Cancer Gene Therapy Market Growth Areas, Shares, Strategy, and Forecasts 2021-2030

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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Top Companies: Bluebird bio, Inc., Merck, Adaptimmune, GlaxoSmithKline, Anchiano Therapeutics, Shenzhen SiBiono GeneTech, SynerGene Therapeutics, Celgene, Shanghai Sunway Biotech, OncoGenex Pharmaceuticals

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.

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

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.

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Market Segmentations and Scope of the Study:

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 gene transfer is further sub-segmented into naked/plasmid vectors, sonoportion, 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 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.

Geographical Analysis:

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.

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