Key Leading Players and Recent Developments in the Gene Therapy Market

Gene Therapy Market by Vectors [Non-viral (Oligonucleotides), Viral (Retroviral (Gammaretroviral, Lentiviral)), Adeno-associated], Indication (Cancer, Neurological Diseases), Delivery Method (In Vivo, Ex Vivo), Region - Global Forecast to 2024

(EMAILWIRE.COM, June 30, 2021 ) The global gene therapy market is projected to reach USD 13.0 billion by 2024 from USD 3.8 billion in 2019, at a CAGR of 27.8% during the forecast period of 2019 to 2024. The growth of this market is majorly driven by the high prevalence of cancer and other target diseases, availability of reimbursements, and the increasing funding for gene therapy research. In addition, the launch of new products and the strong product pipeline of companies are expected to offer significant growth opportunities in this market. However, the high cost of gene therapy is expected to hamper market growth to a certain extent in the coming years.

The gene therapy market is consolidated in nature. In 2018, Biogen (US), Sarepta Therapeutics, Inc. (US), and Gilead Sciences, Inc. (US) were the leading players in this market. The other major players operating in this market include Novartis AG (Switzerland), Amgen, Inc. (US), Spark Therapeutics, Inc. (US), MolMed S.p.A. (Itlay), Orchard Therapeutics plc. (UK), Sibiono GeneTech Co. Ltd. (China), Alnylam Pharmaceuticals, Inc. (US), Human Stem Cells Institute (Russia), AnGes, Inc. (Japan), Dynavax Technologies (US), Jazz Pharmaceuticals, Inc. (Ireland), and Akcea Therapeutics (US).

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Biogen is the leading player in the global gene therapy market, with a share of ~65% in 2018. Strong business operations across all key regions, coupled with a strong brand image, have made Biogen a leading player in this market. Biogen has adopted inorganic and organic growth strategies such as agreements & collaborations and acquisitions to maintain its leading position in the gene therapy market. For instance, in 2017, Biogen entered into a collaboration with Ionis Pharmaceuticals to identify new antisense oligonucleotide drug candidates for the treatment of spinal muscular atrophy. In 2019, the company received the NMPA (National Medical Products Association) approval in China for SPINRAZA, which is used for treating 5q spinal muscular atrophy.

Sarepta was the second-largest player in the gene therapy market, with a share of ~11% in 2018. The company offers its gene therapy product-EXONDYS-to treat patients with Duchenne muscular dystrophy (DMD). Sarepta offers this product only in the US. However, with strong distribution channels and a good brand image, the company has generated significant revenue from the US. In order to maintain its leading position in the market, Sarepta focuses on the development of new and advanced products. In December 2019, the company received FDA approval for VYONDYS 53 (golodirsen), which is used for the treatment of DMD.

The demand for gene therapies for the treatment of cancer is expected to grow at a high rate

Based on indication, the gene therapy market is segmented into neurological diseases, cancer, hepatological diseases, Duchenne muscular dystrophy, and other indications. The neurological diseases segment accounted for the largest share of the market in 2018. However, the cancer segment is estimated to grow at the highest CAGR during the forecast period owing to the increasing incidence of cancer and the rising demand for CAR T-cell therapies.

North America is the largest regional market for gene therapy products

The global gene therapy market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. In 2018, North America accounted for the largest share of the market, followed by Europe. Moreover, the North American market is estimated to register the highest growth rate during the forecast period. Factors such as the rising prevalence of chronic diseases, high healthcare expenditure, presence of advanced healthcare infrastructure, favorable reimbursement scenario, and the presence of major market players in the region are driving market growth in North America.