The Korea Biotechnology Industry Organization has released an analysis citing data from the market research firm MarketsandMarkets, projecting the sector will grow at a compound annual rate of 19.4 percent — rising from $72 billion in 2023.
Gene therapy, which seeks to modify or replace defective genes to treat disease, has gained momentum as medical research deepens and global investment accelerates.
Among the various modalities, gene silencing therapies accounted for the largest share of the market last year, generating roughly $34 billion in revenue, or 47.7 percent of the total. Gene augmentation therapies followed with $21 billion, while cell replacement treatments contributed around $15 billion.
The report also highlighted the dominance of the neurological segment, which represented 57.4 percent of the market — equivalent to about $41 billion — driven by increasing incidence of chronic diseases and a growing appetite for advanced therapeutic options.
“The diversity of approved and commercialized treatments, along with high therapeutic efficacy for major neurological diseases, has driven growth in this sector,” the report noted.
North America retained its position as the global leader, with market revenue of approximately $36 billion, underpinned by robust biopharmaceutical manufacturing infrastructure, active drug development pipelines, and significant R&D investment.
In South Korea, industry leaders are making strategic moves to align with global trends. Samsung Bioepis, a major biosimilar producer, has identified gene therapy as a central pillar of its future growth strategy. ABL Bio, traditionally focused on antibody treatments, is expanding its pipeline to include gene therapy platforms.
Meanwhile, RNA-based biotech firm Rznomics recently entered into a high-profile licensing agreement with Eli Lilly. The deal, valued at more than $19 billion, centers on precision RNA therapies aimed at treating hereditary hearing loss — marking one of the most significant cross-border biotech collaborations to date.
reporter
Kim Dong-young
davekim0807@ajupress.com
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