Gene Therapy Market is expected to reach USD 54.39 Billion by 2032, and grow at a CAGR of 23.12%.

The gene therapy market has been rapidly growing in recent years due to significant advancements in biotechnology, genomics, and gene-editing technologies. Several gene therapies have received regulatory approval for specific genetic disorders, such as certain types of inherited blindness, spinal muscular atrophy, and rare immune deficiencies. The market potential for gene therapy is substantial, as it holds the promise of treating a wide range of genetic diseases that were previously considered incurable. However, it is essential to note that gene therapy is a complex and challenging field with various technical, regulatory, and ethical considerations. One of the major advantages of gene therapy products is that they are subject to rigorous regulatory approval before they can be marketed. They work at the genetic level, and their therapeutic effects are relatively more effective and longer-lasting than those of other traditional medicines. Due to this advantage, the number of approvals for gene therapy products is expected to increase. The US FDA has already approved over 10 products from 2021 to 2023, and there are a high number of products in the final stages of the clinical pipeline that will gain final approval and start marketing in the forecast period. Therefore, this is a major factor contributing to the growth of the market over the forecast period. Furthermore, the number of research and development activities for cell and gene therapy is increasing.