Adeno-Associated Virus Vector-Based Gene Therapy Market Size To Grow At A CAGR Of 18.5% In The Forecast Period Of 2023-2031
The ‘Global Adeno-Associated Virus Vector-Based Gene Therapy Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2031’ by Expert Market Research gives an extensive outlook of the global adeno-associated virus vector-based gene therapy market, assessing the market on the basis of its segments like therapeutic agents, indication type, treatment channel, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Adeno-Associated Virus Vector-Based Gene Therapy Market Size, Share, Trends, Industry, Key Player, Report and Forecast
The key highlights of the report include:
Market Overview (2016-2031)
- Forecast CAGR (2023-2031): 18.5%
- Forecast Market Size (2030): USD 3.6 billion
Adeno-associated virus is ideal for vector-based gene therapy owing to its versatility and safety. This therapy is crucial for the development of targeted treatments for various chronic conditions including inherited blindness, spinal muscular atrophy, haemophilia, and Duchenne muscular atrophy, among others. Hence, the increasing prevalence of these diseases is bolstering the adeno-associated virus vector-based gene therapy market growth.
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Meanwhile, the increasing geriatric population worldwide is leading to an escalation in the cases of ophthalmological and neurological disorders which are in turn boosting the requirement for advanced gene therapy treatments across the healthcare units. The market is further supported by the favourable reimbursement policies of various governments which is fuelling the need of such treatments by encouraging routine check-ups.
Over the forecast period, the anticipated increase in musculoskeletal disorders among the working population, coupled with the increasing awareness pertaining to gene therapy in modern healthcare institutions are the crucial driving factors of the adeno-associated virus vector-based gene therapy market. The emergence of innovative therapies and changing preference towards safe, efficient, and effective viral vectors for enhanced gene therapy are further expected to provide impetus to the adeno-associated virus vector-based gene therapy market in the coming years.
Adeno-Associated Virus Vector-Based Gene Therapy Industry Definition and Major Segments
Adeno-associated virus is a type of non-enveloped virus which affects multiple species. This virus belongs to the family of Parvoviridae and does not cause any chronic disease. It can be engineered to deliver specific DNA to targeted cells. Adeno-associated virus vector-based gene therapy is a type of therapy which uses adeno-associated virus (AAV) as a mode of gene delivery in order to treat various diseases.
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Based on therapeutic agents, the market is segmented into:
- Corticosteroid Drugs
- Immunosuppressive Drugs
- ACE Inhibitors and ARBs
On the basis of indication type, the market is divided into:
- Hematological Disorders
- Hemophilia A
- Hemophilia B
- Ophthalmological Disorders
- Retinitis Pigmentosa
- Lysosomal Storage Disorders
- Fabry Disease
- Pompe Disease
- Hunter Syndrome
- Neurological Disorders
- Parkinson’s Disease
- Batten Disease
- Musculoskeletal Disorders
- Duchenne Muscular Dystrophy (DMD)
- Spinal Muscular Atrophy (SMA)
By treatment channel, the market is bifurcated into:
On the basis of region, the market can be categorised into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Adeno-Associated Virus Vector-Based Gene Therapy Market Trends
The key trends in the global adeno-associated virus vector-based gene therapy market include the increasing investments towards advancing the biotechnological and genetics sector which are leading to a heightened development of a diverse and wide array of therapeutics. The growing research and development activities by the leading pharmaceutical and biotechnological companies, aimed towards developing novel therapeutic treatments are further propelling the demand for adeno-associated virus vector-based gene therapy. In addition, the favourable policies of various governments aimed towards improving the diagnosis and treatment infrastructure of genetic disorders are providing impetus to the market.
Revolutionary treatments such as ocular gene treatment are undergoing clinical trials which is a positive indicator for the adeno-associated virus vector-based gene therapy market. Moreover, upgrades in gene modification tools by major medical companies aimed towards expanding their product portfolio are expected to bolster the market dynamics in the forecast period.
In regional terms, North America holds a healthy share in the market. The increasing prevalence of neurological diseases such as Parkinson’s disease among the geriatric population is driving the market growth. Advanced medical infrastructure and greater awareness amongst the population about health facilities and novel treatment options are further propelling the market numbers in this region.
Key Market Players
The major players in the adeno-associated virus vector-based gene therapy market report are:
- Arya Sciences Acquisition Corp.
- Pfizer Inc.
- Roche Holding AG
- BioMarin Pharmaceutical Inc.
- Bayer AG
- Coave Therapeutics
- MeiraGTx Limited
- Neurocrine Biosciences, Inc.
- Biogen, Inc.
- Sangamo Therapeutics
- Sarepta Therapeutics, Inc.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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