevalence of different types of cancer emphasizes the need for the development of robust treatment options. Ongoing developments in cancer gene studies have provided significant information about cancer-related molecular signatures, which in turn, is expected to support the ongoing clinical trials for cancer therapeutics.

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https://www.grandviewresearch.com/industry-analysis/gene-therapy-market

Further key findings from the study suggest:

• 7 gene therapy molecules have been approved by various regulatory bodies. In 2018, the FDA approved 3 molecules
• Lentivirus is being used as viral vector of choice for 2 of the 3 molecules approved by the FDA
• S. and Europe are expected to occupy the largest market shares over the forecast period owing to gene therapy molecules being marketed in these regions
• Europe is set to grow at a fast pace due to the growing pipeline molecules and a number of companies competing in the regional market
• Key companies in the market are Novartis AG, Gilead Sciences, Inc.; UniQure N.V.; Spark Therapeutics LLC; Bluebird Bio; Juno Therapeutics; GlaxoSmithKline PLC; Celgene Corporation; Shire PLC; Sangamo Biosciences, Inc.; Dimension Therapeutics, Inc.; Voyager Therapeutics, Inc.; Human Stem Cell Institute; Chiesi Farmaceutici S.p.A.; and Bristol-Myers Squibb Company

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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