Gene Therapy Market Growing Fast with a 14.1% CAGR Through 2034

Rising R&D and demand for advanced treatments drive growth in the gene therapy market, fueled by genome editing, genetic testing, and ex-vivo therapies.

ROCKVILLE , MD, UNITED STATES, February 11, 2025 /EINPresswire.com/ -- The estimated size of the worldwide gene therapy market in 2024 is $10.34 billion USD. The need for cell and gene therapies is growing as a result of an increase in rare disease cases. The market is expected to reach US$ 38.52 billion by the end of 2034, growing at a 14.1% CAGR.

The market for gene therapy is anticipated to rise through 2034 due to the growing popularity of ex-vivo gene therapy for neurological conditions. The focus on healthcare has grown significantly over the past few years, leading to a huge increase in research and development activity.

The need for advanced gene therapies is anticipated to increase over the next ten years due to the growing use of genome editing in biotechnology applications and gene modification in a number of treatments. Due to increased public awareness and knowledge, genetic testing is becoming increasingly important in preventative healthcare. The usage of genetic testing technology is increasing as chronic illnesses become more common. Additionally, the increasing demand for DNA testing is creating lucrative prospects for companies that offer genealogical products and services.

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Gene delivery technologies have the potential to significantly enhance the therapeutic process and provide positive outcomes. It is anticipated that cell and gene treatments will play a key role in the treatment of cardiovascular, cancer, and diabetes. Additionally, a growing number of parents are choosing to use genetic testing services as the prevalence of hyperthyroidism and other chronic illnesses in infants rises.

What market trends are driving the demand for gene therapy?

The sales of gene testing technologies are anticipated to be significantly impacted by ongoing research and development (R&D) activities. With a focus on developing a transformative portfolio through internal faculty and bolstering those capabilities by strategic partnerships, R&D expansion, possible licensing, and merger and acquisition operations, a number of businesses are seeking to develop a gene therapy platform.

In January 2022, the Cystic Fibrosis Foundation announced that it would invest in SalioGen Therapeutics to fund the company's preclinical studies of new gene therapies for the disease. Any gene in the genome can have its function changed, activated, or deactivated using SalioGen's Gene Coding technique.

Previously, bone marrow transplantation was the exclusive and restricted therapy option for sickle cell disease. Sickle cell disease is seen as a chronic illness that results in blood vessel blockages. If left untreated, this fatal illness can cause strokes and damage to organs.

Casgevy is a form of new genome editing technology, whereas Lyfgenia is a cell-based gene therapy. Therefore, the launch of these technologies represents a novel development in the field of gene therapy.

Competitive Landscape

Among the leading companies in the gene therapy industry are Novartis AG, Orchard Therapeutics, Sibiono GeneTech Co. Ltd., Spark Therapeutics (Roche AG), Gilead Sciences, Inc., Amgen Inc., and Bluebird Bio. These industry giants use a variety of strategic alliances, including partnerships, acquisitions, and the introduction of cutting-edge products, to establish a significant presence in the global market.

The United States Food and Drug Administration, ten pharmaceutical companies, five non-profit groups, and the National Institutes of Health stated in October 2021 that they would work together to expedite the development of gene therapies for the 30 million Americans who suffer from rare diseases. In the upcoming ten years, such activities are anticipated to increase demand for gene treatments.

Growth Drivers for the Gene Therapy Market

Advancements in Gene Editing Technologies: Innovations like CRISPR-Cas9, TALENs, and ZFNs have revolutionized gene therapy, allowing precise genetic modifications and expanding treatment possibilities for genetic disorders, cancer, and rare diseases.

Rising Prevalence of Genetic Disorders and Chronic Diseases: The need for efficient gene therapy solutions is being driven by the rising prevalence of rare diseases, genetic problems, and chronic illnesses like cancer and neurological disorders.

Growing Investments in Biotech and Pharma: Increased funding from governments, private investors, and pharmaceutical companies is accelerating research and development in gene therapy, leading to the discovery of novel treatments.

Regulatory Approvals and Streamlined Pathways: Gene therapies are receiving quicker regulatory clearances and incentives from organizations like the FDA and EMA, which makes it simpler for biotech companies to launch treatments.

Expansion of Clinical Trials: A surge in gene therapy clinical trials worldwide is fueling advancements in treatment options and increasing patient access to experimental therapies.

Personalized Medicine Revolution: Gene therapy improves treatment success by providing individualized treatment approaches based on a patient's genetic profile, which is in line with the expanding trend of personalized medicine.

Technological Breakthroughs in Viral and Non-Viral Vectors: Improved Lentivirus, AAV, and non-viral vector delivery methods are enhancing the safety, efficiency, and scalability of gene therapy applications.

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