The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s gene therapy market report forecasts the gene therapy market size to grow to $24.03 Billion by 2027, with a CAGR (compound annual growth rate) of more than 26%.

Learn More On The Gene Therapy Market Report 2023 – https://www.thebusinessresearchcompany.com/report/genes-therapy-global-market-report

Gene Therapy Market Size Forecast
The global gene therapy market is expected to grow from $7.37 billion in 2022 to $9.42 billion in 2023 at a compound annual growth rate (CAGR) of 27.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The gene therapy market is expected to grow from $24.03 billion in 2027 at a CAGR of 26.4%.

Key Gene Therapy Market Driver ­– Rise In Incidence Of Cancer And Other Target Diseases
For instance, in January 2022, according to the American Cancer Society, there will likely be 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the US, or roughly 1,670 fatalities every day. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43 percent of all new cancer cases. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43 percent of all new cancer cases. Therefore, the rise in the cancer incidence rate globally is anticipated to boost the demand for the gene therapy market over the forthcoming years. Gene therapy is one of the most effective treatments in oncology. In this treatment, new genes are introduced into a cancerous cell or the surrounding tissue to cause cell death or slow the growth of cancer.

Request for A Sample Of The Global Gene Therapy Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3395&type=smp

Key Gene Therapy Market Trend – Adoption Of Machine Learning And Artificial Intelligence
Artificial intelligence (AI) is the simulation of human intelligence in machines, which are programmed to display their natural intelligence. Machine learning is a part of AI. Machine learning and AI help companies in the gene therapy market conduct a detailed analysis of all relevant data, provide insights between tumour and immune cell interactions, and offer a more accurate evaluation of tissue samples, which is often disputed between different evaluators. For instance, since January 2020, GlaxoSmithKline, a pharmaceutical company, has been investing in AI to optimise gene therapy and develop off-the-shelf solutions for patients. It is also expected to reduce turnaround time and the cost of gene therapies.

Gene Therapy Market Segment
1) By Gene Type: Antigen, Cytokine, Suicide Gene, and Other Gene Types
2) By Vector: Viral Vector, Non-Viral Vector, Other Vectors
3) By Application: Oncological Disorders, Rare Diseases, Cardiovascular Diseases, Neurological Disorders, Infectious Diseases, Other Applications
4) By End Users: Hospitals, Homecare, Specialty Clinics, Other End-Users

Gene Therapy Market Major Players and Strategies
Major players in the gene therapy market are Novartis AG, Bluebird Bio Inc., Spark Therapeutics Inc., Audentes Therapeutics, Voyager Therapeutics, Applied Genetic Technologies Corporation, UniQure N.V., Celgene Corporation, Cellectis S.A., and Sangamo Therapeutics.

In December 2021, Novartis AG, a Switzerland-based pharmaceutical company specialising in the discovery, development, manufacturing, and commercialization of medicines, acquired Gyroscope Therapeutics Holdings plc for an amount of $800 million. Through this acquisition, GT005, an experimental, one-time gene therapy now in Phase 2 for the treatment of persons with geographic atrophy (GA), will be added to the Novartis portfolio, increasing gene therapy research capabilities and bringing ophthalmic innovation to treat and prevent blindness globally. Gyroscope Therapeutics Holdings plc is a UK-based clinical stage biopharmaceutical company pioneering in the research and development of gene therapies for the treatment of eye related diseases.

The Gene Therapy Global Market Report 2023 covers regional data on gene therapy market size, gene therapy market trends and drivers, opportunities, strategies, and gene therapy market competitor analysis. The countries covered in the gene therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Gene therapy refers to a method for treating or curing sickness that alters a person’s DNA. Gene treatments can function in a variety of ways: putting a healthy copy of the gene in place of a disease-causing gene, and putting a defective gene that causes an illness inactive.

View More Reports Related To The Gene Therapy Market –
Nucleic Acid Based Gene Therapy Global Market Report 2023
Convalescent Plasma Therapy Global Market Report 2023
Drugs For Hormonal Replacement Therapy Drugs Global Market Report 2023

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

 Found this article helpful? Share it on: