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Cancer Gene Therapy Market - Adoption Rate Is Expected To Increase Due To Rise In Disposable Income, Rise In Incidence Rate Of Cancer, And Government Initiative To Improve Healthcare Infrastructure, Which In Turn Fuel The Market Growth
Cancer Gene Therapy Market
Cancer gene therapy is a cancer treatment that transfers or replaces mutant genes (causing cancer) with the heathy gene using genetic engineering vectors such as cancer. This technology can be used for the prevention and treatment of diseases. The most common methods used to treat cancer gene therapy include tumor-solving therapies, gene delivery and gene-induced immunotherapy.
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Increased availability of cancer, ethical acceptance of gene therapy for cancer treatment, and advances in this area are driving market growth. In addition, the benefits of cancer gene therapy versus traditional cancer therapies, increased government support, and increased biotechnology funding to encourage R & D activities in cancer gene therapy trigger the growth of the cancer gene therapy market. However, high costs associated with treatment and unwanted immune responses are expected to curb market growth.
The key companies profiled in the report include
• Adaptimmune
• GlaxoSmithKline
• Bluebird bio Inc.
• Merck
• Celgene
• Shanghai Sunway Biotech
• BioCancell
• Shenzhen SiBiono GeneTech
• SynerGene Therapeutics
• OncoGenex Pharmaceuticals.
Tumor dissolution therapy is the largest contributor to market growth in therapeutic areas and gene therapy is expected to be a favorable market for positive outcomes for these therapies in preclinical and clinical trials for cancer treatment.
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In 2016, North America made the largest contribution to the total revenue generated by its high prevalence, high disposable income and high funding for research and development activities related to cancer gene therapy. However, the Asia Pacific region is expected to have the highest CAGR during the analysis period due to an increased incidence of cancer, increased government initiatives to improve medical infrastructure, and increased spending on healthcare.
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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