The global gene therapy market size is expected to reach USD 39.54 million by 2026. Rising competition among manufacturers and high number of molecules in pipeline are supporting the growth of the market.
Gene therapy development is aimed to cure rare diseases and even some hereditary diseases, which are caused by a mutated or faulty gene. Moreover, ever-increasing need for new cures for orphan diseases and rising incidence of cancer caused due to mutations in genes are likely to stir up the demand for gene therapy.
As of early 2016, there were more than 1000 molecules in the pipeline in various clinical phases.
However, around 76.0% of the molecules are in the developmental or preclinical stages and expected to hit the market in late 2020’s.
A great number of large pharma/biotech players are estimated to acquire small firms as many have been trying to develop in-house expertise and build their own pipelines. This trend is anticipated to help the market gain tremendous traction over the coming years. Combination of gene therapy with small molecules or protein therapy is said to have lesser side effects and better efficacy as compared to gene therapy alone.
Cancer held the dominant share in the market in 2017 owing to relatively high adoption of gene therapies for cancer treatment. Continual rise in new cancer cases and related mortality per year triggers the need for development of robust treatment options.
Ongoing developments in cancer gene studies have provided significant information about cancer-related molecular signatures, which in turn, is projected to support ongoing clinical trials for cancer therapeutics.
Key Findings From the Report Suggest:
- More than 60.0% of the market is occupied by cancer research owing to a large pipeline.
- Adenoviral vectors are the most used in pipeline development, closely followed by retroviral vectors.
- Europe and the U.S. are poised to occupy the largest cumulative share in the market throughout the forecast period.
- Asia Pacific is set to post noteworthy CAGR during the forecast period, owing to growing pipeline molecules and a large number of companies competing in the market.
- Some of the key players in this market are UniQure N.V, Spark Therapeutics LLC, Bluebird Bio, Juno Therapeutics, GlaxoSmithKline, Celgene Corporation, Shire Plc, Sangamo Biosciences, Dimension Therapeutics, Voyager Therapeutics, Human Stem Cell Institute, Bristol Myer’s Squibb, and Chiesi Farmaceutici S.p.A.