The global gene therapy market is expected to greatly expand as patients put pressure on payers to cover therapies aimed at curing diseases instead of simply treating symptoms, says GlobalData, a leading data and analytics company.

According to GlobalData’s report, ‘Regenerative Medicine in Medical – Thematic Research’, the global regenerative medicine market is expected to grow from $2.2 billion in 2021 to $23 billion by 2028, at a compound annual growth rate (CAGR) of 40.2%. Only the global gene therapy market is expected to reach sales of $15.2 billion by 2028.

Elia Garcia, Medical Analyst at GlobalData, comments: “Gene therapy is a line of research that, through genetic transfer, seeks new treatments for difficult to treat diseases using traditional methods involving the replacement of a missing or defective gene to restore healthy function to a patient’s cells and tissues. The market has seen a couple of major product approvals such as Luxturna from Spark Therapeutics, Inc. for inherited retinal disorder, within the rare disease space. However, the high cost of these therapies is currently hindering their widespread adoption, as payers seek to adapt to this new paradigm of cure-based treatment.”

The gene therapies making their way through clinical trials continue to focus on rare diseases such as Duchenne muscular dystrophy, hemophilia B, optic neuropathy, among others. However, there are several gene therapies being developed for non-rare conditions such as refractory angina, cardiac syndrome X, heart failure, Alzheimer’s disease, and various cancers.

Garcia adds: “Gene therapies are undoubtedly promising for the treatment of hereditary diseases and improving patients’ quality of life. As indications continue to expand in the gene therapy space, the potential markets will also expand as a greater number of patients will benefit from these products. This is expected to increase gene therapy adoption and further push payers into finding methods to pay for these expensive treatments.”