Gene Therapy For Rare Disease: Gene Therapy Fueling Growth In Rare Disease Treatment
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| Gene Therapy For Rare Disease Market |
The global Gene Therapy for Rare Disease Market is estimated to be valued at US$ 193.56 Bn in 2023 and is expected to exhibit a CAGR of 11.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Gene therapy products aim to correct defective genes that cause rare diseases. These products help replace faulty or missing genes in order to cure rare genetic disorders. Rising research for effective treatment is fueling the growth of this market.
Market key trends:
One of the major trends in the gene therapy for rare disease market is the increasing focus on adeno-associated virus gene therapy. Adeno associated viruses are attracting interest as they can carry therapeutic genes into cells and produce long-term expression of missing or faulty proteins without integrating into the cell's chromosome or causing diseases. They can be administered systematically and target a wide range of tissues. Several clinical trials are ongoing using these viruses as vectors to treat rare diseases like hemophilia and retinal dystrophies. This will likely create greater opportunities in the market.
Segment Analysis
The global gene therapy for rare disease market has been segmented based on vector, application, disease type, and end user. The vector segment is further divided into viral vector and non-viral vector. The viral vector segment currently dominates the market due to its higher transduction efficiency and ability to deliver larger genes compared to non-viral vectors.
Key Takeaways
The Global Gene Therapy For Rare Disease Market Size is expected to witness high growth, exhibiting CAGR of 11.% over the forecast period, due to increasing investment in R&D by key players for developing novel and effective gene therapy.
Regional analysis:
North America accounts for the largest share in the global gene therapy for rare disease market. This can be attributed to growing awareness regarding rare diseases and availability of advanced healthcare facilities. However, Asia Pacific is expected to register the fastest growth over the forecast period owing to rising healthcare expenditures, increasing discretionary incomes, and growing clinical trials of gene therapies in countries such as China and India.
Key players:
Key players operating in the gene therapy for rare disease market are Amgen Inc., Biomarin Pharmaceuticals, and Bayer AG. Amgen Inc. dominates the market with its extensive product portfolio and robust geographic presence across North America and Europe. Biomarin Pharmaceuticals focuses on developing gene therapies for rare Inherited Metabolic Diseases.
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