Gene Therapy Market Size is estimated to be valued at USD 2,001.4 million in 2021 and is poised to grow at a CAGR of 23.4% over 2022-2028. Gene theray is the advanced treatment for cancer, chronic disease, infectious disease, and blood diseases. On the bases of vector type, the Adeno-associated Virus Vector segment is anticipated to hold the major market value in the forecasting market owing to the adeno-associated virus (AAV) is a non-enveloped virus that may be modified to transfer DNA to target cells. It has attracted a lot of interest recently, especially in clinical-stage experimental therapy techniques. One of the safest gene therapy technologies so far has been the capacity to manufacture recombinant AAV particles devoid of viral genes and having DNA sequences of interest for diverse therapeutic purposes. Adeno-associated Virus vectors be used more frequently than other traditional methodologies due to their ease of use. Considering these benefits, the adeno-associated virus segment is anticipated to grow in the forecasting period. Globally, grow in the prevalence of chronic diseases such as cancer, rare genetic disorders, and others are driving the gene therapy market growth. Moreover, increased government funding, ethical acceptability of gene therapy for cancer treatment, and favorable reimbursement policies contribute to the global gene therapy market growth in the future.
Recent Market Developments:
In September 2020, Takeda published the results of a Phase II study of TAK-620 (maribavir) for cytomegalovirus (CMV). The drug is designed to target a specific CMV protein, which may lead to inhibition of CMV DNA replication and encapsulation.
In 2020, Etranacogene dezaparvovec is UniQure’s lead gene therapy candidate and includes an AAV serotype 5 (together “AAV-5”) vector incorporating the functional human Factor IX (“FIX”) Padua variant, conducting a pivotal study in patients with severe and moderately severe hemophilia B