Press release
Global Cancer Gene Therapy Market Set to Hit $3.99 Billion by 2030 | Leading Companies: Aduro Biotech, OncoGeneX & New Link Genetics
The global cancer gene therapy market was valued at USD 1.76 billion in 2021 and is expected to grow to USD 3.99 billion by 2030, exhibiting a CAGR of 9.6% between 2022 to 2030.
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Market Overview
Cancer gene therapy refers to the injection of nucleic acid, which is one of the components that make up our DNA, directly into the tumor cells in order to reduce the malignancy of tumor cells by cell killing or correcting any errors in the genetic material. Cancer gene therapy also targets normal tissues in order to increase their resistance to cancer and improve the efficiency of the cancer treatment that is being given to the patient. The nucleic acid can be transmitted into the cells using molecular vehicles called vectors. Vectors comprise various molecular entities such as liposomes and replication-defective viruses, which carry nucleic acid, thereby reducing the destruction of the body caused by the tumor cells.
Growth Drivers
• The general population has increasingly adopted cancer-causing habits such as tobacco smoking, alcohol consumption, unhealthy diet, and improper physical activity. All these factors have led to the contribution of cancer.
• Many research facilities are increasingly investing in finding suitable cures for cancer due to the non-availability of a sure shot procedure that can completely eradicate cancer. Out of all the treatments, cancer gene therapy had the highest success rate, which has led to major adoption globally as the go-to cure for cancer.
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Major Participants
Leading pharmaceutical companies are allocating resources in order to come up with a cure for cancer patients. Some of the leading cancer gene therapy market participants are:
BioCancell
GlobeImmune, Inc.
Aduro Biotech
OncoGeneX
New Link Genetics
ZioPharm Oncology
Genelux Corporation
Novartis AG
GlaxoSmithKline PLC (GSK)
Amgen, Inc.
Segmental Analysis
• The cancer gene therapy market is segmented based on therapy, end-use, and region.
• Based on therapy, gene-induced immunotherapy leads the market due to the rising investment in R&D and advancements in gene technology.
• In terms of end-use, hospitals are expected to spearhead the market growth owing to the rising prevalence of cancer.
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Regional Overview
North America dominates the market with the highest revenue share. It is expected to expand during the forecast period with the availability of well-established infrastructure, funding in R&D, and technological advancement.
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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