Gene Therapy Market Overview: Forecast Market Size, Major Driver, Key Trends And Largest Region - By The Business Research Company

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

LONDON, April 10, 2023 /PRNewswire/ -- As per The Business Research Company's Gene Therapy Global Market Report 2023, the global gene therapy market size will grow from $7.3 billion in 2022 to $9.4 billion in 2023 at a compound annual growth rate (CAGR) of more than 27%. The gene therapy market share is then expected to grow from $24 billion in 2027 at a CAGR of more than 26%.

Increasing number of cancer cases is expected to drive the growth of the gene therapy market during the forecast period. Cancer gene therapy is an emerging field using genetic material to modify cells in vitro or in vivo to help effect a cure. In gene therapy, a therapeutic human-designed new gene (transgene) is used to introduce to a subpopulation of human cells, such as human stem cells. For a cancer cell, the transgene can assist cell death or restore normal cellular functions, whereas for normal cells the transgene can protect them from drug-induced side effects and/or cytotoxicity.  For example, according to the American Cancer Society, a US-based voluntary health organization, a total of 1.9 million new cancer cases and 609,360 deaths from cancer were expected to occur in the USA in 2022, which is about 1,670 deaths a day.  Therefore, the increase in the number of cases of cancer is expected to contribute to the gene therapy market growth going forward.

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

Mergers and acquisitions are a key trend in the gene therapy market, that has been ongoing for many years and is expected to continue in the future. This trend is a common way for companies to grow and diversify their operations, it can also be a way for companies to cut costs, reduce competition and boost their competitiveness in the market.

For instance, in June 2020, Innovent Biologics, Inc., a China-based biotechnology and biopharmaceutical company, announced a strategic collaboration with F. Hoffmann-La Roche AG (Roche), a Switzerland-based pharmaceutical and healthcare company, for the research and development of cellular therapies and bispecific antibodies with an investment of $2 billion. This collaboration will help in the treatment of cancer, metabolic, autoimmune and other major diseases through gene therapy and bispecific antibodies.

Other gene therapy market trend-based strategies for players include growing investments and manufacturing facility expansion, use of tetracycline-enabled self-silencing adenovirus (TESSA) technology, launch of cell and gene therapy platforms, and rising focus on gene editing.

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

As per the gene therapy market forecast, North America was the largest region in the gene therapy market, accounting for 44.6% of the global market in 2022. It was followed by Western Europe, Asia Pacific and the other regions. Going forward, the fastest growing regions in the gene therapy market will be South America and the Middle East.

View More Similar Market Reports:

Nucleic Acid Based Gene Therapy Global Market Report 2023

https://www.thebusinessresearchcompany.com/report/nucleic-acid-based-gene-therapy-global-market-report

Cancer Biologics Global Market Report 2023

https://www.thebusinessresearchcompany.com/report/cancer-biologics-global-market-report

Cell And Gene Therapy Global Market Report 2023

https://www.thebusinessresearchcompany.com/report/cell-and-genes-therapy-global-market-report

Interested to know more about The Business Research Company?

The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

The World's Most Comprehensive Database

The Global Market Model, The Business Research Company's flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users make better strategic decisions.

Contact Information:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Logo: https://mma.prnewswire.com/media/1751581/tbrc_logo.jpg