The Global Cancer Gene Therapy Market size valued to USD 558.24 million in 2019, is predicted to reach USD 16.50 billion by 2030, with a CAGR of 32.6% from 2020-2030
Gene therapy is a technique to treat or prevent diseases, by using specific genes to replace the mutated gene causing disease or inactivate the mutated gene not functioning properly, or introducing an entirely new gene into the patient’s body to assist in fighting the disease. Cancer gene therapy is gaining momentum due to high success rates achieved during pre-clinical and clinical trials. There are several experiments and researches going on to replace the use of conventional drugs and surgeries with gene therapy to treat cancer; as it causes least side effects and offers maximum efficacy.
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Market Dynamics and Trends:
According to the World Health Organization, cancer caused nearly 9.6 million deaths in 2018, and it is the second-leading cause of death world-wide. At global level, about 1 in 6 deaths are due to cancer. Owing to this market scenario, the global cancer gene therapy market is growing vehemently.
Furthermore, improving regulatory standards regarding the quality of products utilized in gene therapy, growing investments for R&D activities, growing popularity of DNA vaccines, and ethical acceptance of the gene therapy treatments in treating cancer, are the factors anticipated in propagating growth of the global cancer gene therapy market, throughout the forecast period.
Market Segmentations and Scope of the Study:
The cancer gene therapy market share has been analysed based on therapy, end-user, and geography.
Based on therapy, the cancer gene therapy market is classified into gene induced immunotherapy, gene transfer, and oncolytic virotherapy. The gene induced immunotherapy is further sub-segmented into the delivery of cytokines gene and delivery of tumour antigen gene. The gene transfer is further sub-segmented into naked/plasmid vectors, son portion, magnetofection, electroporation, and gene gun. The oncolytic virotherapy segment is further sub-segmented into adenovirus, lentivirus, vaccinia virus, herpes simplex virus, alpha virus, retro virus, adeno associated virus, simian virus, and others. Based on application, the cancer gene therapy market is divided into hospitals, diagnostics centres, and research institutes. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and Row.
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North America region dominated the global cancer gene therapy market in the past, and is expected to maintain its dominance throughout the forecast period, accounting for the highest market share. The growing number of geriatric populations, well-established health-care infrastructures with specialized medical practitioners, advanced technological developments at the product front, presence of major manufactures and key players as well as higher adoption of cancer gene therapy treatment in this region, are the factors expected to boost-up the cancer gene therapy market growth.
Asia Pacific region is expected to demonstrate a substantial growth in the cancer gene therapy market, with considerable CAGR values throughout the forecast period. Increasing consumer awareness about cancer gene therapy, increasing government initiatives in propagating this treatment, improvement in healthcare infrastructures as well as untapped market offered by emerging economies, are further expected to propel the growth of cancer gene therapy market.
Comprehensive competitive analysis and profiles of the major market players such as Bluebird bio, Inc., Merck, Adaptimmune, GlaxoSmithKline, Anchiano Therapeutics, Shenzhen SiBiono GeneTech, SynerGene Therapeutics, Celgene, Shanghai Sunway Biotech, OncoGenex Pharmaceuticals, and others are provided in the cancer gene therapy market report.
An upsurge in R&D activities and advancement in product technologies and new product launches by the key players, is leading the healthcare infrastructure to new heights, thereby creating lucrative opportunities in the global cancer gene therapy market.
The cancer gene therapy market report provides a quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.
The study comprises a deep dive analysis of the cancer gene therapy market trend including current and future trends for depicting the prevalent investment pockets in the market.
The report provides detailed information related to key drivers, restraints, opportunities and their impact on the cancer gene therapy market.
The report incorporates a competitive analysis of the market players along with their market share in the global cancer gene therapy market.
The study elaborates SWOT analysis and Porters Five Forces model for the cancer gene therapy market.
Value chain analysis in the cancer gene therapy market study provides a clear picture of the stakeholders’ roles.
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