Cancer Gene Therapy Market Research, 2030
The global Cancer Gene Therapy Market size was valued at $1.4 billion in 2020 and is projected to reach $11.4 billion by 2030, growing at a CAGR of 23.3% from 2021 to 2030. Cancer is a group of diseases involving abnormal cell growth with the potential to invade or spread to other parts of the body. Cancer often has the ability to spread throughout your body. It is the second-leading cause of death in the world. Cancer gene therapy is a technique used for the treatment of cancer where therapeutic DNA is being introduced into the gene of the patient with cancer. Owing to the high success rate during the preclinical and clinical trials, cancer gene therapy has gained popularity. There are many techniques used for cancer gene therapy, for example, a procedure where the mutated gene is being replaced with a healthy gene or the inactivation of a gene whose function is abnormal. Recently, a new technique has been developed, where new genes are introduced into the body to help fight against cancer cells.
The key factors that boost the Cancer Gene Therapy Market growth are an increase in funding of R&D in the activities of cancer gene therapy along with the rising in the prevalence of cancer. In addition, the favorable government regulations for therapy are further going to boost various opportunities that are anticipated to provide Cancer Gene Therapy Market opportunity during the forecast period. In addition, the risk of cancer gene therapy is less, as a new gene introduced will integrate itself into the genome of the patient and continue functioning without hampering the operations of other genes are the key factors anticipating the growth of the market in upcoming years.. Hence, these aforementioned factors helps in increasing the global cancer gene therapy share. However, the high cost involved in gene therapy along with unwanted immune responses is likely to hamper the growth of the cancer gene therapy market during the forecast period.
The Gene Therapy Industry is segmented on the basis of therapy, end-user, and region. By therapy, it is categorized into gene-induced immunotherapy, oncolytic virotherapy, and gene transfer. By end-user, it is categorized into hospitals, diagnostic centers, and research institutes. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Therapy Segment Review
By therapy, the cancer gene therapy market is categorized into oncolytic virotherapy, gene transfer, and gene-induced immunotherapy. The gene-induced immunotherapy segment dominates the market owing to the rise in the advancement of gene-induced immunotherapy research, increase in funding for R&D activities pertaining to cancer gene therapy, and rise in awareness regarding cancer gene therapy are the key factors anticipating the growth of the market in upcoming years.
End-User Segment Review
By end-user, the cancer gene therapy market is categorized into hospitals, diagnostic centers, and research institutes. The hospital segment was the major contributor to the global market in 2020 and is anticipated to remain dominant during the forecast period, due to the increase in healthcare awareness, rise in the number of hospitals, and growth in the geriatric and bariatric populations are the key factors anticipating the growth of the market in upcoming years..
Region Segment Review
By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America was the highest Cancer Gene Therapy Market share, with $564.52 million in 2020, and is estimated to reach $4,307.47 million by 2030, registering a CAGR of 22.5% during the forecast period. Owing to significant investments in research and advancements in technology, the Asia-Pacific market is estimated to reach $2,913.67million at a significant CAGR of 24.9%. The presence of a large population base, government initiatives to improve healthcare infrastructure, and an increase in healthcare expenditure are the key driving factors that boost the viral vectors and plasmid DNA market in the region.
The key players that operate in the cancer gene therapy market include Adaptimmune, GlaxoSmithKline, Bluebird bio, Inc., Merck, Celgene, Shanghai Sunway Biotech, BioCancell, Shenzhen SiBionoGeneTech, SynerGene Therapeutics, and OncoGenex Pharmaceuticals.
Other prominent players in the value chain include Genelux Corporation, Cell Genesys, Advantagene, GenVec, BioCancell, Celgene, Epeius Biotechnologies, Introgen Therapeutics, Ziopharm Oncology, Shenzhen SiBionoGeneTech, and Altor Bioscience
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cancer gene therapy market analysis from 2020 to 2030 to identify the prevailing cancer gene therapy market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the cancer gene therapy market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global cancer gene therapy market trends, key players, market segments, application areas, and market growth strategies.
Cancer Gene Therapy Market Report Highlights
| Aspects | Details |
 By Therapy |
|
 By End User |
|
 By Region |
|
 Key Market Players | Kayropharma Therapeutics, Bristol Myers Squibb Co., Amgen Inc., Novartis, Genulex Corporation, Gilead Sciences, Adapta Immue, shanghai sunway biotech, SynerGene Therapeutics, Glaxosmithkline PLC |
Analyst Review
According to CXOs, the demand for cancer gene therapy has increased rapidly. The rise in the prevalence of cancer and increase in biotechnological funding that encourage the R&D activities for cancer gene therapy are the major factors that drive the market growth. In addition, the benefits of cancer gene therapy over conventional cancer therapies and an increase in government support fuel the growth of the cancer gene therapy market. Furthermore, ethical acceptance of gene therapy for cancer treatment, short-duration treatment, and the advancement in this field boost the market growth. However, the high cost associated with the treatment and unwanted immune responses is expected to restrain the market.
Gene transfer therapy is expected to be a lucrative segment for the market players as it is the fastest-growing segment. The therapy involves the introduction of new genes into the tumor cells. It is an emerging cancer treatment method and seems to show positive results in preclinical and clinical studies.
The employment of cancer gene therapy is highest in North America, owing to a rise in funding for R&D activities, the high prevalence rate of cancer, and a surge in disposable income among customers. Although the use of cancer gene therapy in the Asia-Pacific and LAMEA region is low, the adoption rate is expected to increase due to a rise in disposable income, the surge in the incidence rate of cancer, and government initiatives to improve healthcare infrastructure, which in turn fuel the market growth.
The top companies to hold the market share in Cancer Gene Therapy are Adaptimmune, GlaxoSmithKline, Bluebird bio, Inc., Merck, Celgene, Shanghai Sunway Biotech, BioCancell, Shenzhen SiBionoGeneTech, SynerGene Therapeutics, and OncoGenex Pharmaceuticals.
North America largest regional market for Cancer Gene Therapy.
The upcoming trends of the Cancer Gene Therapy Market in the world are an increase in funding of R&D in the activities of cancer gene therapy along with rise in prevalence of cancer. In addition, the favourable government regulations for therapy are further going to boost various opportunities that are anticipated to lead to the growth of the cancer gene therapy market during the forecast period.
The total market value of the Cancer Gene Therapy Market is $11,359.35 million by 2030.
No, there is no value chain analysis provided in the Cancer Gene Therapy Market report
The global Cancer Gene Therapy market was valued at $1,389.42 million in 2020
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