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

Global Gene Therapy Market size was valued at USD 7.41 billion in 2022 and is poised to grow from USD 9.0 billion in 2023 to USD 42.46 billion by 2031, at a CAGR of 21.4% during the forecast period (2024-2031).

The global gene therapy market is being facilitated by rising healthcare costs, the existence of cutting-edge healthcare facilities, and the availability of reimbursements. Nonetheless, during the projected future, it is anticipated that the high cost of gene therapies will partially restrain market expansion. One particular subset of these comes in the form of genes. Gene therapy serves as an advanced way to treat diseases like blood disorders, cancer, infections and chronic illnesses. For instance, through gene therapy, patients can have their malfunctioning genes replaced entirely or in part with normal ones to cure them from or halt the transmission of a disease. 

There are two different kinds of gene therapy: 

Somatic gene therapy and germline gene therapy. Somatic gene therapy is for treating diseases that can be achieved by adding genes to specific cells in the body, such as AIDS, cancer, Parkinson’s disease or cystic fibrosis; while germline gene therapy targets the DNA on chromosomes found in reproductive cells. Biological vectors like viruses, liposomes, and plasmids are used to introduce the transgene into the host cell. These vectors are further divided into non-viral and viral categories. The components of the viral vector are the lentivirus, adenovirus, retrovirus, and adeno-associated vector. Liposomes, transposons, and plasmids are components of the non-viral vector.

US Gene Therapy Market is poised to grow at a sustainable CAGR for the next forecast year.