Gene Therapy on Cardiovascular Disease Market Report Overview
-
Request a Free Sample to learn more about this report
The global gene therapy on cardiovascular disease market size was USD 13 million in 2021, as per our research, the market is expected to reach USD 59879.09 million in 2031, exhibiting a CAGR of 91.0% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with gene therapy on cardiovascular disease market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
A form of experimental treatment called gene therapy on cardiovascular disease includes inserting genetic material into a patient's cells to cure or prevent cardiovascular disease. In order to improve the function of the heart and blood arteries, gene therapy for coronary artery disease aims to fix genetic flaws or change gene expression. Viral vectors are one method of delivering therapeutic genes to the cells of the heart or blood arteries in gene therapy treatment.
Due to a number of causes, the market for gene therapy on cardiovascular disease is expanding. First, there is a critical need for more effective therapies for cardiovascular disease, which is a leading cause of death worldwide. Second, the development and delivery of therapeutic genes is now more effectively and safely possible thanks to developments in genetic engineering and gene delivery technology. Third, gene therapy has shown promise in treating a number of cardiovascular disorders, including heart failure and inherited heart problems, according to multiple clinical trials. Last but not least, governments and private investors are becoming more interested in sponsoring and investing in gene therapy research and development. As a result, it is anticipated that the market for gene therapy for coronary artery disease would expand during the future years.
COVID-19 Impact: Site Closures and Restrictions led to Delays in Development and Approval of Therapy Treatments
The COVID-19 pandemic has significantly impacted the medical field, especially the market for gene therapy on heart disease. Clinical studies were significantly impacted by the pandemic as a result of site closures, site restrictions, and supply chain disruptions. Gene therapy treatment development and approval were delayed as a result of this. Additionally, the pandemic caused a shift in healthcare priorities towards the prevention and treatment of infectious diseases, which might have taken funding and focus away from the study and development of gene therapies for heart disease.
Latest Trends
"Use of mRNA-based Therapies over Conventional Therapies Provide Patients with More Benefits "
The use of mRNA-based gene therapies is one of the most recent developments in the field of gene therapy on cardiovascular disease. mRNA-based gene therapies function by sending a synthetic mRNA molecule that encodes the therapeutic protein to the target cells, in contrast to conventional gene treatments that transfer therapeutic genes directly to target cells. The therapeutic protein is subsequently created by the cells themselves using the template provided by the mRNA molecule. Compared to conventional gene therapies, this strategy provides a number of benefits, including increased safety and simplicity in manufacturing. No insertional mutagenesis risk or other long-term safety issues exist since the mRNA molecule is not integrated into the patient's genome. Additionally, mRNA-based gene treatments can be produced more quickly and inexpensively than conventional gene therapies, giving patients greater access to them.
Gene Therapy on Cardiovascular Disease Market Segmentation
-
Request a Free Sample to learn more about this report
- By Type Analysis
According to type, the market can be segmented into viral gene therapy and non-viral gene therapy.
- By Application Analysis
Based on application, the market can be divided into heart disease and vascular disease.
Driving Factors
"Demand for Gene Therapy Treatments is Increasing due to the Significant Unmet Medical Needs"
With an anticipated 17.9 million deaths attributable to cardiovascular disease (CVD) in 2019 alone, CVD continues to be the leading cause of morbidity and mortality worldwide. For patients with CVD, especially those who have advanced or refractory illness, there is still a large unmet medical need despite significant advancements in conventional therapy including drugs and procedures. By addressing the underlying genetic causes of the disease, gene therapy offers a promising new method for treating CVD. The market for gene therapy on cardiovascular disease is expanding as a result of the high need for novel and creative treatments that can enhance the results and quality of life for patients with CVD.
"Favorable Government Regulations Will Accelerate the Implementation of the Gene Treatment"
Many governments and regulatory organizations have put in place policies and activities to assist the creation and approval of gene treatments for uncommon and fatal diseases, such as cardiovascular conditions. For instance, the US FDA has developed a number of programmers, such as the Breakthrough Therapy designation and the Regenerative Medicine Advanced Therapy designation, to quicken the approval process for gene therapies. It is anticipated that the research and marketing of gene therapy on cardiovascular diseases will be accelerated by this supportive regulatory environment.
Restraining Factors
"High Costs Associated with the Gene Treatment Could Limit the Market Expansion"
The high cost of gene therapy treatments is one of the problems limiting the market. Since gene therapy is a relatively new and sophisticated medical technology, it can be quite expensive to produce and deliver gene therapies. Many people cannot afford these treatments since they are frequently passed on to patients, especially those who lack proper insurance or financial resources. The high cost of the therapy treatments has also been influenced by the absence of payment guidelines and the limited insurance coverage available. Due to the paucity of information on the long-term safety and efficacy of gene therapies, insurance companies and healthcare providers may be reluctant to cover the costs of gene therapies, particularly for rare diseases or disorders. This may make it challenging for patients to access these treatments and can limit the overall gene therapy on cardiovascular disease market growth.
Gene Therapy on Cardiovascular Disease Market Regional Insights
-
Request a Free Sample to learn more about this report
"Presence of Major Players Boost the Therapy Market Share in the North America "
Due to a number of variables, North America is anticipated to lead the gene therapy on cardiovascular disease market share. First off, cardiovascular disease, one of the top causes of mortality in North America, is very common in the area. The American Heart Association estimates that every year, cardiovascular disease causes 800,000 deaths in the United States. Several significant competitors in the gene therapy business are based in North America, including Spark Therapeutics, Novartis, and Pfizer. These businesses have enormous capacities for research and development and ample financial resources to devote to the creation and marketing of gene treatments.
Key Industry Players
"Key Players are Forming Alliances to Boost Production and Save Costs"
To hasten the development and marketing of gene therapies, many businesses are forming alliances with other businesses and academic organizations. For instance, Intellia Therapeutics and Regeneron announced their partnership to create gene treatments for cardiovascular illnesses in August 2021. In addition, many businesses are investing in extending their manufacturing capabilities to boost production and save costs due to the complexity and expensive cost of manufacturing gene therapies. To promote the commercialization of its gene therapy drugs, Novartis, for instance, recently constructed a new manufacturing facility in Switzerland.
List of Market Players Profiled
- Biogen (U.S.)
- Novartis (Switzerland)
- Gilead Sciences (U.S.)
- Sarepta Therapeutics (U.S.)
- Alnylam Pharmaceuticals (U.S.)
- Amgen (U.S.)
- Spark Therapeutics (U.S.)
- Akcea Therapeutics (U.S.)
Report Coverage
This report covers the gene therapy on cardiovascular disease market. The CAGR expected to be in during the forecast period, and also the USD value in 2021 and what it is expected to be in 2031. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 13 Million in 2021 |
Market Size Value By |
US$ 59879.09 Million by 2031 |
Growth Rate |
CAGR of 91% from 2021 to 2031 |
Forecast Period |
2023-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
-
What value is the global gene therapy on cardiovascular disease market expected to touch by 2031?
The global gene therapy on cardiovascular disease market is expected to touch USD 59879.09 million in 2031.
-
What CAGR is the gene therapy on cardiovascular disease market expected to exhibit during 2022-2031?
The gene therapy on cardiovascular disease market is expected to exhibit a CAGR of 91.0% over 2022-2031.
-
Which are the driving factors of the gene therapy on cardiovascular disease market?
Demand for gene therapy treatments is increasing due to the significant unmet medical needs and favorable government regulations will accelerate the implementation of the gene treatment are the driving factors of the gene therapy on cardiovascular disease market.
-
Which are the top companies operating in the gene therapy on cardiovascular disease market?
The top companies operating in the gene therapy on cardiovascular disease market are Biogen, Novartis, Gilead Sciences, Sarepta Therapeutics and Alnylam Pharmaceuticals.