Gene Therapy Market Size, Share, Growth Analysis, By Type(Gene silencing, cell replacement, gene augmentation, other therapies), By Vector(Viral vectors, and non-viral vectors), By Therapeutic Area(Neurology, Oncology, Hepatology, and Other Therapeutic areas), By Route Of Administration(intravenous, and other routes of administration), By Delivery Mode(IN VIVO, and EX VIVO), By Region - Industry Forecast 2024-2031

Gene Therapy Market Drivers

CRISPR-Cas9 Propelling Market Growth: 

• The burgeoning global gene therapy industry is propelled by rapid advancements in gene editing technologies such as CRISPR-Cas9. By improving the accuracy, efficacy and safety of genetic manipulation, these state-of-the-art technologies have expedited clinical development steps and increased the number of options available for patients. In addition, vector-based approaches alongside better delivery systems are aiding this growth. 

Rising Prevalence of Genetic Disorders: 

• Infectious diseases which are rare and genetic deformities are one key factor fueling the global gene therapy market. As levels of awareness and diagnostic abilities go up, the demand for new medication increases. The industry’s prosperity and research investment is spurred by the hope of gene therapy to cure once incurable conditions. 

Restraints 

Ethical and Safety Concerns: 

• The expansion of the global gene therapy industry may be hampered by several issues such as long-term hazards, off-target consequences and other ethical and safety concerns. New therapies may not gain traction among the public or regulators and could hinder investment as well as market growth due to fears about genetic engineering. 

Limited Reimbursement Policies: 

• There are considerable payment systems as well as their limitations and unevenness which hinder gene therapies. To patients, the cost and accessibility of many gene therapies are expensive with no complete coverage from either health systems or insurance companies. This uncertainty in reimbursement can dissuade investments and inhibit market uptake.