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Global Gene Therapy Market Report 2022: Featuring Novartis, Pfizer, MeiraGTx, San Rocco Therapeutics & More | ||
By: PR Newswire Association LLC. - 26 Jan 2023 | Back to overview list |
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DUBLIN, Jan. 25, 2023 /PRNewswire/ -- The "Global Gene Therapy Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The global gene therapy market is expected to grow at a CAGR of 18.39% over the forecast period to reach US$11.769 billion by 2027 from US$3.611 billion in 2020. Unhealthy food consumption, lifestyle factors, and the rising prevalence of obesity, coupled with the rapid increase in the population and economic downturn have increased the prevalence of chronic and infectious diseases such as cancer, diabetes, HIV, and heart disease. For instance, according to the World Health Organization, in 2020, the number of deaths that occurred due to cancer globally stood at 10 million with which death count by breast cancer stood at 2.26 million followed by lung cancer at 2.21 million. Furthermore, according to US Government's HIV.gov data, in 2021, 1.2 million people in the United States were diagnosed with HIV. Moreover, according to the 2020 Health and Glance report by European Commission, in 2019, the total number of people diagnosed with diabetes stood at 32.3 million which showed significant growth of 92.2% from the cases reported in 2000. Owing to the rapidly growing prevalence of such major diseases, the demand for gene therapy products is also projected to increase, thereby boosting the global gene therapy market growth during the forecast period. Owing to its rich performance benefits, the non-viral vector has a higher preference over the viral vector, and with the increase in the number of major communicable and non-communicable diseases such as cancer, diabetes, and AIDS, the demand for non-viral vectors for gene therapy is also expected to increase, thereby improving its segment as well as the overall market growth during the forecast period. For instance, in June 2022, REGEXBIO announced the establishment of its new gene therapy manufacturing center in Rockville, Md where the company will boost the manufacturing of its adeno-associated virus vectors using the company's NAV technology. Furthermore, in December 2021, Pfizer opened its new state-of-the-art gene manufacturing facility in Durham, NC, where the company will boost the production of its multiple gene therapy medicine. Such manufacturing plant establishments will increase the demand and scope of usage of gene therapy in the future, thereby boosting the market growth of the global gene therapy market during the forecast period.
Market Segmentation:
By Vector Type
By Technique Type
By Disease Type
By Geography
Key Topics Covered:
For more information about this report visit https://www.researchandmarkets.com/r/jur88w-gene?w=5 About ResearchAndMarkets.com Media Contact: Research and Markets Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg View original content:https://www.prnewswire.com/news-releases/global-gene-therapy-market-report-2022-featuring-novartis-pfizer-meiragtx-san-rocco-therapeutics--more-301730896.html SOURCE Research and Markets |
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