Market Trends of Global Gene Delivery Systems Industry
This section covers the major market trends shaping the Gene Delivery Systems Market according to our research experts:
Viral Gene Delivery Systems Segment is Expected to Hold the Largest Share in the Gene Delivery Systems Market
Viral gene delivery systems consist of viruses that are modified to be replication-deficient, which can deliver the genes to the cells to provide expression. Adenoviruses, retroviruses, and lentiviruses are used for viral gene delivery. Viral gene delivery systems are likely to hold a significant market share over the forecast period owing to attributes such as long-term expression and short-term expression, the efficacy of therapeutic genes, and the rising advancement in technology over the last few years which have opened up many opportunities for growth in the healthcare industry. The increase in the prevalence of chronic diseases, such as cancer and cardiovascular disorders, has also aided in market growth. For instance, according to the British Heart Foundation England Factsheet, published in January 2022, about 6.4 million people are living with cardiovascular diseases in England. Also, according to the CDC, in 2021, around 18.2 million adults aged 20 and older had coronary artery disease (CAD) in the United States. Heart disease is the leading cause of death among people in the United States. Thus, the rise in chronic diseases will significantly drive the growth of the studied market.
The growing emphasis on governing and raising awareness about these treatments by governments in different countries has resulted in the rapid acceptance of these gene delivery systems worldwide. For instance, as per the September 2022 report from World Economic Forum, the unique nature of personalized gene therapy treatments makes them difficult to regulate within traditional frameworks. The same source stated that, in the United States, over 60 gene therapies are expected to receive approval by 2030, forcing the FDA to quickly evolve to adequately judge the safety and efficacy of these novel treatments. These regulatory changes are creating ripple effects around the globe as countries seek to converge their regulatory requirements, making it easier and quicker for companies to bring their gene therapies to more markets sooner. Such initiatives around the globe are likely to adopt gene therapy and thereby utilize the gene delivery systems and leading to market growth.
North America is Likely to Show a Significant Market Growth Over the Forecast Period
North America is expected to maintain its overall gene delivery systems market supremacy throughout the forecast period. The factors such as the rising prevalence of chronic diseases, technological advancement, and the domicile presence of major players have been driving the market growth in the region. For instance, per the data published by the American Cancer Society in January 2023, an estimated 1,958,310 new cancer cases will be diagnosed in the United States in 2023. In addition, in the US, the population aged 65 or more was 54.1 million (16% of the total population) in 2019, which is estimated to be 21.6% by 2040.
Additionally, the presence of major market players and key strategies implemented by them, such as partnerships and collaborations, are also contributing to the market growth. For instance, as per the June 2021 news report, Health Canada approved five gene therapies (Kymriah, Yescarta, Spinraza, Luxturna, and Abecma), and there are more in the pipeline. Based on the number of clinical trials in progress, there are likely to be 10-20 gene therapy products approved every year for the next few years. Moreover, government funding in the field of gene therapy to conduct research is one of the primary growth factors of the studied market. For instance, as per a news report published in May 2022, Virica Biotech collaborated with the government of Canada to support the manufacturing of an aav-lpl (lipoprotein lipase) gene therapy to treat lipoprotein lipase deficiency. The USD 40,000 in funding from Innovation, Science and Economic Development Canada (ISED) received by Virica was used to support its work with the National Research Council (NRC) of Canada's Cell and Gene Therapy Challenge program.
