LONDON, Oct. 12, 2023 (GLOBE NEWSWIRE) — According to The Business Research Company’s nucleic acid based gene therapy market analysis report, biotechnology companies are increasingly focusing on acquiring/partnering with biopharmaceutical companies to develop and promote the nucleic acid-based gene therapy market. There have been several partnerships in recent years, which help these companies to increase their gene therapy portfolio, enhance their revenues and share the costs.
For instance, in January 2023, NeuBase Therapeutics, a US-based biotechnology company acquired infrastructure, programs and intellectual property for peptide-nucleic acid (PNA) scaffolds from Vera Therpeutics to enhance NeuBase’s capabilities, NeuBase’s PATrOL platform and reinforce the company’s position in genetic medicine. In April 2023, Sanofi, a France-based pharmaceutical company has acquired Tidal Therapeutics, a biotech company for upfront $160 million, another $370 million on reaching certain milestones and to bring CAR-T cell therapy for much broader patient population from the Tidal Therapeutics’ mRNA targeting platform.
The global nucleic acid-based gene therapy market is fairly fragmented, with a large number of small players. The top ten competitors in the market made up to 16.40% of the total market in 2020. Major players in the market include Copernicus Therapeutics, Moderna Inc., Wave Life Sciences, Protagonist Therapeutics and Transgene.
The Business Research Company’s report titled Nucleic Acid Based Gene Therapy Global Market Report 2023 – By Technology (Anti-Sense and Anti-Gene, Short Inhibitory Sequences, Gene Transfer Therapy, Nucleoside Analogs, Ribozymes, Aptamers), By Application (Oncology, Muscular Dystrophy/ Muscular Disorders, Rare Diseases), By End User (Hospitals And Clinics, Academic And Research Institutes), COVID-19 Growth And Change covers major nucleic acid based gene therapy companies, nucleic acid based gene therapy market share by company, nucleic acid based gene therapy manufacturers, nucleic acid based gene therapy market size, and nucleic acid based gene therapy market forecasts. The report also covers the global nucleic acid-based gene therapy market and its segments.
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The global nucleic acid based gene therapy market size is expected to grow from $0.56 billion in 2020 to $0.61 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The nucleic acid-based gene therapy market is expected to reach $0.85 billion in 2025 at a CAGR of 9%.
Nucleic acid-based gene therapy manufacturers are progressively investing in the launch of new manufacturing facilities and product portfolio expansion to meet the increasing demand for gene therapy and related products. Players operating in the nucleic acid-based gene therapy market are gradually investing in the developing regions to capitalize on untapped market opportunities. For example, in September 2023, Viralgen, a Bayer-owned CDMO, spent upwards of €50 million (US$ 55 million) to expand its capacity for gene therapy manufacturing services at its Miramon Technology Park site in San Sebastian, Spain. The commercial facility will have nine cleanrooms, each with a batch capacity of up to 2,000 L. Viralgen claims that this has expanded its existing viral vector capacity 15-fold, helping to meet the demand for gene therapy production. In addition, in May 2023, AGC Biologics, a global biopharmaceutical contract development and manufacturing organization (CDMO), announced plans to expand their Gene Therapy Center of Excellence in Milan, Italy.
North America was the largest region in the global nucleic acid-based gene therapy market, accounting for 46.2% of the total in 2020. It was followed by Western Europe, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the nucleic acid-based gene therapy market will be the Middle East and Eastern Europe where growth will be at CAGRs of 33.7% and 26.0% respectively. These will be followed by South America and Asia Pacific, where the markets are expected to register CAGRs of 21.0% and 20.4% respectively.
Nucleic Acid Based Gene Therapy Global Market Report 2023 – COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provide nucleic acid based gene therapy market overviews, nucleic acid based gene therapy market analyze and forecast market size and growth for the whole market, nucleic acid based gene therapy market segments and geographies, nucleic acid based gene therapy market trends, nucleic acid based gene therapy market drivers, nucleic acid based gene therapy market restraints, nucleic acid based gene therapy market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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