The global gene therapy market is expected to grow at a compound annual growth rate (CAGR) of around 21% from 2024 to 2030.

The growth of the gene therapy market is driven by several key factors, including a surge in approvals from regulatory bodies, expanded genomics clinical research initiatives, a growing emphasis on advanced targeted gene therapies, and the widening scope of gene delivery technologies. Additionally, competition among key players to commercialize gene therapies, the escalating prevalence of genetic disorders, increased research and development activities, and a growing geriatric population contribute significantly. Elevated healthcare expenditure, heightened health awareness among the general populace, and medical research organizations' intensified focus on potential cures for rare, genetic, and autoimmune diseases also propel this growth. Moreover, the market also benefits from a strong and expanding gene therapy pipeline.

The global gene therapy market size in terms of revenue was estimated to be around USD 9 Billion in 2023.

In 2023, spinal muscular atrophy (SMA) emerged as the dominant segment, securing a substantial share exceeding 40%. Despite its rarity, SMA ranks among the most prevalent and fatal inherited disorders in infants. The introduction of Zolgensma (AVXS-101) has proven its effectiveness in treating SMA, notably altering the disease's phenotype. In May 2019, the FDA granted approval for Novartis' Zolgensma, targeting the root cause of SMA. Currently, Zolgensma stands as the sole approved gene treatment in this field, marking a significant step in adopting therapies for combating severe hereditary conditions such as SMA.

Some of the key players operating in the gene therapy market include American Gene Technologies, Amgen, AnGes, Astellas Pharma, AstraZeneca, BENITEC BIOPHARMA, Biogen, BioMarin Pharmaceutical, Bluebird Bio, Bristol-Myers Squibb Company, Cellectis, CRISPR Therapeutics, CSL Behring, Epeius Biotechnologies, Gene Biotherapeutics, Gensight Biologics, Gilead Lifesciences, Novartis, Orchard Therapeutics, Oxford BioMedica, Pfizer, REGENXBIO, Roche, Sangamo Therapeutics, SANOFI, Shanghai Sunway Biotech, Shenzhen Sibiono GeneTech, Vertex Pharmaceuticals, and Others.

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