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The projected size of the Global Cancer Gene Therapy Market is anticipated to reach $558 billion by 2030, exhibiting a remarkable Compound Annual Growth Rate (CAGR) of 33% from 2024 to 2030. In light of this prevalent health challenge, the global cancer gene therapy market is experiencing robust growth.
Overview
The global Cancer Gene Therapy Market size is predicted to reach $558 billion, with a CAGR of 32.6% by 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 body of patients to assist in fighting the disease.
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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.
Furthermore, improving regulatory standards regarding the quality of products utilized in gene therapy, growing investments for Research and Development 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.
However, factors such as cost-effectiveness of the of gene therapy treatment, unwanted immune responses, and risk factors associated with the treatment, are expected to hamper the growth of cancer gene therapy market during the forecast period.
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Moreover, growing geriatric population world-wide, increase In per-capita disposable incomes, advancements in product technologies, as well as untapped market opportunities offered by the emerging economies, are the factors anticipated in creating lucrative opportunities for the growth of cancer gene therapy market, coming future.
The cancer gene therapy market share has been analyzed 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 tumor antigen gene.
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 centers, and research institutes. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
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, BioCancell, Shenzhen SiBiono GeneTech, SynerGene Therapeutics, Celgene, Shanghai Sunway Biotech, OncoGenex Pharmaceuticals, and others are provided in the cancer gene therapy market report.
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An upsurge in Research and Development 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.
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