Gene Therapy Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s Gene Therapy Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, February 16, 2022 /EINPresswire.com/ -- The use of machine learning and artificial intelligence is gradually gaining popularity in the global gene therapy market. Artificial intelligence (AI) is the simulation of human intelligence in machines, which are programmed to display their natural intelligence. Machine learning is a part of AI. Machine learning and AI help companies in the gene therapy market to conduct a detailed analysis of all relevant data, provide insights between tumor and immune cell interactions, and offer a more accurate evaluation of tissue samples often conflicted between different evaluators. For instance, since January 2020, GlaxoSmithKline, a pharmaceutical company, has been investing in AI to optimize gene therapy and develop off-the-shelf solutions for patients. It is also expected to reduce turnaround time and also the cost of gene therapies.

Incidences of cancer and other target diseases have been increasing significantly, which is calling for effective treatments, driving the growth of the gene therapy market. The rise in the number of cancer cases across the globe is likely to contribute to the growth of the gene therapy market during the forecast period. According to the American Cancer Society, there were 1.7 million new cases and 0.6 million cancer deaths in 2019 in the USA. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of all the new cancer cases. Therefore, the rise in the cancer incidence rate globally is anticipated to boost the demand for the gene therapy market over the forthcoming years. Gene therapy is one of the most effective treatments in oncology. In this treatment, new genes are introduced into a cancerous cell or the surrounding tissue to cause cell death or slow the growth of cancer.

Read more on the Global Gene Therapy Market Report

The global gene therapy market size is expected to grow from $5.77 billion in 2021 to $7.37 billion in 2022 at a compound annual growth rate (CAGR) of 27.8%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global gene therapy market share is expected to reach $21.25 billion in 2026 at a CAGR of 30.3%.

Major players covered in the global gene therapy industry are Novartis AG, Bluebird Bio Inc., Spark Therapeutics Inc., Audentes Therapeutics, Voyager Therapeutics, Applied Genetic Technologies Corporation, UniQure N.V., Celgene Corporation, Cellectis S.A. and Sangamo Therapeutics.

TBRC’s global gene therapy market analysis report is segmented by gene type into antigen, cytokine, suicide gene, others, by vector into viral vector, non-viral vector, others, by application into oncological disorders, rare diseases, cardiovascular diseases, neurological disorders, infectious diseases, others, by end user into hospitals, homecare, specialty clinics, others.

Gene Therapy Global Market Report 2022 – By Gene Type (Antigen, Cytokine, Suicide Gene), By Vector (Viral Vector, Non-Viral Vector), By Application (Oncological Disorders, Rare Diseases, Cardiovascular Diseases, Neurological Disorders, Infectious Diseases), By End Users (Hospitals, Homecare, Specialty Clinics) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a gene therapy market overview, forecast gene therapy market size and growth for the whole market, gene therapy market segments, geographies, gene therapy market trends, gene therapy market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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