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Gene Therapy Market to Reach USD 2.1 Billion at 6% CAGR by 2032

Oct 3, 2023 10:00 PM ET

Gene Therapy Market to Reach USD 2.1 Billion at 6% CAGR by 2032


Gene Therapy Market Research Report Information By Product Type (Kymriah, Luxturna, Yescarta, Zolgensma, Zynteglo), By Indication (Oncology And Genetic Diseases), By End Users(Hospitals & Clinics, Specialty Treatment Centers), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2032

The Gene Therapy Market Size was valued at USD 0.95 billion in 2022 and is projected to grow from USD 1.13 billion in 2023 to USD 2.1 billion by 2032, exhibiting a CAGR of 6% during the forecast period (2023 – 2032).

Gene therapy is a revolutionary field in biotechnology that holds immense promise for treating a wide range of genetic and acquired diseases. It involves the introduction, deletion, or correction of genes within an individual’s cells to treat or prevent disease. The gene therapy market has witnessed significant growth and innovation in recent years, driven by advancements in genetic engineering technologies, increasing understanding of the human genome, and a growing demand for effective and personalized healthcare solutions.

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Market Segmentation

The gene therapy market segmentation, based on product type, includes kymriah, luxturna, yescarta, zolgensma, strimvelis, zynteglo and others.

The gene therapy market segmentation, based on indication, consists of oncology and genetic diseases.

By End Users, the market is segmented into Hospitals & Clinics, and Specialty Treatment Centers.

Competitive Analysis

The major market players are Amgen Inc. (US) Spark Therapeutics Inc. (US) Bristol-Myers Squibb Company (US) Novartis AG (Switzerland) Gilead Sciences Inc. (UUS Celgene Corporation (US) Thermo Fisher Scientific Inc. (US) CEVEC (Germany) uniQure N.V. (Netherlands) Orchard Therapeutics plc (UK).

Regional Analysis

In 2022, the North American gene therapy market was worth USD 1.13 billion, and it is projected to rise at a healthy CAGR over the course of the forecast period. There are several major market participants, a highly developed healthcare system, extensive reimbursement options, and a growing number of people living with and suffering from chronic illnesses. As a result, the market in North America is expected to grow over the projection period.

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Europe’s second-largest market share in gene therapy can be attributed to the continent’s advanced healthcare infrastructure and government support for business expansion. More importantly, Germany was the largest market for gene therapy, while the UK was the fastest-growing market in Europe.

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From 2022 to 2030, the Asia-Pacific region is projected to have the highest compound annual growth rate (CAGR) in the gene therapy market. The existence of major firms, growth in government support, and ease of access to necessary materials all contribute to this. In addition, China’s gene therapy market was the largest overall and India’s was the fastest expanding in the Asia-Pacific.

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