Gene Therapy Market Trends, Supply Demand Scenario and Growth Prospects Survey Till 2030

Gene Therapy Market

The most cutting-edge treatment for blood disorders, chronic illnesses, infectious diseases, and cancer is gene therapy. To treat or stop the spread of disease, gene therapy entails replacing some or all of a patient's body's damaged genes with healthy ones. Based on where the target gene is located on a chromosome, there are two different types of gene therapy: somatic gene therapy and germline gene therapy.

Due to a decrease in the number of cancer patients visiting hospitals and clinics for gene therapy (ICI), which resulted in a decrease in demand for gene therapy products, COVID-19's overall impact on the Gene Therapy Market remained unfavorable. For instance, the NCBI estimates that the number of cancer patients in the United States would drop by around 50% in 2020 and that the number of cancer therapies will drop by 50% during COVID-19, which will result in a drop in the market's demand for gene therapy goods.

Globally rising rates of cancer, uncommon diseases, genetic disorders, and other chronic diseases are the main factors fueling the growth of the Gene Therapy Market. The market is expanding as a result of rising government backing, ethical acceptance of gene therapy as a cancer treatment, and an increase in the occurrence of cancer. Additionally, there is a market opportunity for gene therapy due to rising healthcare costs, the presence of cutting-edge healthcare infrastructure, and the availability of reimbursements. The high cost of gene treatments, however, is anticipated to somewhat restrain market expansion throughout the forecast period.

The vector type, gene type, application, and area are the main segments of the Gene Therapy Market. Viral and non-viral vectors are divided based on the type of vector. Retroviruses, lentiviruses, adenoviruses, adeno-associated viruses, herpes simplex viruses, poxviruses, vaccinia viruses, and other viruses are subdivided into the viral vector segment. Further divisions of non-viral vectors include naked/plasmid vectors, gene guns, electroporation, lipofection, and others. The market is divided into ex vivo therapy and in vivo therapy according to the type of therapy. The market is divided into antigen, cytokine, tumor suppressor, suicide, deficiency, growth factors, receptors, and others based on the type of gene it contains.