The “Gene Therapy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global therapy market reached a value of US$ 3.77 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 9.5 Billion by 2027 exhibiting a CAGR of 15.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Gene therapy is a technique for preventing disease progression by modifying the expression of mutated or altering the biological properties of living cells for therapeutic use. It improves the ability of the body to fight against a wide range of diseases, such as cancer, diabetes, hemophilia, cystic fibrosis, heart disease, and acquired immunodeficiency syndrome (AIDS). Nowadays, a wide variety of gene therapy products are available worldwide, which include viral vectors, bacterial vectors, plasmid deoxyribonucleic acid (DNA), human gene-editing technology, and patient-derived cellular therapy.
Gene Therapy Market Trends:
The growing prevalence of inherited diseases and acquired disorders, in confluence with easy access to healthcare facilities, represents one of the key factors catalyzing the demand for gene therapy to improve the quality of life of patients. Moreover, the rising cases of genetic disorders, such as muscular dystrophy and cystic fibrosis, in children and young adults are bolstering the market growth. In line with this, the increasing geriatric population, which is more susceptible to develop infectious diseases on account of inappropriate activity, is contributing to the market growth.
Apart from this, the development of new therapy that offers a safer, non-addictive alternative to opioids in treating a broad range of chronic pain conditions, such as lower back pain and rare neuropathic pain disorders, is favoring the market growth. In addition, a large variety of therapeutic are under investigation, including tumor suppressor, anti-angiogenesis, inflammatory cytokine, and micro ribonucleic acid (RNA) genes. These can assist in treating cancer, leukemia, severe combined immune deficiency, and blindness caused by retinitis pigmentosa, which is anticipated to stimulate the growth of the market.
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