Gene Therapy Market

The global gene therapy market is projected to reach USD 8.85 billion in 2024 will increase to USD 36.55 billion by 2032, with a compound annual growth rate (CAGR) of 19.4% from 2024 to 2032. The growth of gene therapy market ascribed to major factors such as growing demand for curative therapies for genetic disorders, rare diseases, and specific types of cancer, and increasing investments in gene therapy research. On the other hand, the high cost of gene therapy products is projected to impede market growth.

Biogen Inc. (US), Novartis AG (Switzerland), and Alnylam Pharmaceuticals, Inc. (US) are holding significant global market share and the global Gene Therapy market is highly cosolidated.

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Biogen Inc. (US)

In 2023, Biogen had the largest share in gene therapy market. Biogen is a biotechnology company specializing in developing therapies for diseases like multiple sclerosis, spinal muscular atrophy, and Alzheimer’s disease. Stronge pipeline aims to develop novel therapeutics with potential across multiple therapeutic areas, including neurology, neuropsychiatry, specialty immunology and rare diseases. High investments on R&D for novel therapies like gene therapies soar their credibility in global market. Biogen spent USD 2.46 billion on R&D in 2023. Additionally, by having a strong distribution channel and solid pipeline products enables Biogen to gain competitive share in the global gene therapy market.

Novartis AG (Switzerland)

Novartis is one of the leading players in gene therapy market. The company’s products such as Zolgensma (onasemnogene abeparvovec-xioi) are major contributors to the gene therapy market. The company also has a strong geographic presence with distribution channels across North America, Europe, Asia Pacific, Latin America, and Africa. The company is focusing on inorganic growth strategies such as acquisition and collaboration for the development of innovative gene therapy products which supports its leading position in the gene therapy market. For instance, in November 2024, Novartis acquired Kate Therapeutics, gaining access to the latter’s proprietary DELIVER capsid engineering platform, which is expected to help with potent and selective gene therapy development.

Alnylam Pharmaceuticals, Inc. (US)

Alnylam is one of the leading players in the gene therapy market. The company has a broad pipeline, including four approved products and multiple late and early-stage investigational RNAi therapeutics. The company focused on four major therapeutic areas such as Genetic Medicines, Cardio-Metabolic Diseases, Hepatic Infectious Diseases, and CNS/Ocular Diseases. The company is focusing on collaboration and acquisition to develop the innovative therapies. For instance, in July 2023, Alnylam Pharmaceuticals signed an agreement with Roche to develop and commercialize zilebesiran, Alnylam’s investigational RNAi therapeutic for treating hypertension, which is currently in Phase 2 of development.

Related Reports:

Gene Therapy Market by Type (Gene silencing), Vector (Viral (Retroviral, AAV), Non-viral (Oligonucleotide)), Gene Type (Receptors, Cytokine), Therapeutic Area (Oncology, Neurology), Delivery Method (In-Vivo, Ex-Vivo), RoA (IV) - Global Forecast to 2032

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