Nucleic Acid-Based Gene Therapy Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

The Business Research Company’s Nucleic Acid-Based Gene Therapy Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

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The nucleic acid-based gene therapy market has witnessed robust growth, surging from $0.75 billion in 2023 to an estimated $0.82 billion in 2024, reflecting a substantial compound annual growth rate (CAGR) of 9.6%. Projections indicate continued rapid expansion, reaching $1.2 billion by 2028, propelled by a noteworthy CAGR of 10.1%. This surge is underpinned by a confluence of factors, including government backing and increased industry investments.

Government and Industry Collaboration Fueling Demand

A key catalyst in the escalating demand for nucleic acid-based gene therapy is the substantial financial backing from both government bodies and industry players. These therapies, addressing diseases like cystic fibrosis, hemophilia, sickle cell anemia, thalassemia, and diabetes, hold promise for permanent cures by targeting the genetic basis of ailments. Notably, the National Institute of Health (NIH) announced a $34 million annual investment over five years for HIV treatment research in August 2022. Such government support and industry commitment are expected to significantly contribute to the growing demand for nucleic acid-based gene therapy.

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Healthcare Expenditure Drives Market Expansion

The ascending trajectory of healthcare expenditure is a pivotal driver expected to fuel the nucleic acid gene therapy market. Increased spending on healthcare services plays a crucial role in supporting the development and accessibility of nucleic acid gene therapy. Notably, the Canadian Institute for Health Information reported a rise in healthcare expenditure to $331 billion in 2022, up by 0.8%, following a 7.6% increase in 2021. This surge in healthcare spending is anticipated to drive further growth in the nucleic acid gene therapy market.

Key Players in the Nucleic Acid-Based Gene Therapy Market

Prominent companies spearheading advancements in the nucleic acid-based gene therapy market include Celsion Corporation, Wave Life Sciences, Imugene Ltd., Caperna LLC, Phylogica Limited, Protagonist Therapeutics Inc., Benitec Biopharma Ltd., EGEN, BioMedica, Transgene SA, Copernicus Therapeutics Inc., 4D Molecular Therapeutics Inc., Abeona Therapeutics Inc., Alnylam Pharmaceuticals Inc., Amgen Inc., Beam Therapeutics Inc., BioNTech SE, Bluebird Bio Inc., CRISPR Therapeutics AG, Editas Medicine Inc., Genevant Sciences Inc., Homology Medicines Inc., Intellia Therapeutics Inc., Ionis Pharmaceuticals Inc., MaxCyte Inc., Moderna Inc., Novartis International AG, Orchard Therapeutics PLC, Precision BioSciences Inc., and REGENXBIO Inc.

Innovative Drug Development Shaping the Market

Major players in the nucleic acid-based gene therapy market are pioneering advancements through innovative drug development. Drugs like Casimersen, indicated for the treatment of DMD in patients with a confirmed mutation amenable to exon 45 skipping, exemplify the progress in this field. Sarepta Therapeutics Inc.'s launch of Casimersen in February 2021, approved by the FDA, marked a significant milestone, providing a potential clinical benefit for patients amenable to exon 45.

Strategic Collaborations Drive Production Excellence

Companies in the nucleic acid-based gene therapy market are strategically engaging in partnerships and collaborations to enhance production capabilities. Notable collaborations include Pfizer Inc. and Beam Therapeutics Inc.'s exclusive four-year research collaboration on in vivo base editing programs for rare genetic diseases, and Merck's collaboration with Orna Therapeutics to discover, develop, and commercialize programs in infectious diseases and oncology. These collaborations underscore the industry's commitment to leveraging resources for production excellence.

Global Market Dynamics and Segmentation

As of 2023, North America leads the global nucleic acid-based gene therapy market, showcasing robust adoption and advancements. Following closely, Western Europe holds the second-largest share.

The nucleic acid based gene therapy market covered in this report is segmented –
1) By Technology: Anti-Sence and Anti-Gene, Short Inhibitory Sequences, Gene Transfer Therapy, Nucleoside Analogs, Ribozymes, Aptamers, Other Technologies
2) By Application: Oncology, Muscular Dystrophy/ Muscular Disorders, Rare Diseases
3) By End User: Hospitals And Clinics, Academic And Research Institutes

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Nucleic Acid Based Gene Therapy Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Nucleic Acid Based Gene Therapy Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on nucleic acid based gene therapy market size, nucleic acid based gene therapy market drivers and trends, nucleic acid based gene therapy market major players, nucleic acid gene therapy market competitors' revenues, nucleic acid gene therapy market positioning, and nucleic acid gene therapy market growth across geographies. The nucleic acid based gene therapy market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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