Technavio forecasts significant growth in the global gene therapy market, expecting an increase of USD 4,613.9 million between 2022 and 2027, with a compound annual growth rate (CAGR) of 19.91%. This surge is attributed to heightened research in gene therapy for cardiovascular diseases (CVDs) and orphan diseases. Companies are redirecting their research and development efforts toward gene therapies for CVDs due to their high prevalence in the adult population, especially those over 65. The focus is on developing therapies for immediate treatments, such as MYDICAR, a gene transfer therapy in Phase II development for heart failure.

The market segmentation by therapy areas includes oncology, CNS, ophthalmology, rare diseases, and others, with oncology projected to experience significant growth. The global gene therapy market is geographically divided into North America, Europe, Asia, and the Rest of the World, with North America expected to contribute 39% to the market's growth. The U.S. has become a lucrative market, with increased investments and funding from government agencies driving gene therapy development.

The vendor landscape is characterized by fragmentation, with several global and regional vendors. Key vendors include Abeona Therapeutics Inc., Amgen Inc., Biogen Inc., Gilead Sciences Inc., and Novartis AG. These companies offer a range of gene therapy solutions, reflecting the industry's diversity.