Cancer Gene Therapy Market Growth Analysis By Top Key Players: Adaptimmune, GlaxoSmithKline, Bluebird bio, Inc., Merck, Celgene, Shanghai Sunway Biotech, BioCancell, Shenzhen SiBiono GeneTech and more
The increase in prevalence of cancer, ethical acceptance for implementation of gene therapy for cancer treatment, and advancements in the field facilitate the market growth. Moreover, benefits regarding cancer gene therapy in comparison to conventional cancer therapies, favorable government policies, and increase in biotechnological funding for R&D activities supplement the growth of the cancer gene therapy industry. However, expensive treatment costs and unexpected immune responses would restrain the market growth.
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The key companies profiled in the report include
• Bluebird bio Inc.
• Shanghai Sunway Biotech
• Shenzhen SiBiono GeneTech
• SynerGene Therapeutics
• OncoGenex Pharmaceuticals.
Cancer gene therapy is an approach for the cancer treatment, where genetically engineered vectors such as viruses are used to transfer or replace a mutated gene (that is causing cancer) with a heathy gene. This technique can be used for both the prevention and treatment of disease. The most commonly used techniques for the treatment using cancer gene therapy includes oncolytic virotherapy, gene transfer, and gene-induced immunotherapy.
Among the therapy segment, oncolytic virotherapy segment is the largest contributor toward the market growth and gene transfer therapy segment is anticipated to be a lucrative market due to the positive results for these therapies during the preclinical and clinical trials for the treatment of cancer.
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In 2016, North America accounted for maximum contribution to the total revenue generated, owing to the high prevalence rate of cancer, presence of high disposable income, and high funding for R&D activities associated with cancer gene therapy. However, Asia-Pacific is expected to witness the highest CAGR during the analysis period, attributable to rise in incidence rate of cancer, increase in government initiative to improve healthcare infrastructure, and rise in healthcare expenditure.
Key Findings of the Cancer Gene Therapy Market:
• Gene tranfer segment is projected to grow at the highest rate during the analysis period.
• Oncolytic virotherapy segment generated the highest revenue, and is expected to continue its dominance in the future.
• North America dominated the global cancer gene therapy market, and is projected to continue its dominance in future.
• China is expected to grow highest in the Asia-Pacific region.
• Asia-Pacific is expected to be the fastest growing segment during the forecast period.
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